REBusinessOnline

SLIB Negotiates $2.3M Sale of Assisted Living Community in Milwaukee

MILWAUKEE — Senior Living Investment Brokerage (SLIB) has arranged the sale of St. Clare Terrace, a 59-unit assisted living community in Milwaukee. The community was built in 1964 and operates under the Residential Care Apartment Complex (RCAC) designation. Under this designation, residents have individual apartments with kitchens and bathrooms. They also receive up to 28 hours per week of supportive, personal and nursing services. The 67,000-square-foot property sits on 2.4 acres, and was 64 …

PMB Completes Seniors Housing Project as Part of Mixed-Use Development in Tacoma, Washington

TACOMA, WASH. — PMB has opened the doors on GenCare Lifestyle at Point Ruston, a 159-unit independent living, assisted living and memory care community in Tacoma. The 144,000-square-foot, six-story senior community is located on the southern edge of Puget Sound in Point Ruston, a master-planned, mixed-use urban village. The location puts residents within walking distance of retail establishments, restaurants, a luxury hotel, residential developments, a movie theater, local and organic …

Ciena Healthcare Opens $23M Skilled Nursing Facility in Detroit

DETROIT — Ciena Healthcare has opened Regency at Chene, a $23 million rehabilitation and skilled nursing center located at 2295 E. Vernor Highway in Detroit. The property includes 46 private suites, 55 semi-private suites and four bariatric suites. Each has a private bathroom. Amenities include three dining rooms, lounges, a café, library, beauty shop and salon. More than 200 full-time and part-time employees will work at the 93,652-square-foot

CareTrust REIT Acquires 62-Unit Barton Creek Senior Living in Utah

BOUNTIFUL, UTAH — CareTrust REIT Inc. (NASDAQ:CTRE) has acquired Barton Creek Senior Living, a 62-unit assisted living facility located on the campus of Lake View Hospital in Bountiful, a suburb of Salt Lake City. The acquisition price of the off-market transaction was not disclosed. The Barton Creek facility has been added to CareTrust’s existing master lease with seniors housing operator Bayshire LLC. For the seller, the nonprofit South Davis Community Hospital Campus, the sale was …

M&T Realty Capital: What’s the latest in seniors housing finance?

  At MBA CREF, M&T Realty Capital’s Sean Huntsman met with reporter Nellie Day to discuss the trends he’s seeing in the multifamily and seniors housing sectors. One big takeaway: The current market demands flexibility and diversified lending. M&T Realty Capital Corp.’s lending platform is allowing the company to both succeed and expand — they had a record 2019 in terms of loan production for healthcare and seniors housing sectors. In addition to a robust pipeline of …

Civitas, Journey Capital to Develop 110-Unit Seniors Housing Community in Aledo, Texas

ALEDO, TEXAS — A partnership between Civitas Senior Living and Dallas-based developer Journey Capital will develop Harvest Senior Living, a 110-unit seniors housing community in Aledo, located west of Fort Worth. The 68,000-square-foot community will be situated on 7.5 acres and will feature 70 assisted living units, 20 memory care residences and 20 independent living residences. Amenities will include a salon, creative arts studio and chef-prepared dining options. Construction is scheduled …

Hackensack Meridian Health Opens 100,000 SF Seniors Housing Community Near New York City

MANALAPAN, N.J. — Hackensack Meridian Health has opened The Villas in Manalapan, a seniors housing community located approximately 30 miles east of Trenton. The property spans 100,000 square feet across seven acres and offers independent living, assisted living, memory care and skilled nursing. The number of units was not disclosed. The company is marketing the property to Staten Island residents looking to downsize. Independent living residences are available as studio, one- or two-bedroom …

Ziegler Arranges $35.7M Bond Financing for Seniors Housing Expansion in Greenville

GREENVILLE, S.C. — Ziegler has arranged a total of $35.7 million in bond financing for The Woodlands at Furman, a nonprofit continuing care retirement community (CCRC) in Greenville. Upstate Senior Living Inc. is the owner and operator of the community, which opened in 2009 adjacent to Furman University on land leased by The Furman University Foundation. The property currently features 132 independent living apartments, 28 independent living villas (some of which are under construction), 32 …

Rittenhouse Sells Student Housing Portfolio in Philadelphia for $23.7M

PHILADELPHIA — Rittenhouse Realty Advisors has sold a nine-property student housing portfolio near Temple University in North Philadelphia for $23.7 million. The portfolio comprises 92 units totaling 253 beds. All of the properties in the portfolio were constructed within the last five years, and the majority are two- or three-bedroom units. At the time of sale, the portfolio was 100 percent occupied for the 2019 to 2020 school year. The buyer was

Welltower Agrees to Sell Western Seniors Housing Portfolio for $740M

TOLEDO, OHIO — Welltower (NYSE: WELL) has agreed to sell a portfolio of seniors housing properties in California, Nevada and Washington for more than $740 million. The announcement was made on the company’s fourth-quarter earnings call on Wednesday, Feb. 12. Very few details have been released, however, with Welltower not disclosing the names, locations, buyers or number of properties. The portfolio was 97 percent occupied with a net operating income of $36.7 million in

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