REBusinessOnline

90-Unit Independent Living Community in Minnesota Trades Hands

RED WING, MINN. — Downtown Plaza, a 90-unit independent living community in Red Wing, has traded hands for an undisclosed price. The property is located at 434 W. 4th St. along the Mississippi River in eastern Minnesota. Built in 1986, the community was renovated over the last several years. The ninth-floor community room received an extensive upgrade with new finishes and furniture. Other amenities include a recreation center, beauty and barber shop, dining room and fitness center. Ted …

Acquisitions, Midwest, Minnesota, Multifamily, Seniors Housing

InterFace Panel: Seniors Housing Development Pushes Forward Despite Many COVID Delays

Seniors housing construction has continued during the COVID-19 pandemic — but perhaps not on the developers’ original timelines.“We have seen just about every obstacle thrown at us, from government shutdowns to disruptions in the supply chain to subcontractors contracting COVID to inspectors not showing up,” said Charlie Jennings, chief development officer, Harbor Retirement Associates. “Every time I start to think the worst is behind us, there’s something waiting around the …

Development, Features, Multifamily, Seniors Housing

SLIB Arranges $7.8M Sale of FountainWood Lodge Assisted Living Community in Orangevale, California

ORANGEVALE, CALIF. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of FountainWood Lodge, a 90-unit assisted living and memory care community in Orangevale, a suburb of Sacramento.The community was built in 1981 and has undergone several renovations. The 63,930-square-foot building is located on six acres of land.The seller is a nonprofit owner-operator. A regional owner-operator acquired the property for $7.8 million.Brad Goodsell, Jason Punzel and Vince …

Acquisitions, California, Multifamily, Seniors Housing, Western

McShane to Build 138-Unit Seniors Housing Property Near Nashville for Avenida Partners

HENDERSONVILLE, TENN. — Avenida Partners has selected McShane Construction Co. to build Avenida Hendersonville, a 138-unit active adult community in the Nashville suburb of Hendersonville. The three-story building will be positioned on a five-acre site. The community will offer 6,000 square feet of amenities. Completion of Avenida Hendersonville is slated for May 2022. This will be Newport Beach, Calif-based Avenida’s third active adult community in Tennessee and seventh overall in five …

Development, Multifamily, Seniors Housing, Southeast, Tennessee

Cushman & Wakefield Arranges $29.8M Construction Loan for Metro Boston Seniors Housing Project

HANOVER, MASS. — Cushman & Wakefield has arranged a $29.8 million loan for the construction of Benchmark of Hanover, a seniors housing project that will be located approximately 20 miles south of Boston. The borrower is a joint venture between Benchmark Senior Living and Iron Point Partners LLC. The property will feature 97 units of assisted living and memory care. Rick Swartz, Jay Wagner, Sam Dylag, Jack Griffin and Joseph Carbone of Cushman & Wakefield placed the debt through an …

Loans, Massachusetts, Multifamily, Northeast, Seniors Housing

Colliers Negotiates $13.7M Sale of Seniors Housing Portfolio in Central Florida

PORT RICHEY, ZEPHYRHILLS AND CASSELBERRY, FLA. — Colliers International has negotiated the $13.7 million sale of a three-property assisted living facility portfolio in Port Richey, Zephyrhills and Casselberry. Florida Seniors Properties Inc. sold the portfolio, which was 66 percent occupied at the time of sale. Best Care Senior Living LLC acquired The Cottages in Port Richey, which is located about 37 miles northwest of downtown Tampa. A joint venture between 201 Sunset Drive LLC and 6701 …

Acquisitions, Florida, Multifamily, Seniors Housing, Southeast

Presidium Completes 188-Unit Active Adult Project in Frisco

FRISCO, TEXAS — Texas-based developer Presidium has completed construction of Presidium at Edgestone, a luxury active adult community in Frisco, a northern suburb of Dallas. Designed by Cross Architects and SeeSaw Creative, the 165,398-square-foot property features 188 units on 18 acres near a variety of commercial and retail developments, as well as 10 golf courses, several walking trails and the upcoming 275-acre Grand Park. The community offers freestanding independent living cottages in …

Development, Multifamily, Seniors Housing, Texas

Civitas, StoneCreek Plan 104-Unit Seniors Housing Redevelopment Project in Houston

HOUSTON — Seniors housing operator Civitas Senior Living and developer StoneCreek Real Estate Partners will redevelop the Copperfield Racquet & Health Club, a 98,000-square-foot seniors housing community in Houston. The new property, which will be branded StoneCreek of Copperfield, is situated on 6.6 acres and will feature 12 independent living villas, 74 assisted living units and 18 memory care units. Project partners include Pi Architects and interior design firm Senior By Design. …

Development, Multifamily, Seniors Housing, Texas

Cushman & Wakefield Arranges Acquisition Financing for Seniors Housing Portfolio in New Jersey

CHERRY HILL, VOORHEES AND STAFFORD TOWNSHIP, N.J. — Cushman & Wakefield has arranged an undisclosed amount of acquisition financing for a three-property seniors housing portfolio in New Jersey. The borrower was a joint venture between Chicago-based Harrison Street and LCB Senior Living. The communities, which are all operated under the Atria brand, total 263 units of assisted living and memory care. Two properties are located in the Philadelphia suburbs of Cherry Hill and Voorhees, while …

Loans, Multifamily, New Jersey, Northeast, Seniors Housing

Aegis Living, Blue Moon Capital Buy Seniors Housing Portfolio in Western US from Healthpeak for $350M

BELLEVUE, WASH. AND BOSTON — Aegis Living, a seniors housing owner and operator based in Bellevue, has acquired 10 properties from Healthpeak Properties Inc. (NYSE: PEAK). Aegis already operated the communities under a lease agreement with Healthpeak Properties, a Denver-based real estate investment trust (REIT).Aegis’ joint venture partner on the $350 million acquisition is Blue Moon Capital Partners LP, a Boston-based private equity investor in the seniors housing sector.The …

Acquisitions, California, Nevada, Seniors Housing, Top Stories, Washington, Western
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