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Seniors Housing

Affordable HousingDevelopmentFloridaSeniors HousingSoutheast

HTG, Mount Hermon AME Church Open $43.5M Affordable Seniors Housing Community in Fort Lauderdale

by John Nelson

FORT LAUDERDALE, FLA. — Housing Trust Group (HTG) and Mount Hermon African Methodist Episcopal (AME) Church have opened Mount Hermon Apartments, a new affordable seniors housing community in Fort Lauderdale. Development costs totaled $43.5 million. Monthly rental rates at the community, which features one- and two-bedroom apartments, range from $433 to $1,422 per month. Units are reserved for seniors earning at or below 25 and 60 percent of the area median income (AMI). According to Apartments.com, the average rental rate for a one-bedroom apartment in Fort Lauderdale is $2,222. Amenities at the property include a rooftop terrace, fitness center, clubroom and community gathering space. Services offered at the community include 24-hour assistance, adult literacy training and support with light housekeeping, grocery shopping and laundry. Financing for the development included $32.6 million in 9 percent low-income housing tax credit (LIHTC) equity syndicated through Raymond James; a $33 million construction loan from TD Bank; a $7.5 million permanent Freddie Mac loan provided and serviced by Berkadia; and a $640,000 loan from the City of Fort Lauderdale. HTG Gomez Construction served as the project’s general contractor. The project team also included architect REP-R-TWAR, civil engineer Thomas Engineering and interior design firm B. Pila …

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Douglas-Care-Mountain-Lodge-Douglas-WY
AcquisitionsMultifamilySeniors HousingWesternWyoming

SLIB Brokers Sale of 74-Unit Seniors Housing Facility in Douglas, Wyoming

by Amy Works

DOUGLAS, WYO. — Senior Living Investment Brokerage (SLIB) has brokered the sale of Douglas Care Center and Mountain Lodge, a senior living and skilled nursing facility located in Douglas. The facility totals 74 units with 96 beds across two adjacent properties, with assisted living, memory care and skilled nursing offerings. Originally built in 1968, Douglas Care Center was renovated in 2010. Mountain Lodge was developed in 2018. Vince Viverito and Jason Punzel of SLIB arranged the transaction. 

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Affordable HousingDevelopmentMultifamilyNortheastSeniors HousingVermont

M&T Realty Capital Provides $5M in Equity for Affordable Housing Redevelopment in Vermont

by Taylor Williams

ORANGE COUNTY, VT. — M&T Realty Capital Corp. has provided $5 million in equity for Chelsea Williamstown Apartments, an affordable housing redevelopment project in Vermont’s Orange County. The project involves the rehabilitation and adaptive reuse of two noncontiguous properties that will add 61 rent-restricted units, many of which will be marketed to seniors, to the local supply. Northfield Savings Bank is financing construction, which is expected to be complete next spring. The owner was not disclosed. M&T also provided a $5.6 million Fannie Mae M.TEB forward commitment as part of the capital stack.

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Brightview-Joy's-Farm-Paramus-New-Jersey
DevelopmentMultifamilyNew JerseyNortheastSeniors Housing

Brightview Underway on 332-Unit Seniors Housing Community in Paramus, New Jersey

by Taylor Williams

PARAMUS, N.J. — Brightview Senior Living is underway on construction of a 332-unit community in the Northern New Jersey community of Paramus. Brightview Joy’s Farm will total 55,192 square feet, with 162 independent living units and a separate, 170-unit assisted living and memory care facility. Amenities will include a clubhouse, pool and both fitness and entertainment areas/venues. Project partners include Market Square Architects, IMC Construction and T&T Construction Management Group Inc. A tentative completion date was not announced.

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Affordable HousingDevelopmentMultifamilyNortheastPennsylvaniaSeniors Housing

Pennrose, PCDC Deliver 51-Unit Affordable Seniors Housing Project in Philadelphia

by Taylor Williams

PHILADELPHIA — A partnership between Pennrose and the Philadelphia Chinatown Development Corp. (PCDC) has delivered Man An House, a 51-unit affordable seniors housing project in the latter entity’s namesake neighborhood. The site is located within an opportunity zone and formerly housed a parking lot. The five-story building features studio, one- and two-bedroom units that are reserved for renters aged 62 and above and who earn between 20 and 60 percent of the area median income.

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AcquisitionsCaliforniaMultifamilySeniors HousingWestern

JCH Negotiates $14.1M Sale of Senior Living Community in California’s Inland Empire

by Amy Works

ANAHEIM HILLS, CALIF. — JCH Senior Housing Investment Brokerage has arranged the sale of an assisted living and memory care facility located in the Inland Empire region of Southern California. A local operator acquired the property for $14.1 million. Licensed for 100 beds, the facility features 86 units. Cindy Hazzard and Jim Hazzard of Anaheim, Calif.-based JCH represented both the buyer and seller in the transaction. 

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AcquisitionsMidwestMinnesotaMultifamilySeniors Housing

New Perspective Acquires Five Senior Living Communities in Metro Twin Cities

by Kristin Harlow

MINNESOTA — New Perspective, a Minnetonka, Minn.-based senior living company, has acquired five properties in the Twin Cities metro area. The communities are located in White Bear Lake, Oakdale, Golden Valley, Rosedale and Minnetonka. Each of the properties offers assisted living and memory care services. Amenities include communal spaces, wellness and recreational programs and chef-prepared meals.  

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DevelopmentLoansMultifamilyNew JerseyNortheastSeniors Housing

MRC, Pearlmark Provide $140M in Financing for Active Adult Project in Cherry Hill, New Jersey

by Taylor Williams

CHERRY HILL, N.J. — New York City-based Madison Realty Capital (MRC) and Chicago-based Pearlmark have provided $140 million in financing for the The Plaza Grande, a 507-unit active adult project located outside of Philadelphia in Cherry Hill. Units are reserved for renters age 55 and above. Amenities include an 18,500-square-foot clubhouse, golf simulator, indoor and outdoor pools, tennis and pickleball courts, a theater, sauna and massage rooms and lounge areas. The borrower, New Jersey-based Procida Funding & Advisors, will use the debt to complete construction and fund lease-up costs.

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DevelopmentFloridaLoansSeniors HousingSoutheast

JLL Arranges Two Construction Takeout Loans Totaling $114M for EDEN Living BTR Projects in Florida

by John Nelson

WEST MELBOURNE AND JACKSONVILLE, FLA. — JLL has arranged $114 million in bridge loans on behalf of BTR developer EDEN Living to refinance existing construction debt on two Florida properties. The package includes a $70 million loan for the 373-unit EDEN at Heritage Lakes in West Melbourne and a $44 million loan for the 265-unit EDEN at Kendall West in Jacksonville. The direct lender of the construction takeout loans was not disclosed. Both properties were developed in 2024. Max La Cava, Melissa Quinn, Rob Rothaug and Jade Starkey of JLL arranged the financing on behalf of the borrower.

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Conference CoverageFeaturesMultifamilySeniors Housing

Design Teamwork Makes the Active Adult Dream Work, Says InterFace Architecture Panel 

by Taylor Williams

By Hayden Spiess DALLAS — Although tenant demand for active adult communities remains strong, the sector is not immune to escalating construction costs, labor shortages, tariffs and general economic uncertainty, say industry professionals. Teamwork across key disciplines can help make clearing those hurdles much easier. “We’re having a hard time getting things to pencil these days,” levels Erin Berry Harps, director of interior design at Direct Supply Aptura, a senior living design and construction firm. Simultaneously, residents are as price conscious as ever, she points out. “We also have increased consumer demand for affordability,” emphasizes Harps.  Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Harps’ assessment came during the 5th annual InterFace Active Adult conference, which was held Wednesday, May 7, at The Westin Las Colinas in Dallas. Harps moderated a panel titled “Architecture, Design & Construction Trends for Active Adult Projects” at the daylong event, which attracted more than 300 industry professionals. In addition to Harps, the panel discussion included Bill Foster, a partner with Lantz-Boggio Architects; Lisa Warnock, principal and founder of Glow Interior Designs; Jarrett Cooper, vice …

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