REBusinessOnline

Lytle Enterprises Receives $15M in Financing for Seniors Housing Property in Everett, Washington

EVERETT, WASH. — Greystone has arranged $15 million in financing for Washington Oakes, a 152-unit seniors housing property in Everett, a northern suburb of Seattle.Tyler Armstrong of Greystone originated the transaction on behalf of Lytle Enterprises LLC.Washington Oakes features studio, one-, two- and three-bedroom units and offers independent living and assisted living services. Leisure Care LLC is the operator.A life insurance company provided the nonrecourse, fixed-rate loan, …

Evergreen Real Estate Group, CJE SeniorLife Complete $25M Affordable Seniors Housing Community in Evanston, Illinois

EVANSTON, ILL. — Evergreen Real Estate Group and Council for Jewish Elderly, doing business as CJE SeniorLife, have completed Ann Rainey Apartments, a $25 million affordable seniors housing community in Evanston. The 60-unit project is located at 1011 Howard St. next to the existing CJE SeniorLife Adult Day Services Center, which provides programming and socialization opportunities for seniors who require supervision.The new community is named for Ann Rainey, who served as alderman of …

SilverPoint, Journey Capital to Develop 101-Unit Seniors Housing Project in Fort Worth

FORT WORTH, TEXAS — Two Texas-based firms, SilverPoint Senior Living and Journey Capital, have unveiled plans for the development of Edition Senior Living of Fort Worth. Initial plans call for 101 assisted living and memory care units set in a 100,000-square-foot community on nine acres. There are also long-term plans to expand and add independent living facilities. This community will be the fifth collaboration between SilverPoint and Journey Capital. Construction is scheduled to begin …

Blueprint Negotiates $10.5M Sale of Skilled Nursing Facility in Temple, Texas

TEMPLE, TEXAS — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 70-unit transitional care facility in Temple, approximately 70 miles north of Austin. Mainstreet developed the newly constructed healthcare property but never opened it. An undisclosed, Texas-based investor acquired the asset for $10.5 million. The new owner structured a lease with a national healthcare system based out of Southern California and will operate the facility as a specialty post-acute

Blueprint Arranges Sale of 164-Unit Ivystone Senior Living in Pennsauken, New Jersey

PENNSAUKEN, N.J. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Ivystone Senior Living in Pennsauken, located across the Delaware River from Philadelphia.  The community features 100 independent living residences, 43 assisted living units and 21 memory care units. The property was originally constructed in 1965. Priority Life Care, a court-ordered receiver as the property was in bankruptcy, sold the asset to UNPPG Management LLC, a privately held owner-operator based in …

JLL Funds $30.3M Refinancing for Nantucket Creek Active Adult Community in Los Angeles

LOS ANGELES — JLL Capital Markets has provided a $30.3 million loan to refinance Nantucket Creek, a 172-unit, garden-style, age-restricted apartment community in the Chatsworth neighborhood of Los Angeles.JLL worked on behalf of the borrower, Universe Holdings, to secure the 10-year, fixed-rate loan through Freddie Mac. JLL Real Estate Capital LLC will service the loan.Proceeds from the loan also provided a return of equity to Universe’s balance sheet, which the company plans to use …

Partnership Receives $100M in Financing for Affordable Housing Project in The Bronx

NEW YORK CITY — A partnership between multifamily owner-operator Asland Capital Partners and locally based investment firm Pembroke Residential Holdings has received $100 million in financing for the development of a 154-unit affordable housing project in the Soundview neighborhood of The Bronx. Residences will be reserved for renters age 62 and above with income levels that represent various percentages of the area median income. In addition, 30 percent of the units will be set aside for …

Four Ways Technology Can Keep Onsite Multifamily Staff Happier During the Great Resignation

The Great Resignation. The Big Quit. Call it what you will. The widespread trend of employees leaving their jobs in 2021 and 2022 has placed a burden on onsite property management staff at multifamily communities.Like other industries nationwide, the multifamily industry has been hit hard by this period where record numbers of employees are leaving their current positions.According to the National Apartment Association (NAA), rental owners and operators have reported up to 70 percent of …

Colliers Mortgage Provides $25.2M HUD-Insured Loan for Refinancing of Minnesota Seniors Housing Community

WEST ST. PAUL, MINN. — Colliers Mortgage has provided a $25.2 million HUD 223(f) loan for the refinancing of The Winslow in West St. Paul. The 172-unit affordable seniors housing community rises four stories. Units are restricted to persons age 62 and above and who earn up to 60 percent of the area median income. Amenities include a clubroom, theater, fitness center, salon, game room and outdoor deck. An entity doing business as WSP Senior Housing I LLLP was the borrower. The fixed-rate loan …

Kaplan Cos. Opens 222-Unit Active Adult Community in North Brunswick, New Jersey

NORTH BRUNSWICK, N.J. — Kaplan Cos. has opened Amaranth at North Brunswick, a 222-unit active adult community located approximately midway between New York City and Philadelphia. Apartments range in size from 823 to 1,397 square feet. Amenities include a resident lounge, demonstration kitchen, card room, doggie day spa, yoga studio with interactive mirrors and a package room. Kaplan is also underway on its second Amaranth development in nearby East Windsor. Information on starting rents was …




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