REBusinessOnline

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 …

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 …

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. …

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 …

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 …

Ensign Group Acquires 297-Bed Skilled Nursing Portfolio in Southern California

SAN DIEGO, FULLERTON AND HAWTHORNE, CALIF. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of three skilled nursing facilities in Southern California on a triple-net lease basis.The properties include Golden Hill Post Acute, a 99-bed facility in San Diego; St. Catherine Healthcare, a 99-bed facility in Fullerton; and Camino Healthcare, a 99-bed facility in Hawthorne.This acquisition brings Ensign’s growing portfolio to 231 healthcare operations, 24 of which also …

Draper & Kramer Acquires 121-Unit Seniors Housing Community in Metro Dallas

MCKINNEY, TEXAS — Chicago-based Draper & Kramer has acquired Adriatica Senior Living, a 121-unit community located in the northern Dallas suburb of McKinney. The property was built in 2017 and features one- and two-bedroom units that range in size from 806 to 1,370 square feet. Amenities include a community dining room, resident lounge for socializing, beauty salon, business center, movie room, wellness studio and a game room. The seller was not

Seniors Housing Struggles Will Continue Through Mid-2021, Say InterFace Panelists

With two approved vaccines to combat COVID-19, the end of the pandemic is visible on the horizon. However, some seniors housing experts say it may be the third quarter of 2021 before the sector starts to see the turnaround take hold.“We have a much clearer picture of what the post-COVID world will look like,” said Adam Heavenrich, managing director of Heavenrich & Company. “The COVID world of 2020 will hopefully look drastically different from the post-COVID world of …

Kisco Buys 139-Unit Seniors Housing Community in Irvine, California

IRVINE, CALIF. — Kisco Senior Living has acquired Atria Park of Woodbridge, a 139-unit seniors housing community in Irvine, approximately 40 miles southeast of downtown Los Angeles.Healthpeak sold the 103,000-square-foot property for an undisclosed price. The seller recently completed a $9 million renovation at the community that converted some assisted living units into a memory care neighborhood.In addition to taking over management duties from Atria Senior Living, Kisco plans to …

Redevelopment Authority Selects Tryko Partners for Seniors Housing Project in Pittsburgh

PITTSBURGH — The Urban Redevelopment Authority of Pittsburgh has tapped New Jersey-based Tryko Partners to redevelop the former Fairywood School into a 46-unit affordable housing community for seniors age 62 and older. The majority of the units (39) will be reserved for renters earning 60 percent or less of the area median income. The new community will feature one-bedroom units surrounded by walkable green space. A community building will allow residents to take advantage of financial …

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