REBusinessOnline

Highridge Costa, SVA Architects Plan Twin Oaks Seniors Housing Community in Oakley, California

OAKLEY, CALIF. — Highridge Costa Development Co. and SVA Architects Inc. have released plans for Twin Oaks Senior Residence, a mixed-use project in Oakley, located between Sacramento and the Bay Area. The three-story community will feature 98 one-bedroom and 32 two-bedroom units for people age 62 and older. Units are reserved for those earning between 50 percent and 80 percent of the area median income. The project will also include 5,667 square feet of street-fronting commercial space, …

California, Development, Multifamily, Seniors Housing, Western

Blueprint Negotiates Sale of 160-Bed Skilled Nursing Facility in Mesa, Arizona

MESA, ARIZ. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 160-bed skilled nursing facility in Mesa. The property was recently renovated and expanded and is located near multiple medical centers that refer residents to the facility. A buyer with an existing footprint in the market acquired the asset for an undisclosed price. The transaction is part of a series of sales that Blueprint arranged for LTC properties, which is divesting its entire portfolio of …

Acquisitions, Arizona, Multifamily, Seniors Housing, Western

Casa Underway on 26-Unit Senior Living Community in Shrewsbury, Massachusetts

SHREWSBURY, MASS. — Massachusetts-based Casa Builders and Developers is underway on construction of Wyman Farms, a 26-unit senior living community in Shrewsbury, an eastern suburb of Worcester. The property will feature 13 duplex-style residences with two bedrooms each that will be restricted to residents age 55 and older. The property is located near UMass Memorial Medical Center University Campus, multiple golf courses and retailers such as Wegmans, Walmart and Whole Foods Market. The …

Development, Massachusetts, Multifamily, Northeast, Seniors Housing

Blueprint Negotiates Sale of 160-Bed Skilled Nursing Facility in Mesa, Arizona

MESA, ARIZ. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 160-bed skilled nursing facility in Mesa. The property was recently renovated and expanded, and is located near multiple medical centers that refer residents to the facility. A buyer with an existing footprint in the market acquired the asset for an undisclosed price. The transaction is part of a series of sales that Blueprint arranged for LTC properties, which is divesting its entire portfolio of …

Acquisitions, Arizona, Multifamily, Seniors Housing, Western

Cushman & Wakefield Brokers $22.2M Sale of Seniors Housing Community in Stuart, Florida

STUART, FLA. — Cushman & Wakefield Senior Housing Capital Markets has brokered the $22.2 million sale of The Pointe at Ocean Boulevard, an independent living community in Stuart. Sentio Investments sold the seniors housing asset to an affiliate of Waypoint Real Estate Investments. Arrow Senior Living has been retained to operate the community. The Pointe at Ocean Boulevard features 150 units and is located at 2750 SE Ocean Blvd., a mile west of the Atlantic Ocean and three miles east of …

Acquisitions, Florida, Multifamily, Seniors Housing, Southeast

Sunshine Retirement Rolls Out Portfolio-Wide COVID-19 Testing

BEND, Ore. — Sunshine Retirement Living, a Bend-based seniors housing operator with 32 communities in 16 states, now offers FDA-approved “Respira-ID” testing for COVID-19 at all its properties. Residents and employees that are exhibiting symptoms will now all be tested, as well as any new residents moving in regardless of symptoms. Produced by Vikor Scientific, Respira-ID tests for over 40 pathogens known to cause respiratory illness including COVID-19. The manufacturer will provide …

Company News, Multifamily, Seniors Housing, Western

Dougherty Mortgage Originates $6.7M Refinancing for Seniors Housing Property in Roseville, Minnesota

ROSEVILLE, MINN. — Dougherty Mortgage has provided a $6.7 million HUD loan for the refinancing of Roseville Seniors, a 127-unit affordable seniors housing property in Roseville. All of the units are restricted to elderly or disabled residents. The 35-year loan, which was the refinancing of an existing HUD loan through the Section 232 mortgage insurance program, is fully amortizing. The financing will enable the borrower, Good Neighbor Senior Apartments LP, to reduce its interest rate and …

Loans, Midwest, Minnesota, Multifamily, Seniors Housing

Atlantic Housing Partners Delivers $14.8M Affordable Seniors Housing Facility in Palm Coast, Florida

PALM COAST, FLA. — Atlantic Housing Partners LLLP has opened Central Landings Senior Living, a $14.8 million affordable seniors housing community in Palm Coast. The 83-unit facility is reserved for those 62 years of age and older earning between 40 and 80 percent of the area median income. The property offers one- to three-bedroom floor plans. Each unit features granite countertops, CleanSteel appliances and screened-in patios. Communal amenities include a clubhouse with a dedicated senior …

Development, Florida, Multifamily, Seniors Housing, Southeast

Skender Completes Construction of 60-Unit Senior Living Facility in Crystal Lake, Illinois

CRYSTAL LAKE, ILL. — Skender has completed the construction of Residences of Crystal Lake, an affordable independent senior living facility in Crystal Lake. Turnstone Development owns the 60-unit, 63,000-square-foot property. Residents have access to a fitness area, theater room, community rooms, computer rooms, a gazebo and outdoor spaces. Residents must be age 55 or older and meet the annual income restriction. The project team included UrbanWorks, Groundwork, DKI and TH Associates. …

Development, Illinois, Midwest, Multifamily, Seniors Housing

ESI Brokers Sale of 57-Bed Skilled Nursing Facility in Providence, Rhode Island

PROVIDENCE, R.I. — Evans Senior Investments (ESI) has brokered the $4.3 million sale of Elderwood at Riverside, a 57-bed skilled nursing facility in Providence. The property was constructed in 1962. The seller, an East Coast-based owner-operator, initially acquired the asset  with the intent to move the licensed beds to a different county in Rhode Island. When regulatory obstacles prevented moving the licensed beds across county lines, the owner decided to exit the property through a sale at …

Acquisitions, Multifamily, Northeast, Rhode Island, Seniors Housing
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