REBusinessOnline

NorthMarq Arranges $31M Refinancing for Seniors Housing Property in Rancho Cucamonga, California

RANCHO CUCAMONGA, CALIF. — NorthMarq has arranged $31 million in refinancing for Merrill Gardens Rancho Cucamonga, a seniors housing property located at 9942 Highland Ave. in Rancho Cucamonga.Built in 2018 on 4.2 acres, the property features 112 independent living, assisted living and memory care units.Stuart Oswald and Gordan Mickelson of NorthMarq secured the permanent, fixed-rate loan for the borrower through its relationship with a correspondent life insurance company. The loan, …

California, Loans, Multifamily, Seniors Housing, Western

Link Senior Development, Insight Senior Living Start Construction of Ativo Senior Living of Prescott Valley, Arizona

PRESCOTT VALLEY, ARIZ. — Link Senior Development and Insight Senior Living have started construction of Ativo Senior Living of Prescott Valley.Located near Bob Edwards Park, the 5.3-acre campus consists of 130 residences across more than 117,000 square feet. The community will include a mix of independent living, assisted living and memory care units ranging from studio apartments to two-bedroom cottages.The community is scheduled to open in summer 2022.Link Senior Development …

Arizona, Development, Multifamily, Seniors Housing, Western

Walker Real Estate, Chalk Hill Ventures Complete Active Adult Community in Georgetown, Texas

GEORGETOWN, TEXAS — Walker Real Estate and Chalk Hill Ventures have completed construction of an active adult community in Georgetown, a northern suburb of Austin. Located on a 12-acre site near Rabbit Hill, NorthStar Georgetown includes 298,800 square feet of active adult living comprising 210 apartments. Roscoe Property Management is the operator. Other project partners include Pi Architects, Square One Consultants, Pat Berry Design and Skybeck

Development, Multifamily, Seniors Housing, Texas

Acts Retirement Begins $10M Expansion Project at Senior Living Community in Moorestown, New Jersey

MOORESTOWN, N.J. — Acts Retirement-Life Communities has begun a $10 million renovation and expansion project at The Evergreens, a senior living community in Moorestown, a suburb of Philadelphia. The renovations feature new construction and upgrades to existing common areas throughout the property, which is home to approximately 216 residents. The project is scheduled to take approximately two years to complete. The Evergreens’ 32-acre campus includes 200 independent living apartment homes, …

Development, Multifamily, New Jersey, Northeast, Seniors Housing

JLL Capital Markets Arranges Development Financing for 92-Unit Seniors Housing Project in Santa Rosa, California

SANTA ROSA, CALIF. — JLL Capital Markets has arranged financing for development of The Lodge at Piner Road, a 92-unit seniors housing community.Blue Mountain Enterprises and Calson Management are developing the property, located in Santa Rosa, part of Sonoma County.Although the amount of the financing was undisclosed, it represents a 75 percent loan-to-cost ratio. A private lender provided the funds.The Class A property will total 37,762 square feet and consist of 66 assisted …

California, Development, Loans, Multifamily, Seniors Housing, Western

Capitol Seniors Housing Opens The Residences at Plainview on Long Island

PLAINVIEW, N.Y. — Capitol Seniors Housing has opened The Residences at Plainview, a 114-unit independent living community in the Long Island hamlet of Plainview. Chelsea Senior Living operates the 150,000-square-foot community, the site of which formerly housed a Residence Inn by Marriott hotel prior to its conversion to seniors housing. Meyer Senior Living Studio was the designer for the project, while E.W. Howell Construction Group was the general

Development, Multifamily, New York, Northeast, Seniors Housing

Multifamily Investors Await Clarity on Nashville’s Economic Recovery

Owners and buyers remain apart on pricing. Unlike some densely populated urban areas where the extent of the damage to local commercial real estate operations is unknown, the gap in Nashville persists due to uncertainty regarding the upside potential rather than downside risks. Owners are hesitant to list properties because the metro remains a safe portion of their portfolios. If this disconnect persists, pricing will return to pre-recession levels before many other areas of the country.In …

Affordable Housing, Market Reports, Multifamily, Seniors Housing, Southeast, Southeast Market Reports, Student Housing, Tennessee

Cadence McShane Completes 197-Unit Affordable Seniors Housing Project in San Antonio

SAN ANTONIO — General contractor Cadence McShane has completed Brookwood Senior Apartments, a 197-unit affordable housing project in San Antonio catering to senior citizens. Designed by B&A Architects, the six-acre property features one- and two-bedroom units. Amenities include a clubroom, fitness center, dining area, lounge, arts and crafts studio, game room, salon and self-storage rooms. Outdoor amenities include a pool, herb garden and two courtyards. The property also houses carports …

Affordable Housing, Development, Multifamily, Seniors Housing, Texas

MorningStar, Hines Near Completion of 112-Unit Seniors Housing Facility in Houston

HOUSTON — Denver-based operator MorningStar Senior Living and Houston-based real estate giant Hines are nearing completion of MorningStar Assisted Living & Memory Care at River Oaks, a 112-unit seniors housing facility in Houston. The six-story community will feature 85 assisted living residences and 27 memory care suites. The site is bordered by River Oaks, West University, The Texas Medical Center, Montrose, Downtown and the Galleria. The opening is set for this

Development, Multifamily, Seniors Housing, Texas

Atria Opens 200-Unit Seniors Housing Community in San Jose, California

SAN JOSE, CALIF. — Atria has completed construction of Atria Almaden, a 200-unit seniors housing community in the Almaden neighborhood of San Jose.The property is located near Almaden Lake Park, Santana Row and the San Pedro Square Market. The four-story community offers assisted living and memory care.Atria opened the community with aggressive infectious disease control measures under a health and safety initiative. The company vaccinated its first residents and staff on Dec. 21 and …

California, Development, Multifamily, Seniors Housing, Western
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