REBusinessOnline

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 …

Cushman & Wakefield Negotiates Sale of 703-Unit Seniors Housing Portfolio in Vancouver, Washington

VANCOUVER, WASH. — Cushman & Wakefield has arranged the sale of three Class A seniors housing communities in the Portland, Oregon suburb of Vancouver.The 703-unit portfolio spans the care continuum with offerings of active adult apartments, independent living, assisted living and memory care services.The seller, Rood Investments, developed all three communities between 2001 and 2017 in well-amenitized urban areas.Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron …

Mission Senior Living Buys Wheatfields Estates Seniors Housing Community in Clovis, New Mexico

CLOVIS, N.M. — Carson City, Nev.-based Mission Senior Living has acquired Wheatfields Estates Senior Living and Memory Care at 4701 N. Prince St. in Clovis, located in the eastern portion of the state near the Texas border.Wheatfields Estates offers independent living cottages, assisted living, memory care and respite care for seniors. Terms of the transaction were not released.The acquisition brings Mission Senior Living’s portfolio to seven properties in three states, including …

JLL Arranges Construction Financing for 54-Unit Mountain View Memory Care in California

MOUNTAIN VIEW, CALIF. — JLL Capital Markets has arranged an undisclosed amount of construction financing for the redevelopment of Italian restaurant Frankie, Johnnie & Luigi Too! into Mountain View Memory Care, a Class A, 54-unit, 60-bed, private-pay memory care community in the Bay Area city of Mountain View.JLL worked on behalf of the borrower, the D’Ambrosio Family, and its operating partner, Calson Management, to secure the construction financing through a local bank.The …

Ziegler Arranges $24M Construction Loan for Onelife Seniors Housing Community in Springfield, Oregon

SPRINGFIELD, ORE. — Ziegler has acted as financial advisor in a debt placement totaling $24 million for a new seniors housing community in Oregon. The borrower, Onelife Senior Living, will use the funds to develop Esther Assisted Living Community, a 103-unit property in Springfield, a suburb of Eugene. The Esther will be the fifth assisted living/memory care community owned by Onelife in the state.The financing provides a construction and bridge term for Onelife to build and stabilize …

Clearwater Living Nears Completion of 117-Unit Seniors Housing Community in Glendora, California

GLENDORA, CALIF. — Clearwater Living has opened the sales office at Clearwater at Glendora, a 117-unit assisted living and memory support community in Glendora, approximately 25 miles east of Los Angeles.Construction on Clearwater at Glendora began in spring of 2021. The two-story, 117,000-square-foot property is being built on nearly three acres.When it is completed later this year, the community will feature 88 assisted living and 29 memory care apartments with studio, companion, …

Avenida, Artemis to Develop 203-Unit Active Adult Community in Carrollton, Texas

CARROLLTON, TEXAS — Avenida Partners and Artemis Real Estate Partners will develop Avenida Carrollton, an active adult community that will be located on the northern outskirts of Dallas. The 10-acre community will feature 155 market-rate apartments with one- and two-bedroom floor plans, as well as 48 duplex and triplex cottages. The apartments will range in size 686 to 1,285 square feet. The cottages will range in size from 1,360 to 1,490 square feet and will be equipped with attached garages …

Capstone Negotiates $30M Sale of Three Affordable Seniors Housing Properties in Metro Denver

AURORA, DENVER AND GREELEY, COLO. — Capstone Apartment Partners has arranged the $30 million sale of a 184-unit LIHTC apartment portfolio in metro Denver. The names of the seller and buyer were not released.The portfolio comprises three Section 8 seniors housing assets: Aurora Village in Aurora, Kings Point in Denver and University Plaza in Greeley.Sean Holamon, Nik MacCarter and Adam Riddle of Capstone represented the seller in the

SLIB Brokers Sale of 82-Unit Williamsburg Seniors Housing Community in Logan, Utah

LOGAN, UTAH — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Williamsburg, an 82-unit independent living and assisted living community in Logan.Located in the northern portion of Utah near the Idaho border, the facility was built in 1981 and renovated in 2015. It totals approximately 62,953 square feet and is situated on approximately 1.8 acres of land.The seller was a regional owner-operator based in Utah. The buyer is a California-based private owner looking to …

CPP Buys 138-Unit Affordable Seniors Housing Community in Erie, Pennsylvania

ERIE, PA. — Community Preservation Partners (CPP) has acquired Methodist Towers, a 138-unit affordable seniors housing community in Erie. About 40 percent (57) of the 13-story complex’s units receive subsidies under a Section 8 HAP contract. The sales price was not disclosed, but CPP plans to spend $20 million on the acquisition and renovation. CPP received tax-exempt bonds and Low-Income Housing Tax Credits (LIHTCs) from the Pennsylvania Housing Finance Agency (PHFA), with construction and …




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