SLIB Negotiates $8M Sale of Manor Hills Assisted Living Facility in Wellsville, New York

WELLSVILLE, N.Y. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Manor Hills Assisted Living for $8 million. Located in Wellsville, near the New York-Pennsylvania border, the asset features 89 assisted living and memory care units and was built in 1989. The seller was a private owner that previously divested its skilled nursing portfolio. The privately held buyer was an Albany, N.Y.-based seniors housing owner-operator. Dave Balow from SLIB handled the

After 18 Months, Seniors Housing Operators More Adept at Handling COVID-19 Crisis, Says InterFace Panel

ATLANTA — Seniors housing operators have been grappling the past 18 months with how to maintain their properties and keep occupancy high while also protecting their staff and residents, who are the most vulnerable population for infections and death from the COVID-19 outbreak. With the rise of the Delta variant in recent weeks, owners and operators are having to make tough decisions to care for their residents, although now they have built some muscle memory on how to operate effectively amid …

CBRE Arranges $10M Financing for Emerald City Senior Living in Seattle

SEATTLE — CBRE Senior Housing has arranged $10 million in financing for Emerald City Senior Living, a 119-unit assisted living and memory care community in Seattle.The community sits six miles north of downtown Seattle within the Maple Leaf neighborhood, a burgeoning and affluent residential area of Seattle. Built in 2006 by a seniors housing architect, the community features high-end amenities.Aron Will, Austin Sacco and Adam Mincberg of CBRE Senior Housing, arranged the financing on …

Volunteers of America Breaks Ground on Desert Oasis Affordable Seniors Housing Expansion In Las Vegas

LAS VEGAS — Volunteers of America National Services (VOANS) has broken ground on Phase II of Desert Oasis, an affordable seniors housing property in Las Vegas.Phase II will add 43 new units to the existing 75 units in the Desert Oasis community. The building will include a recreational clubhouse facility with a computer room, exercise room, laundry facilities and a community garden.Desert Oasis will be built with energy-efficient systems using green building techniques and including …

In Seniors Housing, Investment Decisions Should Be Based on Trusted Partners, Say InterFace Panelists

ATLANTA — The beginning of the COVID-19 pandemic made everyone question the future, and for investors and owners in the seniors housing business sector, things were rocky. The National Investment Center for Seniors Housing and Care reported the occupancy rate in seniors housing facilities decreased 680 basis points in 2020 to record lows.In 2021, there has been a renewed confidence in the economy as people return to working in an office and many Americans have been fully vaccinated …

Fitness Centers, Outdoor Spaces and Units All Becoming Larger, Say Seniors Housing Development Panelists

ATLANTA — Driven by the desire of a healthy lifestyle, two areas that senior living developers are currently focusing on are the fitness center and outdoor spaces, according to Scott Gensler, vice president of business development with Erickson Senior Living. “Every time I look at a plan, the fitness center gets bigger and bigger and bigger,” said Gensler. “Then we open it, and it’s still not big enough.”Not only is the fitness center becoming larger, but it’s also becoming …

Knapp Group Brokers $10.2M Sale of Seniors Housing Community in Central Maine

MAINE — The Knapp-Stahler Seniors Housing Group of Marcus & Millichap has brokered the sale of an unnamed continuing care retirement community (CCRC) in central Maine. The site of the 121,677-square-foot property spans an entire city block, totaling 3.6 acres. The occupancy rate has consistently been over 90 percent, according to the brokers. The sales price was $10.2 million, but details on the buyer and seller were not disclosed. The lead agent for this transaction was Jim

Link Senior Development, MedCore Partners Plan 202-Unit Seniors Housing Community in Buckeye, Arizona

BUCKEYE, ARIZ. — Link Senior Development and MedCore Partners have unveiled plans for Ativo of Sundance, a 202-unit senior living community inside the Sundance Active Adult master-planned community in the Phoenix suburb of Buckeye.The campus will offer 103 independent living, 75 assisted living and 24 memory care units on a 10-acre tract. Construction of the 211,000-square-foot, three story project is scheduled to begin in late 2021 for an anticipated opening in summer 2023.Insight …

LifeCare, ERG Enterprises to Develop 100,000 SF Seniors Housing Community in Tyler, Texas

TYLER, TEXAS — Seniors housing developer LifeCare Properties and New Orleans-based investment firm ERG Enterprises will develop The Blake at Tyler, a 100,000-square-foot community that will be located about 100 miles east of Dallas. The property, the number of units of which was not disclosed, will be situated within The Crossing mixed-use development. The Blake at Tyler will offer assisted living units in various floor plans and studio and one-bedroom memory care units. Blake Management …

Plains Commercial Brokers Sale of 115-Bed Skilled Nursing Facility in Benbrook, Texas

BENBROOK, TEXAS — Plains Commercial has brokered the sale of Benbrook Nursing & Rehab, a 115-bed skilled nursing facility in Benbrook, approximately 10 miles southwest of Fort Worth. The property was originally built in 1969. The seller was a regional owner-operator that decided to cull its portfolio and exit the Dallas-Fort Worth metroplex. The buyer was a regional owner-operator looking to expand its Texas portfolio via a 1031 exchange. Daniel Morris of Plains Commercial brokered the …

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