Seniors Housing

Ryan Cos. Completes 182-Unit Seniors Housing Community Near San Diego

by Amy Works July 21, 2020

RANCHO BERNARDO, CALIF. — Ryan Cos. has completed construction of Silvergate Rancho Bernardo, an 11-acre seniors housing campus in Rancho Bernardo, approximately 25 miles north of San Diego. AmeriCare Health & Retirement developed the community, which Ryan Cos. built. The development features of 20 cottages, 108 apartments, six penthouse units and 48 memory care units, and was 90 percent pre-leased. The apartments range from 400 square feet to 1,200 square feet, while the cottages run between 1,400 square feet and 1,600 square feet. Silvergate Rancho Bernardo is AmeriCare’s third development of its kind and is considered the company’s flagship community. Warner Design Associates handled interior design.

July 21, 2020

Development Multifamily Seniors Housing Texas

Investcor Completes Renovations of Historic Fairhaven Assisted Living Facility in Denton

by Taylor Williams July 20, 2020

DENTON, TEXAS — Investcor has completed the renovation of Fairhaven Assisted Living, a historic seniors housing building in Denton. The development team for the 47-unit project included Pi Architects, Coastal Reconstruction, Allison Engineering, TDi Engineering, MEP Associates Design Groups and Architexas. The original building was designed by Texas architect O’Neil Ford, whose designs blended the surrounding environment into the building and featured the use of natural elements and materials. Fairhaven was originally developed in the 1950s, but closed in 2007 and fell into disrepair. After teaming with New Haven Assisted Living and Memory Care, Investcor launched the renovation a year ago.

July 20, 2020

Acquisitions Multifamily Seniors Housing Texas

SLIB Negotiates Sale of 60-Bed Skilled Nursing Facility in Johnson City, Texas

by Taylor Williams July 20, 2020

JOHNSON CITY, TEXAS— Senior Living Investment Brokerage (SLIB) has negotiated the sale of LBJ Medical Center, a 60-bed skilled nursing facility in Johnson City, approximately 45 miles west of Austin. The property was built on 2.6 acres in 1989 and totals 16,045 square feet. A local owner-operator exiting the seniors housing industry sold the asset to a regional owner-operator based in Texas that will implement a capital improvements program. Matthew Alley of SLIB arranged the transaction.

July 20, 2020

Loans Multifamily Northeast Pennsylvania Seniors Housing

Ziegler Arranges $53M Construction Loan for Seniors Housing Expansions in Pennsylvania

by Taylor Williams July 20, 2020

MANHEIM AND LITITZ, PA. — Ziegler has arranged a $53 million construction loan for two seniors housing expansion projects in Pennsylvania. The first project, West Lawn Apartments, will consist of two buildings containing 18 independent living units located on Pleasant View’s existing continuing care retirement community in the South Central Pennsylvania borough of Manheim. This community was originally built in 1954 and features 152 independent living apartments and cottages, 95 personal care units and 115 skilled nursing beds. The second project, the Lofts at Lititz, will consist of 32 independent living units on the site of the historic Wilbur Chocolate Factory in downtown Lititz, a neighboring town. The borrower was Pleasant View Communities.

July 20, 2020

Development Florida Multifamily Seniors Housing Southeast

ConcordRents Breaks Ground on $32M Affordable Seniors Housing Community on Florida’s Space Coast

by Alex Tostado July 17, 2020

VIERA, FLA. — ConcordRents has started construction of Venue at Viera Senior Living Apartments, a $32 million, 145-unit affordable seniors housing community in Viera, a master planned community located on Florida’s Space Coast near Melbourne. Units are reserved for seniors making between 40 percent and 80 percent of the area median income (AMI). Funding for Venue at Viera Senior Living comes from $16.8 million in tax-exempt bonds issued by the Brevard County Housing Finance Authority and $11 million in equity from the sale of Federal Housing Tax Credits allocated through Florida Housing Finance Corp. The developer, Atlantic Housing Partners, also provided some funding sources.

July 17, 2020

Acquisitions Multifamily Seniors Housing Texas

SLIB Brokers $8M Sale of Bishop Davies Nursing Care Center in Hurst, Texas

by Taylor Williams July 17, 2020

HURST, TEXAS — Senior Living Investment Brokerage (SLIB) has brokered the sale of Bishop Davies Nursing Care Center, a 161-bed skilled nursing facility in Hurst, located between Dallas and Fort Worth. An owner-operator looking to exit the industry sold the property to a regional seniors housing owner-operator from Louisiana for $8 million. The 70,000-square-foot facility sits on a 5.2-acre lot and was 74 percent occupied at the time it was listed.

July 17, 2020

Acquisitions Arizona Multifamily Seniors Housing Western

Marcus & Millichap Brokers $5M Acquisition of Sunland North Apartment Complex in Arizona

by Amy Works July 17, 2020

MESA, ARIZ. — Marcus & Millichap has arranged the purchase of Sunland North, an age-restricted apartment complex located at 4740 E. Broadway Road in Mesa. A developer acquired the property from an undisclosed seller for $5 million. Built in 1984, the 35,000-square-foot property features 23 one-bedroom/one-bath units and 22 two-bedroom/one-bath units for residents age 55 or older. All units feature washer/dryer hookups and patios. Community amenities include a swimming pool, office, storage sheds and covered parking. Paul Bay of Marcus & Millichap’s Phoenix office procured the buyer in the deal.

July 17, 2020

Development Illinois Midwest Multifamily Seniors Housing

Pathway to Living Opens 117-Unit Senior Living Community in La Grange, Illinois

by Kristin Harlow July 17, 2020

LA GRANGE, ILL. — Pathway to Living has opened Aspired Living of La Grange in Illinois. The 117-unit, 118,583-square-foot senior living community is located at 35 Shawmut Ave. The five-story property features 85 assisted living units and 32 memory support units. Amenities include a physician office, medical exam room, fitness center, library, movie theater, salon and outdoor walking paths. Thoma Holec provided interior design services while Behles + Behles provided architectural services. Opus Group was the design-builder, architect and structural engineer. This is Pathway to Living’s 23rd community in the Chicagoland area.

July 17, 2020

Development Florida Multifamily Seniors Housing Southeast

ZOM, Watermark Acquire Two Development Sites for Planned Seniors Housing Communities in South Florida

by Alex Tostado July 14, 2020

CORAL GABLES AND WEST PALM BEACH, FLA. — ZOM Senior Living and Watermark Retirement Communities have acquired two seniors housing development sites in Coral Gables and West Palm Beach. The Watermark at Merrick Park in Coral Gables will comprise 196 units including independent living, assisted living and memory care, with 50,000 square feet of amenities. The Watermark at West Palm Beach will feature 154 units of independent living, assisted living and memory care with 30,000 square feet of amenities. M&T Bank provided construction financing for the West Palm Beach project, while PNC Bank funded the Coral Gables project. MSA Architects and Lemay-Escobar Design designed both communities. Verdex Construction will build the West Palm Beach property, while Kast Construction will construct the Coral Gables property. Groundbreaking is slated for later this summer on both projects.

July 14, 2020

Acquisitions California Multifamily Seniors Housing Washington Western

MedCore Partners Purchases 582-Unit Seniors Housing Portfolio in Washington, California

by Amy Works July 13, 2020

WASHINGTON AND CALIFORNIA — MedCore Partners and The National Realty Group, together with BMO Harris Bank and Locust Point Capital, have acquired a 582-unit independent living, assisted living and memory care portfolio in seven markets in Washington and California. The communities in the initial acquisition include five assets in Washington: Birchview Memory Care in Sedro-Wooley with 60 units Discovery Memory Care in Sequim with 55 units The Sequoia in Olympia with 92 units the 72-unit Cooks Hill Manor in Centralia the 136-unit The Village in Tacoma. the 91-unit Del Obispo Terrace in San Juan Capistrano the 76-unit Westminster Terrace in Westminster. MedCore plans to deploy more than $13 million of capital expenditures to improve the facilities. The company has retained Tacoma-based Senior Services of America (SSA) as the manager of the properties. SSA has managed the communities since 2001. BMO Harris Bank provided the senior loan for the acquisition.

July 13, 2020

Newer Posts

Older Posts