Seniors Housing

Life Care Services Plans 350-Unit Life Plan Community on West Coast

by Nellie Day March 30, 2017

SAN LUIS OBISPO, CALIF. — Life Care Services, as development and marketing consultant, has unveiled plans for Villaggio at San Luis Obispo, a luxury life plan community in San Luis Obispo, located in the Central Coast area between Los Angeles and the Bay Area. The entrance-fee community will feature the full continuum of care on site. When completed, the property will total 350 units. Robert Richmond, an architect, is the founder and executive director of design and development on the project. The property will feature streetscapes and a central plaza with an open-air design, including restaurants, gathering places and many other amenities. California-based RRM Design Group is the design architect. Developers are planning to seek LEED certification for the project. Construction is scheduled to begin in 2019.

March 30, 2017

Midwest Multifamily Seniors Housing Wisconsin

Heritage Senior Living Opens New 125,000 SF Community in Hartland, Wisconsin

by Kristin Harlow March 30, 2017

HARTLAND, WIS. — Heritage Senior Living has opened a new 125,000-square-foot senior living community in Hartland, about 25 miles west of Milwaukee. Heritage Lake Country is located at 2975 Village Square Drive. The community includes 45 independent living apartments, 16 assisted living apartments, 27 enhanced assisted living apartments and 36 memory care suites. Amenities include three dining rooms, a library, movie theater, fitness center, therapy pool and barber shop. Heritage Lake Country also features a multi-sensory “Snoezelen Room” to help ease anxiety for residents with Alzheimer’s and dementia, by using light, music, touch and scent to initiate sensory stimulations in the brain.

March 30, 2017

California Multifamily Seniors Housing Western

Blueprint Arranges Sale of 100-Unit Assisted Living Community in Visalia

by Nellie Day March 28, 2017

VISALIA, CALIF. — Blueprint Healthcare Real Estate Advisors, a Chicago-based brokerage firm, has arranged the sale of Park Visalia Assisted Living, a 100-unit assisted living community in Central California. The community is located in Visalia in the San Joaquin Valley, approximately midway between Los Angeles and the Bay Area. The sellers, a Chicago-based private equity firm, acquired Park Visalia in 2014, investing in several capital improvement projects and bringing in a California-based third party management company to turnaround operations. However, after the first year occupancy remained constantly below market levels, the owner elected to transition the operations to a Midwest-based provider that stabilized key leadership staff positions and improved occupancy and cash flow. The buyer was a privately held real estate investment company based on the West Coast, with Park Visalia representing the company’s fourth California seniors housing acquisition in the past two years. The buyer plans to remodel the community, including the addition of a secured memory care wing. The purchase price was not disclosed. The new owner will transition management to a new operator that has several other communities in California. Jacob Gehl, Ben Firestone, and Michael Segal of Blueprint were the lead advisors on the transaction.

March 28, 2017

California Montana Multifamily Seniors Housing Washington Western

Ventas Buys Six Koelsch Seniors Housing Communities for $137M in Sale-Leaseback Transaction

by Nellie Day March 27, 2017

OLYMPIA, WASH. — Ventas has acquired six seniors housing communities from Koelsch Communities for $137 million and will immediately lease all the properties back to the Olympia-based operator. The communities acquired include Canterbury Park in Longview, Wash.; Cedarbrook in Fresno, Calif.; The Hampton & Ashley Inn and The Hampton at Salmon Creek both in Vancouver, Wash.; Madison House in Kirkland, Wash.; and Spring Creek Inn in Bozeman, Mont. The transaction increases the number of Ventas-owned, Koelsch-operated communities to 18. The properties span the continuum of care. Koelsch Communities operates 22 communities in seven states with eight more communities currently in development.

March 27, 2017

Bob Kramer, National Investment Center for Seniors Housing & Care

Features Healthcare Multifamily Seniors Housing Top Stories Western Feature Archive

Seniors Housing Industry Looks for New Ways to Bend Cost Curve, Improve Health Outcomes

by Jeff Shaw March 24, 2017

SAN DIEGO — Breaking down the silos between the traditional real-estate-based seniors housing providers and the growing number of health, wellness and supportive services providers will lead to better health outcomes for residents and slow the long-term growth of medical costs. But it’s a shift that won’t happen overnight. That’s one of the key messages Bob Kramer, founder and CEO of the National Investment Center for Seniors Housing & Care (NIC), aims to deliver. The 2017 NIC Spring Investment Forum, which happened March 22 through March 24 at the Hilton San Diego Bayfront, drew more than 1,600 industry professionals, a record number for the show, including more than 350 first-time attendees. The title of this year’s program was “Unlocking New Value Through Senior Care Collaboration.” Industry leaders are feeling a sense of urgency to tackle this issue. Five percent of Medicare recipients consume half of the federal program’s total expenditures, or about $60,000 per beneficiary, according to Kramer. By comparison, the bottom 20 percent account of Medicare recipients account for under $1,000 per beneficiary. “In terms of bending the cost curve — a favorite phrase in healthcare reform — the initial target is very much understandably on the high-need, high-cost population. They …

March 24, 2017

Multifamily Seniors Housing Texas

Love Funding Secures $2.6M in Bridge Financing for Seniors Housing Facility in Tomball, Texas

by Taylor Williams March 23, 2017

TOMBALL, TEXAS — Love Funding has arranged a $2.6 million FHA loan to cover the bridge financing for the acquisition of Forever Young Senior Living, an assisted living and memory care facility in Tomball, a northwestern suburb of Houston. Located at 609 S. Pine St., the facility offers a choice of 16 private suites, personal laundry services, private party room and professional hair salon. The loan features a 35-year term with non-recourse financing.

March 23, 2017

California Multifamily Seniors Housing Western

Steadfast Senior Living Plans 67-Unit Assisted Living Community Near San Jose

by Nellie Day March 21, 2017

MORGAN HILL, CALIF. — Steadfast Senior Living has unveiled plans for an unnamed, 67-unit assisted living and memory care community in the San Jose suburb of Morgan Hill. The two story, 62,000-square-foot development will consist of studio, one- and two-bedroom units ranging from 400 square feet to 1000 square feet. Steadfast plans to break ground on the project this summer for a scheduled opening sometime in 2018. Steadfast currently owns two other assisted living and memory care communities, both in the Los Angeles metro. The two communities are the newly opened GranVida in Carpinteria and Crestavilla, currently under construction in Laguna Niguel. Steadfast Senior Living is a division of Steadfast Cos., an Irvine-based developer, investor and operator of commercial real estate properties in the United States and Mexico.

March 21, 2017

Colorado Multifamily Seniors Housing Western

Blueprint Partners Expands into Mountain States with New Partnership

by Nellie Day March 21, 2017

DENVER — Blueprint Healthcare Real Estate Advisors, a Chicago-based brokerage firm, has partnered with Pamela Pyms and Hayden Behnke, both seniors housing real estate brokers in Denver. Since 2011, Pyms and Behnke have worked as a team structuring seniors housing sale transactions in the Mountain States. The pair also assists developers in sourcing equity and debt and arrange partnerships among institutional investors and national operators. The new additions represent wider market coverage and local expertise in Colorado and the surrounding region for Blueprint. Prior to joining Blueprint. Pyms owned and operated Pyms Capital Resources, a real estate brokerage firm focused on the senior living industry.

March 21, 2017

Loans Multifamily Oregon Seniors Housing Western

Lancaster Pollard Arranges $5.3M Fannie Mae Financing for Assisted Living Community Near Portland

by Nellie Day March 20, 2017

MILWAUKIE, ORE. — Lancaster Pollard has arranged a $5.3 million Fannie Mae loan for BPM Senior Living. The loan provides capital for Royalton Place, a 70-unit assisted living and memory care community in the Portland suburb of Milwaukie. BPM purchased Royalton Place in 2005 and adjusted the acuity mix in late 2014. The financing is part of the owner’s plan to replace the existing third-party operator, instead taking over management of the community itself. Matt Lindsay led the transaction for Lancaster Pollard, aided by Doug Harper.

March 20, 2017

Colorado Multifamily Seniors Housing Western

Mainstreet to Open 70-Bed Skilled Nursing Facility in Loveland

by Nellie Day March 20, 2017

LOVELAND, COLO. — Mainstreet is set to open the doors on Medical Center of the Rockies at Centerra, a 70-bed skilled nursing facility in the Fort Collins suburb of Loveland. OZ Architecture designed the 50,000-square-foot property, which is expected to open before the end of this month. Mainstreet is an Indiana-based developer and investor in skilled nursing properties. OZ is a Denver-based architecture firm.

March 20, 2017

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