Seniors Housing

Monticello Asset Management Facilitates $28.5M Mortgage Financing for Skilled Nursing Facility in New Jersey

by Amy Works January 16, 2017

PERTH AMBOY, N.J. — Investment advisor Monticello Asset Management LLC has originated $28.5 million in financing for The Alameda Center for Rehabilitation and Healthcare, a skilled nursing facility in the New York City suburb of Perth Amboy. The bridge-to-HUD loan provided capital for the acquisition of the property by a seniors housing owner-operator. The property consists of a six-story, 82,205-square-foot structure containing the healthcare facility and a detached one-story, 3,400-square-foot retail building. The facility contains 130 resident rooms and is licensed for 250 skilled nursing beds.

January 16, 2017

Florida Seniors Housing Southeast

Lancaster Pollard Negotiates $30.5M Sale of Seniors Housing Community in Central Florida

by John Nelson January 13, 2017

PORT ORANGE, FLA. — Lancaster Pollard has arranged the $30.5 million sale of CountrySide Lakes, a 146-unit independent living and assisted living community in Port Orange, approximately 55 miles northeast of Orlando. Shepherd Health, a Miami-based seniors housing developer and operator, purchased the property from a private ownership group. Natasha Ursuy of Fifth Third Bank originated a $24 million acquisition loan for the buyer through the bank. Built in 1984, CountrySide Lakes offers 26 independent living units and 120 assisted living units. The community currently has a waiting list and has averaged 97 percent occupancy since 2013. Chad Elliott and Gerald Swiacki of Lancaster Pollard represented the seller in the deal.

January 13, 2017

Multifamily Seniors Housing Texas

SLIB Negotiates $3.7M Sale of Skilled Nursing Facility in Snyder, Texas

by Amy Works January 11, 2017

SNYDER, TEXAS — Senior Living Investment Brokerage Inc. (SLIB) has arranged the $3.7 million sale of a skilled nursing facility in Snyder, located approximately 110 miles northeast of Odessa, Texas. The facility was built in 1977 and features 97 licensed and 72 operational beds. A Texas-based operator purchased the property. Neither the seller nor the name of the facility were disclosed. Matthew Alley led the SLIB team in negotiating the transaction.

January 11, 2017

Illinois Midwest Multifamily Seniors Housing

CA Ventures, Pathway Open $28M Senior Living Community in Grayslake, Illinois

by Kristin Harlow January 10, 2017

GRAYSLAKE, ILL. — CA Ventures LLC and Pathway Senior Living have opened Travanse Living at Grayslake, a 96-unit senior living community. The building is located at 1865 E. Belvidere Road in Grayslake, about 40 miles north of downtown Chicago. The community features 68 assisted living suites and 28 memory care residences. The assisted living suites consist of 29 studios, 37 one-bedroom and two two-bedroom units. Located on the third floor, the 28 memory care residences consist of 20 studios and eight two-bedroom units. The community is located two miles from Northwestern Medicine Grayslake Outpatient Center. Chicago-based Worn Jerabek Wiltse Architects designed the community. CA Ventures was the project developer, and Pathway will operate the community. Travanse Living communities are also located in Olathe, Kan. and Wheaton, Ill.

January 10, 2017

California Multifamily Seniors Housing Western

Cushman & Wakefield Brokers $25M Sale of Two-Property Assisted Living Portfolio in San Francisco

by Nellie Day January 10, 2017

SAN FRANCISCO — Cushman & Wakefield Senior Housing Capital Markets Group has arranged the $25 million sale of Hayes Valley Senior Living, a 52-unit, two-property assisted living portfolio in San Francisco. The two properties are located across the street from each other at 601 and 624 Laguna Street. 601 Laguna Street was built in the 1880s as a hotel and converted to assisted living in 1997. 624 Laguna Street was purpose-built as an assisted living facility in 2005. The buyer was a San Diego-based private owner-operator and the seller was a local nonprofit owner-operator. Richard Swartz, Jay Wagner and Aaron Rosenzweig led the Cushman & Wakefield team on the transaction.

January 10, 2017

California Multifamily Seniors Housing Western

Elder Care Alliance Acquires 135-Unit Independent Living Community in Bay Area

by Nellie Day January 6, 2017

SAN MATEO, CALIF. — Elder Care Alliance has acquired The Villa at San Mateo, a 135-unit independent living community in San Mateo, located between San Francisco and San Jose, for an undisclosed price. The community is located on a 4.5-acre campus. Elder Care partnered with Rockwood Pacific, CBRE and HJ Sims to complete the deal. The transaction marks the first acquisition by Elder Care Alliance, a Bay Area nonprofit operator. The company now serves nearly 700 seniors in five communities throughout California.

January 6, 2017

Multifamily New Jersey Northeast Seniors Housing

Walters Group Opens 70-Unit Cornerstone at Barnegat in New Jersey

by Amy Works January 3, 2017

BARNEGAT, N.J. — Walters Group has opened Cornerstone at Barnegat, an age- and income-restricted housing project located at 9 S. Main St. in Barnegat. The three-story building features 70 energy-efficient units in a mix of one- and two-bedroom layouts with balconies. On-site amenities include large gathering areas, fitness center, conference room, computers, outdoor barbecue area, secured access, elevators, and on-site management and maintenance. The property is restricted to residents age 55 or older.

January 3, 2017

Illinois Midwest Multifamily Seniors Housing

Senior Living Investment Brokerage Arranges $7.5M Sale of Supportive Living Facility in Pontiac, Illinois

by Kristin Harlow January 3, 2017

PONTIAC, ILL. — Senior Living Investment Brokerage Inc. has arranged the sale of Woodridge Supportive Living in Pontiac, north of Bloomington, for $7.5 million. The 36,610-square-foot facility sits on five acres and includes 60 units. A private partnership that develops and operates assisted living and memory care facilities was the seller. A regional operator of seniors housing in Illinois was the buyer. Ryan Saul of Senior Living Investment Brokerage arranged the transaction.

January 3, 2017

Multifamily Seniors Housing Texas

Caddis Breaks Ground for Seniors Housing Community in Bedford, Texas

by Amy Works December 23, 2016

BEDFORD, TEXAS — Caddis has broken ground for Heartis MidCities, its newest senior living community in Texas. Located in Bedford, the 178,530-square-foot property will feature 178 independent living, assisted living and memory care units, outdoor walking paths, courtyards, and game and activity rooms. Cameron, Texas-based EBCO is constructing the property, which is slated for completion in winter 2017. Expedition Capital Advisors LLC provided construction financing on behalf of Caddis. Frontier Management will manage the property, and Austin-based Katus LLC is serving as architect for the project. The property is Caddis’ fifth seniors housing community near Dallas/Fort Worth and its 12th in Texas.

December 23, 2016

Georgia Seniors Housing Southeast

Caddis Breaks Ground on Seniors Housing Community in Metro Atlanta

by John Nelson December 23, 2016

FAYETTEVILLE, GA. — Caddis has broken ground on Heartis Fayetteville, a 168-unit independent living, assisted living and memory care community in Fayetteville, approximately 20 miles south of Atlanta. The community will comprise three buildings totaling 157,029 square feet that will house 80 independent living units, 56 assisted living apartments and 32 memory care units. This is the first entry into Georgia for Caddis, a healthcare real estate firm based in Dallas, though the company is also planning another Heartis-branded community in nearby Suwanee. Portland, Ore.-based Frontier Management will operate Heartis Fayetteville upon completion, which Caddis expects to be in late 2017. Chicago-based investment firm Singerman Real Estate is a joint venture development partner on the project. The Atlanta office of Choate Construction will be the general contractor.

December 23, 2016

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