Seniors Housing

Blueprint Brokers Sale of Three Piedmont Healthcare Seniors Housing Facilities in Georgia

by John Nelson October 19, 2023

AUGUSTA, STOCKBRIDGE AND EVANS, GA. — Blueprint has arranged the sale of three skilled nursing facilities: Laurel Park at Henry Medical Center in the Atlanta suburb of Stockbridge; Kentwood Extended Care in Augusta; and Westwood Extended Care in the Augusta suburb of Evans. The seller was Piedmont Healthcare Inc., Georgia’s largest nonprofit healthcare system. Through its 2022 affiliation with University Health Care System, two skilled nursing and long-term care facilities serving the greater Augusta market, as well as Piedmont Augusta and Piedmont McDuffie hospitals, became part of the Piedmont system. Westwood is licensed for 149 beds and Kentwood is licensed for 100 beds. The 89-bed Laurel Park facility is situated adjacent to Piedmont’s Henry Hospital and was managed by a third-party operator. The buyer was PruittHealth, a prominent Georgia-based owner/operator and the incumbent manager of Laurel Park. The sales price was not disclosed. The Blueprint team included Michael Segal and Daniel Waldhorn.

October 19, 2023

Affordable Housing California Development Multifamily Seniors Housing Western

Milestone Completes Siesta Senior Apartments in Sonoma, California

by Amy Works October 18, 2023

SONOMA, CALIF. — Milestone Housing Group will host a grand opening this week for Siesta Senior Apartments, an affordable housing community for seniors in Sonoma. Located on a 2.3-acre site, the three-story community offers 92 one-bedroom units. Housing Trust Silicon Valley, a nonprofit community loan fund, provided financing for the project.

October 18, 2023

Acquisitions Multifamily Seniors Housing Utah Western

SLIB Negotiates Sale of Two Seniors Housing Communities in Utah

by Amy Works October 17, 2023

SANDY AND DRAPER, UTAH — Senior Living Investment Brokerage (SLIB) has arranged the sale of two assisted living and memory care communities in Utah. The properties are located just a few miles from each other in the southern Salt Lake City suburbs of Sandy and Draper. The communities were built in 2001 and consist of a total of 140 units. The properties total 35,334 and 53,255 square feet and are situated on approximately 1.5 and 2.1 acres of land. The seller is a private equity group divesting to focus on its core assets. The buyer is a Utah-based private equity group with a Utah-based operator expanding its existing footprint in the state. The price was not disclosed. The new owners plan to invest in capital expenditures and marketing to rejuvenate the communities and enhance their overall performance. Vince Viverito and Jason Punzel of SLIB handled the transaction.

October 17, 2023

California Development Multifamily Seniors Housing Western

Belmont Village Tops Out 177-Unit Seniors Housing Community in San Ramon, California

by Amy Works October 16, 2023

SAN RAMON, CALIF. — Belmont Village Senior Living has completed vertical construction of Belmont Village San Ramon, its fifth seniors housing community in the Bay Area. The property is located within the Bishop Ranch master-planned community, which includes retail, dining and entertainment. Harrison Street Real Estate is the development partner, with Synovus Bank and Cadence Bank providing debt. Belmont Village San Ramon is a six-story, 175,320 square-foot senior living community that is scheduled to open in late 2024. With views of Mount Diablo and surrounding hills, Belmont Village San Ramon offers independent living, assisted living and memory care across 177 units in a variety of studio, one-bedroom and two-bedroom layouts.

October 16, 2023

Development Multifamily Seniors Housing Texas

Caldwell Communities Opens 250-Unit Active Adult Complex in Cypress, Texas

by Taylor Williams October 10, 2023

CYPRESS, TEXAS — Caldwell Communities has opened Cadence Creek at Towne Lake, a 250-unit active adult complex in Cypress, a northwestern suburb of Houston. The community features one- and two-bedroom apartments that range in size from 760 to 1,230 square feet and cottages that range in size from 900 to 1,200 square feet. Amenities include a pool, fitness center, library, theater room, arts and crafts room, gaming area and a dog park. Rents start at $1,500 per month for a one-bedroom unit.

October 10, 2023

Affordable Housing Development Massachusetts Multifamily Northeast Seniors Housing

Pennrose to Develop 93-Unit Affordable Housing Project in Wareham, Massachusetts

by Taylor Williams October 10, 2023

WAREHAM, MASS. — Pennrose will develop a 93-unit affordable housing project in Wareham, located in southern Massachusetts near the base of Cape Cod. The development will consist of a 49-unit complex with a mix of workforce and affordable apartments and a 44-unit affordable development for seniors aged 62 and older. Units will come in one-, two- and three-bedroom apartments and will be reserved for renters earning between 30 and 100 percent of the area median income. Completion is slated for summer 2024.

October 10, 2023

Development Midwest Minnesota Multifamily Seniors Housing

Kraus-Anderson Completes $91.8M Expansion of Friendship Village Senior Living Campus in Bloomington, Minnesota

by Kristin Harlow October 4, 2023

BLOOMINGTON, MINN. — Kraus-Anderson has completed a $91.8 million expansion of Friendship Village, a senior living campus located at 8100 Highwood Drive in the Minneapolis suburb of Bloomington. Lifespace Communities owns the property. Designed by SAS Architects and Planners, the 380,294-square-foot project adds a new five-story independent and assisted living building with 93 units. The expansion also includes a new three-story skilled nursing building and a three-story health center with a physical and occupational therapy gym and memory care suites. Services and amenities for assisted living and memory care include 24-hour nursing care, dedicated dining spaces, a fitness center, salon and activity rooms. Extended-stay offerings are three meals per day prepared restaurant-style, 24-hour nursing care, transportation services, a dietitian, social worker and physical, occupational and speech therapists. Rehabilitation services include chef-prepared meals, access to all Friendship Village amenities, physician and nursing care, a social worker, dietitian, salon and therapy services. Construction began in August 2019, and the new expanded spaces are slated to open in November.

October 4, 2023

Acquisitions Multifamily Oregon Seniors Housing Western

Blueprint Negotiates Acquisition of Five Seniors Housing Communities in Oregon

by Amy Works October 4, 2023

OREGON — Blueprint Healthcare Real Estate Advisors has arranged the sale of five independent living, assisted living and memory care communities in Oregon. The portfolio consists of 468 total units with communities built in the 1980s and 1990s. The portfolio generated approximately $4.8 million in EBITDAR in 2022. The buyer was Arcus Healthcare Partners, which also assumed the existing Freddie Mac loan and current operator. The seller and price were not disclosed. The Blueprint team included Dan Mahoney, Michael Segal and Ben Firestone.

October 4, 2023

Arizona Development Multifamily Seniors Housing Western

Cogir, Ryan Cos. Open 147-Unit Seniors Housing Property in Scottsdale, Arizona

by Amy Works October 3, 2023

SCOTTSDALE, ARIZ. — Cogir Senior Living and Ryan Cos. US Inc. have opened ACOYA Shea, an independent living, assisted living and memory care community in the Phoenix suburb of Scottsdale. The community features 147 units in a four-story building. “ACOYA Shea is located right in the heart of Scottsdale, and residents will be able to enjoy the walkability of the community and the proximity to all that the area has to offer,” says Dave Eskenazy, chief executive officer of Cogir Management USA. Cogir Senior Living develops, owns and/or operates 60 communities throughout the United States.

October 3, 2023

Development Multifamily Seniors Housing Texas

Tradition Senior Living Completes 297-Unit Project in Fort Worth

by Taylor Williams September 29, 2023

FORT WORTH, TEXAS — Developer and operator Tradition Senior Living has completed construction on a 297-unit project within the 270-acre Clearfork mixed-use development in Fort Worth. The Tradition-Clearfork offers 214 independent living residences and 95 assisted living and memory care units. Residences come in one- and two-bedroom formats and range in size from 880 to 2,200 square feet. Residents have access to 24-hour concierge and valet services, secure parking and transportation options. Common areas include lounges, card rooms, a movie theater, fitness center, pool and other spaces for daily social activities and wellness programs. Jackson & Ryan Architects designed the project, and Rogers-O’Brien Construction served as general contractor.

September 29, 2023

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