HUNTSVILLE, ALA. — ACTS Retirement-Life Communities has acquired Carlton Cove from Carlton Cove, Inc. for $27.25 million. The entrance fee continuing care retirement community is situated on 43 acres in Huntsville. The property includes 49 single-family and duplex homes, 113 independent living apartments, and a 91-unit, 105-bed health center.
KATY, TEXAS — Formation Development Group has broken ground for the construction of The Sienna at Cinco Ranch, a 183,000-square-foot upscale senior living community located at 24001 Cinco Village Center Blvd. in Katy. The community will be composed of 126 independent living units and 32 assisted living units in a combination of two- and four-story buildings. Amenities will include concierge service, multiple dining options, a wine bar and a terrace club activities room. Additional features include a fitness center and spa, a wellness and therapy center, a heated pool, a putting green and a bocce court. Completion is scheduled for the third quarter of 2009. Monthly rents for units start at $2,795 for independent living and $3,995 for assisted living. The project is being developed by Formation Development Group, its affiliate Formation Capital and a U.S.-based institutional investment firm. General contracting services are being provided by Spawglass Construction Corp., with architectural services being provided by Dallas-based Three Architecture.
The Research Triangle area of North Carolina is a destination for technology, biotechnology and healthcare companies. With the highest rate of Ph.D.s per capita in the United States, one the fastest growth rates in the country, its central location, and nationally known for cutting edge research and development across a wide range of fields, fueled by Duke University, University of North Carolina-Chapel Hill and North Carolina State University. Quintiles Transnational Corporation, like many other companies, is taking advantage of the power of research in this area as it provides a broad range of professional services in drug development, financial partnering and commercialization for the pharmaceutical, biotechnology and healthcare industries. With 18,000 employees and offices in more than 50 countries, Quintiles was searching for the most appropriate place for its global headquarters. It was found as Quintiles has unveiled plans for its new global corporate headquarters at what will now be called Quintiles Plaza in Imperial Business Park, located at Interstate 40 and Page Road in Durham, the heart of the Research Triangle. More than 1,300 of Quintiles’ employees work in the Triangle area, a number that is expected to grow to approximately 2,000 by 2012. To accommodate the growth, Quintiles …
