NEW YORK CITY — Lightstone Capital has hired industry veteran Perry Freitas as managing director of originations. In his new role, Freitas will lead the nationwide sourcing, structuring and originating of commercial real estate debt investments as part of Lightstone Capital’s growth strategy. Prior to joining Lighthouse Capital, Freitas spent the last two decades at Hudson Realty Capital, a New York City-based commercial real estate investment management firm, where he most recently served as a managing director. He was involved in over $4 billion in transactions and was directly responsible for originating, …
Channing Hamilton
ATLANTA — Newmark has arranged the $140 million recapitalization of Corso Atlanta, a seniors housing community in Atlanta. Located at 3200 Howell Mill Road, the property features 203 units. Sarah Anderson, Chad Lavender, Ryan Maconachy, Mills Poynor and Ben McElroy secured a 10-year Freddie Mac senior loan and a preferred equity investment from the Kayne Anderson Real Estate Debt platform on behalf of the owner, Galerie Living. The Freddie Mac loan features five years of interest-only payments. Amenities at Corso Atlanta include a bistro and creperie, heated pool, fitness center, salon, …
CHICAGO — Chicago Pacific Founders has sold a 20-property seniors housing portfolio to Ventas for $725 million. JLL brokered the all-cash transaction. The portfolio comprises communities in the Sun Belt, Northeast and Midwest markets. Roughly two-thirds of the properties are independent living communities, with the remainder of the assets falling into the categories of assisted living and memory care. The communities are spread across 14 states including Alabama, Arizona, Florida, Illinois, Kansas, Maine, Michigan, Nevada, New York, Ohio, Oklahoma, South Carolina, Tennessee and Texas. Chicago Pacific Founders owned the portfolio properties in …
PHILADELPHIA — Berkadia has secured a $13.6 million Low-Income Housing Tax Credit (LIHTC) equity investment for the development of Clearfield Apartments, a 48-unit affordable seniors housing community in Philadelphia’s Allegheny West neighborhood. Chris McGraw, senior vice president based in Berkadia’s Charlotte, N.C. office, secured the equity investment on behalf of the sponsor, NewCourtland. When completed, Clearfield Apartments will consist of 48 one-bedroom units in one four-story, elevator-serviced building serving seniors age 62 and above. All 48 units will operate under a project-based rental subsidy through the Faircloth-to-Rental Assistance Demonstration (RAD) program. …
AUSTIN, Texas — AOG Living has broken ground on Novum Capitol View, a 168-unit active adult project in Austin. Scheduled for completion in late 2025, the property will offer studio, one- and two-bedroom units for residents ages 55 and older. Amenities will include weekly programming and activities, a saltwater pool, dog park, putting green, community gardens, a grilling station, yoga and aerobics room, hair and nail salon, fitness center, multi-purpose activity room and theater and game lounge. AOG Living will manage the community. CBRE arranged construction financing for the development …
NORTH PALM BEACH, Fla. — Kristin Ward, co-CEO and co-founder of seniors housing management firm AgeWell Solvere Living, plans to depart the North Palm Beach-based company. Ward will serve in her current role through to the end of the year and continue to collaborate with AgeWell Solvere as a strategic advisor in the future. Upon her departure, Ward will launch a new consultancy dubbed Austera Group. Ward also previously served as president and CEO of Solutions Advisors Group.
GRAND JUNCTION AND GREELEY, Colo. — JLL has brokered the $30 million sale of a seniors housing portfolio located in Colorado. The portfolio comprises two private pay communities — The Lodge at Greeley and The Lodge at Grand Junction — totaling 140 units. Bow River Capital sold the properties to an undisclosed buyer. JLL Capital Markets represented the seller in the transaction. Delivered in 2020, The Lodge at Greeley in Greeley offers 92 residences, with 20 independent living units, 48 assisted living units and 24 memory care units in studio and …
HEALDSBURG, Calif. — David Smart has been named the new executive director of Ensō Village, a seniors housing community reserved for residents ages 60 and up in Healdsburg. Smart, who has more than two decades of experience in senior living and community management, will take on the role in January 2025. A collaborative initiative between the San Francisco Zen Center and The Kendal Corp., Ensō Village is a Zen-inspired Kendal Life Care Community, with a focus on mindful aging, sustainability and contemplative care. “There are so many things about Ensō Village …
PORTLAND, Ore. — Nonprofit Cedar Sinai Park has sold its namesake seniors housing campus totaling 246 units in southwest Portland. Situated within four miles of downtown Portland, the Cedar Sinai Park campus comprises Rose Schnitzer Manor, a 154-unit assisted living community; Robison Jewish Health Center, a 44-bed skilled nursing facility; and the Harold Schnitzer Center for Living, a 48-bed skilled nursing facility. Built in 2016, the Harold Schnitzer Center for Living also offers adult day care services. Rose Schnitzer Manor was constructed in 1998 and 2002, and Robison Jewish Health Center …
BOSTON — Older adults aspire to be “ageless wonders” and prioritize food and nutrition as the No. 1 factor affecting their health and well-being, according to a newly released survey. The majority of today’s baby boomer population (69 percent) plan to age in place, the “Great Expectations” survey conducted by Age of Majority for Restaura found. A key factor in their desire to stay in their homes could be the significant gap the survey uncovered between how and what they like to eat and the perceived ability of senior living communities …