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Hayden Spiess

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FeaturesNewsTexas

Design Teamwork Makes the Active Adult Dream Work, Says Architecture Panel 

by Hayden Spiess

By Hayden Spiess DALLAS — Although tenant demand for active adult communities remains strong, the sector is not immune to escalating construction costs, labor shortages, tariffs and general economic uncertainty, say industry professionals. Teamwork across key disciplines can help make clearing those hurdles much easier. “We’re having a hard time getting things to pencil these days,” levels Erin Berry Harps, director of interior design at Direct Supply Aptura, a senior living design and construction firm. Simultaneously, residents are as price conscious as ever, she points out. “We also have increased consumer …

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Assisted LivingDevelopmentMemory CareNew YorkNews

FilBen Group, RSF Partners Open $54M Community in Montebello, New York

by Hayden Spiess

MONTEBELLO, N.Y. — Developer and owner FilBen Group and partner private equity firm RSF Partners have opened Braemar Living at Montebello, a $54 million senior living community in Montebello, roughly 40 miles outside New York City.  Totaling 133,675 square feet and 133 apartments across four stories, the property features assisted living residences and a dedicated 32-bed memory care unit. The community can accommodate up to 200 residents.  Amenities at the community include a pub and game room, café, business lounge, general store, arts and crafts room, family lounge, beauty salon, coffee …

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FinanceFloridaNewsSkilled Nursing

MonticelloAM Provides $108.8M Financing for Skilled Nursing Portfolio in Florida

by Hayden Spiess

NEW YORK CITY — New York City-based MonticelloAM has provided roughly $108.8 million in financing for a portfolio of skilled nursing facilities located in southern Florida.  The portfolio totals 500 beds across three properties. The undisclosed borrower plans to use the financing, which comprises a $105.5 million floating-rate senior bridge loan and $3.3 million working capital facility, to refinance existing debt and cover day-to-day operational needs. 

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Assisted LivingCaliforniaFinanceIndependent LivingMemory CareNews

Live Oak Bank Provides $25M Bridge Financing For Community Near Los Angeles

by Hayden Spiess

LOS ANGELES —Live Oak Bank has provided a $25 million bridge-to-sale loan to finance a community located near Los Angeles.  An entity doing business as Harbert Seniors Housing Fund I LP is the borrower. The financing features a three-year initial term, 36 months of interest-only payments and $2.8 million in potential future earnout proceeds.  The property totals 97 units, with independent, assisted living and memory care residences. 

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Active AdultFeaturesNews

Perception Is Paramount in Active Adult, Say InterFace Panelists

by Hayden Spiess

DALLAS — What’s in a name? Plenty, according to the industry professionals that operate and market active adult communities.  Jane Arthur Roslovic, co-founder and CEO of Treplus Communities, says that “if anybody called [her] a senior” she’d “smack them.” Roslovic’s quip came during a panel discussion — titled “Operating and Marketing: Best Practices in Lease-Up, Sales and Programming” — at the 5th annual InterFace Active Adult conference. The daylong event took place Wednesday, May 7, at The Westin Las Colinas in Dallas.  Roslovic and her fellow panelists argued that the …

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AcquisitionsAssisted LivingIndependent LivingMemory CareNewsOregon

Merrill Gardens Adds Three Communities in Metro Portland, Oregon

by Hayden Spiess

PORTLAND, Ore. — Merrill Gardens, a senior living owner and operator, has added three communities to its Oregon portfolio.  Located in metro Portland, the properties include Merrill Gardens at Cedar Mill, Merrill Gardens at Sherwood and Merrill Gardens at Hillsboro. Merrill Gardens acquired the communities as part of a joint venture with PGIM.  An ownership group led by Rembold sold the Cedar Mill and Sherwood properties. Built in 2016, Merrill Gardens at Cedar Mill in Portland totals 163,975 square feet with 147 independent living, assisted living and memory care units.  Merrill …

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FeaturesFinanceFrom The Magazine

C-PACE Financing Hits Its Stride With Significant Deal Volume Growth

by Hayden Spiess

By Hayden Spiess Investment firm and asset manager Nuveen has a dedicated “What is C-PACE?” page on its website, outlining the basics of this unique type of financing. That the firm sees such a fact sheet as necessary is unsurprising, given that within the commercial real estate industry, Commercial Property Assessed Clean Energy (C-PACE) financing carries less familiarity relative to other financing products.  Anne Hill, senior vice president of Bayview PACE, says that “there are some misconceptions out there” and that there is “some confusion around the product.”  Lenders say …

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Assisted LivingDevelopmentFinanceFloridaIndependent LivingMemory CareNews

JLL, HJ Sims Secure $134.3M Tax-Exempt Bond Financing for Seniors Housing Development in Orlando

by Hayden Spiess

ORLANDO, Fla. — JLL and HJ Sims have arranged $134.3 million in tax-exempt bond financing for a seniors housing development currently underway in Orlando.  Dubbed Millenia Moments Orlando, the community will feature 151 independent living, 78 assisted living and 32 memory care units. Trinity Community Development Foundation, a nonprofit formed by Trinity Broadcasting Network (TBN), is the developer and borrower.  Completion of the facility, which will total 316,900 square feet, is scheduled for 2027. The community will feature floorplans in one- and two-bedroom layouts. Memory care residences will include 26 private …

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Affordable HousingDevelopmentFloridaNews

National CORE to Develop 144-Unit Affordable Housing Community in Fort Myers, Florida

by Hayden Spiess

FORT MYERS, Fla. — National CORE has announced plans to develop Oak Park Senior Living, an affordable seniors housing project in Fort Myers.  Upon completion, the four-story community will feature 144 apartment units for residents age 62 and older earning between 30 and 65 percent of the area median income. Residences will include 124 one-bedroom apartments and 20 two-bedroom apartments. Amenities at the property will include a community room, cybercafe, swimming pool, fitness room, community garden and pickleball court.  Residents will have access to computer training, daily activities and free assistance …

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AcquisitionsAssisted LivingKentuckyNews

Blueprint Brokers Sale of 49-Unit Assisted Living Community in Richmond, Kentucky

by Hayden Spiess

RICHMOND, Ky. — Blueprint has brokered the sale of a 49-unit assisted living community located in Richmond, roughly 35 miles southeast of Lexington.  A Midwest-based private equity group acquired the property, which was built in 2009, for an undisclosed price. A New York-based owner and operator was the seller.  Kyle Hallion, Connor Doherty and Ryan Kelly of Blueprint arranged the transaction. 

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