Author

Hayden Spiess

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By Hayden Spiess The old adage that the way to a man’s heart is through his stomach can be aptly applied to seniors housing residents. Tim Bryant, president of StoryPoint Group, knows this firsthand.  Before ascending to his leadership role at one of the largest senior living operators in the country, Bryant served as the chef at Independence Village of Plymouth, a StoryPoint community in Plymouth, Michigan, roughly two decades ago. There, Bryant took a deep interest in the well-being of residents, even fostering a relationship with a particularly acerbic …

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WHEATON, Ill. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 426-unit senior living portfolio located in Georgia and South Carolina.  Comprising six communities situated on four campuses, the portfolio features 156 independent living units, 200 assisted living units and 70 memory care units. The properties were built between 2017 and 2022.  A Southeast-based developer sold the portfolio to a publicly traded REIT for an undisclosed price. Daniel Geraghty, Bradley Clousing, Jeff Binder and Jason Punzel of Illinois-based SLIB represented the seller in the transaction. 

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CHICAGO — Cambridge Realty Capital has provided $49.7 million in HUD-insured first mortgage financing for a portfolio of five affordable seniors housing communities located in Arizona and Pennsylvania.  Totaling 150 units, the Arizona property is located in Tucson. The Pennsylvania properties together comprise 321 units and are located in Danville, Clarks Summit and Hanover Township.  According to Zach Scardina of Chicago-based Cambridge Realty Capital, the loans feature a fixed-rate, 35-year fully amortizing term. Funds from the loans will be used to retire existing debt, recapture equity and implement modernizations at the …

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MAGNOLIA, Texas — Berkadia has brokered the sale of Alders Magnolia, an active adult community located in Magnolia, roughly 40 miles northwest of Houston. Aspens Senior Living acquired the community from Capitol Seniors Housing for an undisclosed price.  Built in 2021, the property totals 184 units. Amenities at the community include a heated pool, spa, theater, fitness center, demonstration kitchen, coffee bar, private wine lockers, a putting green, bocce ball court and lounge.  Cody Tremper, Mike Garbers, Ross Sanders and Dave Fasano of Berkadia represented Capitol Seniors Housing in the transaction. 

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LAS VEGAS — Kisco Senior Living has announced plans to develop a new community in Summerlin, a master-planned community located in Las Vegas.  Upon completion, the property will feature independent living, assisted living and memory care units.  “Summerlin is one of the most compelling senior living markets in the country, and frankly, one of the most underserved when it comes to truly elevated options,” said Andy Kohlberg, president and CEO of Kisco Senior Living, in a statement. “We’re building something that reflects how today’s older adults want to live: beautifully designed …

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Long-Island-Property

LEVITTOWN and PATCHOGUE, N.Y. — Atria Senior Living, in partnership with Fundamental Advisors and Scribner Capital, has acquired two assisted living and memory care communities located on Long Island.  D&F Development Group sold the properties, which include Village Green in Levittown and Village Walk in Patchogue, for an undisclosed price. Charley Bissell, Ryan Stoll and Taylor Mokris of BWE Investment Sales represented the seller in the transaction.  Built in 2020, Village Green features 57 assisted living units and 46 memory care units. Village Walk was completed in 2018 and totals 146 …

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Lodge at Stephen's Lake

By Jane Adler The simple answer to who’s buying and selling is everyone. REITs are rapidly acquiring senior living properties. Global asset managers with long track records in the sector are bulking up. Private equity funds are deploying capital, and new investors are entering the space.  On the sell side, investment managers are repositioning portfolios to achieve regional synergies. Non-core assets are being shed. Single-property owners or those with small portfolios see rising prices as a good time to sell. Owners of truly distressed properties are eager to exit, though …

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MANTECA and STOCKTON, Calif. — MBK Senior Living has sold two communities totaling 198 units in California.  Located in Manteca and Stockton, the portfolio includes The Commons at Union Ranch and The Commons on Thornton. Clarion Partners acquired the communities for an undisclosed price.  Built in 2004, The Commons on Thornton features 100 assisted living and memory care units. The property was 94 percent occupied at the time of sale. The Commons at Union Ranch was built in 2008 and comprises 98 assisted living and memory care units. The community was …

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COLUMBUS, Ohio — Treplus Communities, and owner and operator of active adult properties, has launched Treplus Property Management (TPM), a new third-party management company.  Designed specifically to meet the needs of active adult communities, TPM will offer a full range of management services, overseeing daily operation, maintenance, marketing, leasing, resident engagement, financial oversight and regulatory compliance as a third-party operator.  “Treplus Property Management represents a natural progression of my dedication to redefining active adult living,” says Jane Arthur Roslovic, CEO and co-founder of Treplus Communities. “Having developed and operated our own …

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MINNEAPOLIS — Greystone has provided a $46.7 million bridge-to-HUD loan for the refinancing of a seniors housing portfolio located in metro Minneapolis.  Totaling 153 beds across five properties, the portfolio features 97 assisted living and 56 memory care beds.  David Young of Greystone originated the financing, which features a 24-month term with two six-month extension options. Chris Clare, Ryan Harkins, Ben Rubin, Parker Nielsen and Liam Gallagher of Greystone assisted on the transaction. 

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