WEST CHESTER, Pa. — Charter Senior Living and Paradise Management have broken ground on a new senior living development in West Chester. Upon completion, the community, Charter Senior Living of West Chester, will total 162 units, with independent living, assisted living and memory care residences. Completion of the project, which was first announced in January of this year, is scheduled for late 2027.
DULUTH, Ga. — Dominium has acquired Sweetwater Terraces, a 165-unit senior living community located in Duluth, about 30 miles northeast of downtown Atlanta. Dominium plans to resyndicate the property in the fourth quarter of this year, preserving the community’s affordable housing status. As part of the resyndication, the community will undergo a $9.9 million renovation. The property was originally developed in 2008 using four-percent low-income housing tax credits and tax-exempt bond financing.
POMPANO BEACH, Fla. —DeMarco Real Estate Group of REMAX 5 Star Realty has brokered the $17.9 million sale of The Residence at Pompano Beach, an assisted living property located in Pompano Beach. Totaling 205 beds, the community offers memory care, rehabilitation and skilled nursing services, in addition to assisted living. The facility totals 61,116 square feet situated on 2.84 acres. John DeMarco of the DeMarco Real Estate Group represented both the buyer and seller in the transaction. The buyer is a local private investor. “Seniors housing assets continue to attract strong …
WEST BLOOMFIELD, Mich. — Blueprint has arranged the sale of a 52-unit assisted living and memory care community located in West Bloomfield in metro Detroit. Originally constructed in 2000, the property was acquired in an all-cash transaction. Lauren Nagle, Michael Segal and Daniel Waldhorn of Blueprint brokered the sale on behalf of the seller.
CHICAGO — Greystone has added Joshua Rosen to its seniors housing and healthcare platform. Rosen is joining the firm as senior managing director. Based in Chicago, Rosen will focus on originating seniors housing and healthcare loans. He will report to Mordecai Rosenberg, head of FHA lending at Greystone. Rosen most recently served as a senior vice president and managing director at Walker & Dunlop. “Josh’s deep relationships in the seniors housing and healthcare space and client-first approach make him a natural fit for Greystone,” says Rosenberg.
DALLAS — Onyx Legacy Group and Lincoln Avenue Communities are underway on plans for the development of a new affordable seniors housing community in Dallas. The Texas Bond Review Board has issued a $38 million bond reservation to the Dallas Housing Finance Corp. in support of the project, and the City of Dallas has issued an early release letter, which allows initial grading and site mobilization activities to begin. Upon completion, the property will total 229 units, with 15 percent of residences reserved for seniors earning at or below 50 percent …
NEW YORK CITY — Greystone has named Nicholas Gesue as chief operating officer. Gesue, who has more than 25 years of experience in commercial real estate finance platforms, will oversee daily operations across Greystone’s lending, servicing and asset management businesses. He will report directly to Steve Rosenberg, chief executive officer and founder of the company. Gesue most recently served as chief executive officer of NewPoint Real Estate Capital and led the firm through a $425 million sale to Franklin BSP Realty Trust in 2025. He has also served as chief executive …
By Hayden Spiess Professionals active in the seniors housing lending space say that the sector is somewhat insulated from cyclical economic headwinds relative to other types of commercial real estate. Even so, lenders and borrowers have not been exempt from contending with factors such as elevated interest rates. Though the secured overnight financing rate (SOFR) has declined meaningfully year over year, the U.S. 10-year Treasury yield has remained largely unchanged. Widespread geopolitical turmoil is also creating uncertainty around not only interest rates, but also the outlook for inflation and other …
CHICAGO — Plante Moran Living Forward, the senior living development advisory division of firm Plante Moran Realpoint, has added Adam Heavenrich to the organization. Heavenrich, who brings more than 30 years of experience advising within the seniors housing sector, will lead the capital markets practice, with a focus on structured finance, senior living and sale-leaseback transactions. According to the company, the addition of Heavenrich will expand Plante Moran Living Forward’s ability to deliver integrated transaction and capital markets advisory services within the senior living sector. “Senior living providers are facing unprecedented …
TOTOWA, N.J. — The New Jersey Economic Development Authority (NJEDA) board has approved $35.3 million in tax credits for a new seniors housing project in Totowa, roughly 20 miles northwest of New York City. Upon completion, the development will feature 141 units. The project, known as Totowa Affordable Housing, is an adaptive reuse of the former Little Sisters of the Poor facility. Chrisitan Health is the lead developer. All of the residences, which will include eight studio units, 123 one-bedroom units, 10 two-bedroom units, will be designated as affordable housing. Financing …
