MARANA, Ariz. — Stellar Senior Living has acquired La Sonora at Dove Mountain, a seniors housing community located in Marana, roughly 20 miles northwest of Tucson. Totaling 152 units, the property features independent living, assisted living and memory care residences. The seller and sales price were not disclosed. Stellar Senior Living, which was founded in 2011, is headquartered in Salt Lake City.
TUSTIN, Calif. — Jonathan Rose Cos. has acquired Coventry Court, a seniors housing community located in Tustin, for $83 million. Meta Housing Corp. was the seller. Developed in 2012, the property features 240 units, with 153 residences designed as affordable and reserved for seniors earning 50, 60 and 110 percent of the area median income. Consequently, the property qualifies for a 40 percent tax abatement. The other 87 units at the community are market rate. Jim Fisher, Vince Norris, Mike Smith and Tommy Yates of Northmarq brokered the transaction on behalf …
MARION, Ohio — Nonprofit senior living provider United Church Homes (UCH) has named Terry Spitznagel chief operating officer (COO). Spitznagel, who joined the organization in 2020, will continue to serve as senior executive vice president as well. Previously, she also held the title of chief growth officer. In her new role, Spitznagel will report directly to Kenneth Young, president and CEO of UCH. “Terry has consistently demonstrated a deep commitment to our mission and a strong vision for the future of senior living and services,” says Young. “Her strategic leadership, collaborative …
NEW YORK CITY — MonticelloAM has provided $218 million in financing for a skilled nursing portfolio in Kentucky. Comprising 18 facilities, the portfolio totals 1,500 beds across the state. In addition to a $179.3 million senior bridge loan and a $29 million mezzanine loan, which the undisclosed borrower plans to use to restructure and upsize existing debt, the financing includes a $10 million working capital line of credit that will be used to cover the day-to-day operational needs of the facilities. New York City-based MonticelloAM originally financed the portfolio in May …
SANTA CLARA, Calif. — Ellore Senior Living, a recently opened 176-unit seniors housing community in Santa Clara, has launched a new onsite wellness program. Dubbed Wellness by Ellore, the program will offer onsite healthcare services to residents. Wellness by Ellore offers five “pillars” of care — Medical Advisement, Concierge Medicine, Ellore Med, Ellore Balance and Traditions Memory Care. Dr. Mahyar Ayati is leading the program. Through an exclusive partnership with Pine Park Health, Concierge Medicine will offer primary and specialist care including dentistry, podiatry, audiology, optometry and therapeutic massage. Ellore Med …
SHEBOYGAN, Wis. — Nuveen Green Capital has provided $10.6 million in C-PACE financing for the construction of a new senior living development in Sheboygan. North Town Partners is the borrower. Upon completion, Charter Senior Living Sheboygan will total 182 independent, assisted living and memory care units within a 191,000-square-foot building. Charter Senior Living Sheboygan is being developed jointly by DMK Development Group, North Town Partners and Charter Senior Living. The project’s total cost is $55 million.
DETROIT — BHI, the U.S. branch of Bank Hapoalim B.M., has provided $49 million in bridge-to-HUD financing for a portfolio of three communities located in suburbs of Detroit. Shahid Imran, doing business as Hampton Manor, is the borrower. The portfolio includes Hampton Manor of Dundee, Hampton Manor of Trenton and Hampton Manor of Hamburg. Together, the communities total 221 units, with 171 assisted living and 50 memory care units. Proceeds from the bridge-to-HUD facility will be used refinance existing debt and facilitate a partnership buyout, with Imran assuming full ownership of …
ANNAPOLIS, Md. — Seniors of the boomer generation are moving into seniors housing communities at a record rate, according to a new report published by the National Investment Center for Seniors Housing & Care (NIC). NIC MAP data from the Annapolis, Maryland-based organization, shows that the seniors housing occupancy rate in the United States increased 0.8 percentage points to 88.1 percent in the second quarter of 2025, up from 87.3 in the first quarter. Occupancy of independent living units saw a strong increase of 0.8 percentage points to 89.7 percent, a …
NAPLES and SARASOTA, Fla. — Real estate investment management firm Town Lane has acquired two independent living communities located in Florida. Together the properties total 373 units. Located in Naples, Discovery Village Naples was opened in 2020. Discovery Village Sarasota Bay in Sarasota was opened in 2022. Both communities are located on campuses that also house assisted living and memory care facilities. Discovery Senior Living will continue to lease and operate the communities. Amenities at the properties include outdoor courtyards and pools, fitness and rehab spaces, theaters and beauty salons. “The …
NEWTON, Mass. — MassDevelopment has issued a $134.9 million tax-exempt bond to Lasell Village Inc. for the renovation and expansion of a senior living community located on the campus of Lasell University in Newton. The financing will fund the purchase of 1.4 acres of land owned by Lasell University and the construction of a new building. Upon completion, the new building will feature 42 independent living apartments, a bistro, fitness and wellness centers, a multipurpose room, common space and other amenities. Lasell Village is a charitable corporation that was formed in …
