GREELEY, Colo. — Ascent Living Communities will serve as the operations and management provider for High Plains Crossing, a 52-unit memory care community located in Greeley, on behalf of the ownership. Ascent plans to implement renovations at the property, which was originally opened in 2018. Plans include updated flooring; new furniture, fixtures and equipment; and reimagined lobby space. Renovations are scheduled for completion this spring, with residents remaining in their apartments throughout the process. Founded in 2008, Ascent’s portfolio comprises more than 750 senior living units.
FORT WAYNE, Ind. — Priority Life Care (PLC) has appointed Bobby Petras to the role of president. Petras previously served as chief operating officer (COO) of the company. Dave Kloster, who has been with PLC for three years, will take over the role of COO. Petras, who is also a co-founder of Fort Wayne-based PLC, will now concentrate on strategic initiatives and operational practices that align with the company’s growth objectives. “I look forward to working closely with our capital partners and ensuring that we implement effective operational practices as we …
NEW YORK CITY — MonticelloAM has provided $39 million in bridge and working capital financing for two skilled nursing facilities in New Jersey. The borrower will use the $38 million floating-rate senior bridge loan to consolidate previous loans and reduce its cost of capital and will use the $1 million working capital facility to cover the day-to-day needs of the facilities. Together, the properties total 300 skilled nursing beds. “The MonticelloAM team did a remarkable job closing this transaction in 45 days to meet their timeline, underscoring our commitment to our …
GROTON, Conn. — Greystone has announced plans for the development of Vista Point at Fairview, a new nonprofit continuing care retirement community (CCRC) in Groton in southeast Connecticut. Construction on the $230 million project is scheduled to begin in summer 2026. Upon completion, the community will offer independent and assisted living units. The Town of Groton recently approved the development, and 220 seniors have registered early as depositors. The project team includes AG Architecture, C.E. Floyd Construction, 828 Interior Design, AgePop Marketing, Langan Civil Engineering, Ziegler Financial and the law offices …
WYOMING, Mich. — Walker & Dunlop has arranged $25.9 million in permanent financing for Rivertown Ridge, a seniors housing community located in Wyoming, roughly 5 miles outside Grand Rapids. The 10-year, fixed-rate Fannie Mae loan features three years of interest-only payments. Mary Stuart Hurst and Russell Dey of Walker & Dunlop secured the financing through Inner Circle Holdings on behalf of the borrower, Redstone Group Management Inc. Rivertown Ridge, which was built in 2019 as part of a master-planned community, features 152 units, with independent living, assisted living and memory care …
TOLEDO, Ohio and HOUSTON — An affiliate of Welltower Inc. (NYSE: WELL) has entered into an agreement to acquire NorthStar Healthcare Income Inc., a public, non-traded REIT that owns a diversified portfolio of seniors housing properties throughout the United States, for roughly $900 million. Toledo-based Welltower will take ownership of NorthStar Healthcare’s portfolio of 40 seniors housing communities in the acquisition. Founded in 2010, Houston-based NorthStar Healthcare’s portfolio includes independent living, assisted living and memory care properties. “We expect that this portfolio will serve to further enhance our regional densification …
PHILADELPHIA — Andrew Carle believes that university retirement communities (URCs) represent a potential game-changing opportunity not only for the seniors housing industry but also for universities and retirees, if executed properly. Yet, URCs are also extraordinarily complicated to operate, cautions the founder of UniversityRetirementCommunities.com, the first directory and information resource of its kind, which lists more than 85 such communities nationwide. “It doesn’t get more difficult than trying to merge big, large, bureaucratic state universities that move very slowly and who live in a bubble of 20-year-olds with the senior living …
HENDERSON, Nev. — A joint venture between CREC Real Estate and The Calida Group has sold Coronado Ridge Skilled Nursing and Rehabilitation Center, a skilled nursing facility in the Las Vegas suburb of Henderson, for $33 million. Completed in 2017, the facility totals 121 beds across 90 resident rooms. The 68,873-square-foot property is situated on 2.3 acres across from a 132-unit seniors housing community and a 62-unit memory care facility. JLL’s Seniors Housing Capital Markets team, in conjunction with Mark Wintner of JLL, represented the seller in the transaction.
WELLINGTON, Fla. — JLL Capital Markets has arranged the sale of Wellington Bay, a 45-acre senior living campus located in Wellington, roughly 55 miles northwest of Fort Lauderdale. Totaling 283 units, the property features a 159-unit independent living community and The Lisbet Health Center, which comprises 124 assisted living and memory care residences. Amenities at the campus include a 65,000-square-foot clubhouse with dining, outdoor and indoor pools, a hot tub, putting green, bocce court, pickleball court and fitness, wellness, concierge, arts and entertainment programming. AEW Capital Management acquired the property from …
VIRGINIA BEACH, Va. — Owner-operator Beth Sholom Village has opened Aviva Pembroke, a new community located in Virginia Beach adjacent to the Pembroke Square shopping mall. Pembroke Realty Group developed the property on behalf of Beth Sholom Village. Totaling 153 units, the community features 121 independent living, 20 assisted living and 12 memory care residences. Amenities at the property, which was designed by Kahler Slater, include a pool, fitness center, bistro, community room and a meditation and prayer room. Outdoor amenities include a deck, rooftop lounge and terrace, pickleball courts, putting …