Saturday, July 27, 2024
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Jeff Shaw

CCRCDevelopmentNewsNorth Carolina

PruittHealth Breaks Ground on $385.5M Redevelopment at The Oaks at Whitaker Glen in Raleigh

by Jeff Shaw

RALEIGH, N.C. — PruittHealth has broken ground on its $385.5 million redevelopment project at The Oaks at Whitaker Glen, a continuing care retirement community in Raleigh. The project that will combine upscale senior living, public-facing retail stores and healthcare on one campus. Upon completion, the community will feature 246 independent living units, ranging from studio size to three bedrooms; 82 assisted living apartments; and a new, 106-bed, state-of-the-art skilled nursing center. The campus spans 20 acres. The Oaks at Whitaker Glen is accepting preconstruction reservations now. A construction timeline was …

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AcquisitionsMichiganNews

Walker & Dunlop Brokers Sale of Three-Property Portfolio in Michigan

by Jeff Shaw

OAKLAND COUNTY, Mich. — Walker and Dunlop Investment Sales (WDIS) has arranged the sale of Blossom Village, Blossom Ridge and Blossom Springs, a senior living portfolio located in Oakland County, approximately 35 miles northwest of Detroit.  This portfolio encompasses a total of 245 luxury villas, independent living, assisted living and memory care units. The Moceri family sold the assets to StoryPoint Group for an undisclosed price. Built in 2019 by the Moceri family, the portfolio is now known as the Flourish Collection by StoryPoint Group and will be added to …

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AcquisitionsAssisted LivingNewsWashington

Zett Group Arranges Sale of 60-Unit Community in Central Washington State

by Jeff Shaw

WASHINGTON — The Zett Group, led by Blake Bozett, has arranged the sale of a 60-unit assisted living and memory care community in Central Washington.  The seller was an owner-operator that ran the community for 33 years. A Seattle-based owner-operator acquired the property for an undisclosed price in an all-cash deal. Randi Nathanson and Parisa Zarelli of Lane Powell PC helped navigate the complexities of the transaction.

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NewsOperationsPeople

Buckner Retirement Services Hires Alyssa Adam as Senior Director of Sales 

by Jeff Shaw

DALLAS — Buckner Retirement Services, a Dallas-based nonprofit operator, has named Alyssa Adam as senior director of sales.  In her new role, Adam is leading community sales teams, implementing sales processes and initiatives, and driving revenue growth for the organization.  Adam comes to Buckner with 14 years of experience in senior living marketing and sales. In her most recent role, she served as the chief marketing officer at The Legacy Senior Communities where she led marketing and sales efforts, in-house advertising communications, website redevelopment and more. She has also held …

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AcquisitionsAffordable HousingMinnesotaNews

Standard Communities Acquires Rivertown Commons Affordable Community in Stillwater, Minnesota for $27.8M

by Jeff Shaw

STILLWATER, Minn. — Standard Communities has made its first investment in Minnesota, acquiring Rivertown Commons, a 96-unit affordable seniors housing community in Stillwater.  The transaction is capitalized at $27.8 million.  Stillwater is located along the St. Croix River separating Minnesota from Wisconsin, just east of the Twin Cities area. Standard completed the acquisition in partnership with the Washington County Community Development Agency and the Minnesota Housing Finance Agency (MHFA). Huntington Bank provided the tax credit equity. Standard will preserve and extend the affordability of Rivertown Commons, with resident income restricted to …

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AcquisitionsNevadaNews

SLIB Brokers Sale of 122-Unit Sterling Ridge Living in Las Vegas 

by Jeff Shaw

LAS VEGAS — Senior Living Investment Brokerage (SLIB) has arranged the sale of Sterling Ridge Living, a 122-unit independent living, assisted living and memory care facility in Las Vegas, Nevada.  The community was built in 1974 and was most recently renovated in 2023. The community totals 89,719 square feet on 2.37 acres.  The community offers 22 independent living units, 74 assisted living units 26 memory care units totaling 152 beds. The seller is a private equity firm that sought to exit its fund and the senior living industry. The buyer …

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AcquisitionsAssisted LivingIdahoNews

Zett Group Negotiates Sale of 79-Unit Streamside in Nampa, Idaho

by Jeff Shaw

NAMPA, Idaho — The Zett Group, led by Blake Bozett, has arranged the sale of Streamside Assisted Living and Memory Care in Nampa, approximately 20 miles west of Boise.  The property features 79 total units. A regional owner-operator based out of Oregon sold the asset to a national owner-operator from California looking to expand its footprint in the state Idaho. The price was not disclosed.

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Memory CareMinnesotaNewsPeople

Anthem Appoints Tiffany Bell as Executive Director of Community in Rochester, Minnesota

by Jeff Shaw

ROCHESTER, Minn. — Anthem Memory Care has promoted Tiffany Bell to executive director for Cascade Creek in Rochester, approximately 100 miles southeast of Minneapolis.  Bell most recently was life engagement director for Cascade Creek. Previously she was life enrichment director for Prairie Meadows Senior Living in Kasson.  The certified dementia practitioner brings over 23 years of senior living experience to this position. She received a bachelor’s degree in psychology with a minor in gerontology and family studies from University of Wisconsin-Eau Claire.

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Madison at Oviedo
AcquisitionsAssisted LivingFloridaNews

Atlas Senior Living Acquires Three Communities in Metro Orlando

by Jeff Shaw

CLERMONT, OCOEE and OVIEDO, Fla. — Atlas Senior Living and affiliate company Salta Capital have acquired three senior living communities in the Orlando suburbs of Clermont, Ocoee and Oviedo.  The communities, which offer assisted living and memory care services, have consistently maintained high occupancy rates, according to Atlas. Atlas and Salta plan to implement a $1.5 million renovation plan across the properties. These capital improvements aim to enhance the living standards and amenities.

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Affordable HousingDevelopmentNewsPennsylvania

Tryko Partners Opens 46-Unit Cedarwood Homes Affordable Community in Pittsburgh

by Jeff Shaw

PITTSBURGH — Tryko Partners has opened Cedarwood Homes, a 46-unit affordable seniors housing community in Pittsburgh’s West End neighborhood. The community is already nearing full occupancy, according to the developer. The community features 39 apartments for those age 62 and over with incomes up to 60 percent of the area median income, as well as seven market-rate apartments with the same age criteria.  The project is a redevelopment of Pittsburgh’s former Fairywood School site. Key agencies contributed to the project’s viability, including 9 percent Low-Income Housing Tax Credit awarded by …

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