Author

Jeff Shaw

DALLAS — While active adult has certainly gained a much higher profile in the last decade, it’s still seen by most as a niche — and perhaps mysterious — segment of commercial real estate.  Many multifamily investors may be scared off by the slow lease-up and smaller potential resident pool, while private-pay seniors housing owners scoff at the comparatively lower rents. As one of the newest types of real estate available, many of active adult’s advocates on the investment side say educating potential buyers is an ongoing challenge, despite all …

0 FacebookTwitterLinkedinEmail

WESTCHESTER, N.Y. — Life Care Services has opened Broadview at Purchase College, a 174-unit seniors housing community located on the Purchase College campus in Westchester, approximately 25 miles northeast of Manhattan. LCS Development served as Broadview’s developer and Life Care Services provides management services. “Broadview is a visionary concept that fosters intergenerational learning and helps generate income for the college community, providing for scholarships and educational improvements,’’ says Ashley Wade, the community’s executive director. “Today, more than 90 percent of our residences are reserved, and we have more than 238 …

0 FacebookTwitterLinkedinEmail

FREEHOLD, N.J. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Mattison Crossing at Manalapan Avenue, a 160-unit assisted living and memory care community in Freehold, approximately 50 miles south of New York City. Mattison Crossing features 199 beds.. The community’s performance was stabilized during the marketing period with opportunities for future growth, according to SLIB. The seller was a partnership between Stephanie Anderson and Steve Walling (SilverStone HCRE) and a private equity group located in the West. The buyer was a publicly traded REIT with an established …

0 FacebookTwitterLinkedinEmail

ROCKY TOP, Tenn. — Lument Securities has arranged the sale of Summit View of Rocky Top, a 117-bed skilled nursing facility in Rocky Top, a suburb of Knoxville. The seller was a private long-term care operator based in Tennessee. The buyer and price were not disclosed. Laca Wong-Hammond and Isabel Carta led the transaction for Lument Securities. Summit View of Rocky Top offers a broad range of services, including short-term rehabilitation and traditional nursing care, along with an 18-bed behavioral health hospital. In recent years, Summit View experienced financial and …

0 FacebookTwitterLinkedinEmail

NORTH CAROLINA — Capital Funding Group (CFG) has provided a $36.2 million bridge-to-HUD loan to support the refinancing of five skilled nursing facilities in North Carolina. The properties feature a total of 522 beds. Through this deal, CFG refinanced an existing loan to include two additional underleveraged facilities.  Tommy Dillon of CFG originated the transaction. Further details were not disclosed.

0 FacebookTwitterLinkedinEmail

OPA-LOCKA, Fla. — The Integral Group has broken ground on Wellspring Apartments, an affordable seniors housing community in the Miami suburb of Opa-Locka. Wellspring Apartments will feature 99 units, 67 of which are reserved for residents earning below 50 percent of the area median income (AMI), and the remaining 32 units are for residents earning below 60 percent AMI. The 81,350-square-foot property will feature a computer and library room, fitness center, community center with a full kitchen, and covered terrace. The project is a public-private partnership between Integral, Miami-Dade County, …

0 FacebookTwitterLinkedinEmail

HARTFORD, Conn. — Evans Senior Investments (ESI) has arranged the sale of an eight-property skilled nursing portfolio across the Hartford area of Connecticut.  The transaction, executed on behalf of a REIT from the West Coast, amounted to $60 million, or $54,249 per bed for the real estate only. The buyer was the existing operator. Made up of eight communities built between 1966 and 1990, this portfolio represents a significant share of the Connecticut skilled nursing market, with a total of 1,106 skilled nursing beds.  Upon marketing, the portfolio’s average census …

0 FacebookTwitterLinkedinEmail

NEW CITY, N.Y. — Capitol Seniors Housing has selected Chelsea Senior Living as operator for The Chelsea at New City.  New City is located in Rockland County, approximately 30 miles north of Manhattan. The community features assisted living and memory care units. This is Chelsea’s first community in Rockland County.

0 FacebookTwitterLinkedinEmail

OJAI, Calif. — Helios has arranged a working capital loan for The Artesian, a 64-unit assisted living and memory care community in the Ventura County city of Ojai. Constructed in 2020, the site consists of four 16-unit buildings, which utilize a universal worker model to provide care and services to residents. A capital infusion was required to cover operating deficits until the community achieved stabilization and to reconfigure additional units to memory care as the market showed a strong demand for this.  Through Helios’s extensive network of alternative capital sources, …

0 FacebookTwitterLinkedinEmail

CHESTERFIELD, Mo. — Tutera Senior Living & Health Care has partnered with Shelbourne Healthcare Development Group to manage and lease The Lumiere of Chesterfield, an upscale senior living community slated to open this spring in the St. Louis suburb of Chesterfield.  The 193,000-square-foot development will offer 150 apartments, including 96 independent living, 37 assisted living and 17 memory care units.

0 FacebookTwitterLinkedinEmail
Newer Posts