UTAH — Blueprint Healthcare Real Estate Advisors has arranged a new tenant for a 12-property, 1,275-bed skilled nursing portfolio in Utah. Blueprint was approached by a longstanding client to find a best-in-class tenant for the portfolio, which the client was under contract to acquire. The seller was a Utah-based owner and operator of skilled nursing facilities that was in the process of executing on a strategic firm-wide recapitalization. The new tenant is a Nevada-based operator that had strong interest in leasing the portfolio from the future buyer. However, after further …
BRANCHBURG, N.J. — Walters is nearing completion of Cornerstone at Branchburg, a 150-unit age- and income-restricted community in Branchburg, approximately 45 miles west of Manhattan. As the developer puts the “finishing touches” on the community’s second building, the company expects to open the property later this month. “Amid continued demand for age-restricted housing in the regional marketplace, Cornerstone at Branchburg already is popular among active seniors and empty-nesters,” says Joe Del Duca, partner and director of affordable housing for Walters. Designed to attain LEED and Energy Star certifications, Cornerstone at …
PALM COAST, Fla. — Watercrest Senior Living Group has hired Danielle Potter to the leadership team as executive director of Market Street Memory Care Residence Palm Coast in Palm Coast, approximately midway between Jacksonville and Orlando. Potter started her career in housekeeping, working her way upwards as a resident care coordinator, lifestyle director, lead concierge and business office director before earning her first leadership role as an executive director several years ago. Market Street Palm Coast is a 64-unit memory care community. The community was recently recognized by U.S. News …
BROOKLINE, Mass. — Law firm Nixon Peabody LLP has advised Hebrew SeniorLife in the site acquisition and construction of a new affordable seniors housing complex in Brookline, a first-ring suburb of Boston. The project involves the construction of a seven-story complex featuring 54 units for seniors over the age of 62. Combined with the Marilyn and André Danesh Family Residences, the Julian and Carol Feinberg Cohen Residences, and the Diane and Mark Goldman Family Residences, this new complex will expand the Hebrew SeniorLife seniors housing campus in Brookline. Financing partners …
SARASOTA, Fla. — AgeWell Solvere Living has completed construction of 81 Oaks, a seniors housing community in Sarasota. Sarasota-based N21 Group is the developer and Lawson Group Architects is the architect on the project. Wiseman Construction is the general contractor. “We’re delighted to manage this innovative new community in the Sarasota area, where the demographic for adults ages 65 years and older is 37 percent [of the total population], which shows a need for independent living, assisted living and memory care communities in the area,” says Kristin Kutac Ward, co-CEO …
CLEVELAND — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 99-bed skilled nursing facility in Cleveland. The transaction was part of a HUD short-sale process. The community was built in 1987 and well maintained, but struggled with survey issues and severe financial turmoil. The buyer was a New Jersey-based owner-operator with existing experience in Ohio. Details on the seller and price were not disclosed.
WINTER PARK, Fla. — FK Architecture, a Winter Park-based firm that works in seniors hosuing, has hired architects Connor Privett and Amy VanderMeer. Privett joins the firm as an architectural designer, while VanderMeer joins as a project architect. Privett brings six years of experience designing and detailing modular homes, multifamily and single-family residential communities, hospitality projects and master planning. He earned his master’s degree in architecture from Kansas State University. VanderMeer is a registered architect with almost two decades of experience in architecture and design. She has extensive experience in …
DALLAS — Bay 9 Holdings LLC, an affiliate of Lapis Advisers LP, has agreed to acquire Edgemere, a continuing care retirement community (CCRC) in Dallas. The high-profile asset has been operating under a forbearance agreement with its lender, UMB Bank, since January 2022. Located on a 16-acre site, Edgemere features 304 independent living units, 60 assisted living units, 31 memory care units and 72 skilled nursing beds. The initial phase of development opened in 2001. Although the seller is not disclosed, Lifespace Communities acquired Edgemere from Senior Quality Lifestyles Corp. …
MEMPHIS, Tenn., and ORMOND BEACH, Fla. — Baker Barrios Architects completed Brightmore of East Memphis, a 180-unit seniors housing development in Memphis, as well as the start of construction on Aden Senior Living, a 131-unit development in Ormond Beach. Both developments include assisted living and memory care facilities, while Brightmore of East Memphis also features an independent living component. Brightmore of East Memphis spans 210,000 square feet and features 122 independent living units, 34 assisted living units and 24 memory care units. Baker Barrios provided architecture and landscape design services. …
WESTPORT, Conn. — Maplewood Senior Living has announced that Gregory Smith, its founder, president and CEO, died over the weekend. Although the cause of death was not released, the company made it clear that the passing was not expected. He was 54. Smith founded the Westport-based company in 2004 and it has grown to 16 communities across five states since that time. In recent years he launched the company’s high-end Inspīr brand, starting with the 23-story, 215-unit Inspīr Carnegie Hill on Manhattan’s Upper East Side. “Greg was a true inspiration …