Wednesday, February 26, 2025
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Jeff Shaw

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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AcquisitionsAssisted LivingGeorgiaNews

Berkadia Brokers Sale of 85-Unit Community in Alpharetta, Georgia

by Jeff Shaw

ALPHARETTA, Ga. — Berkadia has arranged the sale of an 85-unit assisted living and memory care community in Alpharetta, a suburb north of Atlanta.  Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders led the Berkadia team in representing the seller, a publicly traded REIT. The asset, part of a three-property portfolio, was purchased by a regional owner/operator. The first two properties in the portfolio closed in May. The price and other details were not disclosed.

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AcquisitionsNewsPennsylvaniaSkilled Nursing

Blueprint Negotiates Sale of Skilled Nursing Facility in Metro Philadelphia

by Jeff Shaw

PHILADELPHIA — Blueprint Healthcare Real Estate Advisors has brokered the sale of a Class A skilled nursing facility in the Philadelphia area. Built in the early 2000s, the facility underwent a significant renovation project in 2022. The property is a Medicare-only community. The seller was an institutional private equity firm. The incumbent operator was a seniors housing-focused manager also providing lower acuity senior care services on the adjacent campus. A regional owner-operator looking to expand in the region acquired the asset for an undisclosed price. Michael Segal, Jacob Gehl, Dillon …

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ColoradoDevelopmentNews

MorningStar, Haselden Open 160-Unit Community in Fort Collins, Colorado

by Jeff Shaw

FORT COLLINS, Colo. — Co-developers MorningStar Senior Living and Haselden Real Estate Development have opened MorningStar at Old Town, a seniors housing property in Fort Collins.  The companies partnered with local landowner and developer J.D. Padilla to develop the asset in Old Town Fort Collins. Located at 360 Tenney Court, MorningStar at Old Town features 160 units for independent living, assisted living and memory care in a four-story residential building. Project partners included Hord Coplan Macht as architect, Haselden as general contractor and Thoma-Holec as interior designer.

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Affordable HousingDevelopmentFinanceMassachusettsNews

MassDevelopment Provides $22.2M Bond Financing for Affordable Community in Foxborough, Massachusetts

by Jeff Shaw

FOXBOROUGH, Mass. — MassDevelopment has issued a $22.2 million tax-exempt bond on behalf of Walnut Street Phase One 4 LLC to build 80 units of affordable seniors housing at 51 Walnut Street in the Boston suburb of Foxborough. The developer is a joint venture that includes Affordable Housing and Services Collaborative Inc., Peabody Properties Inc. and The Onyx Group. The site, previously owned by the Commonwealth of Massachusetts, was turned over to the Foxborough Housing Authority in 2017.  These units represent the first step in a multi-phase project that will …

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