Author

Jeff Shaw

CCRCDevelopmentFinanceNewsTexas

Ziegler Arranges $76M Bond Financing for Brazos Presbyterian Homes in Texas

by Jeff Shaw

HOUSTON — Ziegler has arranged $76 million in bond financing for Brazos Presbyterian Homes (BPH), a nonprofit owner-operator based in Houston. The tax-exempt, draw-down bonds are supported by a three-bank syndicate comprised of Amegy Bank, Hancock Whitney and Trustmark. BPH owns and operates three continuing care retirement communities in Texas: Brazos Towers at Bayou Manor, The Hallmark and Longhorn Village. The bonds will fund an expansion project at Longhorn Village, refinance bonds from 2013 and pay the costs of issuance. The expansion project will add 48 independent living apartments to …

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CaliforniaDevelopmentNews

Confluent, Concord, MorningStar Open 166,000 SF Community in Mission Viejo, California

by Jeff Shaw

MISSION VIEJO, Calif. — Project partners MorningStar Senior Living, Confluent Senior Living and Concord Development Partners have completed MorningStar of Mission Viejo. The 166,000-square-foot, 132-unit senior living community is located in the Orange County city of Mission Viejo. The developers broke ground in March 2021. The community offers studio, one- and two-bedroom suites as well as 126 below-grade parking spaces. The property features 13,809 square feet of outdoor space including a pool, dog run, resident garden and al fresco dining. The project introduces Whole Health Standards, a new criteria under …

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Assisted LivingDevelopmentMassachusettsNews

Benchmark Plans $13M Renovation at Evans Park at Newton Corner in Massachusetts

by Jeff Shaw

NEWTON, Mass. — Benchmark Senior Living has planned a $13 million renovation project at Evans Park at Newton Corner in the Boston suburb of Newton. The project will modernize the 30-year-old assisted living and memory care community. It is scheduled for completion in early 2024. The project is also honoring the building’s history, which dates back to 1905, by adding external lighting to highlight unique architectural features. Built by famed developer Warren Evans, “The Evans,” as it was first known, was considered to be the most beautiful apartment complex in …

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Assisted LivingDevelopmentNew JerseyNews

Sunrise Opens 86,000 SF Community in Livingston, New Jersey

by Jeff Shaw

LIVINGSTON, N.J. — Sunrise Senior Living has opened the doors on Sunrise of Livingston in Livingston, approximately 20 miles west of Manhattan. The three-story property totals 86,000 square feet of space for assisted living and memory care. Although the number of units was not disclosed, Sunrise said the property can serve “more than 120 residents.” Lantz-Boggio Architects designed the property, which Wohlsen Construction Co. built.

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CCRCMarylandNewsPeople

Erickson Names Don Grove as Executive Director of Charlestown in Catonsville, Maryland

by Jeff Shaw

CATONSVILLE, Md.— Erickson Senior Living has named Don Grove as the new executive director at Charlestown, a continuing care retirement community in the Baltimore suburb of Catonsville. Grove joined the Charlestown team in 2007 as director of sales and marketing, a position he held for 14 years. In 2021, Grove transitioned to the role of associate executive director and most recently took on the role of interim executive director. Prior to joining Charlestown, Grove worked with the Baltimore Orioles as senior director of sales and ticketing. He holds a bachelor’s …

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AcquisitionsCaliforniaNews

The Mogharebi Group Brokers $28.5M Sale of Wildomar Senior in California

by Jeff Shaw

WILDOMAR, Calif. — The Mogharebi Group (TMG) has arranged the sale of Wildomar Senior, a 284-unit seniors housing community in Wildomar, a city in Southern California’s Inland Empire. TMG represented the seller, Craig Thralls, who developed the property in 2000. The buyer was a Los Angeles-based private investment group. The fully occupied property features 176 independent living apartments and 108 assisted living units.

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Affordable HousingDevelopmentFloridaNews

Lincoln Avenue Capital Breaks Ground on Two Affordable Developments in Bradenton, Florida

by Jeff Shaw

BRADENTON Fla. — Lincoln Avenue Capital (LAC) has broken ground on the 301 Flats and The Savoy at 301 in Bradenton, south of Tampa. Upon completion in 2025, the 301 Flats and The Savoy at 301 will provide 324 units of affordable housing for families and individuals along 248 units of seniors housing, respectively.

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AcquisitionsNewsNorth CarolinaSkilled Nursing

Blueprint Negotiates Sale of Kenansville Health and Rehab in North Carolina

by Jeff Shaw

KENANSVILLE, N.C. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Kenansville Health and Rehab, a skilled nursing facility in Kenansville. The 92-bed skilled nursing facility is located 75 miles southeast of Raleigh and was built in 1975 adjacent to ECU Health Duplin Hospital. With no direct local competition, the facility consistently maintained stable census and quality mix levels. The seller was an ownership group led by a Georgia-based entrepreneur. The operator had recently announced its plan to exit the industry. The buyer was an investor seeking growth …

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