Author

Jeff Shaw

Active AdultDevelopmentFinanceNew YorkNews

Knighthead Funding Provides $34.5M Construction Loan for Active Adult Community in Selden, New York

by Jeff Shaw

SELDEN, N.Y. — Knighthead Funding, LLC has provided a $34.5 million loan for the construction of an active adult community in Selden, a hamlet on Long Island. The borrower is The Northwind Group. The property is fully permitted, planned and approved, but a community name was not released. Situated on 13.8 acres, the complex will feature 124 two-bedroom, two-bath units, including 36 affordable homes, in 15 two-story residential buildings. “Considering the supply/demand imbalance and the limited prospects for new construction in the area, our capital will help Northwood bring needed …

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AcquisitionsNewsSkilled NursingTexas

Ensign Group Acquires 74-Bed Waterton Skilled Nursing Facility in Tyler, Texas

by Jeff Shaw

TYLER, Texas — The Ensign Group, Inc. (NASDAQ: ENSG) has acquired the real estate and operations of The Waterton Healthcare and Rehabilitation, a 74-bed skilled nursing facility in Tyler. In a separate transaction on the same day, Ensign announced that its affiliates acquired the operations of Amarsi Assisted Living, a 103-bed assisted living facility in Glendale, Arizona, and Citadel Assisted Living Facility, a 180-unit independent living and 150-bed assisted living facility in Mesa, Arizona. Both of these operations are part of a healthcare campus that includes skilled nursing services operated …

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FinanceNewsPeople

Berkadia Hires Steve Muth to Seniors Housing Team

by Jeff Shaw

RICHMOND, Va. — Berkadia has hired Steve Muth as a managing director for Berkadia Seniors Housing & Healthcare, serving on the mortgage banking platform. Muth will report to Steve Ervin, senior vice president and head of FHA and seniors housing finance. “Last year was a much brighter year for the seniors housing market, as vaccine rollouts in the first quarter of the year helped occupancy climb and allowed the sector to rebound across the remainder of the year,” says Ervin. “As a result, we saw activity return with investors looking …

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DevelopmentFloridaIndependent LivingNews

Lloyd Jones Breaks Ground on 159-Unit AVIVA Port St. Lucie in Florida

by Jeff Shaw

PORT ST. LUCIE, Fla. — Lloyd Jones has started construction of AVIVA Port St. Lucie, a 159-unit independent living community in the South Florida city of Port St. Lucie. The community features one- and two-bedroom options and is slated to open in spring 2023. Overlooking Lake Whitney, AVIVA Port St. Lucie will be near Town Center at St. Lucie West and across the street from a medical office center.

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Company NewsDevelopmentInvestmentNews

Bridge Investment Group, StepStone Real Estate Announce $75M Co-Investment Venture

by Jeff Shaw

SALT LAKE CITY — Bridge Investment Group Holdings Inc. (NYSE: BRDG) has launched a $75 million program to acquire, develop and operate needs-based seniors housing assets within the United States. As part of the venture, StepStone Real Estate co-invested in an existing portfolio managed by Salt Lake City-based Bridge and intends to help build the platform by co-investing in other seniors housing assets identified by Bridge in the future. “Bridge’s partnership with StepStone represents a strategic milestone as we continue to expand our needs-based seniors housing strategy,” says Robb Chapin, …

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Affordable HousingDevelopmentMassachusettsNews

Hebrew SeniorLife Receives Financing for Expansion of Affordable Community Near Boston

by Jeff Shaw

RANDOLPH, Mass. — Harvard Medical School affiliate Hebrew SeniorLife has closed on the financing to build 45 new units of affordable senior housing at the Simon C. Fireman Community in the Boston suburb of Randolph. Currently, the community offers 160 senior apartments with supportive services. With a low-income housing tax credit investment from the Massachusetts Housing Investment Corporation (MHIC) and support from several other funders, Hebrew SeniorLife’s new construction began this week. The resulting apartments will be 100 percent affordable, with 27 units for households earning up to 60 percent …

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AcquisitionsFloridaNewsSkilled Nursing

ESI Arranges Bankruptcy Sale of Two Skilled Nursing Communities in Florida

by Jeff Shaw

FLORIDA — Evans Senior Investments (ESI) has arranged the bankruptcy disposition of two skilled nursing communities in Florida. The bankruptcy stemmed from a medical whistleblower whose case resulted in a civil fraud judgment of $256 million. Both communities operated under the brand of Consulate Health Care, and filed for bankruptcy when the skilled nursing operating entities could not afford to pay the judgment against them. ESI was hired to represent the debtors in the sale of their assets, obtaining debtor-in-possession financing and providing a confidential valuation. Ultimately, after an auction, …

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NewsOperationsPeople

Claiborne Senior Living Names Justin Wray as Vice President of Operations

by Jeff Shaw

HATTIESBURG, Miss. — Claiborne Senior Living has named Justin Wray as vice president of operations. Wray now oversees the day-to-day operations and works alongside Claiborne Senior Living’s communities to ensure that they are optimizing operations. Wray brings over 16 years of hands-on experience in seniors housing to the organization, both in operational strategy as well as sales and marketing. Previously, he worked in senior management positions with providers such as Pegasus Senior Living and Frontier Management LLC, where he helped grow the organization from 38 to 108 properties. Headquartered in …

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CaliforniaCCRCDevelopmentFinanceNews

Ziegler Arranges $43.8M Bond Financing for Mt. San Antonio Gardens in Inland Empire

by Jeff Shaw

POMONA and CLAREMONT, Calif. — Ziegler has arranged $43.8 million in bond financing for Congregational Homes in support of its continuing care retirement community, Mt. San Antonio Gardens. The Gardens is located on approximately 31 acres spanning across the border of Pomona and Claremont in the Inland Empire area of California. The community features 248 independent living units, 71 assisted living units, 10 memory care units and 58 skilled nursing beds. Proceeds of the bonds will be used to finance a project that will replace the community’s original D Building …

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Affordable HousingDevelopmentNewsNorth Carolina

Woda Cooper Opens 50-Unit Affordable Seniors Housing Community in Hickory, North Carolina

by Jeff Shaw

HICKORY, N.C. — Woda Cooper Cos. Inc. has opened Center Crossing, a 50-unit, four-story affordable seniors housing community in Hickory that offers one- and two-bedroom apartments. Five of the units are accessible for those with mobility challenges, including two units specifically equipped for those with sight and hearing impairments. The property serves residents aged 55 and older who earn 40 to 80 percent area median income (AMI). Rental rates range from $356 to $921 per month, depending on unit size and income restriction. Community amenities include an onsite management office, …

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