CHARLOTTESVILLE, Va. — Anthology has opened Anthology of Charlottesville, an independent living, assisted living and memory care community in Charlottesville. The 180,000-square-foot community features 179 apartments. According to a recent report by the U.S. Census Bureau, almost 20 percent of the Albemarle County population has already reached age 65 and older, a number that will continue to climb as the baby boomers age.
POINCIANA, Fla. — Dominium has started construction of Osprey Village, a 383-unit affordable seniors housing community in the Orlando suburb of Poinciana. Once completed, Osprey Village will provide 383 units of affordable seniors housing. Qualifying residents must be age 62 or older and earn no more than 60 percent of the area median income. Dominium acquired the land in July 2021 and financed the construction using 4 percent Low Income Housing Tax Credits and tax-exempt bonds. Included in Osprey Village will be single-story cottages and an apartment building. The unit …
FAIRFIELD, Calif. — Sundt Construction Inc. has completed construction of The Ridge at Paradise Valley Estates, an eight-acre life plan community in the Bay Area city of Fairfield. The Ridge features a mix of 70 cottages and villas. The private cottages have two bedrooms and attached garages, and the villas feature either one bedroom or two bedrooms with under-building parking. In addition to the amenities of the larger Paradise Valley Estates 76-acre community, residents can access The Ridge’s dining facility and outdoor amenities such as a learning center and outdoor …
LA JOLLA, Calif. — JLL Capital Markets has arranged a $15 million refinancing for Monarch Cottages, a 26-unit, 52-bed, two-story, Class A memory care community in the San Diego suburb of La Jolla, California. JLL represented the borrower, Monarch Senior Living, in arranging the loan. Remodeled in 2016, Monarch Cottages comprises five companion studio and 21 private studio units averaging 370 square feet. Within a three-mile radius, the 75-plus population is over 6,500 and is expected to grow by 13.5 percent over the next five years. Additionally, the property’s surrounding …
CHICAGO — Evans Senior Investments (ESI) has arranged the sale of Holy Family Villa and Bishop Lyne Residence, a nonprofit, 129-bed skilled nursing community with an 18-unit independent living component in Chicago. Built in 2002 with a 2012 rehabilitation unit addition, the community features 35 private resident rooms. Despite the contemporary design, the community was not profitable at the time of marketing, with census averaging 73 percent, resulting in a net operating loss. Prior to the COVID-19 pandemic, the community averaged 87 percent occupancy with 49 private-pay residents and 28 …
FAIRMONT, Minn. — Lakeview Methodist Health Care Services has completed construction of a $24 million skilled nursing community in Fairmont, located in the southern part of the state near the Iowa border. The 72-bed, 80,000-square-foot building was created as a “neighborhood concept,” which encourages companionship and sociability among residents. Kraus-Anderson Construction was the builder and Wold Architects and Engineers was the designer.
URBANA, Ill. — HJ Sims has arranged an $8.8 million taxable note on behalf of Clark Lindsey Village. Established in 1978, Clark Lindsey Village is a nonprofit continuing care retirement community in Urbana. The campus currently features 147 units of independent living, 12 units of memory care and assisted living and 105 beds of skilled nursing. The borrower plans to use the funds to undertake a repositioning project at the community over the next five years. Phase I includes the construction of eight independent living villas, in addition to site …
PENSACOLA, Fla. — Berkadia has negotiated the sale of Homestead Village Retirement Community, a 176-unit, 180-licensed-bed community in Pensacola. Tim Cobb and Brooks Minford of Berkadia Seniors Housing & Healthcare completed the transaction on behalf of the seller, an Alabama-based nonprofit. The buyer was New Jersey-based Twin Light Capital. “The seller owned the asset for many years and decided it was time to refocus their efforts on operations within the state of Alabama,” says Minford. Built in 1993, Homestead Village Retirement Community offers independent living, assisted living and memory care. …
WALTHAM, Mass. — Benchmark Senior Living, a Waltham-based provider of senior living services in the Northeast, has hired Elizabeth Wheatley as vice president of resident care and Kristine Martel as vice president of human resources. Wheatley spent almost two decades with Five Star Senior Living. She recently served as vice president of health and wellness, designing and managing resident service programs and overseeing COVID-19 clinical response. Wheatley is an advisory board member of the National Center for Assisted Living and a former member of Argentum’s Clinical Quality Roundtable. She earned …
By David Duckwitz, Sensor Industries A recent Seniors Business Housing article, Why So Many Investors Are Chasing Active Adult, pointed to the favorable investment trend in active adult housing. The demographics driving that trend are the 70 million baby boomers ranging in age from their late 50s to mid 70s. While the client base is there as well as the investment interest, there are some barriers to overcome. Despite the demand, there are a limited number of lenders in that space. The COVID-19 pandemic clearly played a role in reducing …
