Author

Jeff Shaw

AcquisitionsDevelopmentNewsWashington, D.C

Maplewood Senior Living Buys Historic Hotel in Washington, D.C. for Luxury Seniors Housing Conversion

by Jeff Shaw

WASHINGTON, D.C. — Maplewood Senior Living and Omega Healthcare Investors Inc. (NYSE: OHI) have unveiled plans to expand the Inspīr brand to the Washington D.C. market with the acquisition of The Fairfax Embassy Row. The historic hotel will be transformed and re-envisioned into Inspīr Embassy Row, an ultra-luxury senior living community. Inspῑr Embassy Row will be the second location under Maplewood’s Inspīr brand, and the first Washington D.C. property in the company’s portfolio. “We have taken careful consideration to identify locations where we can truly offer exceptional resident experiences that …

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CaliforniaColoradoFinanceNewsSkilled NursingWyoming

Capital Funding Group Provides $262.6M Refinancing for Skilled Nursing Portfolio in Colorado, California, Wyoming

by Jeff Shaw

BALTIMORE — Capital Funding Group, a Baltimore-based lender, has provided a $262.6 million term loan to refinance a 29-asset long-term care portfolio. Spanning Colorado, California and Wyoming, the portfolio includes 28 skilled nursing facilities and one joint skilled nursing and assisted living facility, with a total of 3,140 beds. The borrower is a privately owned real estate investment group. Erik Howard and Director Tim Eberhardt originated the transaction for Capital Funding Group.

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AcquisitionsNewsOklahomaSkilled Nursing

Plains Commercial Arranges Sale of English Village Manor in Altus, Oklahoma

by Jeff Shaw

ALTUS, Okla. — Plains Commercial has arranged the sale of English Village Manor, a skilled nursing facility in Altus, approximately 150 miles southwest of Oklahoma City. Originally built in 1973, the facility is currently licensed for 128 beds in approximately 36,900 square feet of space. The seller is a regional owner-operator that decided to cull its portfolio and focus on facilities closer to the corporate office. The buyer is one of the largest skilled nursing operators in Oklahoma, with several other facilities in the area. Daniel Morris with Plains Commercial …

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CCRCDevelopmentFinanceFloridaNews

Ziegler Arranges $80M Financing for Mayflower Retirement Center Expansion in Winter Park, Florida

by Jeff Shaw

WINTER PARK, Fla. — Ziegler has arranged $80 million in bond financing for an expansion project at Mayflower Retirement Center, a continuing care retirement community in Winter Park, a suburb of Orlando. The community opened in 1989 is situated on approximately 37 acres and currently consists of 220 independent living apartments and 28 villas; 31 private assisted living units with 15 used for memory support services; 60 nursing beds; and associated common areas. The borrower is pursuing a two-phase repositioning of its campus. Phase I was financed in November of …

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DevelopmentNewsPennsylvania

Spiezle Architectural Group Completes Design of Cathedral Village in Philadelphia

by Jeff Shaw

PHILADELPHIA — Spiezle Architectural Group has completed design work for the second phase of renovations at Cathedral Village, a senior living community in Philadelphia. The first phase began in 2014, and is scheduled for completion in 2022. The latest phase includes renovating all facades, walkways and outdoor amenity spaces to encourage outdoor living and leisure activities. “We have partnered with Presbyterian Senior Living to enhance the property with a more philosophical approach, engaging residents in campus planning sessions and throughout all design phases,” says Steven Leone, principal with the firm. …

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Company NewsNewsOperations

Diversified Healthcare Trust Transitions Seven Communities to Northstar Senior Living

by Jeff Shaw

NEWTON, Mass. — Diversified Healthcare Trust (NASDAQ: DHC) has entered into a new management agreement with Northstar Senior Living for five memory care communities and one assisted living community in California, and one assisted living community in Arizona, totaling 422 units. DHC has now entered into new management agreements representing approximately 84 percent of its seniors housing operating portfolio (SHOP) communities to be transitioned from Five Star Senior Living Inc. to other third-party operators, as previously announced. DHC expects to complete all the management transitions at the 108 communities by …

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Assisted LivingNewsOklahomaOperations

SilverPoint Senior Living Takes Over Operations at Fountainbrook Assisted Living in Midwest City, Oklahoma

by Jeff Shaw

MIDWEST CITY, Okla. — SilverPoint Senior Living has assumed operations of Fountainbrook Assisted Living, a 74-unit community located in the Oklahoma City suburb of Midwest City. “As SilverPoint has continued to expand throughout Texas, it made sense to continue our growth to Oklahoma,” says Shawn Corzine, CEO at SilverPoint. Fountainbrook is located just northeast of Tinker Air Force Base on the north side of Highway 40, off of 15th Street, and is minutes away from SSM Health St. Anthony Hospital.

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Active AdultDevelopmentFloridaNews

Origin Construction to Build $75M America Walks Community in Port St. Lucie, Florida

by Jeff Shaw

PORT ST. LUCIE, Fla. — Miami-based Origin Construction has unveiled plans for America Walks, an active adult rental community in Port St. Lucie spanning 60 acres and more than 400 residences. The project is expected to cost $75 million to develop and is slated for completion in the third quarter of 2023. Ohio-based America Walks is the developer for the gated community. America Walks will feature both a residential and recreational component, including two four-story apartment buildings with 115 units, as well as 300 villas in 60 buildings surrounding four lakes …

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Assisted LivingConnecticutDevelopmentFinanceNews

Senior Living Development LLC Arranges $16M Construction Financing for 117-Bed KindCare at Bristol in Connecticut

by Jeff Shaw

BRISTOL, Conn. — Senior Living Development LLC has arranged $16 million in construction financing for KindCare at Bristol, a middle-market, 117-bed assisted living and memory care community. Situated on a one-acre parcel in downtown Bristol, the community is the first of a rollout for KindCare Assisted Living, specializing in bringing assisted living and memory care to the middle class. This urban model utilizes a smaller footprint for the 60,000-square-foot community to drive down costs without sacrificing any amenities, services or quality. Rates average 20 percent less than luxury assisted living, …

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CCRCFinanceMichiganNews

Ziegler Closes $20.7M Financing for Friendship Village Kalamazoo in Michigan

by Jeff Shaw

KALAMAZOO, Mich. — Ziegler has arranged $20.7 million in financing for Friendship Village Kalamazoo, a continuing care retirement community in Kalamazoo. The bonds consist of $8.7 million of Limited Obligation Revenue Refunding Bonds issued through the Michigan Strategic Fund and $12 million of Limited Obligation Revenue and Revenue Refunding Bonds issued through the Economic Development Corp. (EDC) of the City of Kalamazoo. Proceeds will refund outstanding bond issues from 2010 and 2014 along with other debt, and reimburse costs of some improvements to the community.

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