CHARLOTTESVILLE, Va. — Commonwealth Senior Living has hired three new leadership team members to oversee the operations at Commonwealth’s portfolio of communities in the Northern, Southwest and Eastern/Peninsula regions. Monet Morris has been named senior regional vice president and both Victoria Leitgeb and Rebecca Sturtz have been named regional vice presidents. Morris has over 10 years of experience in the assisted living, personal care, and hospital industries. She is a licensed Assisted Living Administrator, LPN and has a bachelor’s degree in healthcare administration. She most recently served as market vice …
DAVENPORT, Iowa — Marcus & Millichap Capital Corp. (MMCC) has arranged financing of $20.3 million for the development of Meadowview of Davenport, a seniors housing facility located in Davenport. “This loan enables our clients to build new infrastructure to house and support senior living in Davenport and the surrounding communities,” says Frank Montalto, vice president capital markets, located in MMCC’s Chicago office. Montalto and Dean Giannakopoulos, senior vice president capital markets, arranged the financing. “We secured a five-year, 75 percent leverage construction loan with a 3.75 percent interest rate for …
MACON, Ga. — Watercrest Senior Living Group and equity partners, Peninsula U.S. Real Estate and Corecam Capital Partners, have received a certificate of occupancy for Watercrest Macon Assisted Living and Memory Care in Macon. EMJ construction is finalizing building details alongside Interior Design Associates (IDA), in preparation for the upcoming opening. Watercrest Macon is a 98-unit, luxury senior living campus comprising 76 assisted living and 22 memory care residences. It is located within the Providence at Bass development featuring high-end residential, retail, dining and entertainment. Watercrest Macon is one of …
WELLINGTON, Fla. — Innovation Senior Living has acquired Wellington Elder Care in the South Florida city of Wellington for $10 million. This the third property under Innovation’s ownership and management. The new acquisition is part of the company’s five-year plan to add 12 to 15 properties to its portfolio. The 10,845-square-foot, 26-unit community will be renamed The Club at Wellington. “Wellington Elder Care, now The Club at Wellington, is an excellent community that is stable, well-run, and centrally located in the state of Florida,” says Pilar Carvajal, CEO and founder …
EL PASO, Texas — Ziegler has arranged $13.6 million in financing for an affiliate of Altitude Health Services. The loan will refinance debt on Mountain View Health and Rehabilitation, a 187-bed skilled nursing facility in El Paso. Altitude acquired the community in 2016 using bank financing. The HUD 232/223(f) refinance allowed Altitude to lock in fixed-interest, non-recourse debt for 35 years.
HUNTSVILLE, ALA. — Nicol Investment Co. has started construction of Upland Park, a $200 million mixed-use project in Huntsville. The 60-acre project will include multifamily and senior living residences, restaurants, retail, office, entertainment and green space. Located on Enterprise Way at Cummings Research Park, Upland Park will be anchored by HQ, a creative office and retail project being co-developed with Nashville-based Vintage South. The master plan includes The Kelvin, a 301-unit apartment community; Vitality at Upland Park, a 189-unit senior living property; and The Collins, a 334-unit multifamily project featuring …
ATLANTA — Driven by the desire of a healthy lifestyle, two areas that senior living developers are currently focusing on are the fitness center and outdoor spaces, according to Scott Gensler, vice president of business development with Erickson Senior Living. “Every time I look at a plan, the fitness center gets bigger and bigger and bigger,” said Gensler. “Then we open it, and it’s still not big enough.” Not only is the fitness center becoming larger, but it’s also becoming more of a prominent feature in Erickson’s continuing care retirement …
BUCKEYE, Ariz. — Link Senior Development and MedCore Partners have unveiled plans for Ativo of Sundance, a 202-unit senior living community inside the Sundance Active Adult master-planned community in the Phoenix suburb of Buckeye. The campus will offer 103 independent living, 75 assisted living and 24 memory care units on a 10-acre tract. Construction of the 211,000-square-foot, three story project is scheduled to begin in late 2021 for an anticipated opening in summer 2023. Insight Senior Living will manage the community, including oversight of all programs and resident services. This …
MURFREESBORO, Tenn. — National Health Investors Inc. (NYSE: NHI) has sold eight seniors housing communities totaling 909 units for $115 million. The properties were formerly leased to Holiday Retirement. The buyer was not disclosed.
TYLER, Texas — LifeCare Properties and New Orleans-based investment group ERG Enterprises have released plans for The Blake at Tyler, a senior living community in the East Texas city of Tyler. Scheduled to open in 2023, the property will be the third Blake-branded community in Texas. Blake Management Group will be the operator. The community will total 100,000 square feet and offer assisted living and memory care units.