NASHVILLE, Tenn. — A little over a year after visitor restrictions were put into place to help protect residents from COVID-19, Brookdale communities across the country are now able to lift those restrictions to allow both outdoor and indoor visits, subject to specific state guidance. The state regulatory agencies in the 43 states in which Brookdale operates have adapted guidance to align with the recently updated protocols from the Centers for Disease Control (CDC) and/or the Centers for Medicare and Medicaid Services (CMS) allowing assisted living, memory care and skilled …
ST. CHARLES, Ill. — M&T Realty Capital Corp. has provided a $15.1 million Fannie Mae loan for the refinance of an 80-unit active adult community in St. Charles. The transaction was worked in conjunction with Ziegler, a specialty investment bank headquartered in Chicago. The 10-year, fixed-rate loan was structured with five years of interest-only payments, followed by 30 years of amortization. The loan also carries a declining prepayment schedule, which will provide the undisclosed borrower with additional flexibility in future years. The community was 98.8 percent occupied at the time …
VERO BEACH, Fla. — Watercrest Senior Living Group has promoted Kim Sviben to the role of area director of operations, leading the company’s growing Southeast portfolio. Sviben joined the Watercrest family in 2017 as resident wellness director, later becoming executive director of Pelican Landing Assisted Living and Memory Care in March 2019. During her leadership, Sviben and her team accomplished 100 percent occupancy twice and earned the title of ‘Best Assisted Living Community’ two years in a row from the Hometown News.
NAPLES and VENICE, Fla. — JLL Capital Markets has arranged the $26.8 million sale of a senior living portfolio consisting of two properties totaling 243 units in Southwest Florida. JLL worked on behalf of the seller, Prime Care One, to complete the sale to the buyer, Pointe Group Care. The portfolio includes HarborChase of Naples and HarborChase of Venice, which offer assisted living, memory care and skilled nursing services. Since 2015, the previous owner invested in excess of $3.5 million to update generators, cooling towers and roofs, among other renovations. …
PRESCOTT VALLEY, Ariz. — Link Senior Development and Insight Senior Living have started construction of Ativo Senior Living of Prescott Valley. Located near Bob Edwards Park, the 5.3-acre campus consists of 130 residences across more than 117,000 square feet. The community will include a mix of independent living, assisted living and memory care units ranging from studio apartments to two-bedroom cottages. The community is scheduled to open in summer 2022. Link Senior Development leads the project as the developer. Ankrom Moisan is serving as the architect on the project, Seabold …
LEHIGH ACRES, Fla. — Gates Construction has been selected to provide construction management services for the renovation of the Lehigh Acres Senior Citizen Center. The improvements will include ADA-compliant restroom upgrades, an ADA special lift to access the multi-purpose room stage, kitchen updates and replacement of all six rooftop HVAC units. The center is a nonprofit organization that was established to provide seniors with opportunities to be engaged, enriched and empowered. ADG Architecture provided design services.
SANDY SPRINGS, Ga. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 160-unit assisted living and memory care community in Sandy Springs, just north of Atlanta. The community, which was not identified, recently underwent a multi-million-dollar renovation. The buyer is a turnaround specialist entering Georgia for the first time. Details on the seller and price were not disclosed.
DALLAS — Sentrics, a Dallas-based seniors housing technology firm, has added Sarah Thomas to its advisory council. A global aging expert, Thomas brings nearly 20 years of knowledge transforming the aging experience to the council, which provides the Sentrics management team guidance and insights about the trends impacting the services and care of senior living. Thomas’ technology perspective is shaped by her experience helping some of the largest senior living companies develop and implement strategic change management initiatives and innovative human potential products. Combining corporate, entrepreneurial and consulting experience with …
HOUSTON — Denver-based operator MorningStar Senior Living and Houston-based real estate firm Hines have opened an information center at MorningStar Assisted Living & Memory Care at River Oaks in Houston. The community is scheduled to open this fall, featuring 85 assisted living units and 27 memory care suites. The six-story community is bordered by River Oaks, West University, The Texas Medical Center, Montrose, downtown and the Galleria. Its central location allows access to nearby amenities, including the Museum District, the Houston Zoo, Rice University, Levy Park and dining and shopping experiences.
SANTA ROSA, Calif. — JLL Capital Markets has arranged financing for development of The Lodge at Piner Road, a 92-unit seniors housing community. Blue Mountain Enterprises and Calson Management are developing the property, located in Santa Rosa, part of Sonoma County. Although the amount of the financing was undisclosed, it represents a 75 percent loan-to-cost ratio. A private lender provided the funds. The Class A property will total 37,762 square feet and consist of 66 assisted living units and 26 private memory care units. The property is adjacent to both …