VIERA and PONTE VEDRA, Fla. — RangeWater Real Estate is preparing to open its first two active adult communities under its new Olea brand. The properties are Olea at Viera near Orlando and Olea at Nocatee in Ponte Vedra, a suburb of Jacksonville. The new Olea brand is designed for empty nesters looking to lead an active and social lifestyle with the convenience and freedom of apartment living. The two projects are located 140 miles apart on Florida’s east coast and mark the start of RangeWater’s age-targeted housing expansion across …
ATHENS, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 112-bed skilled nursing facility in Athens, approximately 80 miles southeast of Dallas. Built in 1987, the property is located near the University of Texas Health East Texas campus. A REIT sold the asset to a Fort Worth-based owner-operator for an undisclosed price.
EUSTIS, Fla. — Housing Trust Group (HTG) has broken ground on Valencia Grove II, a 110-unit affordable seniors housing community in Eustis, approximately 30 miles northwest of Orlando. The project is the second phase of the Valencia Grove project, which has already delivered 144 affordable apartments. Units are reserved for residents over 62 years old who earn 22 percent, 35 percent and 60 percent of local area median income (AMI). Rents range from $286 to $937 per month. Development costs for Phase II were estimated at $22 million. The project …
WISCONSIN — Monticello has provided $14 million in first lien debt financing for the acquisition of one skilled nursing and assisted living facility and the refinancing of two skilled nursing facilities totaling 305 beds in Wisconsin. The borrower is an experienced owner and operator with a current portfolio of 4,969 licensed beds/units. Further information on the names and locations of the community was not disclosed.
FRESNO, Calif. — Oakmont Senior Living has hired Heidi Setty as executive director and Miya Prosser as health services director of Oakmont of Fresno in Fresno. Setty has been an administrator for more than two decades. She had oversight for 15 communities as a financial consultant as well. Prosser started her nursing career while in high school as she comes from a family of nurses. She was a CNA and then became a Licensed Vocational Nurse (LVN). She has a wide range of experience from working in skilled nursing to …
PHOENIX — Gardner Capital has completed construction of El Caro Apartments, a 102-unit affordable senior apartment complex in Phoenix. The property also features a food pantry on-site. Gardner Capital worked with the City of Phoenix’s Housing Department and the Arizona Department of Housing, as well as financial partners Citibank and Enterprise Community. Kitchell served as the general contractor. “We recognized the dual needs for seniors housing and food pantries when developing this site with the aim of creating comfortable, flexible living spaces while reducing food insecurity in the Phoenix area,” …
OXFORD and SOUTHAVEN, Miss. — Marcus & Millichap has arranged the sale of Hermitage Gardens of Oxford and Hermitage Gardens of Southaven, both seniors housing communities in Mississippi. The properties feature a combined 69,526 square feet of space and 116 units. A REIT sold the assets to a private equity firm for an undisclosed price. Krone Weidler and L.J. Tsunis of Marcus & Millichap’s Tampa office represented both the buyer and the seller. William Davis assisted in the closing.
ROCKY FORD, PAONIA and GLENWOOD SPRINGS, Colo. — Walker & Dunlop Inc. has arranged $16.4 million in financing for three skilled nursing facilities in Colorado. The borrower is Madison Creek Partners. The portfolio comprises Pioneer Health Care Center, a 29-unit facility in Rocky Ford; Paonia Care & Rehabilitation, a 28-unit facility in Paonia; and Glenwood Springs Health Care, a 29-unit facility in Glenwood Springs. Kevin Giusti led the origination team. The HUD loans will refinance existing debt. Renovated in 1964, Pioneer Health Care Center is the only Veterans Affairs-contracted facility …
SACRAMENTO, Calif. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Regency Place Senior Living, a 72-unit independent living, assisted living and memory care community in Sacramento. The seller, a private ownership group, acquired the property in 2015 and improved performance through renovations, the addition of memory care and a change of operator. A California-based owner-operator acquired the property for an undisclosed price, and has elected to keep Northstar Senior Living as the operator.
HOLLYWOOD, Fla. — Pasquale Kuritzky Architecture Inc. has received the certificate of occupancy for Pinnacle at Peacefield, an affordable seniors housing community in Hollywood, approximately 18 miles north of downtown Miami. The community, named after the ancestral home of John Adams, is part of a redevelopment of the South Dixie Highway corridor on land assembled by the City of Hollywood and its Community Redevelopment Agency. The community features 120 units consisting of one- and two-bedroom residences across three buildings. Pinnacle at Peacefield is the seventh project that Pasquale Kuritzky Architecture …