CINCINNATI — Gardner Capital has completed Roselawn Gardens, a LEED-certified seniors housing community in Cincinnati. The property features 50 apartments for seniors earning between 30 and 60 percent of the area median income. Construction was partially funded through the Low-Incoming Housing Tax Credit affordable housing program. Development partners included the Cincinnati Metropolitan Housing Authority, the Ohio Housing Finance Agency, Fifth Third Bank and Stratford Capital. Arco Construction served as the general contractor for the project. Wallick Communities is the operator.
WEST CHESTER, Pa. — Kendal Corp. has completed construction of Preston, a 61,000-square-foot expansion of its Barclay Friends community in West Chester, approximately 25 miles west of Phialdelphia. Preston features 60 new apartments, including 20 for memory care. The building was named in honor of Dr. Ann Preston, a 19-century Quaker activist and physician who was one of the first women in America to become a medical doctor.
PHILADELPHIA — Pennrose, a Philadelphia-based multifamily developer that often works on affordable seniors housing properties, has promoted Shannon Mowery to vice president of supportive services. Mowery has been with Pennrose Management Co. since 2002 and has been a leader of the supportive services team. In 2015, she was promoted to director of supportive services. Mowery is responsible for new program design and implementation, developing and managing community partnerships for all future developments, and ensuring that every site within the 148-property portfolio meets the individual program obligations that were a part …
BONITA SPRINGS, Fla. — The Alzheimer’s Association has awarded a national Certificate of Recognition to Discovery Senior Living for the company’s SHINE Memory Care program. Discovery is a seniors housing owner-operator based in Bonita Springs. The company’s portfolio totals 15 communities in 13 states. The distinction comes following a comprehensive review of the program curriculum, which uses scientific principles to promote engagement, comprehension and lifestyle quality for seniors living with dementia. Discovery is one of eight providers nationally to receive this recognition. The Alzheimer’s Association Dementia Care Practice Recommendations use …
CENTRAL, La. — Claiborne Senior Living has opened The Claiborne at Shoe Creek in Central, a suburb of Baton Rouge. The community features 70 assisted living residences and 30 memory care apartments. Caroline Smith is executive director of the community and Jill Dupont is community relations director.
TEMPE, Ariz. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the real estate and operations of a post-acute care retirement campus located in Tempe. The acquisition includes Tempe Post Acute, a 62-bed skilled nursing facility, and Desert Marigold Senior Living of Tempe, a senior living center with 72 assisted living beds and 90 independent living units. These acquisitions bring Ensign’s growing portfolio to 226 healthcare operations, 24 of which also include assisted living operations, across 13 states. Ensign owns the real estate at 92 healthcare operations. Blueprint Healthcare Real …
WASHINGTON, D.C. — Love Funding has provided more than $97.3 million in HUD financings in second-quarter 2020. All the loans feature long-term, non-recourse, fixed-rate debt solutions. D.C.-based Love Funding’s parent company, Midland States Bank, was able to complete short-term bridge loans to secure funding. In the first transaction, Love Funding arranged financing for the $3.1 million acquisition of Egida Hogar San Antonio, a property located in Guayama, Puerto Rico. The borrower was able to acquire the Section 8 project and extend the affordability component by entering into a new 20-year …
BARDSTOWN, Ky. — Trilogy Health Services has hired Kathy Franke as executive director of Cooper Trail Senior Living in Bardstown, about 40 miles southeast of Louisville. Franke was born and raised in Bardstown with over 30 years of experience in senior care.
NORTH STRABANE TOWNSHIP, Pa. — HJ Sims has arranged $29.3 million in financing for the development of Encore on the Lake, an 80-unit independent living community in North Strabane Township, approximately 20 miles southwest of Pittsburgh. Presbyterian Senior Care (PSC) is developing the four-story community, which will target middle-income residents. Companies involved in the project include Senior Housing Partners, a subsidiary of Presbyterian Homes & Services. For this financing, Sims identified commercial bank financing as the preferred option for the majority or the financing. The main lender is First National Bank …
WASHINGTON, D.C. — Berkadia’s Seniors Housing & Healthcare Group has secured $50 million in loan closings for skilled nursing facilities in Florida, California and Maryland. Jay Healy and Senior Director Bianca Andujo secured a $22.2 million HUD refinancing for a 157-bed skilled nursing facility in Worchester County, Maryland. The loan represents an 80 percent loan-to-value ratio and carries a term of 35 years. Loan proceeds were used to pay off the existing debt. Healy and Andujo also secured an $11.8 million HUD loan for a California-based borrower. The loan, which …