LOVELAND, Ohio. — Resort Lifestyle Communities has opened Deerfield Springs, an independent living community in the Cincinnati suburb of Loveland. The property features 128 apartments in studio, one-, two- and three-bedroom layouts. “From our research, we found that Cincinnati’s metro was in great need of additional independent senior living options,” says Phil Benjamson, COO of Resort Lifestyle Communities.
PORTLAND, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Senior Haven, an assisted living community in Portland, Oregon. The property features 47 units totaling 50 beds. The community was built in 2012 and expanded in 2018. The facility is approximately 19,337 square feet and is situated on approximately 1.29 acres of land. A local owner-operator sold the property for an undisclosed price, and will continue to serve as a consultant post-closing. Senior Haven is the seller’s only senior living community. The buyer is a regional operator …
ROCHESTER, N.Y. — Ziegler, a specialty investment bank, has closed $108.8 million in bond financing for continued renovations at St. Ann’s Home in Rochester. St. Ann’s Community operates the community, along with four others. Phase I of the master-planned project is complete, which relocated 34 post-acute rehabilitation beds from the Wegman Care Center to the ninth floor of St. Ann’s Home, the largest of the company’s skilled nursing facilities. The new bond financing will fund Phase II of the project, which will renovate floors three through eight of St. Ann’s …
TORRANCE, Calif. — Oakmont Senior Living has opened a marketing information center at Oakmont of Torrance, the company’s seniors housing development in Torrance, just south of Los Angeles. Set to open this spring, Oakmont of Torrance will offer 55 assisted living and 32 memory care units in a 106,613-square-foot building situated on two acres.
NEW ORLEANS — PGIM Real Estate Finance has arranged a $10.7 million HUD loan to refinance St. Margaret’s Daughters Home, a nonprofit skilled nursing facility located in the Mid-City neighborhood of New Orleans. St. Margaret’s Daughters Home was constructed in 2013 and sits on the site of the former Lindy Boggs Medical Center, which was devastated by Hurricane Katrina in 2005. The $33 million construction of the new facility was initially financed using a complex capital stack of New Market Tax Credits (NMTC), Historic Tax Credits (HTC), OCD Loan Funds, …
SCOTTSDALE, Ariz. — Cadence Living has taken over mangement at Andara Scottsdale, a luxury independent and assisted living community in North Scottsdale. Andara Scottsdale features 170 residences at the base of the McDowell Mountains. Reliant Group, an investment and ownership group that specializes in service-enriched residential communities, appointed Cadence as manager at Andara beginning Feb. 1, 2020. Cadence Living is currently developing, owns and/or operates communities throughout the South and West. Reliant Group and Cadence already partner on communities in California, but this is their first in Arizona.
INDIAN LAND, S.C. — Watercrest Senior Living Group has appointed Joy Patterson as executive director of Watercrest Fort Mill Assisted Living and Memory Care in Indian Land, just across the state border from Charlotte. Watercrest Fort Mill is a 107-unit resort-style senior living community currently under construction by Shiel Sexton and scheduled to welcome residents this spring. Patterson joined Watercrest Senior Living Group in early 2019, leading the pre-operational management of Watercrest Columbia Assisted Living and Memory Care, before transitioning to her new position. Patterson’s healthcare career began as a …
NEW YORK CITY — Greystone, a New York City-based healthcare facility owner and operator, has acquired 12 skilled nursing facilities and one supportive living community in Illinois and Missouri. The properties were all previously operated by Rosewood Care Centers. The Department of Housing and Urban Development (HUD) sold the assets for an undisclosed price. The portfolio totals 1,662 beds, and Greystone Healthcare Management Midwest will rebrand and operate the communities. The 13 properties are: Rosewood Care Center of Alton, Illinois, now named Riverside Rehab & Healthcare Rosewood Care Center of …
TENNESSEE — Monticello and its affiliates have provided $16.7 million in first lien debt financing to refinance two skilled nursing properties totaling 303 beds in Tennessee. The transaction also includes a $3 million working capital loan to the operating companies of the properties provided by Monticello’s asset-based lending group, Monticello Commercial Capital. The specific names and locations of the two properties were not disclosed. The borrower is an owner and operator with a current portfolio of 4,637 licensed beds. Prior to this deal, Monticello financed the borrower’s acquisition of several …
GLEN MILLS, Pa. — Erickson Living has broken ground on an expansion at Maris Grove, a continuing care retirement community in Glen Mills, approximately 20 miles west of Philadelphia and 13 miles north of Wilmington, Delaware. The three-story, 76,000-square-foot project will be named Evergreen Pointe. The building will feature 84 new assisted living units. Evergreen Pointe is part of Erickson’s multi-year plan to expand and renovate Maris Grove’s existing residences. The new building will be located adjacent to the existing continuing care building, Rose Court, which will be renovated to …