COBB COUNTY, Ga. — Lancaster Pollard’s investment banking affiliate, OREC Securities LLC, has arranged $24.5 million in financing for the construction of a seniors housing community in the Atlanta suburbs of Cobb County. Brickmont Assisted Living is developing the 131-unit project, which will offer both assisted living and memory care. The financing is structured as a bond issuance. Conner Girdley led the transaction for Lancaster Pollard.
SCOTTSDALE, Ariz. — Cadence Living, a Scottsdale-based operator, has hired Dakota Seven as regional sales director for the West region. Seven will support Treva Whalen, vice president of operations for the West, and the six California communities in Cadence’s portfolio. Seven started her career in seniors housing as a part-time sales assistant with Sunrise Senior Living. After Sunrise, she was a sales and marketing director for Atria Senior living, supporting redeveloped properties, lease-up projects and stabilized properties in California. Most recently she worked as regional sales specialist with Oakmont Management …
SAN DIEGO — JLL today announced the addition of a new advisory and investment transaction services practice. The new service offering will be led by Deborah Street, who joins the firm as a senior vice president based in San Diego. Street will oversee a continuum of services across multiple property types, with a focus on seniors housing, nursing care and multifamily. Services include on-demand underwriting, strategic planning, transaction structure/return analysis, transaction management, and due diligence for potential investment and development opportunities, as well as ongoing asset management services and strategic …
New technologies can help residents, care providers and families alike. By Fahad Aziz, co-founder and CTO, Caremerge Navigating the transition to senior living isn’t only daunting for incoming residents. Over the next 15 years, the population of Americans over the age of 65 will nearly double. That means millions more family members, healthcare providers and assisted living staff will have to figure out how to best care for the next generation of older adults. The good news is that technology is making this shift easier than ever. But if there’s …
CHICAGO — Harrison Street, a Chicago-based alternative asset investment firm, has acquired a portfolio of 11 properties managed by Brightview Senior Living located throughout Maryland, New Jersey and Massachusetts. Harrison Street and Brightview already partner on several properties. This acquisition adds 1,322 units to the portfolio. The price and seller were not disclosed. The properties include: Brightview Perry Hall, Nottingham, Maryland Brightview Rolling Hills, Catonsville, Maryland Brightview Towson, Towson, Maryland Brightview White Marsh, Baltimore Brightview South River, Edgewater, Maryland Brightview Greentree, Marlton, New Jersey Brightview Mount Laurel, Mount Laurel, New …
EMPORIA, Va., and LOUISVILLE, Ky. — Capital Funding has provided a $14.5 million bridge-to-HUD loan to The Portopiccolo Group. The funds will be used to acquire one skilled nursing facility, Emporia Manor, and cross-collateralize it with another facility, Sycamore Heights Health and Rehabilitation. Emporia Manor is a 120-bed facility in Emporia, while Sycamore Heights is a 96-bed facility in Louisville. The Portopiccolo Group, a family owned private equity and investment management firm, will own both properties following the transaction. Clearview Healthcare Management operates Sycamore, while Accordius Health will operate Emporia. …
WASHINGTON, D.C. — Love Funding, a D.C.-based provider of FHA multifamily, affordable and healthcare financing, has added Doug Knebel to its St. Louis team as senior director. Knebel brings more than 15 years of experience in commercial lending, banking and servicing to Love Funding. Most recently, he served as associate director of commercial banking, and previously as commercial relationship manager, at Midland States Bank, Love Funding’s parent company. Knebel earned a bachelor’s degree in accounting from Greenville College. He is engaged in the healthcare industry, including board positions on Fayette …
CUYAHOGA FALLS, Ohio — Maplewood Senior Living has hired George Dubic as the new executive director for Maplewood at Cuyahoga Falls, located in the Akron suburb of Cuyahoga Falls. Dubic has almost 17 years of experience in nursing homes. In his new role, he transitions to assisted living care, bringing his experience in caregiving, operations, management and senior living. Dubic is responsible for the day-to-day operations of the community including the planning, development, implementation, evaluation and improvement of program services, management of staff, and the delivery of high-quality care and …
RICHMOND, Va. — Erickson Living has started construction of Avery Point, a massive continuing care retirement community (CCRC) in the Short Pump area of Richmond. Upon full build-out, the community will feature 1,160 independent living units, 120 assisted living units, 60 memory care units and 60 skilled nursing beds. The property will comprise 14 individual buildings totaling 2 million square feet of space. Total development costs are estimated at $300 million. Phase I is currently under way, which is scheduled to deliver 200 independent living apartments and a 43,000-square-foot amenity …
NEW YORK CITY — Greystone has provided a $68.5 million Fannie Mae loan to refinance Capitol Apartments, a Section 8 affordable seniors housing property in New York. Located on 8th Avenue where Hell’s Kitchen meets the Theater District in Manhattan, Capitol Apartments features 278 studio and one-bedroom apartments, including 250 age-restricted Section 8 units and 28 non-age-restricted units. Originally built in 1925 as a hotel, the 18-story property was converted to apartments in the 1970s. The property also has six street-level retail spaces, which are currently occupied by restaurants, a wine …