MYRTLE BEACH, S.C. — Hudson Capital Properties, a multifamily real estate investment and development firm focused on value-added acquisitions in the Southeast, has unveiled plans for The Retreat at Coastal Grand in Myrtle Beach. The high-end community, designed for 55-and-older residents, will feature 194 one-and two-bedroom residences. Construction is currently underway, but a timeline for completion was not released. Hudson is partnering with GHK Cape Fear Development and C&S Commercial Properties on the project. “With the combination of low taxes, reduced cost of living and warm weather, Myrtle Beach is …
ILLINOIS and NEW JERSEY — Harborview Capital Partners, a commercial real estate finance, equity and advisory firm, has arranged a total of $60 million in HUD financing for a portfolio of skilled nursing facilities in Illinois and New Jersey. In the first loan, Harborview arranged $7 million in financing for a 96-bed skilled nursing facility in Lake County, Illinois. The non-recourse loan features a 35-year amortization. Ephraim Kutner and Jonathan Kutner originated the transaction. Harborview also placed $53 million in HUD refinancings for multiple skilled nursing facilities totaling more than …
SAN FRANCISCO — Sequoia Living, a nonprofit organization that operates seniors housing and provides services to the elderly in Northern California, has hired Sara McVey as president and CEO. McVey succeeds David Berg, who retired in September. Bringing more than 20 years of marketing and senior living management experience to Sequoia Living, McVey previously served as CEO of Horizon House, a continuing care retirement community in Seattle. Prior to that, she held executive leadership roles at Mather LifeWays, an operator of senior living communities. McVey earned a bachelor’s degree in …
BRIARCLIFF MANOR, N.Y. — Senior Lifestyle Corp. has welcomed its first residents at The Club at Briarcliff Manor, a seniors housing community in Briarcliff Manor, a village along the Hudson River approximately 30 miles north of New York City. The property offers 167 independent living units, 87 assisted living units and 33 memory care units in two interconnected buildings. The site was formerly home to Briarcliff Lodge, a grand resort hotel built in the early 1900s. The 59-acre property features views of the Hudson River and Manhattan skyline, numerous walking …
CHETEK, BLACK RIVER FALLS, BLOOMER and OCONTO FALLS, Wis. — Senior Living Investment Brokerage (SLIB) has arranged the sale of four skilled nursing facilities and three assisted living communities located throughout the northern half of Wisconsin. The properties total 394 beds and are located in Chetek, Black River Falls, Bloomer and Oconto Falls. The properties range in size from 34,070 square feet to 61,170 square feet. The Atrium portfolio was placed into receivership September 2018 when a for-profit owner-operator based in the East Coast was unable to fulfill its financial …
CARTERSVILLE, Ga. — American Lending Center (ALC), an EB-5 regional center, has opened The Fountains in Cartersville, an assisted living and memory care community in Cartersville. Located approximately 45 miles northwest of Atlanta, this project marks ALC’s first investment in the state of Georgia. Further details on the size of the project were not released.
CLEVELAND — OnShift, an HR software provider for post-acute care and senior living, has added Addison Grimes as senior vice president of engineering and Jim Alland as chief sales officer. Grimes is a tenured technology executive. His nearly 30 years of experience in technology leadership roles covers applicant tracking, onboarding, performance management, employee engagement, team and individual assessments, succession planning, learning management systems and human resources systems. Grimes has held senior leadership positions at Monster, Kenexa and Assure Software. Most recently, he served as chief technology officer at ScheduleSoft Corp., …
FRANKLIN, Wis. — New Perspective Senior Living has hired Jason Wilson as executive director of New Perspective Franklin, a seniors housing community scheduled to open in spring 2020 in the Milwaukee suburb of Franklin. A former police officer in South Milwaukee and restaurant owner in West Allis, he changed careers to the senior living industry after taking care of his late father at home in hospice care. Wilson was director of operations for three years at Luther Manor senior living community in Wauwatosa. Wilson holds a Community-Based Residential Facilities Administrators …
FLAGSTAFF, Ariz. — Arizona real estate developer Desert Land Group and Texas-based senior living management company Civitas Senior Living have started construction on their newest senior living boutique project, The Bluffs of Flagstaff. Totaling approximately 210,572 square feet, the community will feature 120 independent living, 66 assisted living and 18 memory care apartments. The Bluffs of Flagstaff is scheduled for completion in fall 2021. The architect for the project is Kaas Wilson, with Greenberg Construction as general contractor. Senior By Design is providing additional design services.
MOUNT PLEASANT and LENOIR CITY, Tenn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Mount Pleasant Health and Rehabilitation in Mount Pleasant and Trinity Health and Rehabilitation in Lenoir City. The properties are approximately 200 miles apart. Mount Pleasant features 72 beds and 30 independent living units in a 39,048-square-foot property situated on six acres south of Nashville. Trinity features 104 skilled nursing beds and a vacant assisted living area in a 57,686-square-foot property on 4.7 acres southwest of Knoxville. Bradley Clousing, Daniel Geraghty and Ryan Saul …