PHILADELPHIA — Will today’s emerging aging-in-place technologies, designed to help the elderly remain in their own home for a longer period of time, lead to significantly reduced demand for seniors housing? The question was a hot topic at the InterFace Seniors Housing Northeast conference last Thursday in Philadelphia following a recent front-page article in The Wall Street Journal under the following headline: “Boomers Want to Stay Home. Senior Housing Now Faces Budding Glut.” The piece argues that aging-in-place technology poses a challenge to builders of senior living communities, particularly at a …
JERICHO, N.Y. — Engel Burman has opened Encore Luxury Living, a seniors housing community in the Long Island hamlet of Jericho. The property offers active adult living, with rents starting at $8,400 per month. Housekeeping and maintenance are included in the rent. The location is across the street from a library and a Whole Foods-anchored shopping center. The community features 59 one-bedroom units, 42 two-bedroom units and one three-bedroom unit. Unit sizes range from 826 to 1,500 square feet. The property will share a campus with Engel Burman’s existing assisted …
WYNDMOOR, Pa. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Wyndmoor Hills, a 180-unit rental continuing care retirement community (CCRC). The community is located on 12 acres in Wyndmoor, an affluent suburb just north of Philadelphia. The building totals 214,288 square feet. Blueprint represented the court-appointed receiver for the sale of the financially distressed community. The receiver took over operational control and saw immediate improvement, allowing the property to be marketed as a value-add opportunity. A regional buyer with a track record for turnaround projects acquired the …
BREWSTER, Mass. — OREC Securities, the investment banking affiliate of Lancaster Pollard, has arranged the sale of Pleasant Bay Nursing and Rehabilitation Center in the Cape Cod town of Brewster. The community is a five-star rated facility with 135 skilled nursing beds and 59 assisted living units. Although the original plan was to split the community into two separate sales, a regional owner-operator bought the properties as a single asset. Laca Wong-Hammond, Chad Elliott, Kevin Laidlaw and Aaron Becker led the transaction for OREC. The seller and price were not …
NEW ALBANY, Ohio — Trilogy Health Services has Smith’s Mill Health Campus, a seniors housing community in New Albany, a suburb of Columbus. The assisted living and skilled nursing services will be offered on the first floor, with independent living on the second floor. A separate area named Legacy Lane will provide memory care services. The number of units was not disclosed. In addition to traditional skilled nursing, the health center will offer rehabilitation, outpatient therapy and adult daycare services. Paragon Rehabilitation will provide the team of physical therapists. Trilogy …
MONUMENT, Colo. — WellAge has named Dena Mackey as executive director of Jackson Creek Senior Living, a 137-unit independent living, assisted living and memory care community in Monument, located between Denver and Colorado Springs. Mackey has more than 16 years’ experience in the senior living industry. She started her career as a certified nursing assistant in an memory care unit and eventually worked at Poudre Valley Hospital on the medical floor and in the operating room. Mackey has also worked as an assisted living director, memory care director and hospice …
NEW ROCHELLE, N.Y. — The Masonic Hall and Asylum Fund has acquired the former College of New Rochelle campus just north of the Bronx for $32 million, according to reports from The Journal News. The college declared bankruptcy in September, and sister school Mercy College absorbed all the students, faculty and programs. Although specific plans for the future of the property were not disclosed, Masonic Hall and Asylum Fund operates Masonic Care Community, a seniors housing community in Utica. The group also runs a summer camp and DeWint House, George …
POWAY, Calif. — Owner-operator Cadence Living and Sabra Health Care REIT have acquired Sunshine Care, a 32-acre seniors housing community in Poway, a suburb of San Diego. Now named Cadence at Poway Gardens, the property is situated near the Palomar Hospital. The community is known for its horticultural therapy program that grows more than 20,000 pounds of organic fruits and vegetables every year. “To be able to produce an in-house farm-to-table experience as an activity that brings staff, families and their loved ones together sets Cadence at Poway Gardens apart …
WASHINGTON, D.C. — A project development team comprising Dantes Partners, Gilbane Development Co., Carding Group and H Street Community Development Corp. has broken ground on Livingston Place at Southern in Washington D.C.’s Ward 8. The five-story community offers 152 units of affordable assisted living. Partners on the project include the D.C. Housing Finance Agency (DCHFA), the D.C. Department of Health and the Department of Healthcare Finance. Residents must be at least age 60 and earn no more than 60 percent of the area median income. The project is the first …
NEW YORK CITY — New York-based Meridian Capital Group’s seniors housing and healthcare team has arranged $60 million in financing for two portfolios of memory care assets across Ohio, Georgia, South Carolina, Colorado, California and Tennessee. Ari Adlerstein, Ari Dobkin and Josh Simpson of Meridian negotiated the two transactions, which will refinance existing debt on the properties. In the first transaction, Meridian arranged $27.5 million for four memory care facilities totaling 264 beds in Ohio and Georgia. The five-year loan features a fixed rate and limited personal guarantees. In the …