BALTIMORE — SunTrust Banks Inc. has provided a $60 million loan for the expansion of Roland Park Place, a nonprofit continuing care retirement community in Baltimore.
OVERLAND PARK, Kan., and BLUE SPRINGS, Mo. — LANE4 Property Group has started construction of two independent living communities in the Kansas City suburbs of Overland Park and Blue Springs.
LOGANVILLE and CONYERS, Ga. — Phoenix Senior Living, a privately-held senior living operator with communities throughout the Southeast, has entered into a joint venture with White Oak Healthcare REIT. The new venture will launch with two seniors housing acquisitions in metro Atlanta.
DALLAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 33-unit memory care community in the Turtle Creek neighborhood of Dallas.
DALLAS — Watermark Retirement Communities has been named the new operator of HarborChase of the Park Cities in Dallas, rebranding the property as The Preston of the Park Cities.
PHOENIX — Life Care Services is developing the $100 million second phase at Sagewood in Phoenix. Westminster Capital is the joint venture development partner of the property, which opened in 2010 and currently has 316 units. Situated on 3.5 acres, the 220,000-square-foot second phase will include 101 independent living apartments. Phase II will feature one- and two-bedroom apartment homes; an 18-hole championship golf putting course; new dining facilities, including The Owl’s Nest restaurant and lounge; expansion of the existing Canyon Café; and an expansion of the current Palo Verde Dining …
PALM BEACH GARDENS, Fla. — CBRE National Senior Housing has secured financing for the acquisition of HarborChase of Palm Beach Gardens, an assisted living and memory care facility in Palm Beach Gardens, 15 miles north of West Palm Beach, Fla. The borrower is a joint venture between Silverstone Senior Living and Crescent Real Estate. An affiliate of Silverstone, in partnership with an institutional equity partner, developed the 120-unit property, which opened in 2017. On-site amenities include a virtual bowling alley, doctor’s office and an art studio. Harbor Retirement Associates will continue …
RANCHO CUCAMONGA, Calif. — 1031 CF Properties, an affiliate of 1031 Crowdfunding, has purchased an assisted living and memory care facility located in Rancho Cucamonga for $20.1 million. Meridian Senior Living operates the 100-bed property. Additional terms of the transaction were not released. 1031 Crowdfunding is an online marketplace where real estate investors can find, view and purchase a variety of available, turn-key, investment-grade properties.
SKOKIE, Ill. — Covenant Living Communities and Services, a Skokie-based not-for-profit retirement living organization, has named James Torrible as vice president of fund development for the organization. In this role, Torrible will be responsible for strategic oversight on all aspects of fund development throughout the organization and for providing executive leadership for directors of development at Covenant Living communities across the country. Additionally, he will be responsible for establishing organization-wide fund development systems and tools and the strategic leadership for the Covenant Living Foundation. “Bringing James to Covenant Living allows us …
BROOKINGS, ORE. — A regional operator has acquired Ocean Park Memory Care, a memory care facility located on Route 101 in Brookings. An undisclosed REIT sold the property for $3.4 million. Situated on 16.9 acres, the 21,026-square-foot facility features 40 units offering a total of 55 memory-care beds. Jason Punzel, Brad Goodsell and Vince Viverito of Senior Living Investment Brokerage handled the transaction.