Author

Jeff Shaw

Active AdultDevelopmentNewsNorth Carolina

Flournoy Breaks Ground on Active Adult Community in Asheville, North Carolina

by Jeff Shaw

ASHEVILLE, N.C. — Flournoy Development Group has broken ground on a new active adult community in Asheville. The Class A property will be part of The Preserve at Busbee Mountain, a 130-acre, master-planned residential development in Central Asheville’s dynamic southern corridor. The active adult community, which was not yet named, will follow development of Ellison at The Preserve, a 315-unit conventional multifamily community, and later followed by a second conventional multifamily phase and single-family estate lots. The 179-unit active adult community will feature mountain and forest views. Construction is currently …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsCompany NewsNewsOperations

Onelife Senior Living and Ally Senior Living Complete Merger

by Jeff Shaw

DENVER — Onelife Senior Living, a Denver-based developer and operator, and Ally Senior Living, a Texas-based operator, have merged. The combined company manages 19 communities across eight states and will retain Onelife Senior Living’s name and branding. The companies began merger conversations in 2023 and the deal closed this month. Terms of the transaction were not announced. Dan Williams, previously CEO of Ally Senior Living, and Zack Falk, previously CEO of Onelife, will lead the combined company. Executive team members from both companies will fill roles in the newly established …

Continue Reading
0 FacebookTwitterLinkedinEmail
Assisted LivingCaliforniaDevelopmentNews

Clearwater Living Opens 101-Unit Community in Newport Beach, California

by Jeff Shaw

NEWPORT BEACH, Calif. — Clearwater Living has opened Clearwater Newport Beach, a 101-unit seniors housing community in the coastal Orange County city of Newport Beach. Clearwater Newport Beach offers 70 assisted living and 31 memory support apartments. Clearwater Living actively acquires, develops and operates a full range of seniors housing communities throughout the Western United States. Clearwater Newport Beach will be the company’s 11th community in California, Nevada and Arizona, with additional developments in the pipeline.

Continue Reading
0 FacebookTwitterLinkedinEmail
CCRCDevelopmentFinanceIndependent LivingNewsNorth Carolina

Ziegler Arranges $67.2M Bond Financing for United Methodist Retirement Homes

by Jeff Shaw

DURHAM, LUMBERTON and GREENVILLE, N.C. — Ziegler has arranged $67.2 million in bond financing for The United Methodist Retirement Homes (UMRH), a North Carolina-based nonprofit owner-operator of three continuing care retirement communities in the state. The borrower’s portfolio includes Croasdaile Village Retirement Community in Durham, Wesley Pines Retirement Community in Lumberton and Cypress Glen Retirement Community located in Greenville.  In total, the three communities comprise a total of 690 independent living units, 28 memory care units, 112 assisted living units and 194 skilled nursing units, which ranks UMRH as the …

Continue Reading
0 FacebookTwitterLinkedinEmail
ArizonaCCRCDevelopmentIndependent LivingNews

Ryan Cos. Completes 142,000 SF Second Phase of Friendship Village Tempe Redevelopment in Arizona

by Jeff Shaw

TEMPE, Ariz. — Ryan Cos. US Inc. has completed the second phase of a master-planned renovation on the 50-acre campus of Friendship Village Tempe.  The newly constructed, four-story, 142,000-square-foot building is 89 percent occupied. LCS Development is leading the project, and the operator is LCS. Friendship Village Tempe, one of the first continuing care retirement communities in the region, was originally built in 1980. The revitalization of its campus began with Phase I of construction in 2019. Ryan A+E Inc., the design studio of Ryan, was the architect for both …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAssisted LivingFinanceIowaNews

Jaybird Senior Living Receives $17.9M Acquisition Financing for Two Communities in Iowa

by Jeff Shaw

MASON CITY and INDIANOLA, Iowa — JLL Capital Markets has arranged acquisition financing for two assisted living and memory care communities in Iowa on behalf of affiliates of Jaybird Senior Living. The facilities, Vintage Hills in Indianola and Country Meadow Place in Mason City, total 118 units combined. Jaybird already managed both properties prior to the acquisition. JLL secured two loans totaling $17.9 million, or $151,436/unit, representing greater than 80 percent of the total purchase price. One loan was facilitated through a regional bank, while the other utilized the HUD/FHA …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsMassachusettsNews

JLL Negotiates Sale of 80-Unit The Residence at Orchard Grove in Shrewsbury, Massachusetts

by Jeff Shaw

SHREWSBURY, Mass. — JLL Capital Markets has arranged the sale of The Residence at Orchard Grove, a seniors housing community in Shrewsbury, a suburb just east of Worcester. JLL represented the seller, Blue Moon Capital Partners, and procured the buyer, a public REIT. LCB will continue to manage the community operations. The price was not disclosed. The Residence at Orchard Grove comprises 80 independent living, assisted living and memory care apartments. The three-story building spans 75,000 gross square feet and first opened its doors in October 2017.Jay Wagner, Aaron Rosenzweig, Rick Swartz …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAssisted LivingNewsSouth Carolina

Blueprint Brokers Sale of Five-Property Portfolio in South Carolina

by Jeff Shaw

SOUTH CAROLINA — Blueprint Healthcare Real Estate Advisors has arranged the sale of five assisted living and memory care communities in South Carolina. The 334-unit portfolio is located in multiple cities throughout the state, all built in the late 1990s. A court-appointed Receiver selected Blueprint to lead the disposition process on behalf of the lender. Spring Oak, a family-owned company based in New Jersey, purchased the properties for an undisclosed price. Brooks Blackmon, Ryan Chase and Lauren Nagle led the Blueprint team.

Continue Reading
0 FacebookTwitterLinkedinEmail
Assisted LivingColoradoDevelopmentFinanceNews

Lument Arranges $27M Construction Financing for Mesa Verde Estates in Durango, Colorado

by Jeff Shaw

DURANGO, Colo — Lument has arranged a $27 million debt placement to assist Mission Senior Living with the construction of a 124-unit, 129-bed, two-story assisted living and memory care community to be known as Mesa Verde Estates in Durango.  Lument’s Steve McGee, Rob McAdams, and Sangjin Na led the transaction. The financing structure included a $20.9 million U.S. Department of Agriculture (USDA) guaranteed loan that a community bank provided. The structure also includes approximately $6 million of commercial property assessed clean energy (C-PACE) proceeds, which Lument sourced from an independent …

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentNewsPennsylvania

Tryko Nears Completion of 46-Unit Cedarwood Homes Affordable Community in Pittsburgh

by Jeff Shaw

PITTSBURGH — With construction progressing on schedule for a March 2024 delivery, leasing is underway at Cedarwood Homes in Pittsburgh’s West End.  An on-site leasing office is now open at the age-restricted affordable housing community, marking a milestone for Tryko Partners’ redevelopment of the former Fairywood School site.  Available to residents ages 62 and over, Cedarwood Homes includes seven market-rate apartments and 39 residences for those with incomes up to 60 percent of the area median income.

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts