Author

Jeff Shaw

DevelopmentFloridaNews

Belmont Village Opens 10-Story Community in Coral Gables, Florida

by Jeff Shaw

CORAL GABLES, Fla. — Belmont Village Senior Living, in partnership with Baptist Health South Florida, has opened Belmont Village Senior Living Coral Gables, a 232-unit seniors housing community located in Coral Gables.  Corwil Architects designed the South Florida property, which features independent living, assisted living and memory care residences across 10 stories. Amenities at the community, which also offers ground-floor retail space, include indoor and outdoor socialization spaces, a pool surrounded by a full-service bistro and bar, outdoor lounge with a dining area and barbecue kitchen, fitness room, outdoor movie …

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Distinctive Living Names Angela Clark as Chief Sales, Marketing Officer

by Jeff Shaw

FREEHOLD, N.J. — Distinctive Living, a Freehold-based provider of senior living communities, has appointed industry veteran Angela Clark as chief sales and marketing officer.  Clark brings 25 years of operational management in seniors housing across sales and marketing, sales training and development, operational strategy, multi-site management, strategic planning, and new product development.  Clark’s expertise ranges from small growing brands to established communities to organizations in acquisition mode. She has experience working with seniors in active adult, independent living, assisted living, memory care and skilled nursing.  In her role, Clark will …

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AcquisitionsAssisted LivingFloridaNews

Blueprint Arranges Sale of Assisted Living Community in Lakeland, Florida

by Jeff Shaw

LAKELAND, Fla. — Blueprint Healthcare Real Estate Advisors has arranged the sale of an assisted living facility in Lakeland, approximately midway between Orlando and Tampa. A publicly traded REIT sold the asset to a local owner-operator in an all-cash transaction. The price and name of the community were not disclosed. At the time of marketing, the community’s performance was trending back upward following a decline in 2020 and 2021. Brooks Blackmon and Lauren Nagle led the Blueprint team.

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Pennrose Promotes Two to Executive Positions

by Jeff Shaw

PHILADELPHIA — Pennrose, a Philadelphia-based developer of multifamily properties including seniors housing, has promoted Marsha Blunt to president of Pennrose Management Co. (PMC) and Margot Elton-Ratliff to vice president of operations. Blunt will be responsible for the financial and operational performance of the organization, overseeing the property operations, risk management, compliance and maintenance departments. Elton-Ratliff will be responsible for enhancing company performance by providing overall direction and guidance of Pennrose operating activities. Blunt joined Pennrose in 2006, serving as regional property manager and later regional vice president, where she oversaw …

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Affordable HousingDevelopmentFinanceMassachusettsNews

MassHousing Funds Upgrades Shawme Heights Affordable Community in Sandwich, Massachusetts

by Jeff Shaw

SANDWICH, Mass. — MassHousing has provided $6.2 million in financing to Sandwich Senior Housing Corp. The funds will be used to improve the physical plant of Shawme Heights Apartments, an affordable seniors housing community in the Cap Cod town of Sandwich. The nonprofit Sandwich Senior Housing Corp. refinanced the property through MassHousing’s Multifamily Accelerated Processing (MAP)/Ginnie Mae Joint Venture program with partner lender Rockport Mortgage Corp. MassHousing offers the MAP/Ginnie Mae loan program to the owners of rental housing through the U.S. Department of Housing and Urban Development (HUD). HUD …

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Company NewsFeaturesNews

NIC Awards $3M to Milken Institute to Establish Aging Innovation Collaborative

by Jeff Shaw

SANTA MONICA, Calif. — The National Investment Center for Seniors Housing & Care (NIC) has awarded $3 million to the Santa Monica-based Milken Institute. The funds will be used to establish the Aging Innovation Collaborative (AIC) within the Institute’s Center for the Future of Aging, which advances healthy longevity and financial security through policy, research, convenings and multisector partnerships. The AIC will engage experts to develop new models of housing, healthcare and community that meet the needs of a growing U.S. population of older adults. By removing silos between industries …

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FeaturesNewsSkilled Nursing

Skilled Nursing Occupancy Increased 59 Basis Points in August

by Jeff Shaw

ANNAPOLIS, Md. — Skilled nursing occupancy nationwide increased 59 basis points from July to August, reaching 82.3 percent at the end of the month. That’s according to a blog post this week by Bill Kauffman, senior principal with the National Investment Center for Seniors Housing & Care (NIC). The Annapolis-based organization is the main source of data tracking for the seniors housing industry. The new skilled nursing occupancy number is an increase of 142 basis points from the pandemic low of 75 percent in January 2021. Occupancy hovered around 81 …

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Affordable HousingFinanceNew YorkNews

Rockabill, BWE Provide $16.9M Refinancing for Monastery Manor Affordable Community in Yonkers, New York

by Jeff Shaw

YONKERS, N.Y. — Rockabill and BWE have provided a $16.9 million Fannie Mae loan to refinance debt on Monastery Manor, a 147-unit affordable apartment building for seniors just north of New York City in Yonkers. The borrower is nonprofit owner-operator Finian Sullivan Corp. Proceeds from the refinancing will be used to fund renovations at the property and pay off existing debt. The refinancing also includes an extension of the property’s existing PILOT agreement with the Yonkers Industrial Development Agency. BWE’s Jim Gillespie and Ilya Weinstein originated the loan. Units are …

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ArizonaFinanceNewsSkilled Nursing

CFG Funds $10.9M HUD Refinancing for Skilled Nursing Facility in Arizona

by Jeff Shaw

ARIZONA — Capital Funding Group (CFG) has provided a $10.9 million HUD loan, which refinances an existing bridge loan on a 112-bed skilled nursing facility in Arizona. CFG originally arranged the bridge loan as well.  Tommy Dillon originated the transaction for CFG. No further details were provided.

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Affordable HousingDevelopmentFloridaNews

HTG, AM Affordable Housing Break Ground on $37M Oasis at Aventura in Miami

by Jeff Shaw

MIAMI — A joint venture between Housing Trust Group (HTG) and AM Affordable Housing has broken ground on a $37 million affordable seniors housing project located at 18700 NE 25th Ave. in Miami. Dubbed Oasis at Aventura, the development will feature 95 one-bedroom units across eight stories reserved for residents age 62 years or older earning at or below 25, 33 and 60 percent of the area median income (AMI). Amenities at the community will include a community room, fitness center, business center, library and lounge and outdoor terrace. Monthly …

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