NORTH RIVERSIDE, Ill. — The Illinois St. Andrew Society has completed construction of The Caledonian House, a 20-unit memory care building in the Chicago Suburb of North Riverside.
BALTIMORE — Capital Funding Group (CFG) has provided $40 in financing for seniors housing communities throughout the United States in four separate transactions.
SCOTTSDALE, Ariz. — Brendan Morrow and Michael Hass, both former directors for builder The Weitz Company, have started a new seniors housing development company named Drive Development Partners.
ANNAPOLIS, Md. — The average occupancy rate for independent living and assisted living properties in the second quarter of 2016 dropped to 89.7 percent, as new inventory outpaced absorption of units, according to a quarterly report from the National Investment Center for Seniors Housing & Care (NIC).
MIAMI — Multifamily operator Greystar has purchased a 0.9-acre development site across from the Dadeland Mall in Miami’s Kendall neighborhood for $10.3 million. The company plans to develop a 216-unit active adult community on the site.
ATLANTA — Affordable housing developer Vitus Group has acquired Abernathy Towers, a 99-unit affordable housing complex for seniors, with plans to renovate the community. Details of the transaction were not disclosed.
CHICAGO — Giant seniors housing REIT Ventas (NYSE: VTR) has agreed to acquire all the life sciences and medical real estate assets of Wexford Science & Technology for $1.5 billion. Wexford will continue to operate the portfolio, which includes 25 Class A properties totaling 4.5 million square feet.
Grace Healthcare Exits Western Markets with $15.3M Sale of Three Colorado Skilled Nursing Facilities
PAONIA, GLENWOOD SPRINGS and ROCKY FORD, Colo. — Seniors housing owner/operator Grace Healthcare has officially exited all Western U.S. states with the $15.3 million sale of its final three skilled nursing communities in Colorado.
DOVER, N.H. — Cushman & Wakefield has arranged $15.1 million in financing for LCB Senior Living, which will use the funds to help build Residence at Silver Square, a 76-unit independent living, assisted living and memory care community in Dover, approximately 70 miles north of Boston.
KEARNEY, Neb. — Agemark Corp. has named Susie Peterson the executive director of CountryHouse Residence for Memory Care in Kearney, located approximately 180 miles west of Omaha.