CHESTERTON, Ind. — Carmel, Ind.-based skilled nursing developer Mainstreet and post-acute operator Symphony Post Acute Network have broken ground on Symphony of Chesterton, a rehabilitation center in Chesterton.
CROSSVILLE and BRISTOL, Tenn. — Dominion Senior Living has planned two new assisted living and memory care communities in Tennessee, with development of each costing $5.25 million.
MERRILLVILLE, Ind. — McShane Construction Company has been selected to build Merrillville Memory Care, a 50-bed memory care community in Merrillville, a small town in the northwest corner of Indiana.
SKOKIE, Ill. — Ziegler, a specialty investment bank, has arranged two financings totaling over $135 million for Covenant Retirement Communities (CRC), a Skokie-based nonprofit owner and operator of continuing care retirement communities (CCRCs).
BATON ROUGE & LAFAYETTE, La. — Avanti Senior Living, a seniors housing developer, owner and operator, is developing two new seniors housing communities in Louisiana, one in Baton Rouge and one in Lafayette.
GEORGETOWN AND PFLUGERVILLE, Texas — Granite Investment Group has sold two seniors housing properties near Austin for $23.4 million.
SUN CITY, Ariz. — Private equity investment firm Chicago Pacific Founders (CPF) and its affiliate CPF Living Communities have acquired The Carillons, a 79-unit senior living community in Sun City. The purchase price was $7.2 million, which was financed with equity and a loan from PNC Bank.
The seniors housing industry is extremely active on the development front so far in 2015, with no signs of slowing down. Nationally, there are 12,000 units of independent living — over four times last year’s pace — and 20,000 units of assisted living currently under construction, according to a March report from Marcus & Millichap.
SEATTLE — Zenith Capital has hired Anthony Hemstad as the Seattle-based lender’s new managing director.
ORLANDO, Fla.— CNL Healthcare Properties, a real estate investment trust (REIT) focused on seniors housing and healthcare facilities, has named Kevin Maddron chief financial officer, treasurer, and chief operating officer. He will also continue to serve as senior managing director of asset management for CNL Financial Group, overseeing the company’s seniors housing and healthcare real estate portfolio.