THE WOODLANDS, Texas — Senior Lifestyle Corporation has been named the new property management team for The Village at The Woodlands Waterway in The Woodlands, making it the 17th property the company manages in Texas.
DALLAS — Presbyterian Communities and Services, a faith-based nonprofit organization comprised of continuing care retirement communities (CCRCs) and hospice services, has named Darrell Baltimore as executive director of Grace Presbyterian Village.
SHAWNEE, Kansas — Granite Investment Group has acquired a 48-unit assisted living facility in the Kansas City suburb of Shawnee for $7.2 million. The transaction was completed at an all-in cap rate of approximately 8.4 percent and features a long-term bond net lease that expires in 2030.
KEARNS, Utah — RED Capital Partners LLC, the proprietary debt and equity banking arm of comprehensive capital provider RED Capital Group LLC, has completed a $13.86 million balance sheet loan to Link Development LLC for the construction of Summit Senior Living, located just outside Salt Lake City.
NEW YORK — American Realty Capital Healthcare Trust II Inc., currently a non-traded real estate investment trust (REIT), plans to file an application to list its common stock on a national stock exchange. Subject to approval, the company expects its common stock to begin trading during the third quarter of 2015. Concurrent with the listing, the company intends to change its name to Healthcare Trust Inc. and list on the market as “HTI.”
A newly released survey of seniors housing developers and operators reveals the overwhelming majority plan to focus more on new construction and renovation than acquisitions in 2015. One major reason: record-setting sales prices.
KISSIMMEE, Fla. — HJ Sims, an investment bank and brokerage firm, is financing Tuscan Isle, a seniors housing community in Kissimmee. Tuscan Isle will be comprised of 120 independent living units, 56 assisted living units and 36 memory care units.
VINCENNES, IND. — Flaherty & Collins Properties and Myszak + Palmer will host a grand opening ceremony for Clark’s Crossing, a senior living center in Vincennes, on March 18. The property is located at 300 N. 6th St. Clark’s Crossing features 47 one- and two-bedroom apartment homes, which include fully equipped kitchens with energy efficient appliances, hardwood flooring, oversized closets, and washers and dryers.
BRENTWOOD, TENN. AND IRVINE, CALIF. — Brookdale Senior Living Inc. (NYSE: BKD) and HCP Inc. (NYSE: HCP) have entered into a definitive agreement to purchase a portfolio of 35 private-pay seniors housing communities from Canadian real estate investment trust Chartwell Retirement Residences for $849 million.
Many appraisal districts across the country will re-start the appraisal process on all properties in their respective locations at the start of the new year. A vast majority of these appraisers are trained to value the most common property types in their jurisdictions such as office, multi-family, retail, etc.; however, the seniors living valuation methodologies are not part of the appraisal district’s strong suit. Inaccurate property valuations result when districts are unfamiliar with the senior housing market overall. The more services offered at these facilities unrelated to real estate often …