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Active AdultDevelopmentNew JerseyNews

Coldwell Banker Opens Expansion at Paris Square Active Adult Community in Northvale, New Jersey

by Jeff Shaw

NORTHVALE, N.J. — Coldwell Banker has opened The Monroe and Madison Building at Paris Square, a 10-building, 111-unit active adult condominium community in Northvale, approximately 18 miles north of Manhattan. Anne Van Dyke from Coldwell Banker Realty’s Closter/Alpine Office and Coldwell Banker Realty New Homes announced the new building’s completion, and will also lead sales and marketing efforts. Prior to Coldwell Banker Realty New Homes’ involvement, Paris Square had undergone a 15-year construction process that had only resulted in the completion of half of its planned units. Years of no …

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Active AdultDevelopmentNewsSouth Carolina

Aspens Senior Living Opens 159-Unit Active Adult Community in Greenville, South Carolina

by Jeff Shaw

GREENVILLE, S.C. — Aspens Senior Living has completed construction of The Aspens Verdae, a 159-unit active adult community in Greenville. The property totals 196,000 square feet and offers one-and two-bedroom options ranging from 607 square feet to 1,243 square feet. Aspens broke ground on the project in December 2020. It is the company’s second community in the Carolinas. The site is close to Legacy Park, The Preserve at Verdae Golf Club and the Prisma Health Swamp Rabbit Trail. Shiel Sexton served as general contractor for The Aspens Verdae, with Arrive …

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Wally Sauthoff NAI Seniors Housing Sale
AcquisitionsActive AdultAssisted LivingContent PartnersFeaturesFinanceIndustry ContentInvestmentOperationsPeopleSkilled Nursing

Steps to Help Small Seniors Housing Owners Prepare for a Sale

by Sarah Daniels

The seniors housing market has had its fair share of well-documented struggles, including plunging occupancies during COVID-19 and continuing labor challenges. Like the rest of the commercial real estate market, the sector is now confronting higher interest rates and recession. Despite those headwinds, investor demand for seniors housing assets remains strong, says Dawn Davis, an advisor specializing in seniors housing and skilled nursing with NAI Greywolf in Milwaukee. But sellers are only now grudgingly coming to terms with the fact that, because capital has become more expensive, the price buyers …

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AcquisitionsActive AdultGeorgiaNews

Blaze Capital Partners Acquires 149-Unit Hardy Springs Active Adult Community in Dallas, Georgia

by Jeff Shaw

DALLAS, Ga. — Blaze Capital Partners has acquired Hardy Springs, a 149-unit active adult community in Dallas, approximately 30 miles northwest of Atlanta. Hardy Springs is a cottage-style community with 149 units spread across 53 buildings. Completed in May 2022, the community is built on 31 acres of land and consists of one- and two-bedroom apartments. The property marks the firm’s first acquisition of an active adult community, but with several more planned. Blaze now owns six multifamily properties in Georgia, with a total unit count of more than 860. …

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AcquisitionsActive AdultIndependent LivingIndianaNews

Blueprint Negotiates Sale of Discovery Commons at College Park in Indianapolis

by Jeff Shaw

INDIANAPOLIS — Blueprint Healthcare Real Estate Advisors has arranged the sale of Discovery Commons at College Park, a 148-unit independent living community in Indianapolis. A publicly traded REIT sold the asset to Elevation Financial Group, which plans to convert the community to active adult living. The price was not disclosed.

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AcquisitionsActive AdultAffordable HousingAssisted LivingDevelopmentFeaturesFinanceIndependent LivingIndustry ContentInvestmentOperationsPeopleSkilled NursingVideosWebinars

Webinar: Let’s Talk About the Outlook for Seniors Housing Investment and Finance

by Sarah Daniels

  Is there room for optimism in seniors housing? What does investor interest look like now? Learn about how interest rate increases are impacting seniors housing valuations, what a flight to quality means for different sectors, financing concerns and more. Watch the webinar here. Timestamps of major topics covered: (5:25) Impact of rising interest rates on seniors housing valuations (7:54) Effects broken down by sector: active adult, skilled nursing, assisted living (11:07) Financing in the current environment (13:21) Acquisition opportunities, plus deal flow and closing (18:10) Outlook for the market …

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Active AdultColoradoFinanceNews

Ziegler, M&T Partner for $19.5M Refinancing of Carmel Oaks Active Adult Community in Lakewood, Colorado

by Jeff Shaw

LAKEWOOD, Colo. — Ziegler and M&T Realty Capital Corp. have acted as financial advisor in a $19.5 million Fannie Mae financing on behalf of Essex Communities. The transaction will refinance the existing debt on Carmel Oaks, an age-restricted independent living community in Lakewood. The 10-year, fixed-rate loan was structured at a 75 percent loan-to-value ratio with five years of interest-only payments followed by a 30-year amortization. The loan also carried a declining prepayment schedule, which will provide the borrower with additional flexibility in future years. In addition to refinancing the …

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AcquisitionsActive AdultAssisted LivingIndustry ContentInvestmentOperationsSkilled NursingVideosWebinars

Webinar: The Great Squeeze — Vanishing Seniors Housing Operating Margins

by Sarah Daniels

    Operating margins are shrinking, with cap rates becoming harder to calculate and in-place cash flows lower than pre-pandemic levels. The Sept. 22 webinar “The Great Squeeze — Vanishing Seniors Housing Operating Margins” focused on the bottom line for industry owners and operators. The panel discussion, hosted by Seniors Housing Business and sponsored by Valuation & Information Group, sought to shed light on valuation impacts, debt, interest rates and equity. “In the early months of the pandemic, interest rates decreased. Cap rates for well-performing senior housing projects hit new lows. Meanwhile, …

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AcquisitionsActive AdultNewsUtah

IPA Brokers Sale of 144-Unit Lakeside Village Active Adult Community Near Salt Lake City

by Jeff Shaw

WEST VALLEY CITY, UTAH — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Lakeside Village, an active adult property in West Valley City. Constructed in 1997, Lakeside Village features 144 one- and two-bedroom residences with eight-foot ceilings, walk-in closets and private balconies or patios. The community includes a swimming pool, hot tub, community garden and pond. Danny Shin and Brock Zylstra of IPA represented the undisclosed seller and procured the undisclosed buyer in the deal. Terms of the transaction were not released.

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Active AdultDevelopmentMassachusettsNews

Live Give Play, Spiritos Properties Plan 79 King Street Active Adult Community in Northampton, Massachusetts

by Jeff Shaw

NORTHAMPTON, Mass. — Live Give Play and Spiritos Properties have announced plans for 79 King Street, an active adult community in Northampton, a suburb of Springfield. The property is located downtown on a walk/bike path and steps from Smith College. The 70-unit community is designed to achieve Passive House certification. The building rises five stories and totals 110,000 square feet. BKSK Architects is the designer. The developers plan to open the property in late 2024.

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