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Active Adult

Active AdultDevelopmentNewsVirginia

Bonaventure Starts Construction of 133-Unit Community in Alexandria, Virginia

by Jeff Shaw

ALEXANDRIA, Va. — Bonaventure has started construction of a 133-unit luxury senior living project in the Old Town West neighborhood of Alexandria. The development will feature a six-story building with underground parking, studio, one- and two-bedroom living options. Bonaventure expects to complete construction and begin welcoming renters in late 2023. The community is situated centrally in the Old Town West neighborhood and is transit-oriented. It is less than 0.3 miles from the Braddock Road Metro Station, 1.5 miles to Interstate 495, and less than three miles from Reagan National Airport. …

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Active AdultAffordable HousingDevelopmentMichiganNews

Lockwood Breaks Ground on $45M Community in Ann Arbor, Michigan

by Jeff Shaw

ANN ARBOR, Mich. — Lockwood Cos. has broken ground on Lockwood of Ann Arbor, a 154-unit seniors housing community in Ann Arbor. The three-story, 168,130-square-foot building includes 65 units dedicated as affordable housing. Development costs were estimated at $45 million. Rents will range from $864 for a one-bedroom apartment to $2,750 for a two-bedroom apartment.

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Active AdultFeaturesNews

Active Adult Success Depends on Educating Customers on Lifestyle, Says Ryan Frederick

by Jeff Shaw

DALLAS — Active adult housing, usually reserved for people over either age 55 or 62 and offering amenities but no aging services, targets a quickly growing demographic as 10,000 baby boomers reach retirement age every day. However, the biggest challenge to reaching that demographic might be teaching them what active adult housing is exactly. “A lot of people are challenged by thinking of housing as a binary choice — ‘I’m going to age in place or go to skilled nursing,” said Ryan Frederick, CEO of consulting firm SmartLiving 360. “Many …

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AcquisitionsActive AdultNewsTexas

Lloyd Jones, ST Real Estate Acquire 138-Unit Trinity Courtyard in Fort Worth

by Jeff Shaw

FORT WORTH, Texas — Lloyd Jones, in partnership with with ST Real Estate Holding Inc., has acquired Trinity Courtyard, a 138-unit active adult community in Fort Worth. Trinity Courtyard is located on six acres near downtown Fort Worth, the second fastest- growing large city in the United States, giving residents access to a diverse array of entertainment, retail and outdoor recreation. The property will operate under Lloyd Jones’ proprietary Aviva brand as AVIVA Fort Worth. The seller and price were not disclosed.

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AcquisitionsActive AdultNew YorkNews

Cushman & Wakefield Arranges Sale of 102-Unit Farrell Communities at Lakeside in Newburgh, New York

by Jeff Shaw

NEWBURGH, N.Y. — Cushman & Wakefield has arranged the sale of Farrell Communities at Lakeside, a 102-unit active adult community in the Hudson Valley city of Newburgh. The community opened in 2020 and features 30 one-bedroom units and 72 two-bedroom units. Cushman & Wakefield’s Adam Spies, Brian Whitmer, Niko Nicolaou, Ryan Dowd and Peter Welch represented the owner, Farrell Communities, and procured the buyer, Castle Lanterra Properties. The price was not disclosed.

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AcquisitionsActive AdultNews

Walker & Dunlop Negotiate Sale of 25-Property Portfolio for $502M

by Jeff Shaw

BETHESDA, Md. — Walker & Dunlop’s Seniors Housing Investment Sales team, based in Bethesda, has brokered the sale of 25 seniors housing communities in the Midwest and East Coast for $502 million. Calamar sold the assets, which are all active adult communities under the Connect55+ brand. The buyer was REIT giant Welltower (NYSE: WELL). Average monthly rents are $1,300 per month, and the average length of stay is over five years. The Walker & Dunlop team included Josh Jandris, Brett Gardner, Tony Cassie, Mark Myers, Gideon Orion, Jordyn Berger, Alex …

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AcquisitionsActive AdultNewsPennsylvania

Livingston Street Capital Buys 231-Unit Active Adult Community in King of Prussia, Pennsylvania

by Jeff Shaw

KING OF PRUSSIA, Penn. — An affiliate of Livingston Street Capital, a boutique private equity firm, has acquired Canvas at Valley Forge, a 231-unit, Class A active adult community in King of Prussia, a suburb of Philadelphia. The luxury asset brings the firm’s multifamily portfolio, which currently comprises primarily active adult communities, to more than 1,800 units located throughout seven states. “This investment opportunity is well aligned with the core of our active adult strategy,” explains Peter Scola, founder, president and co-CEO of Livingston Street Capital, who notes that according …

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Kate Risa Paychex Seniors HR
Active AdultAssisted LivingCCRCContent PartnersFeaturesIndustry ContentOperationsPeopleSkilled Nursing

Outsourced HR Meets the Challenges of Senior Living Staffing

by Sarah Daniels

Due to the nature of their clientele, senior living operators continually need to market their services to attract prospective new residents. But it’s not just new residents that they need to attract: it’s new employees as well. For the reality is that the senior living market faces some of the highest employee turnover rates in the service industry: upwards of 50 percent annually. Multiple factors are the culprit, including lower-than-average salaries, the difficulties of working with an aging and often high-acuity population, as well as few perceived opportunities for advancement, …

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Active AdultFeaturesNews

InterFace Panel: Lease-Up Represents Most Challenging Phase of Active Adult Development

by Jeff Shaw

DALLAS — Completing the lease-up and stabilization of new communities in a timely and cost-efficient manner is the most difficult aspect of developing active adult properties in the current environment. Such is the assertion of developers that are immersing themselves more deeply in this fast-growing sector of commercial real estate, which lies somewhere in between traditional multifamily and independent living on the spectrum of residential uses and services provided. The challenges of fast and effective lease-up programs are attributable to several factors that are unique to the emerging asset class, …

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Active AdultFeaturesNews

Active Adult Residents Cite Location, Lifestyle as Reasons for Moving In

by Jeff Shaw

DALLAS — Active adult residents say they had plenty of reasons to move out of their prior homes, but they rank location and lifestyle change atop their list. That was the message from a panel of five existing active adult residents during a panel named “Live Interview of Active Adult Residents: What Motivated Them to Move in?” at France Media’s InterFace Active Adult Conference, held at the Dallas Marriott Downtown hotel in Dallas. This second annual event is the industry’s only in-person conference devoted entirely to the active adult/55+ niche. …

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