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Active AdultDevelopmentIllinoisNews

TWG to Develop $62.4M Active Adult Community in Naperville, Illinois

by Jeff Shaw

NAPERVILLE, Ill. — TWG has unveiled plans to develop McDowell Point, a $62.4 million active adult community in the Chicago suburb of Naperville. The project is Indianapolis-based TWG’s first development in the greater Chicago area as well as its first active adult community in the state of Illinois. The property will rise five stories and span 347,000 square feet. The 174 units will range in size from one-bedrooms to three-bedrooms. Of the total units, 80 percent will be reserved for residents age 55 and older. More than 6,000 square feet …

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Active AdultDevelopmentGeorgiaNews

Capitol Seniors Housing Breaks Ground on 180-Unit Outlook at Exchange in Buford, Georgia

by Jeff Shaw

BUFORD, Ga. — Capitol Seniors Housing has broken ground on The Outlook at the Exchange, an active adult community for residents ages 55 and older in Buford. The 200,000-square-foot, four-story community will offer 180 residential units. The Outlook at the Exchange will be part of Fuqua Development’s Exchange at Gwinnett, a $350 million mixed-use development underway near the Mall of Georgia. The 106-acre development will include 460,000 square feet of retail, restaurants, entertainment and about 1,000 units of apartments, townhomes and senior housing for about 3,000 residents. Situated close to …

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Active AdultDevelopmentGeorgiaNews

Capitol Seniors Housing Breaks Ground on 180-Unit Outlook at Exchange in Buford, Georgia

by Jeff Shaw

BUFORD, Ga. — Capitol Seniors Housing has broken ground on The Outlook at the Exchange, an active adult community for residents ages 55 and older in Buford. The 200,000-square-foot, four-story community will offer 180 residential units. The Outlook at the Exchange seniors housing community will be part of Fuqua Development’s Exchange at Gwinnett, a $350 million mixed-use development underway near the Mall of Georgia. The 106-acre development will include 460,000 square feet of retail, restaurants, entertainment and about 1,000 units of apartments, townhomes and seniors housing for about 3,000 residents. …

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AcquisitionsActive AdultNewsTexas

Livingston Street Capital Acquires 180-Unit Active Adult Property in Lewisville, Texas

by Jeff Shaw

LEWISVILLE, Texas — An affiliate of Livingston Street Capital, a boutique private equity firm focused on commercial real estate investments throughout the U.S., has acquired a 180-unit active adult apartment community in the Dallas-Fort Worth submarket of Lewisville. The seller was not disclosed. The property, which the firm has rebranded as Haven at Lewisville Lake, is the first Texas addition to Livingston’s geographically diverse active adult and independent living portfolio. The acquisition brings the firm’s total unit count in the sector to nearly 1,000 units. “The acquisition of Haven at Lewisville …

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AcquisitionsActive AdultNewsWisconsin

SLIB Arranges $10.6M Sale of Olympic Village Active Adult Community in Sun Prairie, Wisconsin

by Jeff Shaw

SUN PRAIRIE, Wis. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Olympic Village, a 69-unit active adult community in the Madison suburb of Sun Prairie. SLIB represented the court-appointed receiver in the transaction. The residents of the community formed a new nonprofit organization to acquire the asset for $10.6 million. The campus sits on approximately 12.4 acres with units randing in size from 1,300 to 1,900 square feet. Occupancy was 99 percent at the time of sale. In addition to negotiating the transaction, SLIB also helped source …

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Active AdultDevelopmentNewsOklahoma

Gardner Capital Completes Construction of Tennyson Manor in Enid, Oklahoma

by Jeff Shaw

ENID, Okla. — Gardner Capital has completed construction on Tennyson Manor in Enid, approximately 80 miles north of Oklahoma City. The development offers one- and two-bedroom apartment homes specifically built for seniors and will offer modern conveniences such as electric vehicle charging stations. The development was made possible through multiple financial and other partners, including Red Stone Equity Partners and Legacy Bank & Trust Co. Seldin Companies is the on-site property manager at Tennyson Manor and is current accepting applications.

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Active AdultDevelopmentNewsTexas

Sparrow Partners, Welltower Break Ground on 188-Unit Active Adult Community in Metro Austin

by Jeff Shaw

GEORGETOWN, Texas — Austin-based developer Sparrow Partners and Ohio-based REIT Welltower (NYSE: WELL) have broken ground on Amberlin Georgetown, a 188-unit active adult community in Georgetown, a northern suburb of Austin. The property will feature one- and two-bedroom units ranging in size from 615 to 1,285 square feet and equipped with private terraces or fenced-in backyards. Amenities will include bocce and pickleball courts, a resort-style pool and sundeck, a fenced-in dog park, fitness center, game lounge, media lounge, community garden, library and a coffee bar. Each unit will rent for …

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Active AdultDevelopmentMarylandNews

Pennrose Begins Leasing at Residences at Glenarden Hills II Active Adult Community in Maryland

by Jeff Shaw

GLENARDEN, Md.— Pennrose has started leasing at Residences at Glenarden Hills II, the second of the six-phase Glenarden Hills master-planned community. The community is available to seniors age 55 and older, expanded from the previous 62-plus eligibility. The community features one- and two-bedroom apartments available for $1,299 to $1,617 per month. The number of units was not disclosed. Once complete, the 27-acre Glenarden Hills master-planned community will include seniors and family affordable apartments, market-rate and affordable rental townhomes, and for-sale townhomes.

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Active AdultDevelopmentNew JerseyNews

Larken Associates Opens 198-Unit Autumn Ridge Multigenerational Community in New Jersey

by Jeff Shaw

LOPATCONG, N.J. — Larken Associates has completed construction of Autumn Ridge, a 198-unit multigenerational community in Lopatcong, located along the Pennsylvania border from Allentown. The 10-building community features 148 garden- and garage-style multifamily units alongside Horizons at Autumn Ridge, an age-restricted building with 50 units reserved for the active adult community. Construction began in 2019, and the project is Larken Associates’ largest to date. The community was 100 percent occupied upon opening. “Our multifamily development philosophy is based on a recognition that today’s apartment residents increasingly represent a broad cross-generational …

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Active AdultDevelopmentFinanceIllinoisNews

CBRE Arranges $43M Construction Loan for Active Adult Community in Chicago

by Jeff Shaw

CHICAGO — CBRE has arranged $43 million in financing for the construction of a Class A active adult community in Chicago. Aron Will, Austin Sacco and Matthew Kuronen of CBRE Senior Housing partnered with CBRE Chicago’s Debt and Structured Finance professionals John Parrett and Peter Marino to arrange the financing. The five-year loan features 42 months of interest-only payments. A national bank provided the funds. Further details on the property and borrower were not disclosed.

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