Active Adult

Active AdultDevelopmentFloridaNews

United Group Starts Construction of $64.5M Active Adult Community in Sarasota, Florida

by Jeff Shaw

SARASOTA, Fla. — The United Group of Cos. has started vertical construction on The Alloro at University Groves, an active adult community in Sarasota. The community will feature 183 one- and two-bedroom apartments, including seven two-bedroom penthouse suites in two residential buildings above covered parking. Units will range from 708 square feet to 2,228 square feet. The property will also boast a 15,210 square foot clubhouse. Development costs are estimated at $64.5 million. Project partners include Current Builders and Trez Capital. Adam Horowitz of Cooper Horowitz LLC out of New …

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Active AdultAffordable HousingAssisted LivingIndependent LivingIndustry ContentMemory CareOperationsPeopleSkilled NursingTechnologyVideosWebinars

Webinar: Rethinking Seniors Housing Resident Engagement — Technology that Improves Staff Efficiencies while Enhancing the Resident Experience

by Sarah Daniels

  The Nov. 3 Seniors Housing Business webinar “Rethinking Seniors Housing Resident Engagement — Technology that Improves Staff Efficiencies while Enhancing the Resident Experience” focused on the best ways to improve resident engagement, streamline care and support staff. Panelists discussed Platforms across the continuum of care Resident engagement solutions for streamlining technology, training and staff time The future of remote engagement: video chats, digital signage, health and fitness and beyond Changes in care created by the COVID pandemic: lessons learned, paths forward, maximizing technology, the role of staff and resource shortages Innovative care ideas in telehealth, remote monitoring, …

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Active AdultFeaturesNews

Active Adult Communities Thrived During Height of Pandemic, Say NIC Panelists

by Jeff Shaw

HOUSTON — Although the seniors housing industry as a whole suffered big setbacks throughout the COVID-19 pandemic, hitting record-low occupancy rates across the board, one sub-segment was an exception to the rule. “During COVID there were clear winners and losers in commercial real estate,” said Aron Will, vice chairman of debt and structured finance at CBRE, where he is also co-head of CBRE Senior Housing. “Industrial, life sciences, medical office and multifamily were very clear winners. But one asset class that’s been overlooked is active adult, as it was also …

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AcquisitionsActive AdultNewsTennessee

SLIB Brokers Sale of 150-Unit Tranquility at Hickory Hill Active Adult Community in Memphis

by Jeff Shaw

MEMPHIS, Tenn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Tranquility at Hickory Hill, a 150-unit active adult community in Memphis. The property offers the opportunity to rebuild 10 units that were previously damaged by fire. The community was originally built in 1985, totaling 161,990 square feet on a 13-acre plot. A regional owner sold the asset to a Southern California-based multifamily group looking to increase its footprint in active adult. The price was not disclosed. Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the …

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Active AdultAssisted LivingIndependent LivingIndustry ContentLegal IssuesMemory CareOperationsPeopleSkilled NursingVideosWebinars

Webinar: COVID Strategies for Seniors Housing Operators — Managing Risk

by Sarah Daniels

  In the Oct. 26 Seniors Housing Business webinar entitled “COVID Strategies for Seniors Housing Operators — Managing Risk for Residents, Staff and Service Providers,” the topic of discussion was how best to keep residents and staff safe from COVID-19. Panelists shared differing approaches to this difficult problem, as well as their decision-making processes for setting vaccination requirements within their communities, employee incentives, communication strategies and how to implement these best practices in the midst of staffing shortages. Listen to hear how these decisions impact seniors housing operations, human resources and marketing approaches, …

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Active AdultColoradoDevelopmentFinanceNews

Edison Equity Receives $23M Construction Loan for 55 Resort Apartments in Greeley, Colorado

by Jeff Shaw

GREELEY, Colo. — Dallas-based Edison Equity Management has received $23 million in construction financing for the development of 55 Resort Apartments, an age-restricted multifamily property located in Greeley. Located on the former site of the Garnsey & Wheeler Ford dealership, 55 Resort Apartments will feature 84 apartments for adults age 55 and above. The property will offer exercise classes, service coordination and social activities, as well as 5,000 square feet of retail space leased to Austin’s American Grill restaurant. The development is slated to open in summer 2022. Dallas-based Hall …

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Active AdultDevelopmentGeorgiaNews

Greystar Completes 180-Unit Everleigh Duluth Active Adult Community in Georgia

by Jeff Shaw

DULUTH, Ga. — Greystar has opened Everleigh Duluth, a 180-unit active adult community in Duluth, a northeastern suburb of Atlanta. “The community is near the historic downtown, Duluth Town Green and the Chattahoochee River National Park, which offers some of the best hiking in Georgia, all just 30 minutes away from Atlanta,” says Malcolm Bemba-Kaye, regional property manager. The community features one-bedroom, two-bedroom and town flat floorplans. Everleigh Duluth has developed partnerships with Sugar Loaf Golf Course to host planned golf events and local spa services in Duluth Town Green.

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Active AdultCaliforniaDevelopmentFinanceNews

CBRE Arranges $42M Construction Financing for LGBTQ-Focused Community in Palm Springs, California

by Jeff Shaw

PALM SPRINGS, Calif. — CBRE Senior Housing has arranged $42 million in construction financing for Living Out Palm Springs, a luxury active adult community that will cater primarily to LGBTQ residents. Aron Will, Austin Sacco and Tim Root of CBRE Senior Housing arranged the financing on behalf of a joint venture between KOAR International Inc. and a group of high-net-worth investors. The loan is a non-recourse, four-year loan with full-term interest-only payments and an extension option. A national bank provided the funds. The nine-acre site is located at the northwest …

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Active AdultDevelopmentIndianaNews

Kittle Property Group Completes $36.2M Reserve at White River Active Adult Community in Indianapolis

by Jeff Shaw

INDIANAPOLIS — Kittle Property Group Inc. has opened the doors at Reserve at White River, an active adult community in Indianapolis. The $36.2 million development features 210 units that include one-bedroom/one-bathroom homes and two-bedroom apartments with either one or two bathrooms. Units range from 794 to 1,040 square feet. Residents will enjoy close proximity to downtown Indianapolis, as the property sits four miles from the center of the city. It is located on IndyGo’s No. 37 line, which connects to the Julia Carson Transit Center downtown. It is also located …

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AcquisitionsActive AdultMinnesotaNews

JLL Arranges $27.3M Sale of Active Adult Community Near Minneapolis

by Jeff Shaw

MAPLEWOOD, Minn. — JLL Capital Markets has arranged the $27.3 million sale of Frost English Silver, a newly built, luxury apartment community for residents age 55 and older in Maplewood, a suburb of Minneapolis. The property’s 107 units average 876 square feet each. Josh Talberg, Mox Gunderson, Dan Linnell, Adam Haydon and Ken Dayton of JLL represented the seller, Sherman Associates. Jeff Lepley of JLL arranged acquisition financing on behalf of the buyer, an affiliate of Axial Real Estate Advisors LLC. JLL is providing the seven-year, fixed-rate Fannie Mae loan.

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