RADNOR, Pa. — Livingston Street Capital, a boutique private equity firm focused on commercial real estate investments, has expanded its leadership team to coincide with the firm’s actively growing focus on active adult and independent living assets nationally. The Randor-based firm, which currently owns nearly 1,000 active adult and independent living units in addition to its core and core-plus industrial and office holdings, has appointed Brian Krill as chief financial officer and senior housing industry veteran Shawn Rose as managing director of asset management. “As we strategically expand our holdings …
ANDOVER, Minn. — JLL Capital Markets has arranged the sale of The Estates at Arbor Oaks, an active adult community in Andover, a northern suburb of Minneapolis. Estates of Arbor Oaks LLC sold the property to PC Arbor Oaks for $18.8 million. The Estates at Arbor Oaks sits on 12.5 acres and features 66 one-, two- and three-bedroom units. It was 95.5 percent occupied at the time of sale. The JLL Capital Markets team representing the seller was led by Dan Linnell, Mox Gunderson, Josh Talberg and Adam Haydon. The …
EUREKA, Mo. — St. Andrew’s Resources for Seniors System has broken ground on Summerville of St. Andrew’s, an active adult community in Eureka, approximately 30 miles southwest of St. Louis. The $23 million development is situated adjacent to its sister community, St. Andrew’s at Francis Place. The neighborhood-style development will feature 96 one- and two-bedroom units spread across 24 fourplex cottages. The “pocket neighborhoods,” each built around a central common space, will have front porches and walking paths that connect households. A neighborhood clubhouse and bar will offer communal dining …
HENDERSONVILLE, Tenn. — Avenida Partners has selected McShane Construction Co. to build Avenida Hendersonville, a 138-unit active adult community in the Nashville suburb of Hendersonville. The three-story building will be positioned on a five-acre site. The community will offer 6,000 square feet of amenities. Completion of Avenida Hendersonville is slated for May 2022. This will be Avenida’s third active adult community in Tennessee. The architect of record is Poole & Poole Architecture.
FRISCO, Texas — Presidium, a real estate investment and management firm, has completed construction of Presidium at Edgestone, a luxury active adult community in Frisco, a suburb of Dallas. The 165,398-square-foot property features 188 units on 18 acres near a variety of commercial and retail developments, as well as 10 golf courses, several walking trails and the upcoming, 275-acre Grand Park. Frisco was recently recognized as having a higher growth rate than any other U.S. city in the past decade by the U.S. Census Bureau. Designed by Cross Architects and …
The pandemic has turned some technologies from optional amenities into operational necessities. By Jonathan Gould, K4Connect COVID has brought countless industries to a halt and caused companies to rethink how they continue to meet the needs of their customers while surviving the ongoing impacts of this pandemic. We’ve seen in-person meetings shift to virtual platforms, small businesses implement new e-commerce options, and restaurants add curbside delivery and pickup services for restaurants. Innovation is taking on new, promising forms that serve the customer where they are. This innovation wave is also …
HAUPPAUGE, N.Y. — CBRE has arranged the sale of of The Cornerstone Hauppauge, a 98-unit active adult community in the Long Island hamlet of Hauppauge. The property opened in 2019. Terwilliger & Bartone Properties sold the asset to a joint venture between two institutional partners with experience in the active adult sector. The price was not disclosed. The CBRE team of Jeffrey Dunne, Gene Pride, Travis Langer and Zach McHale, along with Aron Will and Austin Sacco of CBRE’s Senior Housing Group, represented the seller. “The sale of The Cornerstone …
ELLICOTT CITY, Md. — An affiliate of Livingston Street Capital, a private equity firm, has acquired Alta at Regency Crest, a 150-unit active adult multifamily community in the greater Baltimore submarket of Ellicott City. Situated near healthcare, retail and transportation, Alta at Regency Crest rises four stories and offers one-, two- and three-bedroom floor plans. Livingston Street Capital’s affiliate acquired the asset from a private multifamily developer. The price was not disclosed. This acquisition comes on the heels of three recent active adult living property acquisitions by Livingston affiliates, including …
NEW BRAUNFELS, Texas — A joint venture between Imprint Property Group (IPG) and Batson-Cook Development Co. (BCDC) has broken ground on Larkspur at Creekside, an active adult community in the San Antonio suburb of New Braunfels. The 184-unit project marks the first partnership between boutique developer IPG and BCDC, an Atlanta-based subsidiary of Japanese construction company Kajima Corp. The nine-acre development will be an anchor of the master-planned New Braunfels Town Centre, a 400-acre community located 32 miles northeast of San Antonio and 48 miles southwest of Austin. Larkspur at …
WEST WARWICK, R.I. — LeCesse Development Corp. has broken ground on a 118-unit active adult community in West Warwick, a suburb of Providence. Named Matteson Ridge, the units will comprise a series of single-family-style homes for rent to residents over the age of 55. Phase I homes will be available for lease in early 2021, with more homes available late spring 2021. Phase I of Matteson Ridge is already underway and will total 33 units, including 15 single-level duplexes and one triplex. The second phase of the project will include …