Tuesday, March 4, 2025
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Active AdultCaliforniaDevelopmentFinanceNews

JLL Capital Markets Arranges $51.1M in Construction Financing for Active Adult Project in Danville, California

by Jeff Shaw

DANVILLE, Calif. — JLL Capital Markets has arranged $51.1 million in construction financing for a 50-unit active adult condominium development in Danville, located in the San Ramon Valley east of the Bay Area. Matt Cimino and Jordan Angel of JLL represented the borrowers, Jeff Stone of Diamond Construction and three high-net-worth individuals, in securing the financing from a Southern California-based lender. Located at 375 W. El Pintado, the development will feature 13 one-bedroom, 29 two-bedroom and eight three-bedroom condominium-style units. Community amenities include a lounge, game area, library, rooftop terrace …

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Active AdultColoradoDevelopmentNews

Headwaters Group Breaks Ground on 172-Unit Aspendale Centennial Active Adult Community in Colorado

by Jeff Shaw

CENTENNIAL, Colo. — Headwaters Group has broken ground on Aspendale Centennial, an active adult community in Centennial, a southern suburb of Denver.  The property will feature 172 units in a four-story, 203,653-square-foot building. Live Oak Bank provided construction financing, and a programmatic institutional equity partner provided equity.  “This is a meaningful project, as it will be our first ground-up development since Headwaters Group’s inception in 2022,” says Ben Burke, managing partner at Headwaters Group. The focal point of the community will be a two-story clubhouse, featuring 9,757 square feet of …

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Active AdultDevelopmentFloridaNews

United Group Completes $62.5M The Alloro at University Groves in Sarasota, Florida

by Jeff Shaw

SARASOTA, Fla. — The United Group of Cos. has completed The Alloro at University Groves, a seniors housing community in Sarasota. The property offers 183 units of “independent living lite,” which the developer describes as a blend of active adult and independent living service levels. Development costs were estimated at $62.5 million. The Alloro at University Groves spans 10 acres of land and features one-bedroom, two-bedroom and penthouse units across its two three-story buildings. In between the two buildings is a 15,000-square-foot clubhouse.

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AcquisitionsActive AdultNew YorkNews

CBRE Negotiates Sale of 225-Unit Active Adult Property in Mount Sinai, New York

by Jeff Shaw

MOUNT SINAI, N.Y. — CBRE has negotiated the sale of Sutton Landing at Mount Sinai, a 225-unit active adult property located in the Long Island community of Mount Sinai.  Built in 2021 by Long Island-based B2K Development, Sutton Landing at Mount Sinai features apartments and single-family rentals for residents age 55 and over. Amenities include a pool, pickleball courts, putting greens, fitness center with yoga and Pilates studios, massage room, game room, a lounge area with a sports bar, catering kitchen and outdoor grilling and dining stations.  Aron Will, John …

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Active AdultDevelopmentMassachusettsNews

United Group Receives $35M Construction Financing for The Arbella at Bramble Hill in Worcester, Massachusetts 

by Jeff Shaw

WORCESTER, Mass. — The United Group of Cos. Inc. has received $35 million in construction financing for The Arbella at Bramble Hill, an active adult development in Worcester. The Washington Trust Co. provided the capital with the assistance of JLL Capital.  The Arbella will span 17 acres and offer 123 one- and two-bedroom apartments across three elevator-serviced buildings. The community will also feature an 8,5000-square-foot clubhouse. United Group plans to complete construction by the beginning of 2025. Project partners include Marchionda & Associates, Syvertsen Rigosu Architects and Campanelli Associates Construction …

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AcquisitionsActive AdultNew YorkNews

CBRE Brokers Sale of 200-Unit Active Adult Complex on Long Island

by Jeff Shaw

DEER PARK, N.Y. — CBRE has brokered the sale of Sutton Landing at Deer Park, a 200-unit active adult complex on Long Island.  The age-restricted property was built in 2021.  Aron Will, John Sweeny and Scott Bray of CBRE represented the seller, a partnership between local developer B2K Development and Chicago-based investment firm Harrison Street. Shawn Rosenthal, Jason Gaccione, Jake Salkovitz, Aron Will, Matthew Kuronen and Michael Cregan of CBRE originated Freddie Mac acquisition financing on behalf of the buyer, Fairfield Properties.

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Seniors Housing Construction Trends
Active AdultAffordable HousingContent PartnersDevelopmentFeaturesFinanceIndustry ContentInvestmentOperations

What’s to Come: An Optimistic Outlook for Seniors Housing

by Sarah Daniels

By Berkadia Seniors Housing & Healthcare Like many sectors within the commercial real estate (CRE) industry, the seniors housing market faced headwinds over the past year, largely due to tightening financing conditions and widespread economic uncertainty. However, based upon research and anecdotal evidence from the clients and companies we serve in the seniors housing space, we believe the sector is well positioned to bounce back and generate positive operating results for the remainder of 2023 and into 2024. View a higher resolution version of the construction trends graph above here. Fundamentals …

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Active AdultDevelopmentMassachusettsNews

NEI General Contracting Completes 72-Unit Maple on Franklin in Holbrook, Massachusetts

by Jeff Shaw

HOLBROOK, Mass. — NEI General Contracting has completed construction of Maple on Franklin in Holbrook, approximately 15 miles south of Boston. NeighborWorks Housing Solutions is developer of the $18.5 million project. The 67,000-square-foot, four-story apartment building features 72 one-bedroom units for residents 62 and older. The four-acre site is within the town center and walking distance to a number of town services and a block away from the town’s senior center. NEI demolished two aging buildings on the site before beginning construction. Designed by The Narrow Gate, more than 500 …

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AcquisitionsActive AdultNewsNorth Carolina

Berkadia Negotiates Sale of Active Adult Community in Charlotte, North Carolina

by Jeff Shaw

CHARLOTTE, N.C. — Berkadia has arranged the sale of an active adult community in Charlotte.  David Fasano, Ross Sanders, Cody Tremper, and Mike Garbers of Berkadia Seniors Housing & Healthcare led the transaction on behalf of the seller, Evergreen Residential. The property opened in fall 2020 and displayed an impressive lease-up velocity. The property is located in one of Charlotte’s exclusive master-planned communities. The local area offers an array of shopping, fitness and entertainment opportunities and boasts high median household incomes and housing values. The buyer, price and name of …

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Active AdultDevelopmentNewsTexas

Caldwell Communities Opens Cadence Creek at Towne Lake in Cypress, Texas

by Jeff Shaw

CYPRESS, Texas — Caldwell Communities has opened Cadence Creek at Towne Lake, an active adult community in Cypress, a suburb of Houston. The community features one- and two-bedroom apartments and cottages ranging from 760 to 1,230 square feet. The number of units was not disclosed. Caldwell opened its first community in nearby Spring at the end of 2022.

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