Establishing trust is an ongoing challenge for many seniors housing communities, with operators continually working to draw in new residents while simultaneously recruiting staff in an industry plagued by high turnover and labor gaps. In both efforts, evidence of the owner’s commitment to safety infrastructure can be a deciding factor that brings people in for the long term, according to Clarisa James, national vertical sales director at Kings III Emergency Communications. “Families want reassurance that loved ones are safe, not only in their living areas but throughout the community,” James …
Assisted Living
SAN DIEGO — Azure Partners has acquired Cypress Court, a senior living community located in San Diego. Totaling 148 units, the property features 76 independent living and 72 assisted living residences. Kisco Senior Living sold the community for an undisclosed price. JLL Capital Markets brokered the transaction on behalf of the seller. JLL also secured a 10-year acquisition loan through Freddie Mac on behalf of Azure. “Azure is very excited about the acquisition of Cypress Court as our entrance into seniors housing, and we aim to rapidly expand our portfolio in …
WOODLAND HILLS, Calif. — CCI has announced plans for the development of a 236-unit luxury senior living community in Woodland Hills, roughly 25 miles northwest of Los Angeles. Upon completion, Livelle Mulholland will feature 200 independent living units, seven villas, 16 assisted living apartments and 13 memory care units. LCS will manage the community. Amenities at the property will include a wellness center with therapy pools, nature trails and outdoor game courts, underground and attached garage parking, a restaurant, wine bar and rooftop lounge, indoor and outdoor theaters and classrooms. Construction …
BLOOMINGTON, Minn. — Verdot Capital has sold Hayden Grove Bloomington, a 166-unit seniors housing community located in Bloomington, a suburb of Minneapolis. An undisclosed buyer acquired the property. JLL Capital Markets brokered the transaction on behalf of the seller. Constructed in 2021, Hayden Grove Bloomington features a four-story building with a full continuum of care. Amenities at the community include underground parking, a private dining room, bistro, coffee lounge, game room, party room, theater, event center, library, craft room, fitness program, beauty salon and community rooms. The operator, Great Lakes Management, …
NORTH OGDEN, Utah — Blueprint has brokered the sale of The Lodge at North Ogden, a 122-unit senior living property located in North Ogden, roughly 50 miles north of Salt Lake City. Opened in 2019, the community features independent living, assisted living and memory care residences. An undisclosed, non-traded REIT partnered with a regional operator and acquired the property for an undisclosed price. Amy Sitzman and Giancarlo Riso of Blueprint arranged the transaction on behalf of the seller.
ST. JOHN’S, Fla. — Protea Capital Partners has received a $34.5 million loan for the construction of a new seniors housing community in St. John’s. Olga Walsh, Aaron Rosenzweig and Dan Baker of JLL Capital Markets arranged the five-year financing on behalf of Protea. Situated within the Beachwalk master-planned community, HarborChase of Beachwalk will feature 172 units, with 82 independent living, 66 assisted living and 24 memory care residences across multiple buildings. Amenities at the property will include a bar, bistro, beauty salon, arts and crafts room, theater, billiards room, fitness …
SAN DIEGO and LOS ANGELES — Berkadia has arranged the sale and financing of two senior living communities located in Southern California. Situated within suburbs of San Diego and Los Angeles, respectively, the properties include an 84-unit assisted living community and a 72-unit memory care community. Together, the communities were roughly 90 percent occupied at the time of financing. Mike Garbers, Cody Tremper, Ross Sanders and Dave Fasano of Berkadia brokered the sale on behalf of the seller, a private owner. Ed Williams and Steve Muth of Berkadia secured acquisition financing …
ROSELAND, N.J. — A joint venture between Benchmark Senior Living and National Development has acquired Arbor Terrace Roseland, an 85-unit assisted living and memory care community located in Roseland. Benchmark will operate the facility, which has been rebranded as Benchmark at Roseland. Synovus Bank provided financing for the acquisition. Amenities at the property, which totals 68,000 square feet, include a café, movie theater, hair salon, fitness center, library, private dining room and recreation room. Benchmark is also currently underway on two projects in New Jersey in partnership with National Development — Benchmark …
RICHARDSON, Texas — Berkadia has arranged the sale and financing of Appletree Court, a 118-unit senior living property located in Richardson, roughly 15 miles north of downtown Dallas. The community features assisted living and memory care units. A joint venture between Marquee Capital and Winterpast Capital Partners was the seller. The buyer was a joint venture between Virtus Real Estate Capital and Winterpast. Vitality Senior Living will continue to operate the property. Ross Sanders, Dave Fasano, Cody Tremper and Mike Garbers of Berkadia represented the seller in the transaction. Austin Sacco, …
BARDSTOWN AND ELIZABETHTOWN, Ky. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a portfolio consisting of two central Kentucky properties to an undisclosed West Coast-based buyer. The communities, which are located about 30 miles apart from each other in Bardstown and Elizabethtown, respectively, both offer assisted living and memory care services. The undisclosed seller was a Southeast-based owner and operator that was seeking to exit the Kentucky market in order to concentrate on its core geographic areas. In conjunction with the sale, the buyer has brought in …