CAPE GIRARDEAU, Mo. — IMPACT Strategies has completed construction of Newbridge Retirement Community, a senior living facility in Cape Girardeau, located along the Mississippi River approximately midway between St. Louis and Memphis. The 75,000-square-foot luxury retirement community features 83 units of assisted living and memory care Project partners included Vessel Architecture, Bowen Engineering & Surveying and SSC Engineering.
CALIFORNIA — JCH Senior Housing Investment Brokerage has arranged the sale of a 25-Unit assisted living facility on the Central Coast of California. The seller was a longtime family owner. The licensee of the property passed away during the sale process, leading the buyer to choose an alternate use for the asset. All residents were relocated to other senior living properties as a result. Cindy Hazzard and Jennifer Contreras led the JCH team. Further details on the transaction were not disclosed.
SCOTTSDALE, Ariz. — Cogir Senior Living and Ryan Cos. US Inc. have opened ACOYA Shea, an independent living, assisted living and memory care community in the Phoenix suburb of Scottsdale. The community features 147 units in a four-story building. “ACOYA Shea is located right in the heart of Scottsdale, and residents will be able to enjoy the walkability of the community and the proximity to all that the area has to offer,” says Dave Eskenazy, chief executive officer of Cogir Management USA. Cogir Senior Living develops, owns and/or operates 60 …
MANASSAS, Va. — Commonwealth Senior Living has acquired UVA Health Caton Merchant House, a seniors housing community in the western D.C. suburb of Manassas. The purchase marks the buyer’s 28th community in Virginia, and it will be rebranded as Commonwealth Senior Living at Manassas. Commonwealth plans to implement a complete renovation which includes updating all of the apartments and public areas as well as the addition of a new memory care neighborhood. The community currently features only assisted living. Other amenities for the renovation include a new dining room; a …
WEST DUNDEE, Ill. — McShane Construction has completed The Woodlands at Canterfield, a 131-unit senior living development in West Dundee, approximately midway between Chicago and Rockford. Built for Westbrook at Canterfield, LLC, The Woodlands at Canterfield comprises 91 assisted living units and 40 memory care beds as well as 16,000 square feet of amenity space. Positioned on a nine-acre site, the one-, two- and three-story building features a fiber cement panel and stone veneer exterior. Units are offered in studio, one- and two-bedroom options AG Architecture is the architect and …
It has been more than three years since COVID-19 lockdowns wreaked havoc on skilled nursing, assisted living and memory care facilities. Among other consequences, falling admissions and occupancies required many operators to seek or extend short-term loans to survive until brighter days. The good news is that, to a certain extent, those days have arrived: Rebounding occupancies are inching closer to pre-pandemic levels, higher Medicaid reimbursements are flowing to net operating income, and labor costs are stabilizing, says Michael Gehl, chief investment officer for FHA lending for NewPoint Real Estate …
THOUSAND OAKS, Calif. — JLL Capital Markets has arranged $43.2 million in financing for Varenita of Westlake, an 86-unit assisted living and memory care community in Thousand Oaks, approximately 40 miles west of Los Angeles. JLL represented the borrower, Westlake Senior Living, Center LLC, to secure the five-year loan from a regional bank. The Class A community consists of 58 assisted living units and 28 memory care units across three stories with surface and underground parking. The community features a mix of predominantly one-bedroom units, with some studios and two-bedroom …
FAIRFAX, Va. — Silverstone Senior Living has named Ray Dennison as the new executive director at The Providence, a luxury assisted living and memory care community in Fairfax, approximately 15 miles west of Washington, D.C. Dennison will oversee the day-to-day operations, care and programming for the rental senior living community. Prior to joining The Providence, Dennison served as the executive director of various communities in the Washington, D.C. area, including Elance Luxury Living at West End in Alexandria and numerous Sunrise Senior Living properties. The Providence is one of three …
FLORENCE, S.C. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Florence Place, an assisted living and memory care community in Florence, approximately 80 miles east of Columbia. Originally constructed in 1999, the purpose-built seniors housing community featured 61 units in a prominent location within the submarket. Blueprint marketed the opportunity alongside 16 communities located throughout the Southeast, Midwest and Mid-Atlantic. The undisclosed seller decided to market the portfolio at the start of 2023, following the successful implementation of rate increases, which resulted in double-digit revenue growth over …
NORTH HAVEN, Conn. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of The Landing of North Haven, a 100-unit assisted living and memory care community in North Haven. Located near Long Island Sound south of Hartford, the community opened in late 2019 on an 11-acre campus. The seller is a national investor and developer. Inspired Healthcare Capital acquired the asset for an undisclosed price. Inspired plans to keep the existing operator. While lease-up progress was solid through COVID, rates and margin were always strong, leading to meaningful cash …
