JEFFERSON and NORCROSS, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two assisted living and memory care communities in Georgia. The two communities are located approximately 50 miles from each other in Jefferson and Norcross, both northeast of Atlanta. Bradley Clousing and Daniel Geraghty led the transaction for SLIB. The buyer, seller, price and names of the communities were not disclosed.
WHITE BEAR LAKE, Minn. — Coventry Holdings of Minnesota has opened its 18th Suite Living Senior Care community, located in a northeastern suburb of Minneapolis. The floor plan for each Suite Living community is identical, offering a 21,500-square-foot, single story residence that provides 32 single-occupant care suites serving both assisted living and memory care needs. All Suite Living Senior Care communities are owned by Coventry and professionally managed by Suite Living Senior Care Inc, a wholly owned division of Coventry. All Suite Living communities are located in highly visible suburban …
FAIR LAWN, N.J. — Chelsea Senior Living has opened The Chelsea at Fair Lawn, a seniors housing community in Fair Lawn, approximately 15 miles northwest of Manhattan. The property features 67 assisted living and memory care units. The three-story community is located directly across from Chelsea’s independent living community, which opened in March of this year and features 26 units. Trammell Crow Company (TCC), a global real estate developer, developed the property and IMC Construction served as the general contractor. In addition to the Fair Lawn locations, Chelsea is slated …
WOODBURY, N.Y. — Live Oak Bank has provided a $27.2 million refinancing for an 89-unit assisted living and memory care community in Woodbury. Located in the Hudson Valley, Benchmark Senior Living operates the stabilized community. Benchmark and its joint venture partner, Iron Point Partners LLC, developed the building. Although the name of the community was not disclosed, Orchard Estate of Woodbury is the only Benchmark-operated property in the town.
FAIRFAX, Va. — The Virginian, an independently operated continuing care retirement community in Fairfax, has opened the second phase of the community as part of a $67 million renovation. The renovated seven-story, 367,000-square-foot buildings will feature four wings, comprising 155 independent living apartments, 56 assisted living residences and 36 memory care units, along with 81 skilled nursing beds. Nestled on over 32 wooded acres along the Accotink Creek of the Potomac River, The Virginian stands out as one of the few senior living communities in the area.
ANDERSON, Ind. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Vermillion Place in Anderson, approximately 30 miles northeast of Indianapolis. The community comprises 45 units of assisted living care on about two acres. This particular asset was family owned and it proved difficult to successfully run a smaller, single-site operation, according to SLIB. The owner made the decision to sell and was encouraged by its lender to divest. The buyer is a private owner that previously provided the owners with operating, clinical and environmental consulting services for …
VIRGINIA — Blueprint Healthcare Real Estate Advisors has arranged the sale of two assisted living and memory care communities in Central Virginia. The properties located approximately 75 miles apart from each other and total 128 total units. One is located in a densely populated, affluent market, and the other in a more tertiary submarket. The buyer, seller and price were not disclosed, nor were further details on the properties.The Blueprint team included Kory Buzin, Steve Thomes, Amy Sitzman and Giancarlo Riso.
MONTEBELLO, N.Y. — Owner/developer FilBen Group, equity partner RSF Partners, general contractor McAlpine Contracting and designer H2M Architects + Engineers have completed the structural system and building enclosure, or “envelope,” for Braemar at Montebello. Upon completion in 2024, the property will be a four-level, 133,675-square foot luxury assisted living residence on 6.2 acres in the Lower Hudson Valley village of Montebello. The parcel is adjacent to a larger site that includes the Montebello Commercial Center, which will offer Braemar’s residents access to retail, entertainment, dining, and medical services. The property …
PFLUGERVILLE, Texas — Cambridge Realty Capital has provided a $2.1 million first mortgage loan to refinance Wells Point Lodge in Pflugerville, a suburb of Austin. Wells Point Lodge is a 60-bed assisted living community. Anthony Marino of Cambridge reports that the fully amortizing, 35-year loan was provided for the owner, a Texas limited liability company, using the HUD Section 232/223(f) mortgage insurance program. Cambridge’s early rate lock program was utilized, which allowed the owner to avoid the recent run-up in interest rates.
BRENTWOOD, Tenn. — Blueprint Healthcare Real Estate Trust has arranged the sale of an assisted living and memory care community in Brentwood, a suburb of Nashville. The buyer plans to convert the property to residential mental health center, and has already executed a long-term lease with a tenant. Further details on the buyer, seller and price were not disclosed. Andrew Sfreddo, Kyle Hallion, Shane Harmon and Gunnar Raney led the Blueprint team.
