ONANCOCK, Va. — Commonwealth Senior Living has started construction on an expansion of Commonwealth Senior Living at the Eastern Shore in Onancock, a small town near Chesapeake Bay on the Delmarva Peninsula. The $2.4 million project will add eight memory care apartments, convert spaces into eight assisted living apartments, and adding spaces for a new living room and lounge area. Construction is scheduled for completion in April 2024. Commonwealth Senior Living at the Eastern Shore currently features independent living, assisted living and memory care. Once construction is complete, the community …
ST. JOHNS, Fla. — Quality Senior Living (QSL) has started construction of The Blake at St. Johns, an assisted living and memory care community in St. Johns, a southern suburb of Jacksonville. The community, which QSL Management will operate, features 70 assisted living apartments and 48 memory care apartments. Development costs are estimated at $35 million. The two-story, 115,000-square-foot building is designed around two landscaped interior courtyards. Arrive Architecture Group designed the project. The Blake at St. Johns is part of a planned development that includes St. Thérése, an early-learning …
NEW BALTIMORE, Mich. — Commonwealth Senior Living has completed a $6.5 million expansion of its community in New Baltimore, located near Anchor Bay approximately 30 miles northeast of Detroit. The renovations to Commonwealth Senior Living at New Baltimore included a two-story addition, enlarged common areas and a capacity for 23 additional residents in memory care and 45 in assisted living.
SAN ANTONIO — Evans Senior Investments (ESI) has brokered the sale of Sodalis at Stone Oak, an assisted living and memory care community in San Antonio. The Class A property was constructed in 2017, featuring 42 assisted living and 21 memory care units. The community was 95 percent occupied and 100 percent private pay at the time of marketing. In January 2022, the operator implemented a 4 percent rate increase for all current residents and successfully implemented another lease renewal increase of 6 percent in January 2023. The buyer was …
SAN CLEMENTE, Calif. — Harbert South Bay Partners has broken ground on The Seville, an assisted living and memory care community in San Clemente, a coastal city approximately 60 miles southeast of Los Angeles. The property will feature 63 assisted living and 24 memory care units. Completion is scheduled for summer 2024. Project partners include Momentum Senior Living as operator, Banvard & Soderbergh as architect, Rodrigo Vargas Design as interior designer and W.E. O’Neil as general contractor.
ELMHURST, Ill. — Focus Healthcare Partners LLC, a Chicago-based real estate investment and asset management firm, has acquired Lexington Square Senior Living in Elmhurst, approximately 15 miles west of Chicago. BMO provided financing for the sale. The price and seller were not disclosed. Focus will rebrand the community as The Roosevelt at Salt Creek and convert it from an entrance-fee buy-in model to a rental community offering independent living and assisted living. Life Care Services will manage the community and help facilitate the transformation. Focus will implement a multi-year renovation …
STOW, Ohio — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Landing of Stow, a seniors housing community in Stow, approximately 27 miles southeast of Cleveland. The property was built in 2008 and offers 61 assisted living and 20 memory care units. The seller of the community chose to divest this asset to focus attention on communities that more closely align with its current footprint. The buyer is a Midwest-based owner-operator looking to strategically add to its existing footprint in Ohio. The price was not disclosed. Bradley …
LA GRANGE, WESTMONT, PROSPECT HEIGHTS and LAKE ZURICH, Ill. — Senior Lifestyle has acquired four communities in the Chicago metropolitan area: Aspired Living of La Grange Aspired Living of Westmont Aspired Living of Prospect Heights Azpira Place of Lake Zurich The communities offer assisted living, memory care and supportive living residences in the northern and southern suburbs of Chicago. Further details on the properties were not disclosed.
NASHVILLE, Tenn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Grace Manor, a 42-unit assisted living community in Nashville. A local church built Grace Manor in 2010. The property struggled with occupancy and profitability during the COVID-19 pandemic. As a result of the performance, the property was voluntarily closed in November of 2021. The seller (which purchased the HUD note at auction) is a private investment firm that manages alternative assets for high-net-worth individuals and institutional investors. The buyer and price were not disclosed. Patrick Burke and …
CARROLLTON, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 62-unit assisted living and memory care community in Carrollton, a suburb of Dallas. The community totals approximately 40,000 square feet on a 3.6-acres plot. The seller is a private equity group with a regional seniors housing portfolio. The Dallas-based buyer is a private investment group with a national seniors housing portfolio partnering with a local operator. The price was not disclosed. Matthew Alley and Jeff Binder of SLIB handled the transaction. “SLIB was able to help …