JACKSONVILLE, Fla. — SRI Management, in conjunction with Jacksonville-based real estate developer Rimrock Cos., has opened The Canopy at Duval Station, a seniors housing community in Jacksonville. The property offers assisted living and memory care services. The number of units was not disclosed. The community’s executive director is Leslie Nostrant.
SUNRISE, Fla. — Capital Funding Group has provided a $27.2 million construction loan for the conversion of a partially completed hotel in South Florida to a 191-unit assisted living community. The property is located at 3003 N. University Drive in Sunrise, about 10 miles west of Fort Lauderdale. The borrower, YMP Real Estate Management, will use $7.4 million of the financing to complete the shell construction. YMP will also manage the seniors housing community when it opens. The construction timeline was not disclosed.
GEORGIA — Blueprint Healthcare Real Estate Advisors has negotiated the sale of three seniors housing communities in Georgia. Located in secondary markets throughout the state, the portfolio totals 156 units of assisted living and memory care. While at the time of sale the communities were not stabilized, the portfolio was well-positioned to capitalize on the strong demand for affordable senior care within their respective local markets, according to Blueprint. The buyer was a regional owner-operator that has been actively expanding within the Southeast. The seller and price were not disclosed.
NEWTON, Mass. — Benchmark Senior Living has planned a $13 million renovation project at Evans Park at Newton Corner in the Boston suburb of Newton. The project will modernize the 30-year-old assisted living and memory care community. It is scheduled for completion in early 2024. The project is also honoring the building’s history, which dates back to 1905, by adding external lighting to highlight unique architectural features. Built by famed developer Warren Evans, “The Evans,” as it was first known, was considered to be the most beautiful apartment complex in …
LIVINGSTON, N.J. — Sunrise Senior Living has opened the doors on Sunrise of Livingston in Livingston, approximately 20 miles west of Manhattan. The three-story property totals 86,000 square feet of space for assisted living and memory care. Although the number of units was not disclosed, Sunrise said the property can serve “more than 120 residents.” Lantz-Boggio Architects designed the property, which Wohlsen Construction Co. built.
HANOVER, N.H.; WINDHAM, N.H.; WOODSTOCK, Vt.; and WHITE RIVER JUNCTION, Vt. — Walker & Dunlop has provided a $46 million HUD 232/223(f) refinancing for four Terrace-branded seniors housing communities in New England. Walker & Dunlop’s Frank Cassidy led the team in refinancing a bridge loan that the Walker & Dunlop team previously arranged in December 2020 to facilitate a partner buyout and re-leverage the portfolio. The bridge loan was structured as eligible debt in anticipation of the HUD takeout. The portfolio refinancing comprised: Wheelock Terrace, a 70-unit assisted living facility …
SIMI VALLEY, Calif. — Bayview PACE has arranged $13 million in Commercial Property Assessed Clean Energy (C-PACE) financing for the Varenita of Simi Valley seniors housing community in the Ventura County city of Simi Valley. The Class A property which opened in February 2022, totaling 97,000 square feet of space with 102 units of assisted living and memory care. Its location in the heart of Griffin Plaza, an active shopping center, provides opportunities for residents to explore and socialize in nearby retail shops and restaurants. The C-PACE loan is being …
CARPINTERIA, Calif. — Blueprint Healthcare Real Estate Advisors has brokered the sale of GranVida Senior Living, a 70-unit assisted living and memory care community in the Central Coast city of Carpinteria. The community is situated in a high barrier-to-entry suburb between Santa Barbara and Ventura. The asset benefits from being the only seniors housing community within 10 miles. An institutional ownership group sold the asset to Blake Parsons, owner of RBP Communities, for an undisclosed price.
WISCONSIN — Evans Senior Investments (ESI) has brokered the sale of a 120-unit assisted living and memory care community in Wisconsin. National Health Investors (NHI) sold the property to Eden Senior Care. The name and location of the property, as well as the price, were not disclosed. At the time when the operator was brought in during 2019 by NHI, the community was experiencing a high usage of Medicaid waivers and the community was struggling overall. Over the past three years, the operator was able to transition the community to …
MILLVILLE, EGG HARBOR TOWNSHIP and HAMMONTON, N.J. — New Standard Senior Living has completed development of three Medicaid-focused assisted living communities in South Jersey. All three communities feature individual (single-occupant-only) studio apartment-style residences. The Millville community offers 154 units while the second, Egg Harbor Township location offers 166 units. The last of the initial three communities, located in Hammonton, is nearing its completion with 174 units this spring. The communities are the first of their kind in the state of New Jersey, according to New Standard, and are designated to …