Assisted Living

Assisted LivingDevelopmentNew YorkNews

Sunrise Opens 19-Story The Apsley in Manhattan’s Upper West Side

by Jeff Shaw

NEW YORK CITY — Sunrise Senior Living, together with partners Hines and Welltower (NYSE: WELL), has opened The Apsley, a 19-story luxury seniors housing community in Manhattan’s upscale Upper West Side neighborhood. Located at 2330 Broadway between 84th and 85th streets, The Apsley is the second luxury senior living community in Manhattan by Sunrise, Hines and Welltower. Sunrise at East 56th celebrated its first anniversary on the Upper East Side in December 2022. SLCE Architects designed the exterior architecture of The Apsley, which rises 19 stories. The community features 80 …

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AcquisitionsAssisted LivingFinanceNewsTennessee

CBRE Arranges $32.2M Acquisition Financing for Two Vitality Communities in Metro Nashville

by Jeff Shaw

FRANKLIN and HENDERSONVILLE, Tenn. — CBRE has arranged $32.2 million in financing for the acquisition of Vitality Living Franklin and Vitality Living Hendersonville, both located in high-growth suburbs of Nashville. The borrowers were Winterpast Capital Partners (WCP), Scribner Capital and its institutional partner, and Broadview Real Estate Partners. Vitality Living, WCP’s wholly owned operating platform, will manage the communities under a traditional third-party agreement. The portfolio consists of 256 assisted living and memory care units. Aron Will, Tim Root and Michael Cregan of CBRE National Senior Housing, arranged the financing, …

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AcquisitionsAssisted LivingIllinoisNews

SLIB Brokers Sale of 73-Unit The Legacy & Evergreen Place in Chillicothe, Illinois

by Jeff Shaw

CHILLICOTHE, Ill. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Legacy & Evergreen Place, a 73-unit assisted living and memory care community in Chillicothe, located along Goose Lake approximately 140 miles southwest of Chicago. The asset was part of a larger portfolio of skilled nursing facilities. The seller of this building, which is buying the remaining portfolio, elected to carve out this asset because the company specializes in skilled nursing. The buyer is a Midwest-based owner that built the community in 2015 and was looking to …

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AcquisitionsActive AdultAffordable HousingAssisted LivingCCRCDevelopmentFeaturesFinanceIndependent LivingIndustry ContentInvestmentOperationsVideosWebinars

Webinar: Seniors Housing Success Stories — Companies that are Rising Above the Headwinds

by Sarah Daniels

  The June 29 webinar “Seniors Housing Success Stories — Companies that are Rising Above the Headwinds“ focused on what leading seniors housing firms are doing to alter their businesses, streamline operations, increase occupancy and strategize in terms of deal volume and investment. Industry difficulties, including labor shortages, inflation and interest rates, have highlighted the need for expertise and well-informed approaches to the seniors housing sector recovery. Click to watch this hour-long discussion that considers both operations and trends in transaction activity. See how strategies and outlooks have shifted since last …

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AcquisitionsAssisted LivingIowaNews

SLIB Negotiates Sale of 40-Unit Vintage Park in Lenox, Iowa

by Jeff Shaw

LENOX, Iowa — Senior Living Investment Brokerage (SLIB) has arranged the sale of Vintage Park, a 40-unit assisted living and memory care community in Lenox, 25 miles north of the state border with Missouri. The community totals 3,000 square feet on four acres of land. The seller is a local owner and operator looking to exit the seniors housing sector. The buyer is a joint venture between an East Coast investor and a growing Midwest operator. The price was not disclosed. This property is the second acquisition in the state …

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AcquisitionsAssisted LivingFinanceIdahoNews

Berkadia Arranges $7.8M in Acquisition Financing for Two Communities in Idaho

by Jeff Shaw

IDAHO — Berkadia has arranged $7.8 million in financing for the acquisition of two assisted living and memory care communities in Idaho. Jay Healy and Andrew Lanzaro of Berkadia Seniors Housing & Healthcare arranged the bridge-to-HUD loan to facilitate the acquisition. The buyer, seller, price and locations were not disclosed. The bridge loan is interest-only and carries a term of 18 months with a six-month extension option. The communities were built between 1996 and 1999 and contain an average Medicaid mix of 75 percent. Combined occupancy had declined slightly in …

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Assisted LivingDevelopmentNewsVirginia

Commonwealth Plans $2.4M Expansion at Community in Onancock, Virginia

by Jeff Shaw

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 …

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Assisted LivingDevelopmentFloridaNews

Quality Senior Living Starts Construction of $35M The Blake at St. Johns in Florida

by Jeff Shaw

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 …

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Assisted LivingDevelopmentMichiganNews

Commonwealth Senior Living Completes $6.5M Community Expansion in New Baltimore, Michigan

by Jeff Shaw

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.

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AcquisitionsAssisted LivingNewsTexas

ESI Arranges Sale of 63-Unit Sodalis at Stone Oak in San Antonio

by Jeff Shaw

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 …

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