LINCOLNSHIRE, Ill. — Cambridge Realty Capital Cos. has provided an $11.3 million HUD-insured loan for The Ponds of Wealshire, a 116-unit assisted living facility in the Chicago suburb of Lincolnshire. “The loan was underwritten by Cambridge Realty Capital Ltd. of Illinois, our specialists in FHA-insured HUD loans,” says Jeffrey Davis, Cambridge chairman. The facility provides rehabilitation services, respite care and progressive memory care. The loan refinancing existing debt.
PORT CHARLOTTE, Fla. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Parkside Assisted Living and Memory Cottage, a 65-unit, 94-bed seniors housing community in Port Charlotte. The community was developed by a local neurologist and managed by his family upon his death in early 2017. Opening in October 2017, Parkside Assisted Living and Memory Cottage reached 62 perent occupancy prior to the pandemic. Occupancy decreased through 2020 and reached its low at the end of 2021. The building has three floors with …
CENTRALIA, Wash. — MedCore Partners has sold Cooks Hill Manor, a 72-unit assisted living community in Centralia, Washington. “This was a strategic disposition for MedCore and its investors as we continue to build and capitalize our value-add seniors housing acquisition portfolio in multiple markets across the United States,” says Anthony Fulco, director of acquisitions. “This was a profitable disposition for us as the seller and will be a great project for the buyer going forward.” said Anthony Fulco, Director of Acquisitions. Tony Cassie at Walker Dunlop arranged the transaction. The …
YAPHANK, N.Y. — Chelsea Senior Living has opened the assisted living and memory care expansion at The Chelsea at Brookhaven in the Long Island hamlet of Yaphank. While community’s independent living portion has been open for the past two years, the assisted living and memory care building next door recently received licensing approval from the state. The community is surrounded by residential housing, shopping, a hotel and various new builds. The number of units was not disclosed.
LINCOLN, Neb. — Real estate investment firm Lloyd Jones has acquired Woodlands at Hillcrest, an 89-unit, 107-bed seniors housing community in Lincoln. The seller and price were not disclosed. Built in 2018, the community is located within 10 miles of four hospitals, six shopping centers, two malls and the Lincoln Airport. Lloyd Jones Senior Living, the firm’s senior housing management division, will operate the community under its new name, AVIVA Woodlands. AVIVA is Lloyd Jones’ collection of senior living assets consisting of new, ground-up developments and recently constructed communities. While …
FORT WAYNE, Ind. — Lument has provided a $12.7 million FHA Sec. 232 note modification to refinance the existing debt on Park Place Senior Living, a 172-unit seniors housing community in Fort Wayne. David Boitano, managing director for Lument based in Seattle, led the transaction. The borrower is Sabra Health Care REIT. Park Place Senior Living consists of 158 assisted living beds in 132 units and 40 memory care beds/units. Traditions Management operates the community. “The FHA seniors housing note modification program proved to be an ideal solution that allowed …
ROCHESTER, Minn. — Lloyd Jones has acquired River Bend Assisted Living and Memory Care, an 89-unit senior living community in Rochester. The property will operate under Lloyd Jones’ proprietary AVIVA brand as AVIVA River Bend. The sales price was not disclosed. Constructed in 2014, the property is 1.5 miles from the original and largest Mayo Clinic. The community stretches over 2.8 acres and includes landscaped walking paths with direct access to the scenic Zumbro River trails. Blueprint Healthcare Real Estate Advisors arranged the $26.5 million sale. Lloyd Jones plans to …
SIMI VALLEY, Calif. — Griffin Living has opened the doors on Varenita of Simi Valley, an assisted living and memory care community in Simi Valley, approximately 40 miles northwest of Los Angeles. The 97,000-square-foot building, located in the Griffin Plaza shopping center at the corner of Tapo Canyon Road and Cochran Street, includes 75 assisted living units and 27 memory care units. The location of Varenita of Simi Valley represents a pioneering design in senior living development, since residents are within walking distance of amenities like Aldi supermarket, CVS pharmacy …
BOCA RATON, Fla. — Protea Capital Partners has opened a showroom at Sunscape, a 100-unit assisted living and memory care community under cpnstruction in West Boca Raton. Protea Capital Partners is the developer, and Solvere Living will operate the community upon opening. Hedrick Brothers Construction is handling construction of the two-story luxury community. Irwin Partners Architectures designed the building, while Klang & Association Coral Springs is the interior designer. “Our research indicates there’s a growing need by families living in the West Boca area to have their loved ones nearby,” …
CHICAGO — Cambridge Realty Capital Cos. has provided a $5.8 million HUD-insured loan for Morris Senior Living, a 76-unit assisted living facility near Chicago. The loan was underwritten by Cambridge Realty Capital Ltd. of Illinois, the lender’s specialists in HUD loans.