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Assisted Living

Assisted LivingCaliforniaDevelopmentNews

Cadence Living, Flournoy Development, Harrison Street Break Ground on 80-Unit Community in Brea, California

by Jeff Shaw

BREA, Calif. — Cadence Living, Flournoy Development Group and Harrison Street have broken ground on Cadence Brea, an 80-unit assisted living and memory care in the Orange County city of Brea. The project team includes Thoma-Holec Design, Irwin Partners Architects and Flatiron Development Group. “This is a unique opportunity and part of our overall strategy to focus on boutique, high-end, amenity-laden communities with high walkability scores,“ says Rob Leinbach, principal with Cadence. “We are focused on locations with a high barrier to entry,” adds Justin Osborne, vice president at Flournoy …

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AcquisitionsAssisted LivingNewsWashington

Blueprint Brokers Sale of 40-Unit Amber Hills Community in Prosser, Washington

by Jeff Shaw

PROSSER, Wash. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of Amber Hills, a 40-unit seniors housing community in Prosser, 190 miles northeast of Portland, Oregon. Originally constructed in 1999, Amber Hills offers assisted living units. Blueprint positioned the asset as a value-add opportunity focusing the buyer’s ability to increase census by adding regional oversight and increasing the assisted living unit count through a new renovation on the vacant land parallel to the community. The buyer was a growing regional owner-operator. The seller was a local group. The …

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Assisted LivingDevelopmentNew YorkNews

Sunrise, Welltower, Hines Open 151-Unit Community in Manhattan

by Jeff Shaw

NEW YORK CITY — Sunrise Senior Living has opened Sunrise at East 56th, a 151-unit high-rise in the Upper East Side neighborhood of Manhattan. Partners on the project included Hines and Welltower (NYSE: WELL). The asset features assisted living and memory care services. Sunrise is collaborating with Northwell Health for services at the building. The community is the first and only building in the sector to receive LEED Silver, WELL Certification at the Silver level and WELL Health-Safety Rating Seal certifications, according to Sunrise. SLCE Architects designed the building. Champalimaud …

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Assisted LivingDevelopmentNewsTexas

MorningStar Senior Living Opens 112-Unit Community in Houston

by Jeff Shaw

HOUSTON — MorningStar Senior Living and Hines have opened MorningStar at River Oaks, a seniors housing community in Houston’s River Oaks neighborhood. The community features 85 assisted living and 27 memory care units. The community is Denver-based MorningStar’s first in Texas. Partners on the project include Munoz + Albin Planning & Architecture, Kirksey Architecture, Thoma-Holec Design, TBG Partners and D. E. Harvey Builders.

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Assisted LivingCaliforniaDevelopmentNews

Clearwater Opens 110-Unit Community in North Tustin, California

by Jeff Shaw

NORTH TUSTIN, Calif. — Clearwater Living has opened Clearwater at North Tustin, a 110-unit assisted living and memory care community in the Orange County municipality of North Tustin. The community features 72 assisted living apartments and 38 memory support apartments. Clearwater Living now operates five communities in California and Nevada.

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Assisted LivingFinanceGeorgiaNews

JLL Arranges $18.5M Refinancing for Manor Lake Gainesville in Georgia

by Jeff Shaw

GAINESVILLE, Ga. — JLL Capital Markets has arranged an $18.5 million refinancing for Manor Lake Gainesville, a 88-unit, recently constructed assisted living and memory care community in Gainesville, approximately 50 miles northeast of Atlanta. JLL worked on behalf of the borrower, Manor Lake Development LLC, to secure the non-recourse, floating-rate loan through a debt fund. Manor Lake Gainesville was completed in 2019. The property offers studio, one-bedroom and companion suites ranging from 421 to 558 square feet. Joel Mendes and Trent Niederberger led the JLL Capital Markets Debt Advisory team …

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Assisted LivingDevelopmentNewsSouth Carolina

Watercrest Completes 98-Unit Community in Myrtle Beach

by Jeff Shaw

MYRTLE BEACH, S.C. — Watercrest Senior Living Group and equity partners Peninsula Alternative Real Estate and Corecam Capital Partners have completed Watercrest Myrtle Beach Assisted Living and Memory Care, a seniors housing community in Myrtle Beach. The community features 76 units of assisted living and 22 units of memory care.

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AcquisitionsAssisted LivingNewsWest Virginia

ESI Brokers $7.1M Sale of SweetBriar Assisted Living in Dunbar, West Virginia

by Jeff Shaw

DUNBAR, W.V. — Evans Senior Investments (ESI) has arranged the sale of SweetBriar Assisted Living, a 65-unit assisted living and memory care community, for $7.1 million, or $110,000 per unit. The community is located in Dunbar, five miles east of Charleston. It was originally built in 1990, and underwent additional expansions in 1999, 2003 and 2007. Today the community has 75 functional beds and 85 licensed beds, and the resident base is 100 percent private pay. At the time of marketing, the community was averaging 95 percent functional bed occupancy …

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AcquisitionsAssisted LivingFloridaNews

Coldwell Banker Negotiates $8.2M Sale of Watermark of Gulf Breeze in Florida

by Jeff Shaw

GULF BREEZE, Fla. — Coldwell Banker Commercial has arranged the sale of Watermark of Gulf Breeze, an assisted living facility in Gulf Breeze, located across Pensacola Bay from Pensacola. The property sold for $8.2 million. The buyer and seller were not disclosed. Michael Mangrum, commercial state director for Coldwell Banker Commercial NRT in Florida, brought the property to market with Coldwell Banker Commercial NRT’s accelerated marketing team led by David Lowry and Roman Tsimberg. The property received 6,353 potential buyers, 138 confidentiality agreements and 16 fully approved bidders.

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Assisted LivingDevelopmentNew JerseyNews

Callahan Construction Breaks Ground on 90-Unit Seniors Housing Project in Basking Ridge, New Jersey

by Jeff Shaw

BASKING RIDGE, N.J. — Callahan Construction Managers has broken ground on Residence at Basking Ridge, a 90-unit seniors housing project that will be located about 40 miles west of New York City. Developed by LCB Senior Living and designed by The Architectural Team, the property will offer assisted living, memory care and respite care services. Amenities will include common living rooms, a bistro, salon and a fitness area. The development team expects to begin welcoming residents in early 2023.

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