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Assisted Living

AcquisitionsAssisted LivingNewsWashington

MedCore Sells 72-Unit Cooks Hill Manor in Centralia, Washington

by Jeff Shaw

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 …

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Assisted LivingDevelopmentNew YorkNews

Chelsea Senior Living Opens Assisted Living Expansion in Yaphank, New York

by Jeff Shaw

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.

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AcquisitionsAssisted LivingNebraskaNews

Lloyd Jones Buys 89-Unit Woodlands at Hillcrest in Lincoln, Nebraska

by Jeff Shaw

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 …

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Assisted LivingFinanceIndianaNews

Lument Provides $12.7M HUD Refinancing for Park Place Senior Living in Fort Wayne, Indiana

by Jeff Shaw

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 …

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AcquisitionsAssisted LivingMinnesotaNews

Lloyd Jones Acquires 89-Unit River Bend Assisted Living in Rochester, Minnesota for $26.5M

by Jeff Shaw

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 …

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Assisted LivingCaliforniaDevelopmentNews

Griffin Living Opens 102-Unit Varenita of Simi Valley Near Los Angeles

by Jeff Shaw

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 …

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Assisted LivingDevelopmentFloridaNews

Protea Capital Partners Opens Showroom at Sunscape Community in Boca Raton, Florida

by Jeff Shaw

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,” …

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Assisted LivingFinanceIllinoisNews

BWE Provides $21M Freddie Mac Refinancing for HarborChase of Naperville

by Jeff Shaw

NAPERVILLE, Ill. — Bellwether Enterprise Real Estate Capital LLC (BWE) has provided a $21 million Freddie Mac loan for the refinance of HarborChase of Naperville, an assisted living and memory care community in the Chicago suburb of Naperville. Ryan Stoll and Taylor Mokris originated the loan on behalf of the borrowers, affiliates of Bourne Financial Group and HRA Senior Living. HRA operates the 101-unit, two-story property. The loan refinanced the construction debt of the recently developed property, which maintains prepayment flexibility along with a significant interest savings. The loan term …

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AcquisitionsAssisted LivingCaliforniaNews

IRA Capital Buys 160-Unit Portfolio in Northern California for $106.5M

by Jeff Shaw

DUBLIN and NOVATO, Calif. — Southern California private equity firm IRA Capital has acquired two newly constructed assisted living and memory care facilities totaling 160 units in the Northern California cities of Dublin and Novato for $106.5 million. An active player in the medical office, life sciences and ambulatory surgery space, IRA Capital is growing and diversifying its healthcare real estate portfolio by expanding into seniors housing in high-barrier-to-entry markets on the West Coast. Elegance Senior Living operates the two Class A communities. Elegance at Dublin is an 80-unit community …

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