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Assisted Living

Assisted LivingCaliforniaDevelopmentFinanceNews

JLL Capital Markets Arranges Development Financing for The Lodge at Piner Road in Santa Rosa, California

by Jeff Shaw

SANTA ROSA, Calif. — JLL Capital Markets has arranged financing for development of The Lodge at Piner Road, a 92-unit seniors housing community. Blue Mountain Enterprises and Calson Management are developing the property, located in Santa Rosa, part of Sonoma County. Although the amount of the financing was undisclosed, it represents a 75 percent loan-to-cost ratio. A private lender provided the funds. The Class A property will total 37,762 square feet and consist of 66 assisted living units and 26 private memory care units. The property is adjacent to both …

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Assisted LivingFeaturesNew YorkNews

Lument Provides $8.3M HUD Refinancing for Gardens by Morningstar in Oswego, New York

by Jeff Shaw

OSWEGO, N.Y. — Lument has provided $8.3 million in HUD financing for Gardens of Morningstar, a 106-unit assisted living community in Oswego, located along Lake Ontario north of Syracuse. The transaction represents a refinancing via the FHA Sec. 232/223(f) program. The property was vacant until 2016, when current ownership acquired and substantially renovated the building. Lument helped ownership structure a bridge loan in 2017 that consolidated construction debt and positioned the facility for a HUD/FHA refinance. The new loan paid off the existing bridge loan and reimbursed the borrower for …

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Assisted LivingCaliforniaDevelopmentNews

Atria Opens 200-Unit Community in San Jose

by Jeff Shaw

SAN JOSE — Atria has completed construction of Atria Almaden, a 200-unit seniors housing community in the Almaden neighborhood of San Jose. The property is located near Almaden Lake Park, Santana Row and the San Pedro Square Market. The four-story community offers assisted living and memory care. Atria opened the community with aggressive infectious disease control measures under a health and safety initiative. The company vaccinated its first residents and staff on Dec. 21 and has now vaccinated more than 30,000 resident and staff across the U.S.

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AcquisitionsAssisted LivingFinanceNewsWisconsin

Walker & Dunlop Arranges $9.1M Financing for Acquisition of Tender Hearts Assisted Living in Green Bay

by Jeff Shaw

GREEN BAY, Wis. — Walker & Dunlop has arranged $9.1 million in financing for the acquisition of Tender Hearts Assisted Living, a 50-unit community in Green Bay. The property was built in 2009 and renovated in 2019. The total price of the acquisition was $10.1 million. The seller was not disclosed. Walker & Dunlop structured the HUD-insured financing on behalf of Senior Opportunity Funds Holding Co. (SOF), a seniors housing developer that has historically developed Class A independent living, assisted living and memory care communities in the Southeast. As part …

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AcquisitionsAssisted LivingFloridaNews

Berkadia Arranges $15M Sale of The Willows of Wildwood in Oxford, Florida

by Jeff Shaw

OXFORD, Fla. — Berkadia’s Seniors Housing and Healthcare Group has arranged the $15 million sale of The Willows of Wildwood, an assisted living and memory care community in the Central Florida municipality of Oxford. The Class A property opened in 2015, featuring 126 units totaling 134 beds. Tim Cobb and Brooks Minford of Berkadia completed the sale.

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Assisted LivingDevelopmentNew YorkNews

Maplewood, OHI Open Inspīr Carnegie Hill High-Rise Community on Upper East Side of Manhattan

by Jeff Shaw

NEW YORK CITY — Maplewood Senior Living and Omega Healthcare Investors Inc. (NYSE: OHI) have opened Inspīr Carnegie Hill, a high-rise seniors housing community in Manhattan’s Upper East Side neighborhood. The property is the first to open under Maplewood’s luxury Inspīr brand. Rising 23 stories, the community features 215 units of assisted living, memory care and what the company calls “enhanced care.” Claire Davenport will serve as house geriatrician through a collaboration with the Brookdale Department of Geriatrics and Palliative Medicine at the Icahn School of Medicine at Mount Sinai, …

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Assisted LivingFinanceIowaKeyBankNews

KeyBank Funds $17M HUD Refinancing for Two Bickford Properties in Iowa

by Jeff Shaw

DAVENPORT and MARION, Iowa — KeyBank Real Estate Capital (KBREC) has secured $17 million of fixed-rate Federal Housing Administration loans for Bickford Senior Living, a senior living owner and operator based in Olathe, Kansas. The loans will refinance debt for Bickford of Davenport and Bickford of Marion, both located in Iowa. The buildings each were built in 1998 on 2.5 acres. Bickford of Davenport comprises 42 beds, 35 for assisted living and seven for memory care. Bickford of Marion comprises 38 beds, 31 for assisted living and seven for memory …

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AcquisitionsAlabamaAssisted LivingNews

SLIB Brokers Sale of 42-Unit Brookdale Shoals in Muscle Shoals, Alabama

by Jeff Shaw

MUSCLE SHOALS, Ala. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Brookdale Shoals, a 42-unit assisted living and memory care community in Muscle Shoals, located along the Tennessee River in the northwest corner of Alabama. The asset was an operational outlier for Brookdale, the seller. The buyer is a local partnership between an individual investor and operating partner. The price was not disclosed. Brad Clousing, Jeff Binder and Daniel Geraghty of SLIB handled the transaction.

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AcquisitionsAssisted LivingGeorgiaNews

SLIB Brokers Sale of 46-Unit Amber Glen Community in Gainesville, Georgia

by Jeff Shaw

GAINESVILLE, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Amber Glen, a 46-unit assisted living and memory care community in Gaineville. Amber Glen is located approximately eight miles from Lake Lanier and 70 miles northwest of downtown Atlanta. A group of five tenants in common, which purchased the asset in 2006, sold the property for an undisclosed price. The buyer, primarily a skilled nursing owner-operator, is looking to expand its assisted living presence across the state of Georgia. SLIB’s Daniel Geraghty and Bradley Clousing handled the …

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Assisted LivingDevelopmentNewsVirginia

Silverstone, Watermark Open The Providence Luxury Community in Fairfax, Virginia

by Jeff Shaw

FAIRFAX, Va. — Silverstone Senior Living and Watermark Retirement Communities have opened The Providence, a luxury seniors housing community in the MetroWest neighborhood of Fairfax. The property features studio, one- and two-bedroom apartments offering services for assisted living, memory care and cognitive impairment. The number of units was not disclosed. Silverstone designed and developed the property, which Watermark will operate. The Providence features innovations that reduce or prevent transmission of viruses. These include an enhanced filtration and HVAC system, cold plasma bi-polar ionization, relative humidity levels of 40 to 60 …

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