HORIZON WEST, Fla. — The Blake has neared completion of The Blake at Hamlin, a seniors housing community in Horizon West, a master-planned community west of Orlando near Disney World. The property will offer assisted living and memory care services. The number of units was not disclosed. Angie Layfield will serve as executive director while Joshua Bentley will be director of sales and marketing. The property is scheduled to open in fall of 2021.
OSHKOSH and WAUKESHA, Wis. — Senior Living Investment Brokerage (SLIB) has arranged the sale of three assisted living communities in Wisconsin. A publicly traded REIT sold the assets to reduce the number of buildings leased to a specific tenant. The buyer was a private, regional owner with assets in the area. The price was not disclosed. The portfolio consists of Mission Creek in Waukesha, a suburb of Milwaukee, and Bella Vista and Lakeshore Manor, located one mile apart in Oshkosh, approximately 45 miles southwest of Green Bay. Mission Creek is …
ANCHORAGE, Alaska — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 116-unit assisted living and memory care community in Anchorage. The community was built in 2017, officially opening in December 2019. The 82,813-square-foot facility sits on 2.7 acres of land, with an adjacent 2.7-acre plot available for purchase. The community’s developer sold the asset to a national REIT for $32.5 million. The new owner will use a third-party operator. The REIT also is considering a joint-venture independent living expansion at the property. Vince Viverito, Brad Goodsell and …
HILLSBORO, Ore. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Harmony Guest Home, a 42-unit assisted living and memory care community in Hillsboro, a suburb of Portland. The 22,597-square-foot community was built in 2002 with additions in 2006 and 2012. A one-property owner-operator looking to retire sold the asset for $8 million. The buyer was a national private equity that will partner with a third-party operator. The buyer plans to convert beds from assisted living to memory care and will also conduct a community-wide refresh. Jason Punzel, …
REDDING, Calif. — Merrill Commercial Real Estate has arranged the sale of a two-property portfolio made up of 151 units of assisted living and memory care in Redding. The properties went under contract pre-pandemic. Since that time, the occupancy dropped nearly 20 percent as a COVID outbreak in one of the locations took a toll. Despite this, the buyers stuck with the deal. A private equity group looking to expand in California acquired the properties from an independent owner-operator for $18 million. Tyler Merrill arranged the transaction.
TUCSON, Ariz. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired The Ranch Estates of Tucson, a 107-unit senior living community in Tucson. The property was previously known as Sage Desert Assisted Living and Memory Care. Grace Management will take over operations. The Ranch Estates of Tucson is located in North Tucson’s Casas Adobes community, near Oro Valley. Blueprint Healthcare Real Estate Advisors arranged a non-recourse acquisition loan through Truist on behalf of CPF. The seller and price were not disclosed. The …
DAYTONA BEACH, Fla. — Solvere Living has opened the sales center at Sunscape Daytona Beach, an 85-unit seniors housing community in Daytona Beach, located along the Atlantic Ocean northeast of Orlando. Upon completion, scheduled for late this year, the community will feature 65 assisted living units and 20 memory care units. Solvere Living, the operations management division of St. Petersburg-based Solutions Advisors Group (SAG), will be the operator. Protea Capital Partners is the owner and developer. Irwin Partners Architects designed the community.
EVESHAM TOWNSHIP, N.J. — Capitol Seniors Housing has broken ground on Arbor Terrace Marlton, a project in Evesham Township near Philadelphia that will consist of 60 assisted living apartments and 27 memory care units. The 76,500-square-foot community will be located near several major medical facilities and will offer amenities such as a private dining area, theater, bistro, hair salon, lounges and outdoor amenity spaces with artwork and a pond. Meyer Senior Living Studio is designing the project, and IMC Construction is the general contractor. The opening is scheduled for early …
DENVER — HJ Sims has arranged $3.8 million in Retroactive Property Assessed Clean Energy (PACE) financing for StoneCreek Real Estate Partners, a Dallas-based developer. StoneCreek develops and owns seniors housing communities in Texas, Colorado and Arizona, with Civitas Senior Living as the operator. The StoneCreek Littleton development is a 92-unit senior housing community with 70 assisted living units and 22 memory care units. The community opened in January of 2020 and provides local access to quality senior housing and care in the Littleton area of Denver. With occupancy and operational …
JEFFERSONVILLE, Ind. — Northland Networks has arranged $19.4 million in financing for the development of Bridgepointe Gardens, a seniors housing community in Jeffersonville, located just across the Ohio River from Louisville, Kentucky. The borrower is Denton Floyd Real Estate Group, a growing real estate development firm with over 3,500 multifamily units in Kentucky and Indiana. This project will be the company’s second senior living community and will be managed by Vitality Senior Services, an affiliated organization. Construction on the project has already begun. When completed, the community will feature 115 …
