LOS ANGELES — The Stahler Group of Marcus & Millichap has arranged the sale of an 89-unit assisted living and memory care community in Los Angeles County. The specific name and location of the property were not disclosed. A private investor sold the property to a regional owner with a track record of successful turnarounds. The price was not disclosed. The property was originally leased to Summerville followed by Emeritus and then ultimately Brookdale following the merger with Emeritus. Brookdale recently chose to not renew its lease.
Assisted Living
NEW JERSEY — Blueprint Healthcare Real Estate Advisors has arranged the sale of two assisted living communities in New Jersey. The properties each feature 39 units and are located 45 miles away from each other. A New Jersey-based owner-operator looking to expand acquired the properties as a value-add opportunity. The seller, price, names and specific locations were not disclosed.
Greystone Provides $23.8M HUD Refinancing for Courville Assisted Living Portfolio in New Hampshire
by Jeff Shaw
MANCHESTER, BEDFORD and NASHUA, N.H. — Greystone has provided $23.8 million in HUD-insured loans to refinance a trio of assisted living facilities in New Hampshire. The borrower is The Courville Company, which owns the communities: Courville at Manchester in Manchester; Courville at Carlyle Place in Bedford; and Courville Nashua & Aynsley in Nashua. Lisa Fischman, vice president in Greystone’s New York office, originated the interest rate reduction (IRR) transaction. The IRR reduces the interest rate on an existing HUD-insured loan, maintaining the existing maturity and loan amount. “An IRR is …
PARK CITY, Utah — Blueprint Healthcare Real Estate Advisors has arranged the sale of an undisclosed assisted living and memory care community in Park City, approximately 35 miles southeast of Salt Lake City. The community was built in 1999 and features 32 units of assisted living and 10 units of memory care. The Pacific Northwest-based owner sought to divest the asset as a geographical outlier in its portfolio. A local owner-operator bought the property for an undisclosed price, taking on the existing HUD loan as part of the deal.
CORAM, N.Y. — Racanelli Construction Co. has completed construction of the All American Assisted Living at Coram, in the Long Island Hamlet of Corm. The property offers assisted living, memory care and respite care services. The project was valued at $12.6 million. Working on behalf of the owner, Kaplan Development Group, Racanelli was part of the team that also included Engelbrecht & Griffin Architects; the civil engineering firm of Hyduk Engineering; the structural engineering firm of Shelly Engineering, Inc.; the mechanical, engineering and plumbing firm of BLW Engineers; and the …
FOXBORO, Mass. — Benchmark Senior Living has announced expansion plans for New Pond Village in the Boston suburb of Foxboro. The project will add 19 assisted living units, bringing the community’s total to 36 units. The new apartments will be on the third floor, overlooking the property’s 19.4-acre campus. SEO Construction is building the project, which Udelsman Associates of Hollis designed. StudioSix5 is handling the interiors. Since Benchmark acquired New Pond Village in May 2017, it has undergone extensive renovations. In 2018, an $8 million project brought new and refreshed …
CHESAPEAKE, Va. — Commonwealth Senior Living has acquired Cedar Manor Assisted Living, a seniors housing community in Chesapeake, located in the southeast corner of the state along the Atlantic Ocean and North Carolina border. Chesapeake Regional Healthcare built the property in 2001. It will be rebranded as Commonwealth Senior Living at Cedar Manor. The community currently features 60 assisted living and 12 memory care beds. Starting after the holidays, Commonwealth will immediately begin renovations to update the building and expand its capacity to 68 assisted living and 32 memory care …
Sunshine Retirement Names Kimberly Boughton Executive Director of Community in Aurora, Colorado
by Jeff Shaw
AURORA, Colo. — Sunshine Retirement Living has named Kimberly Boughton as executive director of Belleview Heights Assisted Living and Memory Care in Aurora. With more than 12 years of experience in the senior living and care industry, Broughton will be responsible for all day-to-day management, including leading the community’s health, safety, and infection prevention programs. Before starting her career in senior care, Broughton worked as an insurance broker. In 2008, she served as a marketing director for a home care company, where she was then promoted to director of operations. …
BEACHWOOD, Ohio — Sunshine Retirement Living has named Brandy Delp as the executive director of Windsor Heights Assisted Living and Memory Care of Beachwood in the suburbs of Cleveland. In her new role, Delp is responsible for all day-to-day management and operations of the community, including financials, marketing, and government and community relations. She will also oversee all health and safety programs including new heightened procedures and protocols to prevent and mitigate COVID-19 infection. A licensed practical nurse (LPN), Delp is also a certified dementia practitioner and a certified executive …