LINDEN, Mich. — Charter Senior Living and DMK Development Group have announced plans to partner for the development of an 81-unit seniors housing community in Linden, approximately 15 miles south of Flint. DMK Development Group secured approximately 8.3 acres of land near Linden Price Airport. Pending governmental approvals, construction could start as soon as this fall with completion scheduled for fall 2021. The new community will feature 56 assisted living and 25 memory care apartments in a mixture of studio, one- and two-bedroom suites. The project will represent a total …
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Webinar: Safeguarding Residents and Caregivers During COVID-19
Seniors Housing Business hosted a panel discussion on June 3 entitled “Safeguarding Residents and Caregivers During COVID-19: Technologies that Prevent Infectious Disease Spread” where expert panelists addressed the importance of technology and creativity in keeping residents safe and connected, both during the pandemic and as nationwide shutdowns are ending. A high-touch industry like seniors housing requires a high-tech approach to ensure residents are healthy and feel part of their community. How can those in the industry elevate services, drive down costs and adapt in the face of new data? Learn …
HOUSTON — Colliers International has arranged the sale of a 15,610-square-foot assisted living facility in Houston. Ocean 4 LLC acquired the property from Best Personal Care for an undisclosed price. The three-story property features 46 beds in 26 units. It was built in 1976 and renovated in 2005 Richard Copeland of Keller Williams Commercial represented the buyer in the transaction. Elena Bakina of Colliers International represented the seller.
WINTER PARK, Fla. — Watercrest Senior Living Group and Titan Development Real Estate Fund I have opened the doors on Watercrest Winter Park Assisted Living and Memory Care. The 107-unit, resort-style senior living community is located in Winter Park, a northern suburb of Orlando. Watercrest Winter Park features 75 assisted living and 32 memory care apartments. This is the second senior living development partnership between Watercrest and Titan Development. Their first project, Watercrest Columbia Assisted Living and Memory Care, opened last fall in Columbia, South Carolina. Titan Development Real Estate …
CLARENCE CENTER, N.Y. — Greystone has provided an $8.6 million construction loan for the expansion of Bristol Village, an 84-unit, 110-bed assisted living and memory care community in Clarence Center, approximately 20 miles northeast of Buffalo. The fixed-rate loan will fund the construction of 23,000 square feet of residential and community spaces, which will include 32 additional beds. The facility was originally constructed in 2003. The loan will convert to permanent financing when the expansion project is completed and will run concurrent with the property’s existing HUD-insured loan, which Greystone …
FORT WORTH, Texas — Civitas Senior Living has completed construction of The Grandview of Chisholm Trail Senior Living in southwest Fort Worth. The luxury seniors housing community features 66 assisted living and 21 memory care residences. Civitas and Journey Capital co-own the community, and Civitas will also be the operator. “The Chisholm Trail Parkway is a booming part of Tarrant County, and we’re excited to be a part of that growth,” says Wayne Powell, founder and CEO of Civitas. Partners on the project include developer Journey Capital, management company Civitas …
ORANGE, Calif. — MBK Senior Living has acquired Kirkwood Orange, seniors housing community in Orange, approximately 30 miles southeast of downtown Los Angeles. Kirkwood Orange comprises 48 assisted living and memory care units. Originally built in 1999, the community underwent $1.1 million in capital improvements in 2019, including renovations to all common areas. The seller was a joint venture between Cadence Living and an institutional equity partner. This acquisition expands MBK’s portfolio to 33 owned and managed communities located throughout the Western United States. The purchase price was not disclosed. …
PHOENIX — Grandbridge’s Seniors Housing and Healthcare Finance Group has provided $11.3 million in financing for Avista North Mountain, a 132-unit assisted living and memory care community in Phoenix. The borrower is Avista Senior Living. The funds, arranged through the FHA 232/223(f) program, will refinance existing debt on the property. Richard Thomas, Meredith Davis and Kim Huffstutler of Grandbridge arranged the financing.
LOS ANGELES — Panorama Senior Housing has released plans for an assisted living and memory care community on Holt Avenue, 200 feet south of Los Angeles’ Beverly Hills neighborhood. KTGY Architecture + Planning designed the 61,000-square-foot project. Construction is slated to start in early 2021, with delivery planned for late 2022. The community will have a total of 80 resident rooms, 62 for assisted living and 18 for memory care. The memory care units will be on the second floor of the five-story building, with a dedicated common area, dining …
TEXAS — CBRE has arranges an undisclosed amount of financing for the acquisition of a 60-unit assisted living and memory care community in North Texas. The borrower is a joint venture between HJ Sims and Voralto Living. The financing is a four-year, floating-rate loan with 24 months of interest-only payments. A national bank provided the funds. CBRE’s Aron Will, Austin Sacco and Adam Mincberg arranged the financing. The name and specific location of the property were not disclosed.