HINGHAM, Mass. — Callahan Construction Managers has completed The Residence at Penniman Hill, an assisted living community in the Boston suburb of Hingham. LCB Senior Living is the owner and operator, while The Architectural Team Inc. served as the design firm. This is Callahan’s fourth project with LCB Senior Living. The Residence at Penniman Hill features 90 assisted living and memory care apartments. The 90,000-square-foot, three-story building includes studio, one- and two-bedroom options.
Assisted Living
PASCO, Wash. — Blueprint Healthcare Real Estate advisors has arranged the sale of Tri-Cities Retirement Inn, an 82-unit assisted living and memory care community in Passco, located in the southeast portion of Washington state. A Washington-based owner-operator acquired the property for an undisclosed price. First Interstate Bank provided acquisition financing at an 85 percent loan-to-value ratio. The seller was not disclosed.
ROYAL PALM BEACH, Fla. — Hunt Midwest and Integral Senior Living have teamed with Pi Architects to develop The Capstone at Royal Palm, a 75,000 square-foot senior living community in the South Florida village of Royal Palm Beach. Plans call for 56 assisted living apartments and 44 memory care suites. “The Capstone at Royal Palms is the first in a series of projects with Hunt Midwest, Integral Senior Living and Pi Architects,” says Pi President Greg Hunteman.
WOODSTOCK, Ga. — Senior Living Investment Brokerage has arranged the sale of Insignia of Towne Lake, a 33-unit assisted living community in the Atlanta suburb of Woodstock. A Florida-based owner-operator acquired the asset for $2.9 million. The new owner plans to add memory care to the community. The transaction also included the assumption of a $2.6 million HUD loan. Built in 1996, the property was 94 percent occupied at the time of sale. The undisclosed seller was looking to remove operational outliers from its portfolio. Bradley Clousing and Patrick Byrne …
HIGHLAND PARK, Ill. — Capitol Seniors Housing has opened Atria Highland Park, an assisted living and memory care community in the Chicago suburb of Highland Park. The three-story, 72,000-square-foot community features 86 residential apartments on a 2.6-acre site. The operator is Atria Senior Living. Mosely Architects designed the project, while StudioSIX5 handled interior design. “Overlooking Sunset Valley Golf Club and located just south of Sunset Woods Park, the new community is also near medical facilities, downtown Highland Park shops and restaurants, a post office and many more local amenities,” says …
WASHINGTON, D.C. — The U.S. Department of Health and Human Services (HHS), through the Health Resources and Services Administration (HRSA), has announced that assisted living facilities may now apply for funding under the Provider Relief Fund Phase II. The move comes after months of lobbying by seniors housing industry associations amid the COVID-19 pandemic. Previously, while skilled nursing facilities received millions of dollars in governmental support, assisted living communities were left out of much of the funding. “Argentum, along with our trade association partners, have been advocating on behalf of …
DENVER — Blueprint Healthcare Real Estate Advisors has arranged the sale of two seniors housing campuses in Denver. Featuring a total of 188 units of assisted living and memory care, the two properties were constructed in the 1990s. A state-sponsored retirement pension fund sold the communities to an Arizona-based owner-operator for an undisclosed price.
Lancaster Pollard Arranges $25M Refinancing for Chaska Heights Senior Living in Minnesota
by Jeff Shaw
CHASKA, Minn. — Lancaster Pollard Mortgage Co. has arranged a $25 million refinancing for Chaska Heights Senior Living, a 138-unit assisted living and memory care community in Chaska, approximately 22 miles southwest of Minneapolis. Chaska Heights was originally developed in 2015 with a funding structure that included Tax Increment Financing (TIF) from the Chaska Economic Development Authority. The facility consists of two buildings, with 66 assisted living light units in one section and 58 assisted living units and 14 memory care units in the other. Tealwood Senior Living operates the …