PEORIA, Ill. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Courtyard Estates of Peoria, a supportive living facility in Peoria. A large long-term care owner/operator based in Illinois sold the asset to a supportive living facility owner/operator for $8.2 million. Originally built in 1970 as a Peoria Landmark hotel, the property was renovated and converted into a supportive living community in 2011. Situated on 5.5 acres, the 110,315-square-foot facility features 100 supportive living beds in a mix of studio and one-bedroom layouts. At the time of sale, the …
Assisted Living
FORT COLLINS, Colo. — Co-developers MorningStar Senior Living and Haselden Real Estate Development, in partnership with local landowner and developer J.D. Padilla, have announced plans to develop MorningStar Senior Living at Old Town, an urban senior living project in Fort Collins’ Old Town. Located at the corner of North College Avenue and Cherry Street, the property will feature 160 independent living, assisted living and memory care units. MorningStar at Old Town will be a mixed-use urban development offering a mix of office and retail space for intergenerational connection. The partnership plans …
Insight Senior Living Breaks Ground on 72-Unit Assisted Living, Memory Care Facility in Albuquerque
by Jeff Shaw
ALBUQUERQUE — West Linn, Ore.-based Insight Senior Living has broken ground on Amaran Senior Living, an assisted living and memory care community in Albuquerque. The project team includes Paaru Builders, Montessori One Academy and Dekker/Perich/Sabatini. Located at 9100 Holly Ave. NE, the 81,000-square-foot facility will feature 56 assisted living units and 16 memory care apartments. Units will include natural light, moveable kitchen islands, contemporary closet organizers, stainless steel appliances, smart home technology and individual washers/dryers. The community will feature more than 15,000 square feet of amenity space, including multiple dining venues, …
Chicago Pacific Founders Acquires Assisted Living, Memory Care Community in Richardson, Texas
by Jeff Shaw
RICHARDSON, TEXAS — Chicago Pacific Founders and its subsidiaries, CPF Living Communities and Grace Management, have purchased Twin Rivers Assisted Living and Memory Care, a seniors housing community located in Richardson. Situated on five acres, the community features 83 assisted living and memory care units, as well as amenities and programming for residents. The buyer plans to invest in the facilities to enhance the quality of life for all stakeholders — residents, families, associates and prospective residents. Terms of the deal were not disclosed. Grace Management will manage the property.
BOERNE AND ROUND ROCK, Texas — CBRE Capital Markets has arranged a three-year, floating-rate loan, including 24 months of interest-only payments, on behalf of a joint venture between Harrison Street and Franklin Development Properties for the refinancing of two assisted living and memory care facilities in Texas. The portfolio consists of Franklin Park Boerne and Franklin Park Round Rock, two 76-unit assisted living and memory care community. Both properties were developed by the borrower in 2017. The communities feature a variety of amenities including a full-service hair and nail salon, theatre, …
BMO Harris Healthcare Closes $19.5M Acquisition Loan for 132-Unit Seniors Housing Community in Indiana
by Jeff Shaw
BLOOMINGTON, Ind. — BMO Harris Bank’s Healthcare Real Estate Finance group has closed a $19.5 million acquisition loan for Gentry Park Senior Living, a seniors housing community located at 901 S. Hastings Drive in Bloomington. The owners are an institutional private equity group, and St. Charles, Mo.-based Arrow Senior Living is the new fee-based manager of the facility. Built in 2016, the 132-unit seniors housing facility 32 senior villas, 74 assisted living units and 26 memory care units. Additionally, the 80,611-square-foot property features common areas, concierge services, free chauffeured transportation, spacious …