ROCHESTER, N.Y. — Blueprint Healthcare Real Estate Advisors has arranged the sale of The Shire Senior Living in Rochester. The community features 200 beds of assisted living, as well as 42 standard apartment units. Ardent Senior Living sold the property to a New York-based owner-operator for an undisclosed price.
Assisted Living
MOUNT SINAI, N.Y. — Engel Burman has opened The Bristal at Mount Sinai, a 120-unit assisted living community in the Long Island hamlet of Mount Sinai. The Bristal at Mount Sinai has 76 assisted living apartments and 44 additional apartments for memory care. Monthly rents begin at $5,200 for assisted living and $8,400 for memory care. This is the 20th Bristal-branded community, with 15 of those located on Long Island. Engel Burman develops, owns and operates the properties.
Grandbridge Provides $16.6M Acquisition Financing for Summer Vista Assisted Living in Pensacola
by Jeff Shaw
PENSACOLA, Fla. — Grandbridge’s Seniors Housing and Healthcare Finance Group has provided $16.6 million in financing for the acquisition of Summer Vista Assisted Living in Pensacola. The property totals 89 units of assisted living and memory care. Details on the buyer and seller were not disclosed. Richard Thomas and Thomas Wiedeman, based in Grandbridge’s Atlanta office, originated the Freddie Mac loan.
LA GRANGE, Ill. — Pathway to Living has opened Aspired Living of La Grange, a 117-unit assisted living and memory care community in La Grange, approximately 13 miles southwest of downtown Chicago. Totaling five stories and 118,583 square feet, the community features 85 assisted living and 32 memory care units. Pathway to Living is a Chicago-based developer, owner and operator of seniors housing communities and the seniors housing arm of Chicago-based real estate investor and operator Waterton. This is the company’s 23rdcommunity in Chicagoland. Thoma Holec provided interior design services, …
DAVISON, Mich. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 32-unit assisted living community in Davison, a suburb of Flint. The property was built in 1997 and expanded in 2013. A REIT sold the community to a Grand Rapids-based operator.
DENTON, Texas — Investcor has completed the renovation of Fairhaven Assisted Living, a historic senior living building in Denton, approximately 35 miles north of Fort Worth. The development team for the 47-unit project included Pi Architects, Coastal Reconstruction, Allison Engineering, TDi Engineering, MEP Associates Design Groups and Architexas. The original building was designed by Texas architect O’Neil Ford, whose designs blended the surrounding environment into the building and featured the use of natural elements and materials. The original Fairhaven was originally developed in the 1950s, but closed in 2007 and …
Lancaster Pollard Provides $16.9M Refinancing for Assisted Living Community Near Chicago
by Jeff Shaw
BATAVIA, Ill. — Lancaster Pollard Mortgage Co., a division of ORIX Real Estate Capital, has provided a $16.9 million HUD refinancing for Heritage Woods of Batavia, a 148-unit affordable assisted living community in the Chicago suburb of Batavia. The borrower is Gardant Management. Brett Murphy led the transaction for Lancaster Pollard.
Industry leader Brenda Bacon, CEO of Brandywine Living and former Argentum Board Chair, offers expert insight into the industry-wide response to the COVID-19 health crisis and how senior living can apply those lessons going forward. Listen to Episode One of the Seniors Housing Business series Executive Insights to learn how Bacon and her team are protecting and promoting resident health, acting as educators and advocating for assisted living industry as a whole. Executive Insights is an exclusive interview series in which Seniors Housing Business interviews top thought leaders in assisted living. See …
MYRTLE BEACH, S.C. — Watercrest Senior Living Group and its equity partners, Peninsula U.S. Real Estate and Corecam Capital Partners, have broken ground on Watercrest Myrtle Beach Assisted Living and Memory Care in Myrtle Beach. The property will feature 76 assisted living units and 22 memory care units near the Atlantic Coast and many golf courses. Bank of Texas financed the construction, and Shiel Sexton is the builder. The project is scheduled for completion in late 2021.
WASHINGTON and OREGON — Blueprint Healthcare Real Estate Advisors has arranged the sale of eight private-pay assisted living assets in Oregon and Washington totaling 321 units. A joint venture between an Arizona-based private equity firm and an Oregon-based owner-operator acquired. The seller and price were not disclosed. The buyer intends to reposition the communities, possibly adding more memory care units.