ALAMEDA, Calif. — Alegre Home Care, which provides in-home care assistance to elderly and disabled individuals, is joining Elder Care Alliance (ECA). Based in Alameda, ECA is a non-profit association of senior living communities and part of the Transforming Age network of affiliates. ECA currently serves more than 10,500 older adults through five residential communities and the Mercy Brown Bag Program, which sorts, packs and distributes groceries. Alegre’s founder and CEO Charles Symes will remain in place throughout the ownership transition and will serve as a home care consultant within the …
MORGAN HILL, Calif. — Steadfast Senior Living has sold Loma Clara, a 67-unit community located in Morgan Hill, for an undisclosed price. LTC REIT was the buyer. Completed in 2018, Loma Clara features 42 assisted living units and 25 memory care units. The property was roughly 92 percent occupied at the time of sale. Units total 529 square feet on average. Amenities at the community include a theater, fitness center, activity and game rooms, a library, outdoor courtyard, physical therapy space and bistro. Discovery Management will continue to operate the property. …
CARLSBAD, Calif. — Harrison Street has received a loan to facilitate the acquisition of a 153-unit senior living community located in Carlsbad. The community, Oakmont Santianna, totals 153 units, including independent living, assisted living and memory care residences. Oakmont Management Group developed the property, which opened in 2022. BWE arranged the financing, which includes a 10-year, fixed-rate loan with full-term interest-only payments. A life insurance company provided the loan. Oakmont Management Group will continue to operate the community on behalf of the new ownership.
RANCHO CORDOVA, Calif. — Developer, owner and operator Hawthorn Senior Living has opened Bear Hollow Estates, a new independent living community located in Rancho Cordova, roughly 15 miles outside Sacramento. Totaling 149 units, the property features studio, one- and two-bedroom apartments. Amenities at the $46.5 million development include a fitness studio, movie theater, billiards lounge, pub, salon and library. Outdoor features include walking paths, raised garden beds and a fire-pit courtyard. This marks Hawthorn Senior Living’s sixth community in California. Hawthorn’s national portfolio comprises more than 70 communities.
TUSTIN, Calif. — Jonathan Rose Cos. has acquired Coventry Court, a seniors housing community located in Tustin, for $83 million. Meta Housing Corp. was the seller. Developed in 2012, the property features 240 units, with 153 residences designed as affordable and reserved for seniors earning 50, 60 and 110 percent of the area median income. Consequently, the property qualifies for a 40 percent tax abatement. The other 87 units at the community are market rate. Jim Fisher, Vince Norris, Mike Smith and Tommy Yates of Northmarq brokered the transaction on behalf …
SANTA CLARA, Calif. — Ellore Senior Living, a recently opened 176-unit seniors housing community in Santa Clara, has launched a new onsite wellness program. Dubbed Wellness by Ellore, the program will offer onsite healthcare services to residents. Wellness by Ellore offers five “pillars” of care — Medical Advisement, Concierge Medicine, Ellore Med, Ellore Balance and Traditions Memory Care. Dr. Mahyar Ayati is leading the program. Through an exclusive partnership with Pine Park Health, Concierge Medicine will offer primary and specialist care including dentistry, podiatry, audiology, optometry and therapeutic massage. Ellore Med …
ANAHEIM HILLS, Calif. — JCH Senior Housing Investment Brokerage has arranged the sale of an assisted living and memory care facility located in the Inland Empire region of Southern California. A local operator acquired the property for $14.1 million. Licensed for 100 beds, the facility features 86 units. Cindy Hazzard and Jim Hazzard of Anaheim, California-based JCH represented both the buyer and seller in the transaction.
WALNUT CREEK, Calif. — Continuing Life LLC is currently underway on the development of The Glen at Heather Farm, a new seniors housing community in Walnut Creek. Upon completion, the property will total 354 units in the form of both apartments and single-story homes. In addition to independent living, the community will offer assisted living and memory care services, as well as long-term care options at an adjacent health center. Amenities at the property will include multiple dining venues, a health spa, aquatic center, theaters and pickleball and tennis courts. The …
SAN CLEMENTE, Calif. — CareTrust REIT and a joint venture partner have acquired a portfolio of skilled nursing facilities in the Pacific Northwest for $146 million. Comprising 911 licensed beds across 10 properties, the portfolio is located in Idaho, Oregon and Washington. The two existing tenants will continue to occupy the facilities on new, 15-year triple-net leases with extended options and annual escalators. California-based CareTrust provided common equity and preferred equity investments totaling $141 million at closing using cash on hand and a draw from the company’s revolving credit line. This …
GLENDALE, Calif. — EAH Housing, a nonprofit housing developer and manager, has announced plans to redevelop Parkview Glendale, an assisted living community located in Glendale. Upon completion, the property will feature 68 units of affordable housing for seniors. Originally built in 1973, the community will comprise 20 studio apartments ranging from 350 to 360 square feet and 47 one-bedroom apartments ranging from 400 to 475 square feet, as well as a 750-square-foot manager unit. Amenities at the 43,000-square-foot property will include a community room, community garden, courtyards and a resident lounge. …