CCRC

Ziegler Arranges $58.1M Bond Financing for Twin Lakes Community in Elon, North Carolina

by Jeff Shaw December 20, 2022

ELON, N.C. — Ziegler has arranged $58.1 million in bond financing for Twin Lakes Community, a continuing care retirement community (CCRC) in Elon, approximately midway between Greensboro and Durham. Twin Lakes sits on approximately 215 acres of land. It first opened in 1983 and currently operates 434 independent living units, 36 assisted living units, 32 memory care units and 104 healthcare units. It ranks as the 28th largest nonprofit single-campus senior living organization in the nation, according to the 2022 LeadingAge-Ziegler 200. Having recently completed construction of a replacement nursing …

December 20, 2022

Acquisitions CCRC Illinois News

Ziegler Negotiates Sale of 192-Unit Pinecrest Community in Mount Morris, Illinois

by Jeff Shaw December 15, 2022

MOUNT MORRIS, Ill. — Ziegler has negotiated the sale of Pinecrest Community, a 192-unit senior living community located on 40 acres in Mount Morris, a tiny town of fewer than 3,000 people approximately 100 miles west of Chicago. Pinecrest Community is a Christian nonprofit continuing care retirement community affiliated with the Church of the Brethren. The community was initially established in 1893 to care for the elderly and orphans. The campus features active-adult cottage homes, independent living apartments, intermediate and skilled care living, and a specialized memory care center. The …

December 15, 2022

CCRC Development Finance Illinois News

Ziegler Arranges $99.9M Bond Financing for Plymouth Place Expansion Project in La Grange Park, Illinois

by Jeff Shaw December 12, 2022

LA GRANGE PARK, Ill. — Ziegler has arranged $99.9 million in bond financing for Plymouth Place. The continuing care retirement community is located in La Grange Park, a village approximately 13 miles west of downtown Chicago. Plymouth Place features 182 independent living units, 52 assisted living units, 26 memory care units and 82 skilled nursing beds. Plymouth Place was incorporated in 1939 and is located on approximately 18.6 acres. The Illinois Finance Authority issued the bonds, which will be used for an expansion at the community. Known as The Arboretum …

December 12, 2022

CCRC Development Finance News North Carolina

Ziegler Arranges $95.6M Financing for The Forest at Duke in Durham, North Carolina

by Jeff Shaw December 5, 2022

DURHAM, N.C. — Ziegler has arranged $95.6 million in bond financing for The Forest at Duke, a continuing care retirement community in Durham. The community sits on 47 acres just south of Duke University. First opened to residents in 1992, the property serves over 360 residents across 154 apartments, 81 cottages (235 total independent living units), 32 assisted living units and 58 licensed skilled nursing beds. To address the changing needs of existing and future residents, The Forest at Duke adopted a strategic plan that included two phases. Phase I, …

December 5, 2022

CCRC Development Florida News People

Convivial Life Appoints Lisa Cummins as Executive Director at The Cabana at Jensen Dunes in Florida

by Jeff Shaw December 2, 2022

JENSEN BEACH, Fla. — Convivial Life has appointed Lisa Cummins as executive director at The Cabana at Jensen Dunes in Jensen Beach, on the Atlantic Coast in South Florida. She will oversee the daily operations of The Cabana and help guide the 22-acre campus into a future life plan community. Convivial Life’s plans include 170 new independent living residences, a new clubhouse and other support services that will complement The Cabana. Cummins brings over 23 years of experience in leading senior living organizations, including assisted living communities, life plan communities …

December 2, 2022

Acquisitions CCRC News Pennsylvania

Cushman & Wakefield Arranges Sale of 426-Unit Watermark at Logan Square in Philadelphia

by Jeff Shaw November 29, 2022

PHILADELPHIA — Cushman & Wakefield has arranged the sale of The Watermark at Logan Square, a 426-unit rental continuum community in the Center City neighborhood of Philadelphia. The firm also served as the exclusive advisor to the undisclosed buyer in procuring acquisition financing. A fixture of the Philadelphia skyline, the 24-story tower originally opened in 1984 and offers independent living, assisted living, memory care and skilled nursing. The property is located prominently above the Logan Square circle and offers true urban senior living in one of the fastest growing neighborhoods …

November 29, 2022

CCRC News People Texas

Buckner Appoints Aaron Ortego as Executive Director of Calder Woods in Beaumont, Texas

by Jeff Shaw November 17, 2022

BEAUMONT, Texas — Buckner Retirement Services has named Aaron Ortego as executive director of Calder Woods, a continuing care retirement community in Beaumont, located east of Houston near the Louisiana border. Ortego steps in for the previous executive director, David Ummel, who now serves as executive director of one of Calder Woods’ sister communities, Buckner Westminster Place in Longview. Buckner Retirement Services operated both faith-based, nonprofit senior living communities. Prior to Calder Woods, Ortego served as CEO for Autism Services of Southwest Louisiana and Direct Care Inc. He has also …

November 17, 2022

Acquisitions Alabama CCRC News

Blueprint Brokers Sale of 279-Unit CCRC in Mobile, Alabama

by Jeff Shaw November 11, 2022

MOBILE, Ala. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Knollwood Healthcare & Gordon Oaks Senior Living, a continuing care retirement community (CCRC) in Mobile. Originally constructed in 1985 and expanded in 1987, 1993 and 1996, the property features 279 units of skilled nursing, independent living, assisted living and memory care. Blueprint represented the court-appointed receiver, Healthcare Management Partners, in the fall of 2021 to run a competitive marketing process to select a stalking horse bidder. That bidder, MED Healthcare, eventually became the buyer. The price was …

November 11, 2022

Arizona CCRC Development Finance News

Ziegler Arranges Bond Financing for La Posada CCRC Owner Near Tucson

by Jeff Shaw November 4, 2022

ORO VALLEY, Ariz. — Ziegler has arranged bond financing for La Posada, a continuing care retirement community (CCRC) owner in metro Tucson. La Posada was incorporated in 1996 to acquire the CCRC known as La Posada at Park Centre in Green Valley, approximately 30 miles south of Tucson. Originally constructed in 1987, Park Centre has grown to include 490 independent living apartments, 34 freestanding Park Centre homes, 17 freestanding Pavilion homes and 135 assisted living apartments. La Posada at Pusch Ridge will be the second location for this emerging system …

November 4, 2022

CCRC News People

Presbyterian Senior Living Promotes Kate Andreacci, Dan Krieger, Charles Gergits to New Roles

by Jeff Shaw October 28, 2022

DILLSBURG, Pa. — Presbyterian Senior Living (PSL), a Dillsburg-based operator, has promoted Kate Andreacci to vice president of life plan services. In her new role, Andreacci will be responsible for the identification of future opportunities for expansion of programming, the development and implementation of strategy, and the assurance of quality service for the company’s portfolio of continuing care retirement communities (CCRCs). Andreacci has been with PSL for over five years and has served as senior executive director, regional director of operations and, most recently, regional vice president of operations. Dan …

October 28, 2022

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