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CCRCNewsOperationsTexas

The Buckingham in Houston Names Philip Jacob as Executive Director

by Jeff Shaw

HOUSTON — The Buckingham, a continuing care retirement community in Houston, has named Philip Jacob as its new executive director. Jacob joined the community as a health care administrator in 2011, and mostly recently served as interim executive director. He brings several years of experience from SavaSeniorCare’s Houston properties. Under his tenure, the community earned and continues to receive a five-star rating from the Centers for Medicare and Medicaid Services (CMS). The healthcare center continues to achieve the highest clinical outcomes in the city and received deficiency-free surveys in 2015 …

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CCRCDevelopmentNewsWashington

Emerald Communities Starts Expansion Project at Emerald Heights CCRC in Redmond, Washington

by Jeff Shaw

REDMOND, Wash. — Emerald Communities has started construction of an expansion project at Emerald Heights, a continuing care retirement community (CCRC) in the Seattle suburb of Redmond. The new building, named Courtyard, will rise three stories and feature 42 independent living units ranging in size from 826 to 1,726 square feet. Dean Kelly of the architecture firm Rice Fergus Miller, who worked on Emerald Heights’ previous expansion in 2014, led the design of the new building. The Courtyard will total 70,638 square feet plus a 35,703-square-foot underground parking structure. GLY …

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CaliforniaCCRCDevelopmentFinanceNews

Ziegler Arranges $36M Bond Financing for Carmel Valley Manor in Carmel, California

by Jeff Shaw

CARMEL, Calif. — Ziegler has arranged $36 million in bond financing for California Congregational Retirement Homes. The transaction will refinance existing debt and fund capital improvements at Carmel Valley Manor. Located in the small beach city of Carmel, located south of the Bay Area, Carmel Valley Manor features 27 independent living cottages, 119 independent living apartments, 24 assisted living unts and 36 skilled nursing units on a 25-acre campus. The bonds were issued through the California Municipal Finance Authority and amortize over a 30-year period. “This successful round of financing …

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CCRCDevelopmentFloridaNews

Green Cay Life Plan Village Unveils Plans for $250M CCRC in Boynton Beach, Florida

by Jeff Shaw

BOYNTON BEACH, Fla. — Nonprofit developer Green Cay Life Plan Village Inc. has unveiled plans for a $250 million continuing care retirement community (CCRC) in Boynton Beach along the Atlantic Coast in South Florida. Green Cay has purchased the 15-acre site with plans for 170 independent living, 16 assisted living and 16 memory care units in a 340,000-square-foot building. The property is adjacent to Green Cay Nature Center. Independent living residences will range from one to three bedrooms; assisted living apartments will include studio to two-bedroom options; and memory care …

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CCRCDevelopmentIndustry Voices

New Demands are Impacting Design of Life Plan Communities

by Jeff Shaw

By Steven Leone and Richard C. Quinn, Spiezle Architectural Group Over the past several years, design trends have painted an interesting picture for future life plan communities that stray from what we have seen for decades. Life plan communities (previously known as continuing care retirement communities, or CCRCs) are nothing new. But with an older population growing and thriving, these life plan communities (LPCs) are shifting away from the traditional continuum of care-based models to a more independent version of health- and wellness-centric focus with little to no care. This …

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ArizonaCCRCFinanceNews

VIUM Provides $13.7M HUD Refinancing for 199-Bed CCRC in Arizona

by Jeff Shaw

ARIZONA — VIUM Capital has provided a $13.7 million HUD refinancing for a nonprofit continuing care retirement community (CCRC) in Arizona. The transaction replaces a bridge loan, which VIUM also provided in January 2021. The property features 12 independent living, 93 assisted living and 94 skilled nursing beds. Further details were not disclosed.

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AcquisitionsCCRCFinanceNewsNorth Carolina

Ziegler Arranges Acquisition Financing for 203-Unit Village at Brookwood CCRC in Burlington, North Carolina

by Jeff Shaw

BURLINGTON, N.C. — Ziegler has arranged three separate loans to fund the acquisition of The Village at Brookwood (TVAB), a continuing care retirement community (CCRC) in Burlington. Opened in 2003, TVAB features 155 independent living units, 12 assisted living units, 12 memory care units and 24 skilled nursing units on a 47-acre plot. The buyer, Well-Spring, is the current operator and also owns/operates a second CCRC in nearby Greensboro. Alamance Regional Medical Center originally developed TVAB, but the health system was acquired by Cone Health in 2011, after which Well-Spring …

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CCRCNewsPeopleTexas

Buckner Names David Ummel as New Executive Director at Buckner Westminster Place in Longview, Texas

by Jeff Shaw

LONGVIEW, Texas — Buckner Retirement Services has named David Ummel as the new executive director at Buckner Westminster Place in the East Texas city of Longview. Ummel most recently served as executive director for Calder Woods in Beaumont, which Buckner Retirement Services also operates. A 14-year veteran of Buckner, Ummel worked for Buckner Children and Family Services (BCFS) and Buckner church/ministry engagement prior to his move to Buckner Retirement Services. As a Buckner church engagement officer, he oversaw Faith Fosters Texas, a statewide initiative engaging the faith-based community with the …

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CCRCDevelopmentFinanceNewsTexas

Ziegler Arranges $197.7M Bond Financing for The Outlook at Windhaven in Plano, Texas

by Jeff Shaw

PLANO, Texas — Ziegler has arranged $197.7 million in bond financing for the Outlook at Windhaven Forefront Living, a seniors housing community in Plano. The property is currently in the development process. Designs call for 153 independent living apartments, 30 independent living cottages, 32 assisted living units and 24 memory care units. The proceeds will be used to refinance the cost of acquiring, developing and constructing the retirement community. The borrower is Forefront Living, formerly known as Presbyterian Communities and Services. The financing comprises $109.5 million of tax-exempt bonds, $88.2 …

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AcquisitionsCCRCNewsTexas

Grandbridge Brokers Sale of 664-Unit CCRC Portfolio in Texas

by Jeff Shaw

ABILENE, AMARILLO and TYLER, Texas — Grandbridge Real Estate Capital’s seniors housing investment sales team has arranged the sale of a three continuing care retirement communities (CCRC) in Texas. Lifespace Communities acquired the properties from RSF Partners, Evergreen Senior Living Properties and ER Senior Management. The price was not disclosed. The 664-unit portfolio provides a full continuum of care including independent living cottages and apartments, assisted living, memory care and skilled nursing in a hybrid structure of entrance-fee and rental contracts. The properties include Wesley Court in Abilene, The Craig …

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