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CCRCFinanceNewsWashington

Ziegler Arranges $74.6M Financing for Heron’s Key CCRC in Gig Harbor, Washington

by Jeff Shaw

GIG HARBOR, Wash. — Ziegler has arranged $74.6 million in financing for Heron’s Key, a continuing care retirement community located across Puget Sound from Tacoma in Gig Harbor. Currently, the community consists of 194 independent living units, 30 skilled nursing beds and 51 assisted living units. Heron’s Key is a subsidiary of Emerald Communities, which is based in Redmond. Emerald Communities will use proceeds of the Cinderella bank placement with other available funds to advance refinance its 2015 bonds, which financed the original construction of the community. The loan was …

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CCRCFinanceNewsPeopleWashington

Emerald Communities Hires Diana Jamison as Chief Financial Officer

by Jeff Shaw

REDMOND, Wash. — Emerald Communities, a nonprofit owner-operator based in Redmond, Washington, has hired Diana Jamison as vice president and chief financial officer (VP-CFO). Jamison will be responsible for the overall strategic and operational aspects of finance, accounting and information technology. She will work closely with the president and CEO of Emerald Communities, senior management, the board of directors, residents and numerous community partners to ensure Emerald Communities and its senior living properties Heron’s Key and Emerald Heights all meet their financial and business goals. Prior to joining Emerald Communities, …

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CCRCDevelopmentIndependent LivingKansasNews

Erickson Opens Independent Living Expansion at Tallgrass Creek in Overland Park, Kansas

by Jeff Shaw

OVERLAND PARK, Kan. — Erickson Senior Living has opened Santa Fe Ridge, an independent living expansion at its Tallgrass Creek continuing care retirement community. Located on 65 acres in the Overland Park suburb of Kansas City, Tallgrass Creek now features 96 new units. In addition to the new residences, Santa Fe Ridge features an indoor pickleball court and a new restaurant. The building is named for the historic Santa Fe Trail, which opened in 1821 and served as the most important route to the West before the era of the …

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CCRCDevelopmentFinanceFloridaNews

Ziegler Arranges $30M Bond Financing for Vicar’s Landing CCRC Expansion in Ponte Vedra Beach, Florida

by Jeff Shaw

PONTE VEDRA BEACH, Fla. — Ziegler has arranged $30 million in bond financing for Vicar’s Landing, a continuing care retirement community in Ponte Vedra Beach, approximately 20 miles southeast of Jacksonville. The community occupies a 24.3-acre site within Sawgrass, a 4,800-acre private resort and residential community. Sawgrass includes four golf clubs including TPC Sawgrass, the Sawgrass Marriott Resort, a shopping center and other residential and recreational amenities. Vicar’s Landing currently features 227 independent living units, 38 assisted living apartments and 60 skilled nursing beds. The financing will fund a Phase …

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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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