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CCRCDevelopmentNewsNorth Carolina

LCS Development Begins 44-Unit Expansion at Plantation Village in Wilmington, North Carolina

by Jeff Shaw

WILMINGTON, N.C. — LCS Development has started construction of an expansion at Plantation Village, a continuing care retirement community in Wilmington. The project will add 44 independent living units with covered parking, a new artisan studio, woodshop, dog park, cocktail bar, billiards room, more indoor and outdoor dining options, and expanded garden area for residents. A theater room, board room and creative arts room are also planned. Herbert J. Sims & Co. guided the financing of the project. Construction is scheduled for completion by May 2023. Project partners include CJMW …

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CCRCFinanceNewsNorth Carolina

Ziegler Arranges $130.8M Financing for United Methodist Retirement Homes

by Jeff Shaw

DURHAM, N.C. — Ziegler has arranged $130.8 million in bond financing for United Methodist Retirement Homes (UMRH). Based in Durham, UMRH operates three communities in North Carolina: Croasdaile Village in Durham, Cypress Glen in Greenville and Wesley Pines in Lumberton. The portfolio totals nearly 1,000 units. The bonds comprise both public, fixed-rate bonds and direct bank-held bonds that enable UMRH to lock in cash flow savings while borrowing $32.6 million of new money capital with its maximum annual debt service unchanged. In addition, the financing will fund a 54-unit independent …

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Ingrid Svensson staffing technology
CCRCContent PartnersIndustry ContentOperationsPeopleSkilled NursingTechnology

Streamlining Workflows in Post-Acute Care via Electronic Health Record Software

by Sarah Daniels

Balance and efficiency in seniors housing have always been the hardest-to-achieve goals of the post-acute care continuum. Electronic health record (EHR) software, integrated with existing technologies, can both promote consistency and save staff time. Once fully integrated, care platforms can create a cascade effect where purpose-built technologies improve the system of care: easier interfaces improve health records, analyze resident data and predict problems before they happen. Better records and data analytics save staff time and effort, so they can focus on improving care. Applying Technology to Post-Acute Issues Post-acute EHR …

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CCRCDevelopmentFloridaNews

FK Architecture Designs 155-Unit Expansion at Westminster Baldwin Park in Orlando

by Jeff Shaw

ORLANDO, Fla. — FK Architecture has completed design work for the second phase of Westminster Baldwin Park in Orlando. The 180,000-square-foot expansion will bring the continuing care retirement community to a total of 155 units and 40 rehabilitation beds. The second phase features three additional new residential buildings with 75 apartments. The general contractor for the project is Clancy & Theys.

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AcquisitionsCCRCNew HampshireNews

Covenant Living Acquires Hillside Village CCRC in Keene, New Hampshire

by Jeff Shaw

KEENE, N.H. — Covenant Living Communities and Services has agreed to acquire Hillside Village Keene, a continuing care retirement community (CCRC) in Keene, just north of the Massachusetts border. Covenant is purchasing the community out of bankruptcy in a deal scheduled to close in early 2022. The price was not disclosed. Hillside Village opened in 2019 with 141 independent living units, 43 assisted living units, 18 assisted living/memory care units and 20 nursing care suites. Its ability to achieve a healthy occupancy was severely interrupted by a suspension of sales …

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CCRCFinanceFloridaNews

Ziegler Arranges $16.6M Bond Refinancing for Oak Hammock at the University of Florida

by Jeff Shaw

GAINESVILLE, Fla. — Ziegler has arranged $16.6 million in bond financing for Oak Hammock at the University of Florida, a nonprofit continuing care retirement community in Gainesville. The community sits on an approximately 135-acre campus and consists of 269 independent living units, 46 assisted living units, 24 memory care units and 73 skilled nursing beds. The proceeds of the bonds will be used to refinance outstanding 2017 debt and finance approximately $1.9 million of capital expenditures. The 2021 bonds will be followed by the $39 million in bonds scheduled for …

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CCRCDevelopmentFinanceNew YorkNews

HJ Sims Arranges $398.1M Financing for Broadview at Purchase College Development in New York

by Jeff Shaw

PURCHASE, N.Y. — HJ Sims has arranged $398.1 million in tax-exempt and taxable bonds for Purchase Senior Learning Community Inc., which was formed to develop a new university-based retirement community, Broadview at Purchase College, on the State University of New York Purchase College campus. Centrally located on campus, Broadview will be a continuing care retirement community (CCRC) consisting of up to 68 assisted living and memory care beds, as well as 220 senior residential apartments and villas, 20 percent of which will be reserved for residents earning no more than …

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CCRCFinanceNewsPennsylvania

Ziegler Arranges $39.4M Bond Financing for Simpson in Pennsylvania

by Jeff Shaw

BALA CYNWYD, Pa. — Ziegler has arranged $39.4 million in bond financing for Simpson, a nonprofit operator based in Bala Cynwyd, a suburb of Philadelphia. Formerly known as Methodist Episcopal Home for the Aged, the borrower operates three continuing care retirement communities in the region: Simpson House in Philadelphia, Simpson Meadows in Downington and Jenner’s Pond in West Grove. The portfolio totals 482 independent living units, 56 personal care units, 118 assisted living units and 178 skilled nursing units. Simpson’s entire capital structure comprises all public, fixed-rate bonds as a …

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CCRCDevelopmentNewsNorth Carolina

Acts Begins Construction of $59M Expansion at Matthews Glen in North Carolina

by Jeff Shaw

MATTHEWS, N.C. — Acts Retirement-Life Communities has started construction on a $59 million expansion at Matthews Glen, a 124-acre continuing care retirement community in Matthews. The project will add 72 independent living apartments and 16 villas to its campus. Construction is also underway to add additional assisted living residences. The new construction is Phase II of the expansion and features 1,650- to 1,785-square-foot apartments along with 2,275- to 2,500-square-foot duplex-style villas. Amenities include tennis and pickleball courts. Acts is also adding 40 suites to its OakBridge Terrace assisted living residence, which …

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AcquisitionsCCRCFinanceNewsWisconsin

Vium Funds $21.3M Bridge Loan for Bria of Trinity in Milwaukee

by Jeff Shaw

MILWAUKEE — Vium Capital has provided a $21.3 million bridge loan for Bria of Trinity, a continuing care retirement community in Milwaukee. The loan provides funds for the acquisition of the property. The seller was seeking an exit from a geographic outlier while the buyer was looking to expand its presence in the state. Further details were not disclosed.

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