FORT WASHINGTON and LANCASTER, Pa. — Acts Retirement Services and Willow Valley Communities, two of the nation’s largest not-for-profit senior living organizations, have entered into a strategic alliance. Acts, which is based in Fort Washington, will serve as sole corporate sponsor and manager for Lancaster-based Willow Valley Communities. Both headquarters are in the greater Philadelphia area. Willow Valley Living CEO John Swanson will step aside from management oversight to focus entirely on future development of Willow Valley Communities properties. All other current Willow Valley Communities leadership will remain in place …
FAIRFIELD, Calif. — Sundt Construction Inc. has completed construction of The Ridge at Paradise Valley Estates, an eight-acre life plan community in the Bay Area city of Fairfield. The Ridge features a mix of 70 cottages and villas. The private cottages have two bedrooms and attached garages, and the villas feature either one bedroom or two bedrooms with under-building parking. In addition to the amenities of the larger Paradise Valley Estates 76-acre community, residents can access The Ridge’s dining facility and outdoor amenities such as a learning center and outdoor …
URBANA, Ill. — HJ Sims has arranged an $8.8 million taxable note on behalf of Clark Lindsey Village. Established in 1978, Clark Lindsey Village is a nonprofit continuing care retirement community in Urbana. The campus currently features 147 units of independent living, 12 units of memory care and assisted living and 105 beds of skilled nursing. The borrower plans to use the funds to undertake a repositioning project at the community over the next five years. Phase I includes the construction of eight independent living villas, in addition to site …
ATLANTA — Lenbrook, an independent continuing care retirement community in Atlanta, has completed a $108 million expansion at the community. The project, named Kingsboro at Lenbrook, will add 53 independent living units, common areas, event space and a regulation croquet lawn on a four-acre parcel. The first Kingsboro at Lenbrook residents have already moved in, and just a few of the new 39 apartments and 14 villas remain available for sale, according to Lenbrook. THW Design was architect on the project, Greenbriar Development was development consultant and Brasfield & Gorrie …
NORFOLK, Va. — Harbor’s Edge, an independently owned continuing care retirement community in Norfolk, has completed construction of River Tower, a 24-story, 147-unit expansion. Dallas-based architecture firm Three designed the new building, which expands the community’s offerings across the continuum of care — independent living, assisted living, memory care and skilled nursing. In addition, the tower features 100,000 square feet of common areas and amenities. Development costs were estimated at $145 million. A grand opening is planned for spring 2022, when all residents should be moved into the fully pre-sold …
NEWTON, N.C. — Ziegler has arranged $76.1 million in bond financing for EveryAge, a Newton-based nonprofit owner-operator formerly known as United Church Homes and Services. The company was founded in 1961 to develop and manage seniors housing properties in the Southeast. The bonds affect the borrower’s three continuing care retirement communities: Abernethy Laurels in Newton; Piedmont Crossing in Thomasville, North Carolina; and Lake Prince Woods in Suffolk, Virginia. The financing was achieved through four separate bond issues: $22.2 million in fixed-rate bonds to refund a series of 2017 bonds and …
GRAND RAPIDS, Mich. — Ziegler has arranged a total of $42.9 million in bond financing for Holland Homes, a nonprofit owner-operator. Holland Home was formed in 1892 and operates 12 facilities on two campuses totaling 1,167 units, all in Grand Rapids. The bonds were issued in two separate transactions. The Economic Development Corp. of the City of Kentwood issued $9.9 million in bonds, which will be used to pay for capital improvements at the Breton Woods continuing care retirement community campus. A second set of bonds, totaling $33 million, will …
WILLIAMSBURG, Va. — Ziegler has arranged $71.3 million in bond financing for Williamsburg Landing, a continuing care retirement community (CCRC) in Williamsburg. Williamsburg Landing is located on 138.6 wooded acres and was founded in 1982. Since opening its doors, the community has grown to include 317 independent living apartments, 72 assisted living units, 24 memory care units and 73 health and rehabilitation units. Over the years, Williamsburg Landing has borrowed for its capital needs with direct bank bonds, resulting in a complex capital structure with 14 separate obligations provided by …
TYSONS, Va. — Walker & Dunlop, Inc. has arranged $300 million in construction financing for The Mather, a high-rise continuing care retirement community in the Washington, D.C. suburb of Tysons. A 50/50 partnership between Mather and Westminster Capital is developing the building. The project was announced in 2017, the land acquisition was completed in 2019 and pre-sales began this past summer. The transit-oriented project will comprise two buildings with 300 independent living apartments, 16 assisted living apartments, 20 memory support suites and 42 private nursing suites that will be built …
ATLANTA — Ziegler has arranged a total of $170.6 million in bond financing for Canterbury Court, a continuing care retirement community (CCRC) in Atlanta’s upscale Buckhead neighborhood. Canterbury Court was founded in the early 1960s by the All Saints Episcopal Church and St. Luke’s Episcopal Church. The community currently features 187 independent living apartments, 18 personal care apartments and 42 nursing care beds. Proceeds from the bonds will be used to implement a phased expansion and renovation project at the community. The first phase includes replacing the existing healthcare facilities …