CCRC

TEMPE, Ariz. — Ryan Cos. US Inc. has completed the second phase of a master-planned renovation on the 50-acre campus of Friendship Village Tempe.  The newly constructed, four-story, 142,000-square-foot building is 89 percent occupied. LCS Development is leading the project, and the operator is LCS. Friendship Village Tempe, one of the first continuing care retirement communities in the region, was originally built in 1980. The revitalization of its campus began with Phase I of construction in 2019. Ryan A+E Inc., the design studio of Ryan, was the architect for both …

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SIOUX FALLS, S.D. — Sanford Health has announced plans to build Good Samaritan Society – Founder’s Crossing, a continuing care retirement community (CCRC) in Sioux Falls.  The developer plans to break ground this spring. The first phase of the project calls for 146 independent living villas, 120 independent living apartments, 32 assisted living apartments and 32 memory care apartments, due for delivery in 2026.  A second phase over the following two years will add a short-term rehabilitation and long-term care center, additional villas, a Sanford Health clinic and a Lewis …

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RICHMOND HEIGHTS, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Richmond Heights Place, a continuing care retirement community in Richmond Heights, a suburb northeast of Cleveland. The property, featuring a total of 138 seniors housing units and skilled nursing beds, was part of a strategic exit plan by a West Coast-based owner-operator. A private owner-operator looking to expand in the Midwest acquired the asset for an undisclosed price. Connor Doherty, Ryan Kelly and Dan Mahoney led the Blueprint team.

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BOSTON — HumanGood, the nation’s seventh-largest nonprofit, has completed its affiliation with Pleasant Spring Communities, which oversees Springhouse and Mount Pleasant Home and has provided senior living in Boston for more than a century.  The plan was announced in August, but required regulatory and lender approval before it could be consummated. “Now approved, the affiliation between HumanGood and Pleasant Spring Communities will enable Springhouse and Mount Pleasant Home to enhance their operational efficiencies, streamline processes, and introduce innovative programs that further enrich the lives of residents while also providing more opportunities …

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WOODLAND HILLS, Calif. — California Commercial Investment Group has acquired a 19-acre site adjacent to the iconic Motion Picture & Television Fund campus in Woodland Hills for $30 million. The buyer plans to develop a luxury senior living community encompassing approximately 300 units on the site. Construction is scheduled to begin in 2026 with completion planned for 2028. The property is located in the Santa Monica Foothills, approximately 30 miles west of Los Angeles. It is just steps from the Calabasas farmers market and adjacent to the Motion Picture & …

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VENICE, Fla. — Ziegler has arranged $10.5 million in bond financing for Jacaranda Trace, a seniors housing community in the Gulf Coast city of Venice. The borrower is Convivial Life Inc. Jacaranda Trace is part of a multi-phase, master-developed campus originally built in 1998 consisting of 436 independent living residences (apartments and villas), 19 assisted living units, 36 memory care units and a clubhouse on approximately 33 acres.  In June of 2022, the borrower used a portion of the proceeds of the issuance of 2022 bonds in the total amount …

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FORT WASHINGTON, Pa. — Ziegler has arranged $68.5 million in bond financing for Acts Retirement-Life Communities, a nonprofit operator based in Fort Washington, a northern suburb of Philadelphia. Of the total, $10.3 million were tax-exempt bonds issued through the Montgomery County Industrial Development Authority and $58.2 million were tax-exempt bonds issued through the Delaware Economic Development Authority. The proceeds will be used to reimburse a line of credit in the amount of $55 million for prior project costs in Delaware and to fund future project costs of $13 million in …

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BALTIMORE — Continuum Advisors has arranged the sale of The Village at Augsburg, a 313-unit continuing care retirement community in Baltimore. The campus comprises 131 independent living apartments, 51 assisted living units and 131 licensed skilled nursing beds situated on approximately 50 acres.  Jay Jordan and Dave Kliewer of Continuum Advisors represented Maryland-based National Lutheran Corp. in the sale of Augsburg to New Jersey-based Outcome Healthcare. The price was not disclosed. “NaLonal Lutheran affiliated with The Village at Augsburg prior to COVID-19 and put forward significant investment into the campus …

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BEACHWOOD, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Menorah Park, a sprawling seniors housing campus in the Cleveland suburb of Beachwood. Following an affiliation with a fellow nonprofit, Montefiore, in July 2020, the campus totaled 588 licensed skilled nursing beds, 288 assisted living and memory care units, and 193 independent living units. The seller was a nonprofit organization that has served Cleveland’s Jewish community since its founding in 1906. Facing challenges due to increased healthcare staffing and a shift in competitive landscapes, the board elected …

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WILLIAMSBURG, Va. — Ziegler has arranged $76.9 million in bond financing for an expansion project at Williamsburg Landing, a continuing care retirement community in Williamsburg. Williamsburg Landing is located on 138.56 acres. It was founded in 1982 and since opening its doors has grown to include 317 independent living apartments, 73 assisted living units, 36 memory care units and 58 health and rehabilitation units. In 2018, Williamsburg Landing acquired 15.3 acres of undeveloped land adjacent to the existing campus, on which the owners plan to develop an expansion known as …

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