Friday, November 22, 2024
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CCRCDevelopmentFinanceNewsVirginia

Ziegler Arranges $423.5M Bond Financing for Westminster-Canterbury on Chesapeake Bay in Virginia Beach

by Jeff Shaw

VIRGINIA BEACH, Va. — Ziegler has arranged $423.5 million in bond financing for Westminster-Canterbury on Chesapeake Bay (WCCB), a continuing care retirement community in Virginia Beach. The community is located on a 12-acre property fronting the Chesapeake Bay and currently includes 424 independent living units, 66 assisted living units, 14 memory care units and 108 skilled nursing beds. In addition, WCCB owns and operates a 172-unit rental independent living community called Opus Select, located a half mile away from the community. WCCB is carrying out an expansion to the community, …

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AcquisitionsAffordable HousingCCRCNewsOhio

Blueprint Arranges Sale of Mixed-Income Vineyard on Catawba Campus in Ohio

by Jeff Shaw

CATAWBA ISLAND, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Vineyard on Catawba in the lakeside town of Catawba Island. The campus features independent living units, assisted living apartments, developable land and affordable senior apartments. The seller was one of the country’s largest nonprofits. The buyer was United Church Homes, another large nonprofit seniors housing provider. The price was not disclosed. United Church Homes has rebranded the campus as The Parkvue Community on Catawba Island. Connor Doherty and Ryan Kelly led the Blueprint team.

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AcquisitionsAlabamaCCRCNews

Ziegler Arranges Sale of 316-Unit St. Martin’s in the Pines CCRC in Birmingham, Alabama

by Jeff Shaw

BIRMINGHAM, Ala. — Ziegler has served as sell-side financial advisor for the sale of St. Martin’s in the Pines, a 316-unit continuing care retirement community in Birmingham. Diversicare Healthcare Services acquired the property from the independent ownership board. The price was not disclosed. Located in the eastern outskirts of the city near the Mountain Brook and Homewood suburbs, the property is near the University of Alabama at Birmingham and the UAB hospital system. The community comprises a four-story independent living facility with 97 apartments, a two-story assisted living and memory …

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CCRCFrom The Magazine

No Margin, No Mission

by Jeff Shaw

Nonprofit providers consolidate, grow cautiously and seek efficiencies to continue serving seniors. By Jane Adler Nonprofit senior living providers face the same market forces as their for-profit counterparts, but nonprofits are putting their own spin on how to address operational challenges while fulfilling their mission.  Operating margins have been squeezed and consolidation among nonprofits is an ongoing theme. The organizations hope to realize the benefits of scale to reduce costs and boost productivity. Mease Life, for example, completed its affiliation with Acts Retirement-Life Communities in October 2023. Based in Dunedin, …

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CCRCNewsPeople

Life Care Services Promotes Kyle Exline to Director of Operations Management

by Jeff Shaw

DES MOINES, Iowa — Life Care Services, An LCS Company, has promoted Kyle Exline to the role of senior vice president, director of operations management for life plan communities.  Exline started his career with Des Moines-based LCS in 2008 and has impacted occupancy, operations improvement, development and building strong teams over his 15-year tenure. Along the way, he gained experience in for-profit, nonprofit, LCS-owned, LCS-managed and rental communities.   Exline will assume responsibility for the strategy and operations of 18 LCS equity-owned life plan communities and will oversee a team of …

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CCRCDevelopmentIndependent LivingNewsPennsylvania

Spellman Brady & Completes Interior Design for Friendship Village of Tempe Expansion

by Jeff Shaw

TEMPE, Ariz. — Spellman Brady & Co. (SBC) has completed the interior design for a new five-story, 64-unit independent living building for Friendship Village of Tempe.  SBC was responsible for selecting the interior finishes, as well as the selection and procurement of the furnishings and artwork.  The crowning highlight of the 142,619-square-foot building is the rooftop destination restaurant and brew house called Starfire. SBC collaborated with architecture firm Ryan A+E Inc. and general contractor Ryan Cos. US Inc. LCS Development, An LCS Company is the developer. Friendship Village of Tempe …

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CCRCDevelopmentFinanceNewsVirginia

Ziegler Arranges $52.5M Bond Financing for Shenandoah Valley Westminster-Canterbury in Virginia

by Jeff Shaw

WINCHESTER, Va. — Ziegler has arranged $52.5 million in bond financing for Shenandoah Valley Westminster-Canterbury (SVWC). The continuing care retirement community is located in Winchester, approximately 70 miles west of the Washington, D.C. metro area. SVWC was founded in 1982 and provides housing, healthcare and other services to nearly 400 residents on its 87-acre campus through the operation of 217 independent living units (164 apartments and 53 cottages), 48 assisted living units, 12 memory care units and 51 skilled nursing beds. SVWC is completing an independent living villa apartment expansion …

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CCRCDevelopmentGeorgiaIndependent LivingNews

Canterbury Court in Atlanta Expands With New Independent Living Tower, Seniors Housing Hub

by Jeff Shaw

ATLANTA — Canterbury Court, a continuing care retirement community in Atlanta’s Buckhead district, has doubled in size with its new expansion. The property now includes two new additions: The Garden Tower, a high-rise that features 105 independent living apartments and a ground-level restaurant, and Monarch Pavilion, a four-story building that offers seniors housing units, amenities and services in a neighborhood setting. Monarch Pavilion comprises Azalea View, a new assisted living community; Wisteria Park, a memory care destination centered around a courtyard garden; and Sage Glen, a skilled nursing neighborhood that …

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CCRCDevelopmentMinnesotaNews

Lyngblomsten Opens 168-Unit CCRC in Lino Lakes, Minnesota

by Jeff Shaw

LINO LAKES, Minn. — Lyngblomsten, a Minnesota-baed nonprofit senior services organization, has opened Lyngblomsten at Lino Lakes, approximately 20 miles northeast of Minneapolis. Located on 16 acres, Lyngblomsten at Lino Lakes is home to 20 detached rental townhomes and a multi-level senior living building that includes 96 independent living apartments, 35 assisted living apartments and 17 memory care suites. A second phase is planned to later add a skilled nursing wing. This is Lyngblomsten’s first continuing care retirement community (CCRC) campus to be constructed since 1912 (the other being its …

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