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ColoradoDevelopmentNews

MorningStar, Haselden Open 160-Unit Community in Fort Collins, Colorado

by Jeff Shaw

FORT COLLINS, Colo. — Co-developers MorningStar Senior Living and Haselden Real Estate Development have opened MorningStar at Old Town, a seniors housing property in Fort Collins.  The companies partnered with local landowner and developer J.D. Padilla to develop the asset in Old Town Fort Collins. Located at 360 Tenney Court, MorningStar at Old Town features 160 units for independent living, assisted living and memory care in a four-story residential building. Project partners included Hord Coplan Macht as architect, Haselden as general contractor and Thoma-Holec as interior designer.

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AcquisitionsColoradoIllinoisNews

Sunrise Senior Living Adds 13 Communities in Midwest, West

by Jeff Shaw

MCLEAN, Va. — Sunrise Senior Living, a McLean-based owner-operator, has added 13 senior living communities to its portfolio. The acquisitions came via two transactions. In the first, Sunrise became a joint-venture owner of two communities in the Chicago metro offering assisted living and memory care services. In the second transaction, Sunrise took over ownership of eight independent living communities in the greater Rocky Mountains area, and expects to take on three more management contracts in the coming weeks. The investment partners and names of the communities were not disclosed. Additionally, …

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AcquisitionsColoradoNewsSkilled Nursing

ESI Negotiates Sale of 110-Bed Summit Rehabilitation in Aurora, Colorado

by Jeff Shaw

AURORA, Colo. — Evans Senior Investments (ESI) has arranged the sale of Summit Rehabilitation & Care Community, a 110-bed skilled nursing facility in the Denver suburb of Aurora.  The seller was an independent owner-operator. An East Coast-based real estate holding company acquired the asset for an undisclosed price. ESI also helped arrange a new tenant for the property. Built in 1972 with a 2018 renovation, Summit Rehabilitation & Care Community maintained a 95 percent occupancy rate, generating over $11.9 million in annual revenue.

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AcquisitionsColoradoIndependent LivingNews

Walker & Dunlop Negotiates Sale of 125-unit Lakeview Senior Living in Lakewood, Colorado

by Jeff Shaw

LAKEWOOD, Colo. — Walker & Dunlop has negotiated the sale of Lakeview Senior Living, a 125-unit independent living community in the Denver suburb of Lakewood. Livingston Street Capital acquired the community, which was built in 2008. The seller and price were not disclosed. Joshua Jandris led the Walker & Dunlop team.

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AcquisitionsAssisted LivingColoradoNews

Ziegler Brokers Sale of Bethesda Senior Living Community in Grand Junction, Colorado

by Jeff Shaw

GRAND JUNCTION, Colo. — Ziegler has acted as exclusive financial advisor to Bethesda Senior Living on the sale of an assisted living community located in Grand Junction, near the Utah border. Bethesda Senior Living is a faith-based, nonprofit operator of over 20 communities spanning the Midwest and West regions. Cornerstone Management purchased the community in conjunction with a private real estate fund and took over operations. The price was not disclosed.

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AcquisitionsAssisted LivingColoradoNews

ESI Brokers Sale of 66-Unit Novellus Cherry Creek in Denver

by Jeff Shaw

DENVER — Evans Senior Investments (ESI) has arranged the sale of the Novellus Cherry Creek, an assisted living community in Denver.  ESI represented Novellus Living in the transaction. Peaks Healthcare purchased the asset for an undisclosed price. Originally built in 2002, Novellus Cherry Creek comprises 66 assisted living units and operates on a 59 percent private-pay basis. The community faced occupancy challenges, with only 36 percent of its units occupied at the time of marketing. In alignment with its broader portfolio strategy, Novellus Living opted to divest its Colorado asset, …

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ColoradoDevelopmentNews

MorningStar Senior Living Opens 160-Unit Community in Centennial, Colorado

by Jeff Shaw

CENTENNIAL, Colo. — MorningStar Senior Living and Edgemark Development have opened MorningStar at Holly Park, a 160-unit seniors housing property in Centennial, a suburb southeast of Denver. Situated on three acres, MorningStar at Holly Park offers 85 independent living, 50 assisted living and 25 memory care units in a four-story residential building. The project team includes Rosemann & Associates as architect, JHL Constructors as general contractor and Thoma-Holec Design as interior designer. MorningStar and Edgemark co-developed and co-own the community.

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AcquisitionsColoradoNews

SLIB Negotiates Sale of 108-Bed Devonshire Acres in Sterling, Colorado

by Jeff Shaw

STERLING, Colo. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Devonshire Acres, an independent living, assisted living and skilled nursing community in Sterling, near the Nebraska border approximately 130 miles northeast of Denver. The community consists of 24 independent living/assisted living beds and 84 skilled nursing beds. It was built in 1982 and renovated in 1989. The property totals 55,430 square feet on approximately 10 acres of land. The seller was a REIT. This was the tenant’s only managed asset in the state. The buyer is a …

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Assisted LivingColoradoDevelopmentNews

HDG Opens Terra Bluffs Community in Parker, Colorado

by Jeff Shaw

PARKER, Colo. — Health Dimensions Group (HDG), along with co-owners Ellipsis and Invesque, has opened Terra Bluffs, an assisted living and memory care community in Parker. The property is located southeast of Denver. Details such as the number of units were not disclosed. HDG provides oversight of the community’s day-to-day operations. Ellipsis is the project developer for the care community and Invesque is the project’s investment partner.

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Assisted LivingColoradoDevelopmentFinanceNews

Lument Arranges $27M Construction Financing for Mesa Verde Estates in Durango, Colorado

by Jeff Shaw

DURANGO, Colo — Lument has arranged a $27 million debt placement to assist Mission Senior Living with the construction of a 124-unit, 129-bed, two-story assisted living and memory care community to be known as Mesa Verde Estates in Durango.  Lument’s Steve McGee, Rob McAdams, and Sangjin Na led the transaction. The financing structure included a $20.9 million U.S. Department of Agriculture (USDA) guaranteed loan that a community bank provided. The structure also includes approximately $6 million of commercial property assessed clean energy (C-PACE) proceeds, which Lument sourced from an independent …

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