DENVER — Ryan Cos. US Inc. and Cadence Living have unveiled plans for Acoya Cherry Creek, a seniors housing community in the Cherry Creek neighborhood of Denver. Totaling 156,622 square feet and 137 units, the project will be the first Acoya-branded community in the Denver market and the third in Colorado. The types of care were not disclosed. According to Moore Diversified Services, the senior population in the Denver area is expected to increase by more than 26 percent over the next five years. “Not only is there a need …
Colorado
CASTLE ROCK, Colo. — Solterra Cos. has broken ground on Bridgewater Living, a 142-unit seniors housing community in Castle Rock, approximately 30 miles south of Denver. The property is located on a 6.6-acre site. Although the type of care was not disclosed, Solterra describes the development as a “health and wellness campus for those looking to live a longer and healthier life.” Development costs were estimated at $38 million. Funding was in partnership with the Douglas County Housing Authority and Multi-Family Housing Revenue Bonds. The community is scheduled to open …
PGIM Real Estate Arranges $60M Freddie Mac Loan for Lincoln Meadows Senior Living in Parker, Colorado
PARKER, Colo. — PGIM Real Estate has arranged a $60 million Freddie Mac loan for the refinancing of Lincoln Meadows Senior Living in Parker. Trace Wilson of PGIM originated the transaction on behalf of Denver-based Spectrum Retirement Communities, which owns and operates the property. The floating-rate loan has a 10-year term, with five years of interest-only payments and a 30-year amortization. Located 20 miles south of Denver, Lincoln Meadows features 130 independent living units, 60 assisted living units and 18 memory care units.
Sunshine Retirement Names Kimberly Boughton Executive Director of Community in Aurora, Colorado
AURORA, Colo. — Sunshine Retirement Living has named Kimberly Boughton as executive director of Belleview Heights Assisted Living and Memory Care in Aurora. With more than 12 years of experience in the senior living and care industry, Broughton will be responsible for all day-to-day management, including leading the community’s health, safety, and infection prevention programs. Before starting her career in senior care, Broughton worked as an insurance broker. In 2008, she served as a marketing director for a home care company, where she was then promoted to director of operations. …
BOULDER, Colo. — Truist has provided a $50 million refinancing for Frasier, a continuing care retirement community (CCRC) in Boulder. The 20-acre campus is home to more than 350 residents, and is currently planning an expansion project, according to the community website. The refinancing “will provide significant cash flow savings to allow Frasier to create additional liquidity and flexibility,” according to Truist. Approximately $11 million of the transaction is a “Cinderella refunding,” where a prior issuance can be refunded and automatically convert its taxable debt to non-taxable debt in the …
DENVER — Blueprint Healthcare Real Estate Advisors has arranged the sale of two seniors housing campuses in Denver. Featuring a total of 188 units of assisted living and memory care, the two properties were constructed in the 1990s. A state-sponsored retirement pension fund sold the communities to an Arizona-based owner-operator for an undisclosed price.
AURORA and LAKEWOOD, Colo. — CBRE has arranged $14.4 million in financing for the acquisition of a seniors housing portfolio in Colorado. The borrower is a joint venture between Cadence Living and a private equity firm. The two communities, located in the Denver suburbs of Aurora and Lakewood, total 152 assisted living units and 35 memory care units. The joint venture plans to deploy $4 million for improvements to the two communities, the names of which were not disclosed. Aron Will, Austin Sacco and Matthew Kuronen of CBRE National Senior …
ROCKY FORD, PAONIA and GLENWOOD SPRINGS, Colo. — Walker & Dunlop Inc. has arranged $16.4 million in financing for three skilled nursing facilities in Colorado. The borrower is Madison Creek Partners. The portfolio comprises Pioneer Health Care Center, a 29-unit facility in Rocky Ford; Paonia Care & Rehabilitation, a 28-unit facility in Paonia; and Glenwood Springs Health Care, a 29-unit facility in Glenwood Springs. Kevin Giusti led the origination team. The HUD loans will refinance existing debt. Renovated in 1964, Pioneer Health Care Center is the only Veterans Affairs-contracted facility …
LITTLETON, Colo. — Anthem Memory Care has named Angie Erickson as executive director of Willowbrook Place, a memory care community in the Denver suburb of Littleton. Erickson previously worked for Leisure Care, serving as sales manager and general manager of Denver’s Carillon at Belleview Station. She has also been general manager of MacKenzie Place in Colorado Springs and Treeo, a senior living community in Utah.
DENVER — Blueprint Healthcare Real Estate Advisors has arranged the sale of two skilled nursing facilities in the Denver metro area and a third in Eastern Colorado. The portfolio totals 250 skilled nursing beds, as well as 25 assisted living units. LTC Properties sold the assets as part of its plan to divest all its Preferred Care-branded communities. The buyer is a private private company looking to expand its presence in Colorado, as well as its relationships with its third-party operators in the state. The price was not disclosed.