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Connecticut

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AcquisitionsAffordable HousingConnecticutNews

CBRE Brokers $39.8M Sale of Two-Property Affordable Seniors Housing Portfolio 

by Hayden Spiess

DANBURY and NORWALK, Conn. — CBRE has brokered the $39.8 million sale of a two-property affordable seniors housing portfolio located in Connecticut. CBRE represented the seller, First Atlantic LLC, in the transaction and procured the buyer.  An affiliate of Heritage Housing Inc. acquired the properties, which total 169 units and include Kimberly Place in Danbury and One Leonard in Norwalk.  Both properties are reserved for residents ages 62 and older. Kimberly Place and One Leonard feature 116 and 53 one-bedroom apartments, respectively. 

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Assisted LivingConnecticutFinanceMemory CareNews

Borrower Receives $35.3M Permanent Loan for Assisted Living and Memory Care Community in Southwest Connecticut

by Hayden Spiess

FAIRFIELD, Conn. — An undisclosed borrower has received a $35.3 million permanent loan for Sturges Ridge of Fairfield, an assisted living and memory care community located in Fairfield.  Provided through Freddie Mac, the 10-year, fixed-rate loan features full-term interest only payments.  Opened in 2018, Sturges Ridge of Fairfield totals 99 beds across 88 units. Benchmark Senior Living operates the community.  BWE secured the financing on behalf of the borrower. 

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3030-Park_Bridgeport-Conn
CCRCCompany NewsConnecticutNewsOperations

Senior Living Hospitality Group Assumes Management of Two Connecticut Communities

by Hayden Spiess

BRIDGEPORT and SOUTHBURY, Conn. — Senior Living Hospitality Group, a newly formed organization, has assumed management of two senior living communities located in Connecticut.  Watermark Retirement Communities previously operated the properties, which include 3030 Park in Bridgeport and East Hill in Southbury. A local team that previously operated as part of Watermark and which has overseen the two communities for many years formed the new organization.  All community employees will remain in their positions, according to a press release.  3030 Park is a continuing care retirement community (CCRC) with 196 independent …

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CCRCConnecticutDevelopmentNews

Greystone to Develop $230M Continuing Care Retirement Community in Southeast Connecticut

by Hayden Spiess

GROTON, Conn. — Greystone has announced plans for the development of Vista Point at Fairview, a new nonprofit continuing care retirement community (CCRC) in Groton in southeast Connecticut. Construction on the $230 million project is scheduled to begin in summer 2026.  Upon completion, the community will offer independent and assisted living units. The Town of Groton recently approved the development, and 220 seniors have registered early as depositors.  The project team includes AG Architecture, C.E. Floyd Construction, 828 Interior Design, AgePop Marketing, Langan Civil Engineering, Ziegler Financial and the law offices …

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Connect55+ Manchester in Manchester, Connecticut
Active AdultConnecticutDevelopmentNews

Connect55+ to Open Active Adult Community this November in Manchester, Connecticut

by Channing Hamilton

MANCHESTER, Conn. — Connect55+ Manchester, an active adult community located about 10 miles east of Hartford, Conn., will host a grand opening in November. The community has received its certificate of occupancy, and the property management team has begun leasing efforts. Details of the grand opening had not been finalized as of this writing. Connect55+ Manchester offers 128 one- and two-bedroom apartments. All units will have either a private patio or a private balcony. The property’s amenities include a movie theater, fitness center, library with a fireplace, spacious community center, …

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ConnecticutMassachusettsNewsOperationsPeople

LCB Appoints Two New Executive Directors in New England

by Jeff Shaw

SWAMPSCOTT, Mass., and WESTPORT, Conn. — LCB Senior Living has named Andrew Gillis as executive director of The Residence at Vinnin Square, an independent living, assisted living and memory care community in Swampscott, approximately 14 miles northeast of Boston. Gillis brings 30 years of healthcare experience, specifically in skilled nursing, assisted living and hospice, to The Residence at Vinnin Square. He is also licensed both as a nursing home administrator and a clinical social worker.  Previously, Gillis served as the president and chief operating officer for Bluepoint Healthcare. Additionally, his …

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AcquisitionsConnecticutNewsSkilled Nursing

ESI Arranges the Sale of Eight-Property Portfolio in Metro Hartford, Connecticut

by Jeff Shaw

HARTFORD, Conn. — Evans Senior Investments (ESI) has arranged the sale of an eight-property skilled nursing portfolio across the Hartford area of Connecticut.  The transaction, executed on behalf of a REIT from the West Coast, amounted to $60 million, or $54,249 per bed for the real estate only. The buyer was the existing operator. Made up of eight communities built between 1966 and 1990, this portfolio represents a significant share of the Connecticut skilled nursing market, with a total of 1,106 skilled nursing beds.  Upon marketing, the portfolio’s average census …

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AcquisitionsAssisted LivingConnecticutNews

Berkadia Arranges Sale of 85-Unit Community in Stamford, Connecticut

by Jeff Shaw

STAMFORD, Conn. — Berkadia has arranged the sale of an 85-unit assisted living and memory care community in Stamford, approximately 30 miles northeast of Manhattan.  Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders of Berkadia represented the seller, a publicly traded REIT. The undisclosed buyer is based in New England. No price was released.

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AcquisitionsConnecticutNewsSkilled Nursing

SLIB Brokers Sale of 90-Bed Miller Memorial Community in Meriden, Connecticut

by Jeff Shaw

MERIDEN, Conn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Miller Memorial Community in Meriden, approximately midway between Hartford and New Haven. The 90-bed skilled nursing community also features 19 cottage-style apartment units. The campus was under nonprofit ownership since its inception. While the community was operating at a heavy loss during the marketing period, buyers were attracted to the community due to it being non-union and having an above-average Medicaid rate, according to SLIB. The seller is a nonprofit based in Connecticut that had owned and …

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ConnecticutNewsOperations

Benchmark Senior Living to Operate 83-Unit Sunrise of Stamford in Connecticut

by Jeff Shaw

STAMFORD, Conn. — Benchmark Senior Living has taken over operations of the former Sunrise of Stamford, an assisted living and memory care community in Stamford, approximately 25 miles northeast of New York City. The 83-unit community will now be called Benchmark at Stamford.Including the new addition, Benchmark currently operates 65 senior living communities throughout the Northeast, including 20 in Connecticut and eight in Fairfield County. The company offers independent living, assisted living, memory care and respite care.

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