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CCRCDevelopmentFinanceNewsNorth Carolina

Ziegler Arranges $58.1M Bond Financing for Twin Lakes Community in Elon, North Carolina

by Jeff Shaw

ELON, N.C. — Ziegler has arranged $58.1 million in bond financing for Twin Lakes Community, a continuing care retirement community (CCRC) in Elon, approximately midway between Greensboro and Durham. Twin Lakes sits on approximately 215 acres of land. It first opened in 1983 and currently operates 434 independent living units, 36 assisted living units, 32 memory care units and 104 healthcare units. It ranks as the 28th largest nonprofit single-campus senior living organization in the nation, according to the 2022 LeadingAge-Ziegler 200. Having recently completed construction of a replacement nursing …

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Assisted LivingDevelopmentFloridaNews

AJP Ventures, Mas Group Complete Luxury Community in Miami

by Jeff Shaw

MIAMI — Leading Miami-based commercial real estate owners and developers AJP Ventures and Mas Group, along with equity partner OCTA, have completed construction of The Contemporary, a luxury assisted living community in the Westchester neighborhood of Miami. The developers have planned a ribbon-cutting ceremony for Jan. 26 to officially open the doors. Charter Senior Living will operate The Contemporary, which features a mix of one- and two-bedroom units on a six-acre campus. The community is located on the same campus as MedSquare Place, a Class A medical office building also …

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CCRCDevelopmentFinanceIllinoisNews

Ziegler Arranges $99.9M Bond Financing for Plymouth Place Expansion Project in La Grange Park, Illinois

by Jeff Shaw

LA GRANGE PARK, Ill. — Ziegler has arranged $99.9 million in bond financing for Plymouth Place. The continuing care retirement community is located in La Grange Park, a village approximately 13 miles west of downtown Chicago. Plymouth Place features 182 independent living units, 52 assisted living units, 26 memory care units and 82 skilled nursing beds. Plymouth Place was incorporated in 1939 and is located on approximately 18.6 acres. The Illinois Finance Authority issued the bonds, which will be used for an expansion at the community. Known as The Arboretum …

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AcquisitionsActive AdultAffordable HousingAssisted LivingDevelopmentFinanceIndustry ContentOperationsVideosWebinars

Webinar: What Will 2023 Hold for Seniors Housing Investment & Acquisition Activity?

by Sarah Daniels

    In an uncertain time for the seniors housing industry, the “What Will 2023 Hold for Seniors Housing Investment & Acquisition Activity?” webinar focused on what’s influencing the landscape now and what is likely to affect it in the near future. The Dec. 8 panel discussion, hosted by Seniors Housing Business and sponsored by Valuation & Information Group, delved into tough topics like wages and staffing; inflation; the costs of debt and equity; government reimbursement; and other economic factors to illuminate what we can expect in 2023. Tune in …

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DevelopmentNewsTexas

Ryan Cos., Castletop Capital Break Ground on 222-Unit Community in Austin

by Jeff Shaw

AUSTIN, Texas — A partnership between Minneapolis-based developer Ryan Cos. and locally based investment and management firm Castletop Capital has broken ground on a 222-unit seniors housing project in Austin. Grand Living at The Grove will be located within a larger mixed-use development and offer 186 independent living and assisted living units, as well as 36 memory care units. Residences will range in size from 450 to 1,600 square feet. The five-story community will total approximately 348,353 square feet. Completion is slated for late 2024. According to ESRI, Austin’s age- …

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DevelopmentNewsSouth Carolina

SRI Opens 166-Unit Indigo Carolina Forest in Myrtle Beach, South Carolina

by Jeff Shaw

MYRTLE BEACH, S.C. — SRI Management LLC, in conjunction with ownership partners Compass Living and Bourne Financial Group, have opened Indigo Carolina Forest in Myrtle Beach. Situated on nearly nine acres in the heart of the Carolina Forest, the community features 166 units of independent living, assisted living and memory care. “This community is the second seniors housing development for our company, both poised within the thriving areas seniors want to call home,” says Bob Godard, chief executive officer, Compass Living. The community spans 189,500 square feet.

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Affordable HousingDevelopmentMinnesotaNews

CommonBond Begins Construction of The Lumin Affordable Community in St. Paul, Minnesota

by Jeff Shaw

ST. PAUL, Minn. — CommonBond Communities has started construction of The Lumin, which will provide 60 units of housing for seniors in the Highland Bridge development in Saint Paul. Units will be restricted to people age 55 and older who earn 30 percent or less of the area median income (AMI). A project-based Section 8 subsidy allows residents to pay 30 percent of their income in rent. Seven units will be reserved for formerly homeless seniors. The project is scheduled for completion in fall of 2023. The Lumin is the …

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CCRCDevelopmentFinanceNewsNorth Carolina

Ziegler Arranges $95.6M Financing for The Forest at Duke in Durham, North Carolina

by Jeff Shaw

DURHAM, N.C. — Ziegler has arranged $95.6 million in bond financing for The Forest at Duke, a continuing care retirement community in Durham. The community sits on 47 acres just south of Duke University. First opened to residents in 1992, the property serves over 360 residents across 154 apartments, 81 cottages (235 total independent living units), 32 assisted living units and 58 licensed skilled nursing beds. To address the changing needs of existing and future residents, The Forest at Duke adopted a strategic plan that included two phases. Phase I, …

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Active AdultCompany NewsDevelopmentNewsPeople

Arden 55+ Living Promotes Natalie Edeburn to Director of Operations

by Jeff Shaw

CHARLOTTE, N.C. — Arden, a Charlotte-based company developing 55+ active adult living communities in the Southeast, has promoted Natalie Edeburn to the role of director of operations. In this inaugural position, she will seek to establish best-in-class methodologies to support operational performance and develop company policies and procedures. Edeburn joined Arden earlier this year with over 25 years of real estate and property management industry experience throughout the Southeast. In her new role, she will be actively involved in all aspects of the assets and oversee the entire active adult …

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DevelopmentFloridaNews

Joint Venture Plans 197-Unit Fellowship at Wildlight in Nassau County, Florida

by Jeff Shaw

YULEE, Fla. — The Fellowship Family and Ambling Property Investments have unveiled plans for Fellowship at Wildlight, a 197-unit seniors housing community within the master-planned community of Wildlight. The development is located in Yulee, between Jacksonville and the Georgia border. Fellowship at Wildlight will feature 24 memory care units, 48 assisted living units, 125 independent living units and six cottages on nearly 16 acres of land within the first phase of the Wildlight development. Sitework is slated to begin in 2023 with anticipated completion in 2025. Fellowship at Wildlight pre-leasing …

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