Development

CCRCDevelopmentFinanceNewsOregon

Ziegler Arranges $154.6M Bond Financing for Terwilliger Plaza Expansion in Portland, Oregon

by Jeff Shaw

PORTLAND, Ore. — Ziegler has arranged $154.6 million in bond financing for Terwilliger Plaza, a continuing care retirement community in Portland. The Hospital Facilities Authority of Multnomah County, Oregon, issued the bonds, which will fund an expansion project. Terwilliger Plaza, incorporated in 1958, currently features 246 independent living apartments, 43 assisted living apartments and 22 residential care beds. The independent living apartments are located in two buildings: a 12-story apartment building known as The Tower, and a ten-story apartment building known as The Heights. The Tower is adjacent to a …

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Affordable HousingDevelopmentIndianaNews

TWG Opens $11M Line Lofts Affordable Community in Indianapolis

by Jeff Shaw

INDIANAPOLIS — TWG has opened Line Lofts Apartments, a new affordable senior living development on the eastside of Indianapolis. The property features 63 two-bedroom units. One-fifth of the units are designed and reserved for seniors with visual impairments, as part of a partnership between TWG and local nonprofit Visually Impaired Preschool Services (VIPS), which provides ongoing early intervention services to Indiana’s children with blindness/low vision. As part of the partnership, the $11 million property will include specific features that will aid visually impaired residents, including oversized elevator buttons, tactile markings …

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CaliforniaDevelopmentIndependent LivingNews

Revel Communities Begins Pre-Leasing at Independent Living Community in Folsom, California

by Jeff Shaw

FOLSOM, Calif. — Revel Communities, a division of The Wolff Company representing a portfolio of independent living communities, has launched pre-leasing at its newest community, Revel Folsom. Expected to open spring 2022, Revel Folsom is the latest expansion for Revel across the Western U.S. and will join Revel Palm Desert and Revel Lodi as the brand’s third independent living community in California in two years. Located 35 miles outside of Sacramento, Revel Folsom will feature views of the foothills of the Sierra Nevada Mountains. The size and number of units …

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Active AdultDevelopmentNewsOhio

Homestead Senior Living Breaks Ground on 131-Unit Active Adult Community in Blacklick, Ohio

by Jeff Shaw

BLACKLICK, Ohio — Homestead Senior Living has broken ground on Homestead Village, a 131-unit active adult community in Blacklick, approximately 10 miles east of Columbus. The property will span 122,275 square feet and is scheduled to open in October 2022. Development costs were estimated at $14.5 million, with Homestead Construction as the contractor. Homestead’s “active senior” designation is marketed toward people 55 and older, are just retired and do not require any form of assisted living. The average resident age is between 60 and 75.

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DevelopmentMemory CareNewsTexas

Nexion Health Opens Eagle’s Landing Memory Care Facility in Eagle Lake, Texas

by Jeff Shaw

EAGLE LAKE, Texas — Nexion Health has opened Eagle’s Landing, a memory care community within its Arbor Hills Rehabilitation and Healthcare Center at Eagle Lake. Located in the small city of Eagle Lake, approximately 70 miles west of Houston, the asset offers 20 units. The Arbor Hills Rehabilitation and Healthcare Center was one of nine Texas facilities where Nexion Health took over operations in December 2020.

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CCRCDevelopmentNewsSouth Carolina

LCS Completes Expansion Project at Rolling Green Village in Greenville, South Carolina

by Jeff Shaw

GREENVILLE, S.C. — Life Care Services and LCS Development have completed an expansion project at Rolling Green Village, a continuing care retirement community in Greenville. The project added 60 apartments, 23 single-family houses and duplexes, and a new commons building with a variety of amenities. Sitting on 175 acres, Rolling Green Village claims to the be the largest nonprofit employer in the state. “The genesis for this expansion started in a resident committee and was picked up and made actionable through the combined effort of the board, Life Care Services …

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Assisted LivingDevelopmentFinanceFloridaNews

CBRE Arranges Construction Financing for 130-Unit Anthology Boynton Beach in Florida

by Jeff Shaw

BOYNTON BEACH, Fla. — CBRE Senior Housing has arranged construction financing for Anthology Boynton Beach, a Class A, 130-unit senior living community located in the South Florida city of Boynton Beach. Aron Will, Austin Sacco and Tim Root of CBRE Senior Housing arranged the financing on behalf of  a joint venture between Anthology Senior Living and Harrison Street. The community will be operated Anthology, CA Ventures’ vertically integrated senior housing platform. Situated on a 5.3-acre site near the heart of Boynton Beach, the community will be a part of a …

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CCRCDevelopmentNewsSouth Carolina

Big Rock Partners, Kiawah Partners Plan $180M Seafields at Kiawah Island in South Carolina

by Jeff Shaw

KIAWAH ISLAND, S.C. — Kiawah Life Plan Village Inc. (KLPV), a newly formed nonprofit, has purchased a nine-acre site from Kiawah Partners, a subsidiary of South Street Partners, in the coastal resort community of Kiawah Island. Plans for the site include Seafields at Kiawah Island, a $180 million continuing care retirement community. Conceived in response to fill a void in the market, and at the request of Kiawah and Seabrook property owners as a way to age in place, the property will feature an in-house medical clinic operated by the …

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Affordable HousingDevelopmentNevadaNews

Volunteers of America Breaks Ground on Desert Oasis Affordable Expansion In Las Vegas

by Jeff Shaw

LAS VEGAS — Volunteers of America National Services (VOANS) has broken ground on Phase II of Desert Oasis, an affordable seniors housing property in Las Vegas. Phase II will add 43 new units to the existing 75 units in the Desert Oasis community. The building will include a recreational clubhouse facility with a computer room, exercise room, laundry facilities and a community garden. Desert Oasis will be built with energy-efficient systems using green building techniques and including solar panels and photovoltaics. The entire development will be Energy Star rated. Funding …

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DevelopmentFinanceIowaNews

Marcus & Millichap Arranges $20.3M Construction Loan for Meadowview of Davenport in Iowa

by Jeff Shaw

DAVENPORT, Iowa — Marcus & Millichap Capital Corp. (MMCC) has arranged financing of $20.3 million for the development of Meadowview of Davenport, a seniors housing facility located in Davenport. “This loan enables our clients to build new infrastructure to house and support senior living in Davenport and the surrounding communities,” says Frank Montalto, vice president capital markets, located in MMCC’s Chicago office. Montalto and Dean Giannakopoulos, senior vice president capital markets, arranged the financing. “We secured a five-year, 75 percent leverage construction loan with a 3.75 percent interest rate for …

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