LOS ANGELES —Live Oak Bank has provided a $25 million bridge-to-sale loan to finance a community located near Los Angeles. An entity doing business as Harbert Seniors Housing Fund I LP is the borrower. The financing features a three-year initial term, 36 months of interest-only payments and $2.8 million in potential future earnout proceeds. The property totals 97 units, with independent, assisted living and memory care residences.
PORTLAND, Ore. — Merrill Gardens, a senior living owner and operator, has added three communities to its Oregon portfolio. Located in metro Portland, the properties include Merrill Gardens at Cedar Mill, Merrill Gardens at Sherwood and Merrill Gardens at Hillsboro. Merrill Gardens acquired the communities as part of a joint venture with PGIM. An ownership group led by Rembold sold the Cedar Mill and Sherwood properties. Built in 2016, Merrill Gardens at Cedar Mill in Portland totals 163,975 square feet with 147 independent living, assisted living and memory care units. Merrill …
After seniors housing occupancy experienced a dramatic slump during the pandemic lockdowns and a plodding recovery, demand for senior living is now as strong as ever. However, financial pressures such as rising labor, healthcare and insurance costs continue to plague the industry, and experts don’t expect much relief from these factors in the near future. Against that backdrop, seniors housing owners and operators are seeking innovative ways to balance their budgets via new revenue sources without compromising the resident experience. One solution that can satisfy those criteria incorporates a technology …
ORLANDO, Fla. — JLL and HJ Sims have arranged $134.3 million in tax-exempt bond financing for a seniors housing development currently underway in Orlando. Dubbed Millenia Moments Orlando, the community will feature 151 independent living, 78 assisted living and 32 memory care units. Trinity Community Development Foundation, a nonprofit formed by Trinity Broadcasting Network (TBN), is the developer and borrower. Completion of the facility, which will total 316,900 square feet, is scheduled for 2027. The community will feature floorplans in one- and two-bedroom layouts. Memory care residences will include 26 private …
Elevators are something that most people take for granted until there’s a problem. Senior living residents may face various communication difficulties that can make elevators, and related emergencies, especially difficult to navigate. Hearing loss, vision impairments, difficulty speaking, confusion and anxiety can intensify the impact of mechanical malfunctions, medical emergencies or situations where residents become disoriented and unsure of their surroundings. When dealing with these problems in a senior living setting, where residents are often in more vulnerable conditions, there is a heightened sense of urgency. Having both eyes and …
GAINESVILLE, Fla. — Continuum Advisors has arranged the sale of The Village at Gainesville, a 639-unit seniors housing community in Gainesville. SantaFe Healthcare Inc. sold the 100-acre asset to funds managed by Fortress Investment Group for an undisclosed price. The Village at Gainesville consists of nine residential buildings — six independent living, one assisted living and two memory care — and several community clubhouses with amenities. Eighty percent of the residences are dedicated to independent living. Continuum states that the property is considered one of the largest seniors housing rental communities …
LOS ANGELES and AMBLER, Pa. — BWE, a Cleveland-based commercial real estate financial services firm, has arranged the $308 million refinancing of a pair of seniors housing properties in the Los Angeles and Philadelphia metro areas. The financing was structured as a single transaction on behalf of a joint venture between Columbia Pacific Advisors, LAMB Properties and Harbert South Bay Partners. Momentum Senior Living operates both properties. Located northwest of Los Angeles in Woodland Hills, California, The Variel is a 336-unit community that offers independent living, assisted living and memory care …
New tools are helping seniors housing providers detect fall risks early, giving them an edge in prevention while preserving residents’ privacy and dignity. This technology is part of a new frontier in healthcare: tracking and identifying changes in behavior earlier and earlier while providing tailored alerts and wellness insights to improve outcomes. “We are always looking for opportunities to reduce falls and maintain, or improve, the overall health and wellbeing of our residents,” says Mark Mountel, director of technology at Life Enriching Communities (LEC). The not-for-profit owner and operator of …
SACRAMENTO, Calif. — Alta Senior Living has acquired a 162-unit seniors housing community located in Sacramento. Alta purchased the property with joint venture partner Brasa Capital Management. Formerly known as The Village at Heritage Park, the property will be rebranded as Rose Arbor Village. Built in 2017, the community features independent living, assisted living and memory care residences. Alta plans to implement a repositioning strategy that includes upgrading amenities, strategic lease-up initiatives and enhancing resident engagement. “We’re excited to add another full continuum community to our portfolio at an attractive basis …
FORT WORTH, Texas —Endeavor Group Real Estate (EGRE) has completed the repositioning of a 140-unit independent living community located in Fort Worth. The property, renamed Manor Independent Living, has undergone a one-year renovation and programming update. EGRE originally acquired the property in May 2024. Lounges, game rooms and amenity spaces at the community have been upgraded and supplemented. Monthly rental rates at the property will start at $1,900. Leasing is scheduled to begin in April.
