Independent Living

CLEVELAND — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 102-unit independent living community in a Cleveland suburb. The property was constructed in the late 1980s. The buyer was a private, Northeast-based investor. Further details were not disclosed. Connor Doherty and Ryan Kelly led the Blueprint team.

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HASLETT, Mich. — REDICO has opened American House Meridian, a seniors housing community in Haslett, which is located within Meridian Township just east of Lansing and Michigan State University. The community rises four stories and features 132 units of independent living, 50 of which were pre-leased prior to opening. Cunningham-Limp Development Co. built the community, with Banko Design as architect. The site is located near highways I-96 and I-69, five premier golf courses and two major hospital systems: McLaren and Sparrow.

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MOORESTOWN, N.J. — Resort Lifestyle Communities has completed Parkers Bend Retirement, an independent living community in Moorestown, approximately 10 miles east of Philadelphia.  The company will hold a grand opening for the community on April 18. Although the number of units was not disclosed, they come in studio, one-, two- and three-bedroom plans.

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GREENVILLE, N.C. — LCS Development, An LCS Company, has received an undisclosed amount of financing for the community expansion and remodeling project at Cypress Glen, a senior living community in Greenville.  The $90 million project will add 57 independent living residences and include a new auditorium, expo kitchen, wine bar and remodeled amenities. LCS Development has led the planning, development and design, and will oversee the construction services.  The expansion is slated for completion by November 2025. Cypress Glen sits on over 95 scenic acres and is the only continuing …

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DURHAM, LUMBERTON and GREENVILLE, N.C. — Ziegler has arranged $67.2 million in bond financing for The United Methodist Retirement Homes (UMRH), a North Carolina-based nonprofit owner-operator of three continuing care retirement communities in the state. The borrower’s portfolio includes Croasdaile Village Retirement Community in Durham, Wesley Pines Retirement Community in Lumberton and Cypress Glen Retirement Community located in Greenville.  In total, the three communities comprise a total of 690 independent living units, 28 memory care units, 112 assisted living units and 194 skilled nursing units, which ranks UMRH as the …

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TEMPE, Ariz. — Ryan Cos. US Inc. has completed the second phase of a master-planned renovation on the 50-acre campus of Friendship Village Tempe.  The newly constructed, four-story, 142,000-square-foot building is 89 percent occupied. LCS Development is leading the project, and the operator is LCS. Friendship Village Tempe, one of the first continuing care retirement communities in the region, was originally built in 1980. The revitalization of its campus began with Phase I of construction in 2019. Ryan A+E Inc., the design studio of Ryan, was the architect for both …

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ALEXANDRIA, Va. — Bonaventure has neared completion of Alate Old Town, a 133-unit independent living community in Alexandria. Partners on the project include Senior Lifestyle Corp. and Earthcraft. The development is scheduled to open in March. Located in the Old Town West historic district of the first-ring Washingon, D.C. suburb, future residents will have access to more than 200 restaurants and boutiques alongside historic museums and activities on King Street, less than 0.3 miles away.  Alate’s main restaurant, Old Town Tavern, will be open to the public.

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SALISBURY, Md. — Commonwealth Senior Living has unveiled a planned expansion at Commonwealth Senior Living at Salisbury, located on the Delmarva Peninsula near the Delaware border, southeast of both Baltimore and Washington, D.C. The plan calls for 12 cottages and a new clubhouse. In addition to the new facilities, Commonwealth Senior Living will introduce new lifestyle programming and amenities. After construction is complete, there will be a total of 23 cottages at Commonwealth Senior Living at Salisbury. “We have seen a tremendous amount of demand from existing and prospective residents …

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BETTENDORF, Iowa — Senior Living Investment Brokerage (SLIB) has arranged the sale of Iowa Masonic, a 79-bed skilled nursing facility and 40-unit independent living community in the Davenport suburb of Bettendorf. The seller was a local nonprofit that sought to sell in order to turn the business over to a company with experience that could ensure the long-term viability of the facility. The buyer was a private owner with additional communities in Iowa. The price was not disclosed. Ryan Saul and Nick Cacciabando of SLIB handled the transaction.

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