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Independent Living

CaliforniaFinanceIndependent LivingNews

CBRE Arranges $15.5M Refinancing for Coastal Heights in Costa Mesa, California

by Jeff Shaw

COSTA MESA, Calif. — CBRE National Senior Housing has arranged $15.5 million in financing for Coastal Heights Senior Living, a 148-unit independent living community located in the Orange County city of Costa Mesa. The borrower was a joint venture between Capitol Seniors Housing and an institutional equity partner, which has owned the property since 2016. It was built in 1990 and has undergone $7 million in renovations since the acquisition. The operator is Integral Senior Living. Aron Will, Austin Sacco and Adam Mincberg arranged the three-year, floating-rate loan with full-term, …

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DevelopmentFloridaIndependent LivingNews

Zon Breaks Ground on 45-Unit Independent Living Community in Indian Harbour Beach, Florida

by Jeff Shaw

INDIAN HARBOUR BEACH, Fla. — Zon Management has broken ground on The Residences at Zon Beachside. The 45-unit independent living community is located in Indian Harbour Beach, which is on a barrier island east of Orlando. The property is scheduled to open in spring 2023. The development is an addition to the existing Zon Beachside Assisted Living & Memory Care campus, creating a continuum of care at the property.

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AcquisitionsCaliforniaFinanceIndependent LivingNews

CBRE Provides $8.4M in Acquisition Financing for Arbor Senior Living in Lodi, California

by Jeff Shaw

LODI, Calif. — CBRE has provided $8.3 million in financing for the acquisition of Arbor Senior Living in Lodi, approximately 40 miles south of Sacramento. Built in 1985, the community features 96 independent living units on a three-acre site. The borrower is Ray Stone Inc. Aron Will, Austin Sacco and Adam Mincberg of CBRE National Senior Housing partnered with CBRE Sacramento’s Kevin Randles to arrange the fixed-rate Freddie Mac financing. RSI will take over as operator following the sale.

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FinanceIllinoisIndependent LivingNews

Northmarq Arranges $19.2M Refinancing of Mayslake Center in Oak Brook, Illinois

by Jeff Shaw

OAK BROOK, Ill. — Northmarq has arranged a $19.2 million FHA loan for the refinancing of Mayslake Center II in the Chicago suburb of Oak Brook. The property features 249 independent living units and is located within the larger Mayslake Village. Amenities include a wellness center, dining room, chapel and social services. Sue Blumberg of Northmarq arranged the fixed-rate loan, which is fully amortized over 40 years. The borrower was a nonprofit entity.

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DevelopmentFloridaIndependent LivingNews

Lloyd Jones Breaks Ground on 159-Unit AVIVA Port St. Lucie in Florida

by Jeff Shaw

PORT ST. LUCIE, Fla. — Lloyd Jones has started construction of AVIVA Port St. Lucie, a 159-unit independent living community in the South Florida city of Port St. Lucie. The community features one- and two-bedroom options and is slated to open in spring 2023. Overlooking Lake Whitney, AVIVA Port St. Lucie will be near Town Center at St. Lucie West and across the street from a medical office center.

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AcquisitionsIndependent LivingNewsSouth Carolina

JLL Arranges Sale of 187-Unit Discovery Village at Sandhill in Columbia, South Carolina

by Jeff Shaw

COLUMBIA, S.C. — JLL Capital Markets has arranged the sale of Discovery Village at Sandhill, a 187-unit independent living community in Columbia. JLL marketed the property on behalf of the seller, South Bay Partners LLC. Liberty Senior Living LLC acquired the property and took over operations following the closing of the transaction. The property has been renamed to Inspire Sandhill. The price was not disclosed. Completed in 2019, Inspire Sandhill features one-, two- and three-bedroom units averaging 981 square feet. Located on 8.4 acres, Inspire Sandhill is near local entertainment …

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DevelopmentIndependent LivingNewsSouth Carolina

Resort Lifestyle Communities Opens 128-Unit Lakeview Independent Living Community in Columbia, South Carolina

by Jeff Shaw

COLUMBIA, S.C. — Resort Lifestyle Communities has opened Lakeview, a 128-unit independent living community in Columbia. “Our research indicated that there was a significant need for additional senior living communities in the Columbia area,” says Steve Mueller, COO of Resort Lifestyle Communities. Lakeview offers one-, two- and three-bedroom options.

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AcquisitionsIndependent LivingIndianaNews

Sonida Acquires Two Communities in Metro Indianapolis for $12.3M

by Jeff Shaw

INDIANAPOLIS — Sonida Senior Living has acquired two recently renovated senior living communities in metro Indianapolis for approximately $12.3 million. Core Redevelopment, a local multifamily developer and manager, acquired the communities in 2019 and immediately rebranded and repositioned the properties through interior and exterior renovations. Walker & Dunlop Investment Sales brokered the transaction. The communities, Northfield Senior Living and Southfield Senior Living, include 157 independent living units and are located approximately 20 minutes outside of downtown Indianapolis near major highways, stores and restaurants. The assets complement Sonida Senior Living’s existing …

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DevelopmentIndependent LivingNewsTexas

Silverpoint, Journey Capital Complete Phase I of Edition of Saginaw in Texas

by Jeff Shaw

SAGINAW, Texas — Journey Capital and SilverPoint Senior Living have opened Phase I and broken ground on Phase II at Edition of Saginaw, a 6.2-acre senior living campus in Saginaw. Located in the Dallas-Fort Worth Metroxplex, Phase I includes 22 one- and two-bedroom independent living cottages. Phase II will add 74 assisted living and memory care apartments. The 57,000-square-foot expansion is slated to open fall of 2023. This will mark the fourth collaboration and partnership between SilverPoint and Journey Capital.

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DevelopmentIndependent LivingNewsOregon

LRS Architects Designs 127-Unit Parkview at Terwilliger Plaza in Portland, Oregon

by Jeff Shaw

PORTLAND, Ore. — LRS Architects Inc has completed design work for Parkview at Terwilliger Plaza just south of downtown Portland. The 10-story, 370,000-square-foot building will bring 127 independent living apartments to the existing three-building senior living campus while providing space for up to 200 new residents. The project is designed to the Passive House standard with several sustainability goals, including sustainable energy use and improved air quality. “Features such as thermal bridge-free detailing, airtight construction, energy-efficient appliances, heat recovery ventilation and a green roof are central toward creating comfortable and …

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