Thursday, September 19, 2024
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Independent Living

AcquisitionsIndependent LivingNewsOhio

Blueprint Arranges Sale of 136-Unit Polaris Retirement Community in Columbus, Ohio

by Jeff Shaw

COLUMBUS, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Polaris Retirement Community, a 136-unit independent living community in Columbus. The four-story community is directly adjacent to the POLARIS Commerce Center, Ohio’s largest mixed-use development. The top floor was built to assisted living licensing specifications for added options in the future. Developed in collaboration with Pittsburgh-based Graziano Construction and Development Company Inc. and Sweetbay Senior Living, Polaris Retirement Living Properties LP engaged Blueprint to market the property and facilitate the sale process. United Church Homes Inc. (UCH), …

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Active AdultDevelopmentFloridaIndependent LivingNews

CanAm Capital Provides $10M Construction Loan for South Florida Senior Living Facility

by Kristin Hiller

PORT ST. LUCIE, Fla. — CanAm Capital Partners, an affiliate of New York City-based investment bank CanAm Enterprises, has provided a $10 million mezzanine loan for the construction of a 159-unit active adult and independent living community in South Florida. The property will be situated on a 10-acre site in Port St. Lucie, located on the east coast of the Sunshine State. The borrower, Lloyd Jones LLC, will operate the property under its Aviva brand. An expected completion date was not disclosed.

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Independent LivingNew YorkNews

Axiom Capital Arranges $17.4M Loan for Refinancing of Independent Living Property in Upstate New York

by Kristin Hiller

SARATOGA SPRINGS, N.Y. — Axiom Capital LLC has arranged a $17.4 million loan for the refinancing of a 178-unit independent living community located in the Upstate New York city of Saratoga Springs. The nonrecourse loan was structured with a 10-year term and a fixed interest rate. The local borrower has owned and operated the facility since its construction. A life insurance company provided the loan.

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Direct Supply seniors housing technology
Affordable HousingAssisted LivingContent PartnersFeaturesIndependent LivingIndustry ContentOperationsPeopleTechnology

Using Technology to Address Challenges Exposed by COVID

by Sarah Daniels

COVID-19 made clear the need to overhaul technology capabilities in senior living facilities everywhere. The next wave of senior care’s tech evolution will encompass what the pandemic highlighted: a need for technologies that not only enhance residents’ physical safety, but their holistic wellbeing as well.  The pandemic also brought to light a renewed focus on the importance of integrated technologies that improve staff efficiencies. As we explore the next generation of senior living’s technology evolution, it’s important to remember the foundation to all technology advancements: reliable Wi-Fi. The ability to …

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AcquisitionsArizonaIndependent LivingNews

SLIB Arranges Sale of 129-Unit Westgate Village in Glendale, Arizona

by Jeff Shaw

GLENDALE, Ariz. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Westgate Village, a 129-unit independent living community in Glendale. Located approximately nine miles northwest of downtown Phoenix, the property was built in 2017. It totals 112,000 square feet on approximately eight acres of land. A regional developer sold the community to a REIT for an undisclosed price. The new owner plans to keep the existing operator in place. Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the transaction. “This was a great opportunity for the …

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CaliforniaIndependent LivingNewsOperationsPeople

Koelsch Communities Hires Executive Director at The Park at Laguna Springs in Elk Grove, California

by Jeff Shaw

ELK GROVE, Calif. — Koelsch Communities has named Irene Charnell as executive director of The Park at Laguna Springs, a 129-unit independent living community in the Sacramento suburb of Elk Grove. Charnell brings more than 15 years of senior living experience to the community. She started as an active living director at a retirement community and has held a variety of positions within the industry including activity director, director of resident services and marketing director, and previously served as executive director of another community in California. Koelsch also hired Terrie …

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DevelopmentFinanceIndependent LivingNewsNorth Carolina

CBRE Arranges Construction Funding for 12-Story Village on Morehead Community in Charlotte

by Jeff Shaw

CHARLOTTE, N.C. — CBRE Senior Housing has arranged an undisclosed amount of construction financing for The Village on Morehead, a seniors housing community in Charlotte. The borrower is a joint venture between Bridgewood Property Co. and Harrison Street. The 12-story, Class A development will feature 199 units of independent living, with assisted living services arranged by Bridgewood’s wholly owned management company, Retirement Center Management (RCM). The property sits on “an irreplaceable infill site between downtown Charlotte and the city’s most desirable neighborhoods,” according to CBRE. Aron Will, Austin Sacco and …

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AcquisitionsCaliforniaIndependent LivingNews

TMG Negotiates $7.2M Sale of Bernardine Senior Independent Living in San Bernardino, California

by Jeff Shaw

SAN BERNARDINO, Calif. — The Mogharebi Group (TMG) has arranged the sale of Bernardine Senior Independent Living in San Bernardino, approximately 57 miles east of downtown Los Angeles. A Los Angeles-based private investment group sold the community for $7.2 million, which equates to $102,000 per unit and $206 per square foot. The buyer was a private investment group based in the San Gabriel Valley. Bryan LaBar and Otto Ozen of TMG represented the seller. “Due to the low price per unit and high-quality construction, the buyer pool was large,” says …

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Pipitone M&T seniors housing industry
Active AdultAffordable HousingAssisted LivingContent PartnersFeaturesFinanceIndependent LivingIndustry ContentInvestmentM&T Realty Capital Corporation

In the Seniors Housing Sector, a Sense of Recovery is Growing

by Sarah Daniels

For more than a year, seniors housing operators have battled rising vacancy, pressure on net operating income and uncertainty about the future as potential residents steered clear from property tours and lease commitments. Those difficulties have created a tough financing environment for the segment. But a growing number of seniors housing discussions today are centered on how operators and the industry are recovering, according to Christopher Callaghan, head of healthcare banking at M&T Bank. To what degree a recovery is occurring, however, depends on several variables. “There is still a …

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Active AdultDevelopmentFinanceFloridaIndependent LivingNews

United Group Receives $48M Construction Financing for The Alloro at University Groves in Sarasota, Florida

by Jeff Shaw

SARASOTA, Fla. — The United Group of Companies has received a $48 million construction loan from Trez Capital, with the funds used to build The Alloro at University Groves. Located in the coastal Tampa suburb of Sarasota, the community will feature 183 units of what the developer calls “independent living lite,” a bridge between active adult and independent living. Units are restricted to those age 55 and older. Units will vary in size between 708 and 2,232 square feet. A 15,210-square-foot clubhouse will serve as the center of the community. …

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