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Independent Living

AcquisitionsIndependent LivingNewsOregon

SLIB Arranges $3.5M Sale of Barnett Woods in Medford, Oregon

by Jeff Shaw

MEDFORD, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Barnett Woods, a 70-unit independent living community in Medford, near the California border. The community was built in 1975 with a renovation in 1980. The 60,796-square-foot building sits on nearly three acres. The seller was a regional owner-operator looking to focus on higher-acuity communities. A local owner-operator acquired the property for $3.5 million and plans to remodel and reposition the asset. Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the transaction.

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AcquisitionsIndependent LivingNewsOregon

Livingston Street Capital Acquires King City Senior Village Near Portland

by Jeff Shaw

KING CITY, Ore. — An affiliate of Livingston Street Capital has acquired King City Senior Village, an independent living community in the Portland suburb of King City, Oregon. This is the first West Coast addition to the firm’s active adult and independent living portfolio. The property was recently renovated. The number of units and other details were not disclosed. “We’re focused on identifying core, core-plus and light value-add communities throughout the country that facilitate the lifestyles today’s 55+ residents desire, based on our expertise in the active adult and independent …

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DevelopmentIndependent LivingNewsOhio

Resort Lifestyle Communities Opens 128-Unit Independent Living Community in Hudson, Ohio

by Jeff Shaw

HUDSON, Ohio — Resort Lifestyle Communities has opened Hudson Meadows, an independent living community in Hudson, approximately 25 miles southeast of Cleveland and 12 miles north of Akron. “Our research indicated there was a significant need for independent senior living communities in the area,” says Steve Mueller, COO of Resort Lifestyle Communities. Hudson Meadows offers 128 apartments for rent in studio, one-, two- and three-bedroom options for one monthly price that includes utilities and no buy-in fee or long-term leases.  Included in the monthly rent are on-site professional staff, live-in …

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AcquisitionsIndependent LivingNewsOregon

Merrill Arranges Sale of Sale of Independent Living Community in Oregon for $4.1M

by Jeff Shaw

NORTH BEND, Ore. — Merrill Commercial Real Estate has arranged the sale of a 69-unit independent living community in North Bend. The 44,000-square-foot community was part of a senior living portfolio that went into receivership in late 2019. The property is one of four properties in the portfolio that make up a continuum of care model in the local area. The name of the property and campus were not disclosed. Mike Merrill represented the court-appointed receiver. A California-based investment group focused on the multifamily sector paid $4.1 million for the …

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DevelopmentIndependent LivingNewsTexas

Juliette Fowler Communities Plans $24M Juliette Fowler Residences in East Dallas

by Jeff Shaw

DALLAS — Juliette Fowler Communities (JFC) has announced plans to construct a 144-unit independent living community, the Juliette Fowler Residences, for limited-to-moderate-wealth seniors in East Dallas. A groundbreaking for the $24 million development at the 25-acre site is planned for early 2021, with move-ins scheduled to begin in May 2022. JFC was awarded tax credit financing through The Texas Department of Housing and Community Affairs’ (TDHCA) competitive tax credit process. A 2019 study by the National Investment Center for Seniors Housing & Care (NIC) shows that 54 percent of middle-income …

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AcquisitionsIndependent LivingNewsTexas

Blueprint Arranges Sale of 170-Unit Lakeland Hills Senior Living in Dallas

by Jeff Shaw

DALLAS — Blueprint Healthcare Real Estate Advisors has brokered the sale of Lakeland Hills Senior Living, a 170-unit seniors housing community in Dallas. Originally built in 1987, the community was renovated in 2013 with several additional capital investments and upgrades completed since 2016. Following a previous operator transition, the REIT owner converted over 20 percent of the assisted living units to establish Lakeland Hills as exclusively independent living. Occupancy declined immediately following the conversion, but steadily improved month-over-month as the community was repositioned as an affordable independent living provider. Blueprint …

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Affordable HousingIndependent LivingIndustry ContentOperationsPeopleTechnologyVideosWebinars

Webinar: Seniors Housing Middle Market Conundrum — Development Challenges in Today’s Environment

by Sarah Daniels

In the Nov. 4 Seniors Housing Business webinar “Seniors Housing Middle Market Conundrum — Development Challenges in Today’s Environment,” panelists Craig Abbott and Mike Edwin of Health Dimensions Group weighed in on the challenges of developing products for the middle market. They describe demographic and development trends, plus strategies to meet changing needs. “The pandemic exacerbated the development challenges for those in the middle market by bringing with it higher retail and labor costs, higher costs of operations due to regulatory requirements of disease and infection management, PPU increases, as well as other …

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AcquisitionsIndependent LivingIowaNews

Essex Acquires Arbordale Independent Living Community Near Des Moines

by Jeff Shaw

URBANDALE, Iowa — Essex Communities has acquired The Reserve on Walnut Creek in Urbandale, a suburb of Des Moines, a rebranded the community as The Arbordale. The 121-unit independent living community is being converted by Essex from an entrance-fee model community to a rental model community and is Essex’s sixth acquisition and conversion like this over the past three years. Essex has planned a multi-million-dollar renovation that will update apartments and community spaces as well as expand services and amenities.

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DevelopmentIndependent LivingMassachusettsNews

DiMella Shaffer Completes Second Expansion at Brookhaven at Lexington in Massachusetts

by Jeff Shaw

LEXINGTON, Mass. — DiMella Shaffer, a Boston-based architecture and design firm, has completed its second expansion project for Brookhaven at Lexington. DiMella Shaffer’s relationship with Brookhaven began in 2003 when the 26-acre community underwent a major expansion that included the addition of the Harvard building, a 48-unit independent living building. The project also featured renovations to all common areas, and expansion and improvements to the assisted care and long-term care facility. The most recent expansion includes the construction of the Wellesley building which features 49 new luxury independent living apartments …

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