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.
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.
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 …
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.
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 …
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.
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 …
ANN ARBOR, Mich. — Lockwood Cos. has broken ground on Lockwood of Ann Arbor, a mixed-income seniors housing community in Ann Arbor. The property will be a three-story, 168,130-square-foot building with 154 independent senior apartments, including 65 units dedicated as affordable housing. Lockwood of Ann Arbor represents an approximately $45 million investment in the City of Ann Arbor and Washtenaw County. Scheduled to open in Summer of 2023, Lockwood of Ann Arbor will feature 89 one-bedroom units and 65 two-bedroom units. The Ann Arbor Area Community Foundation projects a rising …
By Matt Canterbury, President of Development, Homestead Cos. Seniors housing is seldom part of the broader economic development conversation. And when it is, affordable independent living communities are seldom recognized for their value to a city or town. Sometimes, they’re even resisted. This is a mistake that hurts older Americans and the communities in which they live. By 2030, our industry expects 10 million baby boomers — second only to seniors staying in their own homes — to be housed in independent living arrangements. While the majority of Americans 55 …
PONTE VEDRA, Fla. — CBRE has arranged a $37.2 million cash-out refinancing for Starling at Nocatee, a 140-unit independent living community in Ponte Vedra, a coastal suburb of Jacksonville. The community was built in 2019 and sits on a 6.5-acre site in the heart of Nocatee, a 15,000-acre master planned. The location is within walking distance of the Nocatee Town Center and directly across from the Splash Water Park, Nocatee’s signature amenity. CBRE originated a seven-year, floating-rate loan with three years of interest-only payments through its Freddie Mac OPTIGO lending …
