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Independent Living

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Affordable HousingDevelopmentIndependent LivingNewsVirginia

True Ground Housing Partners Underway on $64M Affordable Seniors Housing Community in Metro D.C. 

by Hayden Spiess

CHANTILLY, Va. — True Ground Housing Partners has broken ground on a new affordable seniors housing community in Chantilly, roughly 30 miles outside Washington, D.C. Dubbed Avonlea Senior, the development will be situated within the Avonlea Town Center master-planned community by Peterson Cos.  Upon completion, the project will comprise 137 units reserved for residents age 55 and older. The property will also feature a wellness suite, business center and two community rooms.  Development costs will total roughly $64 million. Completion of the community is scheduled for summer 2026.  Financing for the …

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AcquisitionsAssisted LivingGeorgiaIndependent LivingMemory CareNews

SLIB Arranges Sale of 100-Unit Community in Georgia

by Hayden Spiess

LAGRANGE, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of LaGrange Heritage Senior Living, a 100-unit seniors housing community located in LaGrange.  Developed in 2021 on 14.1 acres, the property features independent living, assisted living and memory care residences.  A Georgia-based developer sold the community to a regional operator. The buyer, which has partnered with an institutional capital provider, plans to implement improved marketing efforts and complete the lease-up of the property.  Daniel Geraghty and Bradley Clousing of SLIB represented the seller in the transaction. 

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DevelopmentIndependent LivingMassachusettsNews

Elksy Development Completes 147-Unit Independent Living Community Near Boston

by Hayden Spiess

WEYMOUTH, Mass. — Elksy Development has completed the construction of and opened Cornerstone of Weymouth, a new independent living community located in Weymouth, roughly 15 miles south of Boston.  Architecture and design firm Meyer designed the building, which totals 154,962 square feet with 147 units. Amenities at the community include a theater room, game room, library, salon, fire pit, pickleball court, bocce court, outdoor grills and gardening beds. The property features three dining venues, including a coffee bar, pub and full-service restaurant.  Sona Senior Living will operate the community on behalf …

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AcquisitionsIndependent LivingMemory CareMinnesotaNewsSkilled Nursing

Vivie Adds Northfield Retirement Community to Portfolio 

by Hayden Spiess

NORTHFIELD, Minn. — Vivie has acquired Northfield Retirement Community in Northfield. Opened in 1969, the community offers a full continuum of care, including independent living, assisted living, memory care, skilled nursing and rehabilitation. Vivie’s portfolio comprises 34 communities, as well as several home health and hospice offices. In addition to its senior living communities, Vivie — formerly Knute Nelson and Walker Methodist — provides home health care, care management, rehabilitation and hospice across Minnesota, North Dakota and Wisconsin.

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AcquisitionsAssisted LivingIndependent LivingMemory CareNewsOperationsPennsylvania

Legend Senior Living Takes Partial Ownership of Community Near Philadelphia

by Hayden Spiess

KING OF PRUSSIA, Pa. — Legend Senior Living has taken partial ownership of Anthology Living, a seniors housing community located in King of Prussia, roughly 20 miles outside Philadelphia. Effective immediately, the community — which offers independent living, assisted living and memory care residences — will be known as Revelle King of Prussia.  Legend will also operate community. This brings the Wichita, Kansas-based company’s portfolio to a total of 65 owned and/or operated communities in Florida, Colorado, Texas, Kansas, Oklahoma and Pennsylvania.  Amenities at Revelle King of Prussia include a fitness …

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Assisted LivingFinanceIndependent LivingMemory CareMichiganNews

Walker & Dunlop Arranges $25.9M Permanent Financing for Community Near Grand Rapids

by Hayden Spiess

WYOMING, Mich. — Walker & Dunlop has arranged $25.9 million in permanent financing for Rivertown Ridge, a seniors housing community located in Wyoming, roughly 5 miles outside Grand Rapids.  The 10-year, fixed-rate Fannie Mae loan features three years of interest-only payments. Mary Stuart Hurst and Russell Dey of Walker & Dunlop secured the financing through Inner Circle Holdings on behalf of the borrower, Redstone Group Management Inc.   Rivertown Ridge, which was built in 2019 as part of a master-planned community, features 152 units, with independent living, assisted living and memory care …

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AcquisitionsAssisted LivingCompany NewsIndependent LivingMemory CareNewsOhioTexas

Welltower Agrees to Acquire NorthStar Healthcare Income for $900M

by Hayden Spiess

TOLEDO, Ohio and HOUSTON — An affiliate of Welltower Inc. (NYSE: WELL) has entered into an agreement to acquire NorthStar Healthcare Income Inc., a public, non-traded REIT that owns a diversified portfolio of seniors housing properties throughout the United States, for roughly $900 million.  Toledo-based Welltower will take ownership of NorthStar Healthcare’s portfolio of 40 seniors housing communities in the acquisition. Founded in 2010, Houston-based NorthStar Healthcare’s portfolio includes independent living, assisted living and memory care properties.  “We expect that this portfolio will serve to further enhance our regional densification …

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AcquisitionsFloridaIndependent LivingMemory CareNews

JLL Arranges Sale of 45-Acre Campus in Wellington, Florida

by Hayden Spiess

WELLINGTON, Fla. — JLL Capital Markets has arranged the sale of Wellington Bay, a 45-acre senior living campus located in Wellington, roughly 55 miles northwest of Fort Lauderdale.  Totaling 283 units, the property features a 159-unit independent living community and The Lisbet Health Center, which comprises 124 assisted living and memory care residences. Amenities at the campus include a 65,000-square-foot clubhouse with dining, outdoor and indoor pools, a hot tub, putting green, bocce court, pickleball court and fitness, wellness, concierge, arts and entertainment programming.  AEW Capital Management acquired the property from …

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Assisted LivingDevelopmentIndependent LivingMemory CareNewsVirginia

Beth Sholom Village Opens Aviva Pembroke Community in Virginia Beach, Virginia

by Hayden Spiess

VIRGINIA BEACH, Va. — Owner-operator Beth Sholom Village has opened Aviva Pembroke, a new community located in Virginia Beach adjacent to the Pembroke Square shopping mall. Pembroke Realty Group developed the property on behalf of Beth Sholom Village.  Totaling 153 units, the community features 121 independent living, 20 assisted living and 12 memory care residences.  Amenities at the property, which was designed by Kahler Slater, include a pool, fitness center, bistro, community room and a meditation and prayer room. Outdoor amenities include a deck, rooftop lounge and terrace, pickleball courts, putting …

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Assisted LivingFinanceFloridaIndependent LivingMemory CareNews

Marathon Provides $154.5M Refinancing for Senior Living Portfolio in Florida

by Hayden Spiess

NEW YORK CITY — Marathon Asset Management has provided a $154.5 million mortgage loan for the refinancing of a senior living portfolio, The American House Florida Portfolio, located in Florida. A joint venture between Monarch Alternative Capital and REDICO is the borrower.  Totaling 817 units, the portfolio comprises six communities offering 40 independent living, 306 assisted living and 102 memory care residences. The communities were built between 2015 and 2018.  According to a press release issued by New York-based Marathon, each of the properties is located in a Florida market currently …

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