KING CITY, Ore. — JLL Capital Markets has arranged the sale of King City Senior Village in King City, a suburb of Portland. Focus Healthcare Partners soled the property to Livingston Street Capital for an undisclosed price. King City Senior Village is a 114-unit independent living property consisting of two living options: duplex cottages and traditional apartments. The community was built in 1986 and underwent significant renovations in 2018. The JLL Capital Markets team representing the seller includes Cody Tremper, Mike Garbers and Dean Ferris. “The property is standalone independent …
Independent Living
Dallas Retirement Village Starts Construction of 29-Unit Independent Living Expansion in Oregon
by Jeff Shaw
DALLAS, Ore. — Dallas Retirement Village, a seniors housing community in the Salem suburb of Dallas, has started construction of its Phase II expansion, known as Lodge Residences. The 60,000-square-foot project will complete the circle around the existing courtyard, adding 29 independent living apartments, an indoor pool, spa, fitness facilities and more. “Phase 1 was completed four years ago. Since then, we’ve continued to build a waiting list,” says Dave Parrett, the community’s executive director. “Having more apartments will make us more accessible to local seniors who would like to …
Inspired Living Launches Independent Living Brand with Inspirations at the Town Center in Jacksonville
by Jeff Shaw
JACKSONVILLE, Fla. — Inspired Living has started construction of Inspirations at the Town Center, the company’s first independent living community, in Jacksonville. Situated on 12.1 acres, the 227,000-square-foot building will feature a total of 169 apartments. Units will feature one- and two-bedroom options up to 1,200 square feet. The Inspired Living brand is the new independent living branch of Validus Senior Living Communities. Baxter Development is a partner on the project, which is scheduled for delivery in fall 2021.
Truist Provides $42.4M in Financing for Hillcrest CCRC Expansion in La Verne, California
by Jeff Shaw
LA VERNE, Calif. — Truist Financial Corporation has provided $42.4 million in financing for Hillcrest, a continuing care retirement community (CCRC) in La Verne, approximately 30 miles east of Los Angeles. The funding will be used to refinance existing debt and support the construction of a new independent living area, named Hawthorne Homes. The 24,000 square-foot development will consist of 14 one-floor cottage and duplex units located on a 1.4-acre parcel on Hillcrest’s 50-acre campus. The new construction includes several environmentally friendly and sustainable features, including solar energy, rainwater reclamation, …
In a September 17 Seniors Housing Business webinar: How the Pandemic, Baby Boomers, and Technology are Changing the Senior Living Business, panelists discussed how the senior living industry is shifting. Wellness trends, including specialized diets like Paleo and Keto, are increasingly requested by residents and their adult children — and the requests are anticipated to grow as more Baby Boomers move into seniors housing residences. New uses for health-related technology, such as real-time data collection, show promise in terms of improving resident health and preventing hospital stays. Technology is also changing …
SOUTHFIELD, Mich., and CHARLOTTE, N.C. — A national survey of independent living community residents, staff and prospective residents showed that those in the community overwhelmingly felt safe so far during the COVID-19 pandemic. Additionally, respondents said they were confident that communities had taken appropriate precautions to keep them safe. Plante Moran Living Forward, the Southfield-based senior living development consulting division of Plante Moran Cresa and an affiliated entity of Plante Moran, partnered with Retirement Dynamics, a Charlotte-based senior living consulting firm, to complete the research. In June and July of …
OVERLAND PARK, Kan. — Village Shalom, a continuing care retirement community in the Kansas City suburb of Overland Park, has opened a four-story apartment building at the property. The 76-unit independent living building is part of a $42 million expansion project. The full project, which broke ground approximately two years ago, already added 48 memory care units, and 24 rehabilitation suites are currently under construction. In addition to the new independent living units, the completed building includes a first-floor amenity corridor named Main Street.
Resort Lifestyle Communities Plans $30M Greenway Square Independent Living Community in South Carolina
by Jeff Shaw
INDIAN LAND, S.C. — Resort Lifestyle Communities (RLC) has planned an Oct. 1 groundbreaking ceremony for Greenway Square, an independent living community in Indian Land, located across the North Carolina border from Charlotte. The $30 million, 180,000-square-foot community is the fourth RLC location in South Carolina.
Ziegler Arranges $70M Bond Financing for Acquisition of University Village CCRC in Tampa
by Jeff Shaw
TAMPA, Fla. — Ziegler has arranged $70 million in bond financing for Tampa Life Plan Village to expand by acquiring the independent living units of University Village, a nearby continuing care retirement community (CCRC). The acquisition will include 445 independent living apartments, 46 independent living villas, the associated common areas and 32 acres of land. The health center, which features assisted living and skilled nursing units, was not included in the transaction. The seller is Westport Holdings Tampa. The United States Bankruptcy Court for the Middle District of Florida and …
NORTH STRABANE TOWNSHIP, Pa. — HJ Sims has arranged $29.3 million in financing for the development of Encore on the Lake, an 80-unit independent living community in North Strabane Township, approximately 20 miles southwest of Pittsburgh. Presbyterian Senior Care (PSC) is developing the four-story community, which will target middle-income residents. Companies involved in the project include Senior Housing Partners, a subsidiary of Presbyterian Homes & Services. For this financing, Sims identified commercial bank financing as the preferred option for the majority or the financing. The main lender is First National Bank …