LITTLE ROCK, Arkansas — Resort Lifestyle Communities has opened Chenal Pines, a new retirement community in Little Rock. The community offers 128 independent living apartments in a mix of one-, two- and three-bedroom layouts. “Our research indicated there was a significant need for additional independent senior living communities in the Little Rock area,” says Phil Benjamson, COO of Resort Lifestyle Communities.
Independent Living
During this unprecedented time, marketing and sales professionals must continue to connect and engage with prospects, both existing and new. This webinar features panelists discussing what COVID-19 has meant for the seniors housing sector and strategies for effective marketing despite social distancing, shelter-in-place, and quarantine situations. Learn what alternate lead-generation options are available to continue to work toward 2020 sales and marketing goals. Hear what strategies industry peers are incorporating to manage through this time of uncertainty. Expert panelists weigh in with advice and helpful information about what industry professionals …
HOUSTON — JLL Capital Markets has arranged both the sale of and financing for The Gardens at Spring Shadows, a 384-unit independent living community in Houston’s Spring Branch submarket. JLL served as the seller’s listing agent. Additionally, JLL’s debt placement team worked on the new owner’s behalf to arrange a three-year, floating-rate loan with two one-year extension options through Ready Capital. In addition to funding the acquisition, the balance of the loan will be used for the rehabilitation of the property. The Gardens at Spring Shadows sits on 11.4 acres. …
M&T Provides $26.4M Acquisition Financing for Independent Living Community in Indianapolis
by Jeff Shaw
INDIANAPOLIS — M&T Realty Capital Corp. has provided a $26.4 million bridge loan for the acquisition of an 811-unit independent living property in Indianapolis. The financing features 80 percent loan-to-value ratio, a two-year term, a fixed rate of 4.7 percent and full-term interest-only payments. John Taylor of M&T Realty Capital’s Florham Park, New Jersey, office led the transaction. The buyer, seller and name of the community were not disclosed.
ARLINGTON, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of Greenfield Residences of Arlington, an independent living community in Arlington, between Dallas and Fort Worth. The property was built in 2002 and totals 128,496 square feet on 5.8 acres. The community features 24 studio units, 130 one-bedrooms and 24 two-bedrooms. A publicly traded investor sold the property to an owner-operator from the Dallas-Fort Worth area for $12.5 million. SLIB marketed the sale as a value-add opportunity, as the community was only 67 percent occupied at the time …
BRIDGEWATER, N.J. — LCS has unveiled plans for an $8 million revitalization of Laurel Circle, an independent living community in Bridgewater, approximately 40 miles southwest of Manhattan. The community’s wellness center will see some of the most dramatic changes, according to LCS, including new gym equipment. In addition, LCS will add a new outpatient clinic to provide more health services. The plan also calls for upgrades to the community’s salon and lobby.
GILBERT, Ariz. — Green Courte Partners has acquired The Aspens at Mariposa Point, a 202-unit seniors housing property in Gilbert, just southeast of Phoenix. Despite only being opened last month, the new owner will convert the active adult community into full-service independent living. The conversion project will include expanding the dining area, modifying the existing kitchen and adding a third-party-operated home health office. Green Courte’s wholly owned operator True Connection Communities will manage the property. Green Courte made the acquisition through its fourth investment fund, Green Courte Real Estate Partners …
Resort Lifestyle Communities Plans Groundbreaking for $30M Independent Living Community Near Salt Lake City
by Jeff Shaw
SOUTH JORDAN, Utah — Resort Lifestyle Communities (RLC) plans to break ground Wednesday, Feb. 19, on South Jordan View, an independent living community in South Jordan, a suburb of Salt Lake City. Units will be available in studio, one-, two- and three-bedroom options. The community will total 180,000 square feet and development costs are estimated at $30 million. The total number of units and timeline for completion were not released.
Resort Lifestyle Communities Opens Deerfield Springs Independent Living Near Cincinnati
by Jeff Shaw
LOVELAND, Ohio. — Resort Lifestyle Communities has opened Deerfield Springs, an independent living community in the Cincinnati suburb of Loveland. The property features 128 apartments in studio, one-, two- and three-bedroom layouts. “From our research, we found that Cincinnati’s metro was in great need of additional independent senior living options,” says Phil Benjamson, COO of Resort Lifestyle Communities.