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 …
Independent Living
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 …
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Webinar: Tips for How Operators Can Thrive in the Evolving Seniors Living Market
On July 23, Seniors Housing Business hosted a panel discussion called “Tips for How Operators Can Thrive in the Evolving Seniors Living Market” where four seniors housing industry experts joined to talk about how they are addressing COVID-19 challenges, adapting and promoting communities in spite of obstacles. Click here to watch this engaging webinar. The seniors housing world has shifted dramatically in the past few months, explains Steve Lampa, Founding Parter at Kensington Living, a Washington D.C.-based operator. “The number of leads is definitely down, but on the other hand a lot …
KLAMATH FALLS, Ore. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 56-unit independent living community in Klamath Falls, located in the southern part of the state near the California border. The buyer is a regional owner-operator that plans to reposition the asset as an affordable option. The seller was not disclosed.
Discovery Senior Living to Complete Multi-Million-Dollar Renovation of Indianapolis Community
by Jeff Shaw
INDIANAPOLIS — Discovery Senior Living has unveiled plans for a multi-million-dollar capital investment and renovation of Discovery Commons at College Park, a 116-unit independent living community located in Indianapolis. The multi-phase project will include interior and exterior improvements. The initial phase will include new seating and gathering areas, including an upgraded lobby. Interior enhancements will also include renovated bathrooms, new flooring, lighting, furniture and décor as well as a new color palette. The initial phase is underway with completion slated for late summer. The second phase calls for a renovation …
TRINITY, Florida — Cushman & Wakefield’s Tampa-based Senior Housing Team has arranged the sale of The Watermark at Trinity in the Tampa suburb of Trinity. Kayne Anderson Real Estate acquired the community for an undisclosed price. The operator, Watermark Retirement Communities, will continue to manage the property. The five-story community features 117 units of independent living and was recently completed. The property is adjacent to a 97-unit assisted living and memory care building constructed by the same development team in 2016. The Cushman & Wakefield team led by Allen McMurtry …