Memory Care

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Assisted LivingCaliforniaDevelopmentMemory CareNews

Oakmont Senior Living Underway on $33M Development in Greater Los Angeles

by Hayden Spiess

ARCADIA, Calif. — Oakmont Senior Living is currently underway on Ivy Park at Arcadia, a new senior living community located in Arcadia, roughly 20 miles northeast of downtown Los Angeles.  Upon completion, the $33 million development will total 100 units of assisted living and memory care. R.D. OIson Construction is serving as the general contractor for the project. The project team also includes b.hills architecture and STUDIOSIX5. Amenities at the property will include a fitness center with specialized treatment rooms for memory care and mobility support, dining areas, a reading room, …

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DevelopmentFinanceIllinoisMemory CareNews

Cambridge Realty Capital Provides $6M Construction Loan for Addition at Central Illinois Community

by Hayden Spiess

PONTIAC, Ill. — Cambridge Realty Capital has provided a $6 million loan to fund the construction of a memory care addition at The Pointe at Pontiac in central Illinois. The borrower is an Illinois-based limited liability company (LLC).  The Pointe at Pontiac currently comprises 60 beds of supportive living, the Illinois version of Medicaid Waiver assisted living. The State of Illinois provides Medicaid funding to seniors age 65 and older who would otherwise not have the resources to reside in an assisted living facility.  In addition to the new memory care …

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AcquisitionsAssisted LivingCaliforniaMemory CareNews

Berkadia Brokers Sale of 135-Unit Community on San Francisco Bay

by Hayden Spiess

SAN MATEO, Calif. — Berkadia has brokered the sale of Atria Park of San Mateo, a 135-unit assisted living and memory care community located in San Mateo on the western shores of San Francisco Bay.  A partnership between Shelter Real Estate Investment Properties and Calson Management acquired the property for an undisclosed price. The community will be rebranded as Harbor at Hillsdale.  Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders of Berkadia arranged the transaction on behalf of the undisclosed seller. 

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AcquisitionsAssisted LivingMemory CareNew YorkNews

SLIB Arranges Sale of 113-Unit Assisted Living, Memory Care Community in Western New York

by Hayden Spiess

LOCKPORT, N.Y. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Briarwood Manor, a 113-unit, 160-bed assisted living and memory care community located in Lockport, roughly 30 miles northeast of Buffalo.  Originally opened in 1982, the property was 44 percent occupied at the time of marketing. The memory care wing was added in 2017.  A private owner exiting the seniors housing market was the seller. A private real estate investor acquired the community for an undisclosed price. Dave Balow, Dan Geraghty and Ryan Saul of SLIB brokered the transaction …

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AcquisitionsAssisted LivingMemory CareMissouriNews

Berkadia Brokers Sale of Three Communities in Metro St. Louis 

by Hayden Spiess

ST. LOUIS — Berkadia has brokered the sale of three seniors housing communities located in metro St. Louis. Berkadia arranged the transactions on behalf of the seller, a private equity firm that developed the properties.  The communities include The Grande at Creve Coeur in Creve Coeur, roughly 15 miles northwest of St. Louis; The Grande at Laumeier Park in Sunset Hills, approximately 15 miles southwest of St. Louis; and The Grande at Chesterfield in Chesterfield, about 20 miles west of St. Louis.  The Grande at Creve Coeur, a 53-unit memory care …

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AcquisitionsAssisted LivingCaliforniaFinanceMemory CareNews

BMO Healthcare Real Estate Provides Acquisition Financing for 156-Unit Belmont Village Community in California

by Hayden Spiess

ALISO VIEJO, Calif. — BMO Healthcare Real Estate has provided financing for the acquisition of Belmont Village Aliso Viejo in Aliso Viejo. Harrison Street Asset Management is the borrower.  Opened in 2019, the Southern California community totals 156 assisted living and memory care units. Belmont Senior Living developed and operates the property.  Harrison Street currently has more than $108 billion in assets under management. 

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Assisted LivingFinanceMemory CareNewsTexas

Berkadia Secures $30M Financing for Two Communities in Texas

by Hayden Spiess

AUSTIN, Texas — Berkadia has secured $30 million for the refinancing of two assisted living and memory care communities located in Texas. Austin, Texas-based Journeyman Group is the borrower.  The financing includes two seven-year, floating-rate Freddie Mac loans.  Garrett Sacco, Austin Sacco, Steve Muth and Alec Rosenfeld of Berkadia arranged the financing on behalf of Journeyman Group. 

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AcquisitionsMemory CareNewsSouth Carolina

SLIB Arranges Sale of 48-Unit Memory Care Community in South Carolina

by Hayden Spiess

LEXINGTON, S.C. — Senior Living Investment Brokerage has arranged the sale of Westminster Memory Care, a 48-unit memory care community located in Lexington, roughly 20 miles west of Columbia, the state capital.  Built in 2020, the community is situated on roughly 6.3 acres, with space for future expansion.  Trinity Investors sold the property to a Southeast-based owner and operator for an undisclosed price. Daniel Geraghty and Bradley Clousing of SLIB brokered the transaction on behalf of the seller. 

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AcquisitionsAssisted LivingCaliforniaMemory CareNews

Sunny Hills Management Co. Acquires 168-Unit Property in Southern California

by Hayden Spiess

CARLSBAD, Calif. — Sunny Hills Management Co. has acquired Laguna Estates Senior Living, a 168-unit seniors housing property located in Carlsbad, an affluent coastal city in southern California. The seller and sales price were not disclosed.  Laguna Estates features a mix of assisted living and memory care units across four buildings. Amenities at the community include an activity room, salon, billiards room, fitness center, movie room, piano room, putting green and swimming pool.  Aaron Rosenzweig and Dan Baker of JLL Capital Markets arranged the sale on behalf of the seller. 

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AcquisitionsAssisted LivingMemory CareNewsVermont

Benchmark, National Development Acquire 80-Unit Community Near Dartmouth College

by Hayden Spiess

WHITE RIVER JUNCTION, Vt. — Benchmark Senior Living and investment, development and management firm National Development have jointly acquired The Village at White River Junction, a seniors housing community located in White River Junction, roughly five miles away from Dartmouth College.  M&T Bank provided financing for the acquisition.  The Village at White River Junction totals 80 units, with assisted living and memory care residences. Amenities at the property include a live performance venue, art gallery, art studio, movie theater, dining venues, community kitchens, a salon and spa, fitness center, conservatory, library …

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