Tuesday, December 3, 2024
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Memory Care

HarborChase Wellington Crossing in Wellington, Florida
AcquisitionsAssisted LivingFloridaMemory CareNews

JLL Capital Markets Brokers Sale of HarborChase Wellington Crossing in South Florida

by Channing Hamilton

WELLINGTON, Fla. — JLL Capital Markets has brokered the sale of HarborChase Wellington Crossing, a 134-unit, Class A seniors housing community in Wellington, located about 15 miles southwest of West Palm Beach. A partnership between Scarp Ridge Capital Partners and Walton Street Capital acquired the community and selected Agewell Solvere Living as the operator. The buyer has also rebranded the property, which now operates under the name Alamar Senior Living. The name of the seller was not disclosed. Completed in late 2018, HarborChase Wellington Crossing consists of 76 assisted living units and 58 memory care units. …

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Thrive at Montvale in Montvale, New Jersey
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Mesa West Capital Provides $57M Loan to Refinance Senior Living Community in Northern New Jersey

by Channing Hamilton

MONTVALE, N.J. — Mesa West Capital has provided a joint venture entity with a $57 million loan to refinance Thrive at Montvale, a 203-unit seniors housing community in Montvale, an affluent New York City suburb located 30 miles north of the city. The joint venture is comprised of AEW Capital Management, Thrive Senior Living and Pike Construction. The five-year, floating-rate loan is secured by the 11.5-acre community built in 2022 by Thrive, an Atlanta-based senior living development and investment firm, and Pike, a New Jersey-based developer and general contractor. Thrive at Montvale is …

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The Goldton at Venice in Nokomis, Florida
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Upscale Senior Living Community Near Sarasota, Florida, Shelters 200 Hurricane Evacuees

by Channing Hamilton

NOKOMIS, Fla. — The Goldton at Venice — a seniors housing community located in Nokomis, roughly 20 miles south of Sarasota — recently sheltered 200 individuals during Hurricane Milton. Located in a non-flood zone approximately two miles from Sarasota Memorial Hospital, the community hosted staff, family members and loved ones of residents and evacuees from Venice Island and flood zones. Hurricane Milton made landfall Wednesday, Oct. 9, with most of the guests departing the community by the following Friday, Oct. 11. Totaling 167 apartments, The Goldton at Venice offers 114 independent …

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Sonoma House Assisted Living in Carrollton, Texas
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ESI Brokers $9.2M Sale of Sonoma House Assisted Living in Carrollton, Texas

by Channing Hamilton

CARROLLTON, Texas — Evans Senior Investments (ESI) has arranged the $9.2 million sale of Sonoma House Assisted Living, a 96-unit community in Carrollton, located about 20 miles northwest of Dallas. The buyer was Jaybird Senior Living, an owner-operator based in Cedar Rapids, Iowa. This acquisition marks the company’s first venture into the Texas market. Sonoma House had been a family-owned and operated nonprofit community since its establishment in 2014. Known for its residential-style environment, the community consists of 33 assisted living units and 63 memory care units spread across seven …

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An undisclosed community in Silverdale, Washington
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Live Oak Bank Provides $47.5M Bridge Loan for Seniors Housing Community in Metro Seattle

by Channing Hamilton

SILVERDALE, Wash. — Live Oak Bank has provided a $47.5 million bridge loan for the financing of an undisclosed seniors housing community located in Silverdale, roughly 25 miles northwest (approximately 70 miles by vehicle) of Seattle. Built in 2022, the property comprises 172 independent living, assisted living and memory care units. The borrower is a Florida-based owner of seniors housing communities. The financing features a three-year initial term and 24 months of interest-only payments. Loan proceeds were used to retire the existing debt, with $4 million in potential future earnout proceeds.

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HarborChase of Wilmington in Wilmington, Delaware
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JLL Brokers $45M Sale of Luxury Seniors Housing Community in Delaware

by Channing Hamilton

WILMINGTON, Del. — JLL Capital Markets has arranged the $45 million sale of HarborChase of Wilmington, a luxury 96-unit assisted living and memory care community in Wilmington, roughly 30 miles southwest of Philadelphia. JLL represented the seller, a private equity firm, in the transaction. Harbor Retirement Associates will continue to manage the community for the buyer, a publicly traded real estate investment trust.  Originally constructed in 2018, HarborChase of Wilmington is one of the newest seniors housing communities in the state of Delaware and is the newest facility in its primary market by …

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Post acute care technology trends quote Matrixcare
Assisted LivingCCRCContent PartnersFeaturesIndustry ContentMemory CareOperationsSkilled NursingTechnology

New Technology, Electronic Health Records Solve Problems in Post-Acute Care

by Sarah Daniels

Changing Medicare requirements for risk-based programs are putting new pressure on seniors housing operators and skilled nursing facilities that provide post-acute care (PAC) to people recently released from hospitals. Standards for the quality of care are becoming stricter just as innovations in record keeping, data analysis, voice recognition technology and smart room sensors are maturing. These new technologies — including many powered by artificial intelligence (AI) — combined with electronic health records (EHRs) can help operators adapt to the enormous changes coming to the seniors housing business. “We really put …

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Assisted LivingFinanceMemory CareMichiganNews

Bayview PACE Provides $4.3M in C-PACE Funds for Seniors Housing Property in Metro Detroit

by Channing Hamilton

TAYLOR, Mich. — Bayview PACE has provided $4.3 million in commercial property-assessed clean energy (C-PACE) financing for the 81-unit Hampton Manor of Taylor seniors housing community, located about 17 miles southwest of Detroit. The sponsor was Build Senior Living, the development arm of Hampton Manor Assisted Living. The 81-unit Hampton Manor of Taylor is situated on a six-acre landscaped site that includes 60 parking spaces. Licensed for 102 beds, Hampton Manor-Taylor features 65 assisted living units and 16 memory-care units with extra capacity for second persons and/or additional companion units.  …

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Modena Reserve in Washington, D.C.
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Mesa West Provides $114M in First-Mortgage Debt to Refinance Two Seniors Housing Communities in suburbs of Philadelphia, Washington, D.C.

by Channing Hamilton

MALVERN, Pa., and KENSINGTON, Md. — Mesa West Capital has provided AEW Capital Management LP with $114.6 million in first-mortgage debt across two loans to refinance the seniors housing communities of Echo Lake in Malvern and Modena Reserve at Kensington in Kensington. Terms of the loans were not disclosed. AEW delivered the 250-unit Echo Lake to the market in 2020 alongside joint venture partner Sage Senior Living Inc., which operates the community. Located about 27 miles northwest of Philadelphia in Malvern, Echo Lake offers a mix of independent and assisted …

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Monark Grove Greystone in Birmingham, Alabama
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Atlas Senior Living Adds Two Alabama Communities to Management Portfolio

by Channing Hamilton

MADISON and BIRMINGHAM, Ala. — Atlas Senior Living has assumed management of two communities in northern Alabama: Monark Grove Madison in Madison and Monark Grove Greystone in Birmingham. KIRCO, a national commercial real estate development and investment firm based in Troy, Mich., built and owns the communities. KIRCO is also a partner with Atlas at the Legacy Reserve at Fritz Farm community in Lexington, Ky. “Our experience working together in Kentucky has set a high bar, and we look forward to continuing to redefine the senior living experience through our …

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