ANAHEIM, Calif. — Kisco Senior Living has announced the memory care expansion at Emerald Court in Anaheim is scheduled to open within the next two weeks. The all-new memory care section, named Connections, will include 16 studio apartments, a private courtyard, a musical lounge and updated dining configurations. “Before this addition, we would have to transition out our seniors who started developing cognitive issues since we did not have the facilities to care for them,” says Libbi Hash, national director of wellness and memory care for Kisco. “Now that we …
OVERLAND PARK, Kan. — Anthem Memory Care has named Dave Norton as the executive director of Morningside Place, a memory care community in Overland Park. He will oversee all care, operations and programming. Norton previously was administrator/executive director of nearby Rolling Hills Health & Rehab. His career includes two decades of managerial experience in the medical equipment and diagnostics fields. A graduate of the University of Kansas, Norton is a licensed respiratory therapist as well as a licensed nursing home administrator.
PORTLAND, Ore. — Cushman & Wakefield’s Senior Housing Capital Markets team has arranged the off-market sale of a 99-unit,114-bed memory care community in a Portland for $25 million. This represents the second sale of the community within a 15-month period for the firm, with the first sale as part of a larger portfolio disposition of non-core assets for a public REIT. The seller was a privately owned, California-based national operator. The buyer is a growing regional owner-operator based in the Portland metro area. The Cushman & Wakefield team involved in …
TARPON SPRINGS, Fla. — Live Oak Bank has provided a $12.3 million refinancing for Watercrest Senior Living. The bridge-to-permanent loan will refinance debt on Market Street East Lake, a seniors housing community in Tarpon Springs, a coastal suburb of Tampa. East Lake is a 64-unit standalone memory care community that opened in March of 2018. The 45,960-square-foot property sits on 3.4 acres of land. Lument advised Watercrest in the transaction.
CHANHASSEN, Minn. — JLL Capital Markets has negotiated the $5.5 million sale of Olive Branch Estates in Chanhassen, a suburb of Minneapolis. The 24-unit, 28-bed memory care facility was constructed in 2015. The one-story property sits on 4.6 acres. John Klement of JLL represented the seller, a private owner and operator. The buyer, a limited liability company, has retained Elysian Senior Homes to operate the community. The sales price represents a capitalization rate of 8.75 percent.
CENTRAL FLORIDA — Berkadia’s Seniors Housing & Healthcare Group has arranged $5.2 million in financing for six memory care facilities in Central Florida. The transaction refinances 36 memory care units across six six-unit residential homes situated in two counties. Berkadia processed the transaction as a scattered-site loan under HUD’s 232/223(f) program. The 34-year term loan represents a 60 percent loan-to-value ratio and a debt load of $143,300 per bed. Ed Williams secured the financing on behalf of the California-based sponsor. Further details on the properties were not disclosed.
HOUSTON — Heavenrich & Co. has arranged the sale of Pathways Memory Care, a 60-unit skilled nursing memory care facility located in Northwest Houston. Pathways was built in 2014 on an 80-acre medical campus that includes the Kelsey Seybold Clinic and Villa Toscana, an 86-unit skilled nursing facility that Heavenrich sold in 2020. StoneGate Senior Living, a national owner-operator sold the property to an undisclosed buyer for an undisclosed price. In preparing for the sale, StoneGate converted the property to private pay, established a new operator and worked with a …
DALLAS — Capital Senior Living Corp. (NYSE: CSU), a Dallas-based seniors housing operator, has launched Magnolia Trails to meet the growing need for individualized programming for residents receiving memory care services. Magnolia Trails evolved out of one of the company’s communities where the local leadership team observed improvements in resident emotional and physical well-being as a result of highly individualized programming. In partnership with internal experts and dementia care consultant and author Rachel Wonderlin, the company applied these best practices to establish the key tenets of Magnolia Trails. Aspects of the …
Nauset, Anthemion Break Ground on 54-Unit Cordwainer Memory Care Community in Norwell, Massachusetts
NORWELL, Mass. — Nauset Construction and Anthemion Senior Lifestyles LLC have broken ground on The Cordwainer, a memory care community in Norwell, approximately 20 miles south of Boston. The community will feature 54 units in a 50,000-square-foot building. “The Town of Norwell is an ideal location for our expansion into the South Shore area,” says Tamilyn Liesenfeld, president and CEO at Anthemion Senior Lifestyles. “There is a strong demand for lifestyle communities for adults with Alzheimer’s and dementia who need personal supportive services that provide safe, independent living.” Designed by …
AUSTINTOWN, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Victoria House in Austintown, approximately 10 minutes west of downtown Youngstown. The property features 64 units, totaling 84 licensed beds and 72 operational beds. The community opened in December 2005 and features a secured specialty care wing for residents with Alzheimer’s disease and dementia. Blueprint successfully negotiated a lease of the community several years ago to a regional operator, Continuing Healthcare Solutions, which has now successfully exercised its purchase option to acquire the community.