DOUGLAS, Wyo. — Senior Living Investment Brokerage (SLIB) has brokered the sale of Douglas Care Center and Mountain Lodge, a senior living and skilled nursing facility located in Douglas. The facility totals 74 units with 96 beds across two adjacent properties, with assisted living, memory care and skilled nursing offerings. Originally built in 1968, Douglas Care Center was renovated in 2010. Mountain Lodge was developed in 2018. Vince Viverito and Jason Punzel of SLIB arranged the transaction.
DALLAS — Lument Real Estate Capital has arranged a $33.6 million Freddie Mac loan to facilitate the construction of a new affordable seniors housing development in Dallas. The borrowers are DHA Housing Solutions of North Texas and Volunteers of American National Services (VOANS). Tracy Peters and Dale Giffey of Lument led the transaction. In addition to the $33.6 million Freddie Mac Tax-Exempt Loan (TEL), Lument Securities provided bond underwriting services for $45.6 million in tax-exempt cash collateralized bonds. The total project cost is $96.7 million. Upon completion, the property, dubbed The …
CEDAR GROVE, N.J. — Benchmark Senior Living has announced plans to open a new community in Cedar Grove, roughly 20 miles northwest of New York City. Upon completion, the property — dubbed Benchmark at Cedar Grove — will total 138 apartments, with independent living, assisted living and memory care units. Situated on 5.5 acres, the building will comprise 145,000 square feet. Amenities at the community will include multiple dining venues, a pub/bistro, arts and activity spaces, a sports lounge, two hair salons, a wellness center and exterior courtyards. Benchmark is developing …
AUSTIN, Texas and BEAVERTON, Ore. — Clearwater Living has added two new seniors housing communities to its management portfolio. Now operating as Clearwater Beaverton (formerly Anthology of Beaverton) and Clearwater at The Arboretum (formerly Anthology of The Arboretum), the properties are located in Beaverton, Oregon, and Austin, Texas, respectively. Clearwater at The Arboretum features 130 assisted living and memory care units in studio, one- and two-bedroom floorplans. Amenities at the community include a restaurant, bistro, fitness center, arts and crafts room, salon, theater, game room, outdoor courtyards and rooftop terraces. Clearwater …
PARAMUS, N.J. — Brightview Senior Living will develop a new, 332-unit community in Paramus. Construction on the project is scheduled to begin this month. Upon completion, Brightview Joy’s Farm will total 55,192 square feet, with 162 independent living units and a separate, 170-unit assisted living and memory care facility. Amenities at the property will include a clubhouse, swimming pool, fitness and entertainment venues and covered parking garages. The project team includes general contractor IMC Construction, Market Square Architects and T&T Construction Management Group, which is handling the specialty concrete construction. The …
ANAHEIM HILLS, Calif. — JCH Senior Housing Investment Brokerage has arranged the sale of an assisted living and memory care facility located in the Inland Empire region of Southern California. A local operator acquired the property for $14.1 million. Licensed for 100 beds, the facility features 86 units. Cindy Hazzard and Jim Hazzard of Anaheim, California-based JCH represented both the buyer and seller in the transaction.
By Hayden Spiess DALLAS — Even those in their golden years are not immune to climbing rates of marriage dissolution. The divorce rate among couples wherein one of the spouses is age 50 or older — a phenomenon sometimes termed a “gray divorce” — has risen to 40 percent, according to data from the National Investment Center for Seniors Housing & Care (NIC). Though a bleak statement on the marital landscape, this fact has been one of the elements bolstering occupancy within the growing active adult subsector of seniors housing, says Caroline …
MINNETONKA, Minn. — Senior living developer, owner and operator New Perspective has acquired five communities in Minnesota. Each of the properties, all of which offer assisted living and memory care residences, is located within the Minneapolis-St. Paul metro. The communities will now be operated as New Perspective White Bear Lake, New Perspective Oakdale, New Perspective Golden Valley, New Perspective Rosedale and New Perspective Minnetonka. Amenities at the properties include communal spaces, wellness and recreational programs and chef-prepared meals.
CHERRY HILL, N.J. — Procida Funding & Advisors has secured a $140 million loan for the completion of the development of The Plaza Grande, a new active adult community currently underway in Cherry Hill. Madison Realty Capital and Pearlmark provided the financing. Madison Realty Capital also provided a construction loan for the project in 2021. Upon completion, The Plaza Grande will comprise 507 units for residents age 55 and older. Amenities at the community, which will feature an 18,500-square-foot clubhouse, will include indoor and outdoor pools, tennis courts, pickleball courts, theaters, …
MIAMI — Investment firm Locust Point Capital, which operates exclusively in the seniors housing and care sector, has closed its Locust Point Private Credit Fund III with $668 million in total capital commitments. This marks a 56 percent increase over raise of the firm’s predecessor vehicle, which closed at $428 million. According to Locust Point, Fund III will continue to execute the firm’s core strategy, which includes providing structured credit solutions to owner-operators of seniors housing communities. “Having invested in the seniors housing industry for more than three decades, I believe …
