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Avanti-Hills_Mesquite-Texas
Affordable HousingDevelopmentFinanceNewsTexas

Walker & Dunlop Arranges $30M Financing for Affordable Seniors Housing Project in Texas

by Hayden Spiess

MESQUITE, Texas — Walker & Dunlop has arranged approximately $30 million in financing for Avanti Hills, an affordable seniors housing community currently under development in Mesquite in the Dallas-Fort Worth metro. The project is being developed by a joint venture between KCG Development, The Javelin Group and the Mesquite Housing Finance Corp.  Walker & Dunlop Affordable Housing Equity provided low-income housing tax credit (LIHTC) equity for the project, which is supported by tax-exempt bond financing through the Mesquite Housing Finance Corp. Citi Community Capital and Bank of America are serving as …

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Company NewsNews

RiverGlade Capital Acquires Senior Living Residences

by Hayden Spiess

CHICAGO — RiverGlade Capital Partners has acquired Senior Living Residences (SLR), a Northeast-based seniors housing operator.  Under the new partnership with Chicago-based RiverGlade, SLR will continue to operate under its existing name and leadership team. SLR’s founder, Bob Larkin, will transition to the company’s board of directors as part of the transaction.  Founded in 1990, SLR operates a portfolio of 24 independent living, assisted living and memory care communities in Massachusetts, Connecticut, New Hampshire, New Jersey and Rhode Island.   RiverGlade Capital is a healthcare-focused private equity firm. 

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Company NewsNewsOregonPeople

Anthem Memory Care Promotes Lewis McCoy to President

by Hayden Spiess

WEST LINN, Ore. — Anthem Memory Care has promoted Lewis McCoy to the position of president.  McCoy previously served as chief operating officer for the Oregon-based company, which operates and develops memory care communities in Arkansas, California, Colorado, Illinois, Kansas, Minnesota, New Mexico, Ohio, Tennessee and Wisconsin.  In his new role, he will focus on improving and strengthening Anthem’s infrastructure, capabilities and employee base. According to the company, his key priorities will include operational efficiency, research and development, process improvement and innovation.  McCoy holds a doctorate of philosophy in industrial and …

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Aspire-West-End_Richmond-Va
FinanceIndependent LivingNewsVirginia

Bonaventure Launches $32M DST for Community in Richmond, Virginia

by Hayden Spiess

RICHMOND, Va. — Real estate investment firm Bonaventure has launched Aspire West End DST, a $32 million Delaware statutory trust (DST) offering investors fractional ownership in Aspire West End.  Located in Richmond, Aspire West End totals 148 independent living units. Amenities at the community include an indoor swimming pool, fitness enter, movie theater, salon and spa, art studio, meeting and game rooms, walking paths, outdoor patios, fire pit and gazebo areas, a bistro and private dining rooms.  Bonaventure developed the property in 2018 and has owned and operated the community since …

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FinanceMemory CareNewsTexas

Cambridge Provides $5M HUD-Insured Loan for Memory Care Property in Texas

by Hayden Spiess

IRVING, Texas — Cambridge Realty Capital has provided a roughly $5 million HUD-insured loan for the refinancing of Avalon Memory Care, a memory care property located in Irving.  The borrower is a Texas-based limited liability company. According to Cambridge, the loan was part of a larger $29.7 million loan package to replace mortgage debt on eight communities throughout the Dallas-Fort Worth metro. 

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Arabella-at-Bramble-Hill
Active AdultMassachusettsNews

United Group Opens 123-Unit Active Adult Community in Worcester, Massachusetts

by Hayden Spiess

WORCESTER, Mass. — The United Group of Cos. has opened The Arabella at Bramble Hill, its new active adult community in Worcester.  Residences at the property, which total 123 units, include one- and two-bedroom apartments reserved for adults age 55 and older. The community features an 8,500-square-foot, with amenities including an indoor golf simulator, yoga studio, indoor swimming pool, theater, pickleball and bocce courts, community gardens, an outdoor kitchen, grilling stations and a dog park.  “This is United Group’s first development project in the area, and it has truly been amazing …

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AcquisitionsAssisted LivingFinanceGeorgiaIndependent LivingMemory CareNews

JLL Arranges $21M Acquisition Financing for Community in Metro Atlanta

by Hayden Spiess

STOCKBRIDGE, Ga. — JLL Capital Markets has arranged $21 million in financing for the acquisition of a senior living community located in Stockbridge, roughly 20 miles southeast of downtown Atlanta. An entity doing business as 1031 CF Properties is the borrower.  Old Second National Bank provided the loan.  Built in 2022, the property, Oaks at Eagle’s Landing, totals 122 units, with independent living, assisted living and memory care residences. Amenities at the community include a fitness center, library, salon, bar, art studio, game room, cards and billiard room, movie theater, courtyard, …

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Meridian-at-Brandon_Brandon-Fla
Assisted LivingFinanceFloridaMemory CareNews

Live Oak Bank Provides $20.5M Refinancing for Community Near Tampa

by Hayden Spiess

BRANDON, Fla. — Live Oak Bank has provided $20.5 million in refinancing for The Meridian at Brandon, a senior living community located approximately 15 miles east of Tampa.  A joint venture between Madison Marquette and Meridian Senior Living owns the property. The Meridian at Brandon totals 136 assisted living and memory care units.   

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David-Coster
Company NewsNewsNorth CarolinaPeople

Cline Appoints David Coster Director of Seniors Housing

by Hayden Spiess

RALEIGH, N.C. — Cline has appointed David Coster to the newly created position of seniors housing sector director. In his new role, Coster will lead efforts to expand the architecture and design firm’s senior living capabilities and market presence throughout the U.S.  Coster, who has 30 years of experience in the healthcare, financial services and real estate industries, most recently served as vice president of development at Retirement Living Associates.  “David’s extensive experience in senior living development combined with his broad leadership background makes him exceptionally well suited to lead Cline’s …

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Winsberg-Green-Cay_Boynton-Beach-Fla
CCRCDevelopmentFloridaNews

Florida Nonprofit Breaks Ground on $380M CCRC in Boynton Beach

by Hayden Spiess

BOYNTON BEACH, Fla. — Green Cay Life Plan Village Inc., a nonprofit corporation, has broken ground on a continuing care retirement community (CCRC) project in Boynton Beach, approximately 30 miles north of Fort Lauderdale. The Winsberg at Green Cay will mark the first new CCRC in the county since 2016.  Upon completion, the project — which was first announced in 2022 — will span 15 acres. The community will total 220 residences in a 510,000-square-foot building, with 189 independent living units and 32 assisted living and memory care units. Amenities will include …

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