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Touchmark-at-Georgetown
AcquisitionsAssisted LivingIndependent LivingMemory CareNewsTexas

Touchmark Acquires Community in Georgetown, Texas

by Hayden Spiess

GEORGETOWN, Texas — Touchmark has acquired a senior living community located in Georgetown. Touchmark will rebrand the property, which was formerly known as The Hacienda at Georgetown, as Touchmark at Georgetown.  Situated roughly 40 miles north of Austin, the community features independent living, assisted living and memory care options.  Headquartered in Oregon, Touchmark develops, owns and operates properties with a full continuum of care. With this acquisition, Touchmark’s portfolio comprises 16 communities across the U.S. and Canada. 

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CCRCDevelopmentFinanceIndependent LivingKansasNews

Ziegler Secures $53.8M in Bond Financing for CCRC Expansion Project in Kansas

by Hayden Spiess

MANHATTAN, Kansas — Ziegler has secured $53.8 million in bond financing through the City of Manhattan, Kansas, on behalf of Meadowlark, a single-site continuing care retirement community (CCRC).  Situated on 55 acres, Meadowlark currently totals 359 units, with 137 independent living apartments, 50 independent living duplexes and cottages, 38 assisted living apartments and a 134-bed skilled nursing facility that comprises 60 private beds and 74 semi-private beds.  The community was originally developed in 1975. In 2022, Ziegler arranged financing for an expansion of the property. Upon opening, the expansion reached full …

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Community_Brentwood-Tenn
AcquisitionsAssisted LivingMemory CareNewsTennessee

SLIB Negotiates Sale of 100-Unit Community in Metro Nashville

by Hayden Spiess

BRENTWOOD, Tenn. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of a 100-unit assisted living and memory care community located in Brentwood, 10 miles south of downtown Nashville.  Opened in 2022, the property is situated on 6.6 acres and was acquired by an undisclosed REIT. The current operator will remain in place. According to SLIB, 12 offers were submitted throughout the bidding process. Bradley Clousing and Daniel Geraghty of SLIB brokered the sale on behalf of the seller, a Texas-based developer and East Coast-based capital provider. 

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Kristin-Elkjer
Company NewsIllinoisNewsPeople

Evolve Senior Living Appoints Kristin Elkjer Vice President of Operations

by Hayden Spiess

CHICAGO — Third-party seniors housing management company Evolve Senior Living has appointed Kristin Elkjer vice president of operations. Elkjer, who has more than 15 years of senior living leadership experience, previously served as vice president of operations for Jaybird Senior Living. She has also held the roles of regional director of operations for Great Lakes Management, executive director for The Waters, sales director for StuartCo and social services director for the Good Samaritan Society.  “Evolve is positioning for growth in our target Midwest markets, and we are committed to delivering best-in-class …

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Kauhale-Otsego_Otsego-Mich
AcquisitionsAssisted LivingMemory CareMichiganNews

SLIB Arranges $10.6M Sale of Assisted Living, Memory Care Community Near Kalamazoo

by Hayden Spiess

OTSEGO, Mich. — Senior Living Investment Brokerage (SLIB) has arranged the $10.6 million sale of Kauhale Otsego, an assisted living and memory care community located in Otsego, roughly 10 miles north of Kalamazoo and 40 miles south of Grand Rapids.  Constructed in 2016, the property totals 52 units. According to SLIB, the community was 86 percent occupied at the time of sale.  A regional owner acquired Kauhale Otsego from an undisclosed owner and operator. Daniel Geraghty, Bradley Clousing and Matthew Alley of SLIB brokered the transaction on behalf of the seller. 

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Oasis at Aventura
Affordable HousingDevelopmentFloridaNews

Housing Trust Group, AM Affordable Housing Open 95-Unit Community in Miami

by Hayden Spiess

MIAMI — Housing Trust Group (HTG) and AM Affordable Housing have opened Oasis at Aventura, a new affordable seniors housing community in Miami. Totaling 95 units across eight stories, the property was developed for $38 million.  Apartments at the community, which feature a one-bedroom layout, are reserved for residents age 62 and older earning at or below 25, 33 and 60 percent of the area median income. Monthly rental rates range from $555 to $1,369.  Amenities at Oasis at Aventura include a fitness center, community room, library, resident lounge, an outdoor …

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Pelican-Valley-Senior-Living-Modernization-Project_Pelican-Rapids-Minn
DevelopmentMinnesotaNews

Pelican Valley Senior Living Breaks Ground on $8.4M Modernization Project

by Hayden Spiess

PELICAN RAPIDS, Minn. — Non-profit Pelican Valley Senior Living, a senior living provider in Pelican Rapids in western Minnesota, has broken ground on an $8.4 million modernization project at its campus, which features a skilled nursing center, as well as assisted living and memory care communities.  Phase I of the project will renovate part of a former hospital wing to serve as temporary resident housing during construction. The second phase will redevelop 14 resident rooms and expand community areas including dining, therapy, chapel and social spaces.  Wold Architects & Engineers is …

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Company NewsNews

NFP Acquires Hamilton Insurance Agency

by Hayden Spiess

NEW YORK CITY — NFP, a property and casualty (P&C) insurance broker and benefits consultant, has acquired Hamilton Insurance Agency, a P&C broker and benefits administration provider.  Headquartered in Fairfax, Virginia, Hamilton is one of the country’s largest independent insurance brokerage firms and specializes in the seniors housing and long-term care sector. The company has operated for almost 50 years.  Alan Zuccari, founder, president and CEO of Hamilton will serve as chairman emeritus during the transition. Joe Zuccari, vice president of Hamilton, will join NFP as senior vice president. Jason Zuccari …

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FinanceIllinoisNewsSkilled Nursing

MonticelloAM Provides $68M in Financing for Three Skilled Nursing Facilities in Illinois

by Hayden Spiess

NEW YORK CITY — MonticelloAM has provided $68 million in bridge financing for a three-property skilled nursing portfolio located in Illinois.  Loan proceeds will be used the operator of the skilled nursing facilities, which total 746 licensed beds, to refinance existing debt.  Karina Davydov of New York City-based MonticelloAM originated the financing. 

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Investment-Panel_Seniors-Housing-Northeast
FeaturesNews

With High Construction Costs Dampening Development, Value-Add Deals Offer Investment Alternative, Says InterFace Panel

by Hayden Spiess

By Matt Valley PHILADELPHIA — With new development in the seniors housing and care space slowed to a trickle despite strong market fundamentals and pent-up demand, what will it take for the dam to break and release a wave of new construction? Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. The short answer is that there is no silver bullet. There are several financial, operational and market factors that …

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