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Active AdultDevelopmentNewsTexas

ARCTRUST, Edison Equity Break Ground on 175-Unit Active Adult Community in Metro Austin

by Hayden Spiess

DRIPPING SPRINGS, Texas — ARCTRUST Private Capital and Edison Equity Residential have broken ground on Serenova at Dripping Springs, a new active adult community in Dripping Springs, roughly 25 miles southwest of Austin.  Upon completion, the community will total 175 units reserved for residents age 55 and older.  This marks the second community for the partnership’s concierge community concept. Concierge services at the community will include personal assistance with reservations, travel, in-home needs and social planning, according to a press release. Other amenities at the property will include a restaurant and …

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Atria-Newport-Beach_Newport-Beach-Calif
AcquisitionsCaliforniaNews

JLL Arranges Sale, Financing of 168-Unit Community in Southern California

by Hayden Spiess

NEWPORT BEACH, Calif. — JLL Capital Markets has arranged the sale and financing of Atria Newport Beach, a 168-unit senior living community located in Newport Beach.  An institutional investor purchased the property in partnership with the existing operator, Atria Senior Living, which will continue to manage the community. The seller was also an institutional investor. The sales price was not disclosed.  Built in 2021 and 2023, Atria Newport Beach comprises two buildings with 126 independent living and assisted living units and 42 memory care units. Amenities at the community include multiple …

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Coventry-House_Othello-Wash
AcquisitionsNewsWashington

Marcus & Millichap Brokers Sale of 64-Unit Community in Washington

by Hayden Spiess

OTHELLO, Wash. — Marcus & Millichap has brokered the sale of Coventry House, a 64-unit seniors housing community located in Othello in southeastern Washington.  A Washington-based owner and operator with a portfolio of more than 10 senior living communities in the state purchased the property for an undisclosed price. Michael Mooney, Nick Stahler, Chad Mundy and Joel Deis of Marcus & Millichap brokered the transaction on behalf of the seller, an owner and operator preparing for retirement.  The 50,456-square-foot community features 48 assisted living and 16 independent living units. Amenities at …

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The-Carrington-at-Lincolnwood_Lincolnwood-Ill
AcquisitionsIllinoisNews

Senior Resource Group Acquires Community in Metro Chicago for $212.5M

by Hayden Spiess

LINCOLNWOOD, Ill. — Senior Resource Group and the TIAA Real Estate Account — which is managed and supported by Nuveen Real Estate — have acquired The Carrington at Lincolnwood in Lincolnwood, roughly 13 miles northwest of downtown Chicago. A partnership between LAMB Properties and Harbert South Bay Partners sold the property for $212.5 million.  Totaling 383 units, The Carrington at Lincolnwood features independent living, assisted living and memory care residences. The community was built in 2028. Amenities at the property include an indoor pool, movie theater, wellness gym, sports bar, game …

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Murano-Senior-Living_Seattle
FinanceNewsWashington

Columbia Pacific Advisors Receives $130M Refinancing for Community in Seattle

by Hayden Spiess

SEATTLE — Columbia Pacific Advisors has received a $130 million loan for the refinancing of Murano Senior Living, a seniors housing community located in Seattle. The borrower developed the property, which opened in 2019.  Chris Cain, Tyler Armstrong and Taylor Russ of Lument arranged the financing on behalf of the borrower.  “This financing reflects the strength of the sponsorship, the continued operating momentum at Murano and the long-term fundamentals supporting seniors housing in Seattle,” says Cain. Murano Senior Living features 243 units, with 215 independent and assisted living units and 28 …

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Belle-Mare-Rendering_Potomac-Md
CaliforniaDevelopmentMarylandNews

Harrison Street, Harbert to Develop Two Communities in California, Maryland

by Hayden Spiess

PASADENA, Calif. and POTOMAC, Md. — Harrison Street Asset Management and Harbert Management Corp.’s South Bay division have formed a joint venture to develop two seniors housing communities. The properties will be located in Pasadena, California, and Potomac, Maryland.  The Palmer in Pasadena and The Belle Mare in Potomac will total 80 and 94 units, respectively.  PNC Bank provided construction financing for the developments. Momentum Senior Living will manage the communities upon completion.  “Demand for high-quality senior housing continues to outpace supply across the country, a trend expected to accelerate as …

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Joe-Weisenburger
Company NewsIllinoisNewsPeople

Charter Appoints Joe Weisenburger SVP of Capital Markets, Business Development

by Hayden Spiess

NAPERVILLE, Ill. — Charter Senior Living has appointed Joe Weisenburger senior vice president of capital markets and business development.  With more than two decades of experience in the seniors housing sector, Weisenburger most recently served as vice president of capital markets and investments at Kisco Senior Living. HE also previously held leadership roles at LCS and Welltower.  “Joe brings an exceptional combination of industry expertise, investment knowledge and longstanding relationships that will be instrumental in Charter’s next chapter,” says Patrick Mathews, CFO and CIO of Charter Senior Living. “His experience and …

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Richard Hutchinson
AcquisitionsCompany NewsNewsOperations

Discovery Acquires 26 Management Contracts From Senior Solutions Management Group

by Hayden Spiess

BONITA SPRINGS, Fla. — Discovery Senior Living has entered into a definitive agreement to acquire the management contracts for 26 seniors housing communities from Senior Solutions Management Group (SSMG).  According to Discovery, the portfolio is concentrated in eight states in the South and the Southeast.  Totaling more than 2,200 units, the communities comprise assisted living, independent living and memory care units. Of the units, 69 percent are assisted living, with 18 percent independent living and 13 percent memory care.  Discovery, led by co-founder and CEO Richard Hutchinson, is currently the largest …

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AcquisitionsColoradoNewsSkilled Nursing

SLIB Arranges Sale of 126-Bed Skilled Nursing Facility in Metro Denver

by Hayden Spiess

CASTLE ROCK, Colo. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Brookside Inn, a skilled nursing facility located in Castle Rock, about 30 miles southeast of downtown Denver.  The property totals 126 beds and approximately 43,184 square feet.  A Colorado-based entity, which has owned and operated the community since 1997, sold the community for an undisclosed price. Vince Viverito, Jason Punzel, Jake Anderson and Taylor Graham of SLIB represented the seller in the transaction.  A California-based skilled nursing operator was the buyer. 

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Parkview-Estates_Fountain-Valley-Calif
AcquisitionsCaliforniaNews

SlateView Capital Acquires 151-Unit Community in Southern California 

by Hayden Spiess

FOUNTAIN VALLEY, Calif. — SlateView Capital has completed the acquisition of Parkview Estates, a 151-unit assisted living and memory care community located in Fountain View, approximately 40 miles southeast of Los Angeles.  Amenities at the property, which was completed in 2021, include restaurant-style dining, activity spaces, a fitness and therapy area, a salon and a theater.  The seller and sales price were not disclosed. This marks the second acquisition for SlateView since the firm’s inception. Azhar Jameeli, formerly of IRA Capital, and Kendall Young established SlateView in late August. 

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