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Active AdultConnecticutDevelopmentFinanceNews

United Group Receives $47M Construction Loan for Active Adult Project in Connecticut

by Hayden Spiess

BLOOMFIELD, Conn. — The United Group of Cos. has received a $47 million construction loan for the development of a new active adult community in Bloomfield. Liberty Bank of Middletown provided the financing.  Upon completion, The Arbella at Blue Hills will total 164 units, with apartments in one-, two- and three-bedroom layouts, as well as townhome units. Delivery of the project, which will also feature 19 affordable residences, is scheduled for 2027. Amenities at the property will include a 12,000-squrae-foot clubhouse with a fitness center, yoga studio, wellness spa and salon, …

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FinanceNews

Seniors Housing Outperforms Other Sectors in NCREIF Index

by Hayden Spiess

CHICAGO — According to the National Council of Real Estate Investment Fiduciaries (NCREIF), the seniors housing sector has outperformed other property types in both the third quarter and year-to-date returns. Seniors housing posted a return of roughly 2.9 percent in the third quarter of this year and reached 7 percent in year-to-date returns.  These figures reflect higher returns than those of other sectors in the Expanded NCREIF Property Index (NPI). Seniors housing in the third quarter outperformed the broader NPI by 166 basis points.  Over the past one-year period, seniors housing …

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FinanceFloridaNewsSkilled Nursing

Dwight Mortgage Trust Provides $120M Bridge Loan for Florida Skilled Nursing Portfolio

by Hayden Spiess

NEW YORK CITY — Dwight Mortgage Trust, REIT affiliate of Dwight Capital, has provided a $120 million bridge loan to finance a skilled nursing portfolio located in Florida. Totaling 795 beds, the portfolio comprises five skilled nursing facilities.  Proceeds from the loan will be used to refinance the existing debt on two facilities as well as fund the acquisition of three of the facilities. Adam Offman of Dwight Mortgage Trust originated the financing.  The properties include Balanced Healthcare in St. Petersburg, which totals 299 beds; Gulfside Health & Rehab Center in …

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Atlanta-Civic-Center-Redevelopment
Affordable HousingDevelopmentFinanceGeorgiaNews

KeyBank Arranges $72.8M Financing for Affordable Redevelopment in Atlanta

by Hayden Spiess

ATLANTA — KeyBank Community Development Lending and Investment (CDLI) has arranged $72.8 million in financing for the first phase of the redevelopment of Atlanta Civic Center. The borrower, Civic Center Partners, is converting a portion of the property into a 148-unit affordable seniors housing community.  Civic Center Partners — a joint venture between The Michaels Organization, Sophy Cos. and Republic Properties — is partnering with Atlanta Housing, which owns the Atlanta Civic Center, on the project.  KeyBank CDLI provided a $39.1 million taxable construction loan and $25.2 million in federal low-income …

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Company NewsNewsTechnology

Katie Davis Joins myLifeSite as Senior Advisor 

by Hayden Spiess

RALEIGH, N.C. — Katie Davis has joined myLifeSite, a company that develops digital tools for senior living providers and prospective residents.  Davis has previously held multiple executive roles with senior living providers and vendors, including that of chief operating officer at a regional continuing care retirement community company. Davis also founded CarePods, an in-home senior living model that she sold to  a post-acute primary care provider. In her new role as senior advisor, Davis will focus on growth, product strategy and new market development.  myLifeSite offers decision-making modules for consumers, as well …

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Cypress-Court_San-Diego
AcquisitionsAssisted LivingCaliforniaIndependent LivingNews

Azure Partners Acquires 148-Unit Community in San Diego

by Hayden Spiess

SAN DIEGO — Azure Partners has acquired Cypress Court, a senior living community located in San Diego.  Totaling 148 units, the property features 76 independent living and 72 assisted living residences. Kisco Senior Living sold the community for an undisclosed price. JLL Capital Markets brokered the transaction on behalf of the seller. JLL also secured a 10-year acquisition loan through Freddie Mac on behalf of Azure.  “Azure is very excited about the acquisition of Cypress Court as our entrance into seniors housing, and we aim to rapidly expand our portfolio in …

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Livelle-Mulholland_Woodland-Hills-Calif
Assisted LivingCaliforniaDevelopmentIndependent LivingMemory CareNews

CCI to Develop 236-Unit Senior Living Community in Southern California

by Hayden Spiess

WOODLAND HILLS, Calif. — CCI has announced plans for the development of a 236-unit luxury senior living community in Woodland Hills, roughly 25 miles northwest of Los Angeles.  Upon completion, Livelle Mulholland will feature 200 independent living units, seven villas, 16 assisted living apartments and 13 memory care units. LCS will manage the community.  Amenities at the property will include a wellness center with therapy pools, nature trails and outdoor game courts, underground and attached garage parking, a restaurant, wine bar and rooftop lounge, indoor and outdoor theaters and classrooms.  Construction …

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Atlanta-Skilled-Nursing
AcquisitionsGeorgiaNewsSkilled Nursing

SLIB Arranges Sale of 100-Bed Skilled Nursing Facility in Atlanta

by Hayden Spiess

ATLANTA — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 100-bed skilled nursing facility located in Atlanta.  A national seniors housing and long-term care owner sold the property to a Northeast-based owner and operator for an undisclosed price. The buyer plans to relocate the licensed beds within the county.  Daniel Geraghty, Bradley Clousing and Nick Cacciabando of SLIB brokered the transaction on behalf of the seller. 

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Affordable HousingDevelopmentFinanceGeorgiaNews

Columbia Residential Secures Financing for $28.4M Renovation Project at Affordable Community in Atlanta

by Hayden Spiess

ATLANTA — Columbia Residential has secured financing for a $28.4 million renovation and preservation project at Columbia Senior at MLK Village, an affordable seniors housing community located in Atlanta.  Originally developed in 2007 in partnership with Ebenezer Building Foundation, Columbia Senior at MLK Village features 121 units for residents age 62 and older. The preservation project will rehabilitate the community and upgrade amenities at the property.  Atlanta Housing has committed 121 HomeFlex vouchers for 20 years to the community. Funding for the renovation includes tax-exempt bond financing issued by Invest Atlanta, …

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Hayden-Grove_Bloomington-Minn
AcquisitionsAssisted LivingIndependent LivingMemory CareMinnesotaNews

Verdot Capital Sells 166-Unit Community in Metro Minneapolis

by Hayden Spiess

BLOOMINGTON, Minn. — Verdot Capital has sold Hayden Grove Bloomington, a 166-unit seniors housing community located in Bloomington, a suburb of Minneapolis. An undisclosed buyer acquired the property. JLL Capital Markets brokered the transaction on behalf of the seller.  Constructed in 2021, Hayden Grove Bloomington features a four-story building with a full continuum of care. Amenities at the community include underground parking, a private dining room, bistro, coffee lounge, game room, party room, theater, event center, library, craft room, fitness program, beauty salon and community rooms. The operator, Great Lakes Management, …

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