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Company NewsGeorgiaNew YorkNews

Town Lane, Kelly Sheehy to Launch New Seniors Housing Platform

by Hayden Spiess

ATLANTA and NEW YORK CITY — Town Lane and Kelly Sheehy will launch a new seniors housing platform. Dubbed Arcole, the platform will be led by managing partner Sheehy and based in Atlanta.  In partnership with New York City-based Town Lane, Arcole will target value-add and opportunistic senior living acquisitions across the country.  Sheehy, who previously served as senior managing director and co-portfolio manager of Artemis Real Estate Partners’ healthcare fund platform, brings more than 20 years of seniors housing experience to the new venture.  “Arcole, in partnership with Town Lane, …

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AcquisitionsAssisted LivingFinanceIndependent LivingMemory CareMichiganNews

Berkadia Arranges Sale, Financing of 152-Unit Senior Living Property in Michigan

by Hayden Spiess

WYOMING, Mich. — Berkadia has brokered the sale of Rivertown Ridge, a senior living property located in Wyoming, a suburb of Grand Rapids.  Built in 2020, the community features 152 units and offers independent living, assisted living and memory care.  CPF Living is the buyer, and its wholly owned management company, Grace Management, will operate the property on behalf of CPF. Redstone Homes, the seller, developed the property and assumed operation of the community in 2023. Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers of Berkadia arranged the sale on …

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AcquisitionsActive AdultIndianaNews

Middle Street Partners Acquires 172-Unit Active Adult Community Near Indianapolis 

by Hayden Spiess

NOBLESVILLE, Ind. — Middle Street Partners has acquired Outlook Hamilton, an active adult community located in Noblesville, roughly 20 miles northeast of Indianapolis.  Totaling 172 units, the property marks the second active adult acquisition for Middle Street this year. In July, Middle Street completed the purchase of Elate Royal Oaks, an active adult community located in Houston.  “We’re excited about our recent acquisitions and the continued opportunities emerging in the Active Adult sector,” says Chris McGuffin, managing director of Middle Street. “Historically, the primary risk in this space was oversupply, but …

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AcquisitionsAssisted LivingMemory CareMissouriNews

SLIB Arranges Sale of Seven-Property Portfolio in Missouri

by Hayden Spiess

WHEATON, Ill. — Senior Living Investment Brokerage (SLIB) has arranged the sale of an assisted living and memory care portfolio located in the state of Missouri. The portfolio comprises seven properties built between 2014 and 2020.  An undisclosed real estate investment firm was the buyer. An East Coast-based operator will manage the properties on behalf of the buyer.  Ryan Saul, Jeff Binder and Bradley Clousing of Illinois-based SLIB brokered the transaction. 

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AcquisitionsNewsTexas

Sagora Senior Living Acquires 100-Unit Community in Dallas-Fort Worth Metro

by Hayden Spiess

BURLESON, Texas — Sagora Senior Living has acquired Wilshire Senior Living, a 100-unit community located in Burleson, approximately 15 miles south of Fort Worth.  Situated on 25 acres, the property comprises four-story buildings with independent living apartments, as well as cottages with attached garages. The community, which was opened in 2021, also features assisted living and memory care units. Amenities at the property include a theater room, billiards area and full-service salon.  The seller and sales price were not disclosed. 

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DevelopmentFinanceIndependent LivingNewsWashington

Horizon House Secures $600M Financing for Development Project at Seattle Campus

by Hayden Spiess

SEATTLE — Nonprofit organization Horizon House has secured bond financing for a development project at its senior living campus in the First Hill neighborhood of Seattle. Ziegler arranged the financing, completing the successful pricing of Horizon House’s $600 million Series 2025AB bonds through the Washington State Housing Finance Commission. The bonds are scheduled to close in December.  The existing senior living campus currently features 377 independent living apartments and 90 assisted living and memory care residences. The bonds will be used to fund a new, 33-story tower at the property, dubbed …

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Affordable HousingDevelopmentIllinoisNews

Evergreen Real Estate Group Tops Off 80-Unit Affordable Development in Metro Chicago

by Hayden Spiess

FRANKLIN PARK, Ill. — Evergreen Real Estate Group has topped off Leyden Senior Apartments, an 80-unit independent living development currently underway in Franklin Park, a western suburb of Chicago.  Designed by Weese Langley Klein Architects, Leyden Senior Apartments will feature 72 one-bedroom and eight two-bedroom residences. Units will be reserved for seniors age 62 or older earning at or below 60 percent of the area median income. Pre-leasing is scheduled to begin in spring 2026, with delivery planned for that summer. F.H. Paschen is serving as the project’s general contractor.  Amenities …

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Helios Arranges Refinancing for 165-Bed Skilled Nursing, Assisted Living Portfolio in Southern California

by Hayden Spiess

FILLMORE and SAN BERNADINO, Calif. — Helios Healthcare Advisors has arranged the refinancing of a two-property portfolio in California. EVA Care Group was the borrower.  The portfolio totals 165 beds across a skilled nursing facility in San Bernardino and an assisted living community in Fillmore. According to Helios, both properties were previously mortgage free, allowing for greater liquidity.  Helios secured funding through a private credit fund. The financing was structured to strengthen working capital throughout the borrower’s broader portfolio. 

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Affordable HousingDevelopmentNew JerseyNews

WinnDevelopment, Soldier On Break Ground on $29M Affordable Development for Veterans

by Hayden Spiess

WEST DEPTFORD, N.J. — WinnDevelopment and nonprofit Soldier On have broken ground on a new affordable housing development in West Deptford for senior veterans. This marks the fifth partnership between WinnDevelopment, the development arm of WinnCos., and Soldier On.  Upon completion, the $29 million development will feature 84 apartments reserved for veterans age 55 and older. Dubbed the Gordon H. Mansfield Veterans and Seniors Village, the 84,720-square-foot property will have a mix of one- and two-bedroom units. Twenty-one apartments will be reserved for residents earning at or below 30 percent of …

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Company NewsNewsPeople

Brookdale Appoints Mary Sue Patchett COO 

by Hayden Spiess

BRENTWOOD, Tenn. — Brookdale Senior Living has appointed Mary Sue Patchett chief operating officer, following more than eight years without anyone officially filling the position. Tennessee-based Brookdale’s most recent COO, Labeed Diab, resigned from the company in 2017, after less than two years in the position.  Patchett will assume her new role Dec. 1, bringing more than 40 years of experience in senior living operations. Previously, during a 25-year tenure with Brookdale that ended in 2021, Patchett served as executive vice president of strategic operations, executive vice president of community and …

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