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Active AdultColoradoDevelopmentNews

United Properties Breaks Ground on 154-Unit Active Adult Community in Denver

by Hayden Spiess

DENVER — United Properties has broken ground on a new active adult community, Amira Lowry, in the Denver neighborhood of Lowry.  Upon completion, the property will total 154 units reserved for adults age 55 and older. Residences will include studio, one- and two-bedroom apartments.  Great Lakes Management will operate Amira Lowry.  Construction of the project is being led by Weis Builders. A development timeline was not disclosed. Plans for the site also include a future, second phase with villa-style active adult homes.  Owned by Pohlad Cos., United Properties specializes in ground-up …

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Company NewsNew YorkNewsPeople

Lument Adds Alex Florea, Kevin Lukehart to Support Seniors Housing Expansion

by Hayden Spiess

NEW YORK CITY — Lument has hired Alex Florea and Kevin Lukehart to support the firms expansion of its real estate investment sales platform into the seniors housing sector.  Florea will serve as managing director and Lukehart will assume the role of director. Florea will lead the seniors housing team, working closely with John Sebree, head of real estate investment sales, and Aaron Becker, head of seniors housing and healthcare debt production.  Prior to joining Lument, Florea worked at Blueprint HCRE, most recently as managing director. In that role, he brokered …

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American-House-The-Palms_Fort-Myers-Fla
Assisted LivingFloridaIndependent LivingMemory CareNewsOperations

American House Assumes Management of 218-Community in Fort Myers

by Hayden Spiess

FORT MYERS, Fla. — American House Senior Living Communities has assumed the management of The Palms of Fort Myers, a seniors housing community located in Fort Myers. American House now operates 14 Ventas-owned properties. The community, which totals 218 units, will be rebranded as American House The Palms. Residences at the property include 148 independent living units, 47 assisted living units and 23 memory care apartments. Amenities at American House The Palms include a bar and cocktail lounge, chapel, covered parking, a library, movie theater and outdoor pool.  “Florida continues to …

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AcquisitionsNewsWashington

SLIB Arranges Sale of 42-Unit Property in Washington

by Hayden Spiess

CASHMERE, Wash. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a seniors housing community located in Cashmere in central Washington.  Situated on roughly 1.5 acres, the community comprises 42 units.  A regional owner-operator seeking to expand their footprint in the state acquired the property for an undisclosed price. The seller was a local owner-operator exiting the industry. Jason Punzel, Vince Viverito, Jake Anderson and Taylor Graham of SLIB brokered the transaction. 

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Modena-Green-Oaks_Lake-Bluff-Ill
AcquisitionsAssisted LivingIllinoisIndependent LivingMemory CareNews

Town Lane, Arcole Acquire 198-Community in Metro Chicago

by Hayden Spiess

LAKE BLUFF, Ill. — Town Lane and seniors housing platform Arcole have acquired The Sheridan at Green Oaks in Lake Bluff, roughly 35 miles outside downtown Chicago.  Town Lane and Kelly Sheehy, who serves as managing partner of the platform, launched Arcole late last year. This marks the fifth senior living investment for Town Lane’s inaugural $1.3 billion real estate fund.  Totaling 198 independent living, assisted living and memory care units, The Sheridan at Green Oaks was built in 2016. The community encompasses more than 220,000 square feet on a 17-acre …

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McKenzie-Falls_Bolingbrook-Ill
AcquisitionsIllinoisNews

SVN Chicago Commercial Brokers $6.7M Sale of Illinois Community 

by Hayden Spiess

BOLINGBROOK, Ill. — SVN Chicago Commercial has brokered the sale of McKenzie Falls, a senior living community located in Bolingbrook, roughly 30 miles southwest of downtown Chicago.  An undisclosed buyer acquired the property, which totals 105 units, for $6.7 million.  Reid Bennett, Cody Doran and Dan Short of SVN Chicago Commercial arranged the transaction.  “This was a more intricate transaction given the layered capital stack and various area median income restrictions,” says Doran. “However, our team’s experience navigating complex deal structures, combined with a highly capable and well-capitalized buyer, allowed us …

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Countryside-of-Wichita-Falls_Wichita-Falls-Texas
AcquisitionsFinanceNewsTexas

Blueprint Arranges Recapitalization, Joint Venture Partnership for Community in Texas

by Hayden Spiess

WICHITA FALLS, Texas — Blueprint HCRE has arranged the recapitalization of Countryside of Wichita Falls, a 50-unit senior living community situated in Wichita Falls.  The recapitalization included the introduction of new equity through a joint venture partnership.  Following the closing of the transaction — brokered by Amy Sitzman and Giancarlo Riso of Blueprint — the joint venture began the execution of a business plan that features that conversion of units to memory care, as well as physical and operational upgrades.  This marks the new joint venture owner’s first entry into the …

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The-Link-Columbia-Senior-Residences_Decatur-Ga
Affordable HousingDevelopmentGeorgiaNews

Columbia Residential, Decatur Housing Open 80-Unit Affordable Housing Community in Metro Atlanta

by Hayden Spiess

DECATUR, Ga. — Columbia Residential and Decatur Housing have opened The Link at Columbia Senior Residences, a new affordable seniors housing development in East Decatur, a suburb of Atlanta.  This marks the completion of the second phase of the development.  Totaling 80 units, the property is reserved for residents age 62 and older. The community will serve individuals earning at or below 60 percent of the area median income (AMI), with 24 units reserved for residents earning at or below 50 percent of the AMI and 17 units reserved for residents …

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AcquisitionsAssisted LivingFinanceMemory CareNewsTennessee

BWE Arranges Sale, Financing of Metro Nashville Community

by Hayden Spiess

GALLATIN, Tenn. — BWE has arranged the sale and financing of The Capstone at Station Camp, a senior living community located in Gallatin, roughly 30 miles northeast of Nashville.  Totaling 100 units, the property features assisted living and memory care.  Charley Bissell, Ryan Stoll and Taylor Mokris of BWE represented the seller, Hunt Midwest, in the transaction. BWE also secured non-recourse acquisition financing through a regional bank on behalf of the undisclosed buyer.  Kansas City-based Hunt Midwest is a privately held development company that has developed more than 875 assisted living …

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AcquisitionsNewsSkilled NursingWisconsin

Marcus & Millichap Brokers $2.7M Sale of Skilled Nursing Facility in Wisconsin

by Hayden Spiess

STEVENS POINT, Wis. — Marcus & Millichap has brokered the sale of Portage County Health Care Center, a skilled nursing and rehabilitation facility located in Stevens Point in central Wisconsin.  An undisclosed buyer acquired the property for $2.7 million.  Ray Giannini of The Giannini Group at Marcus & Millichap arranged the sale on behalf of the seller, Portage County.  Situated on 16 acres, the facility comprises 81,562 square feet and 48 beds. The property was originally built in 1965 and expanded in 1985 and 1994. 

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