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Madison at Oviedo

CLERMONT, OCOEE and OVIEDO, Fla. — Atlas Senior Living and affiliate company Salta Capital have acquired three senior living communities in the Orlando suburbs of Clermont, Ocoee and Oviedo.  The communities, which offer assisted living and memory care services, have consistently maintained high occupancy rates, according to Atlas. Atlas and Salta plan to implement a $1.5 million renovation plan across the properties. These capital improvements aim to enhance the living standards and amenities.

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PITTSBURGH — Tryko Partners has opened Cedarwood Homes, a 46-unit affordable seniors housing community in Pittsburgh’s West End neighborhood. The community is already nearing full occupancy, according to the developer. The community features 39 apartments for those age 62 and over with incomes up to 60 percent of the area median income, as well as seven market-rate apartments with the same age criteria.  The project is a redevelopment of Pittsburgh’s former Fairywood School site. Key agencies contributed to the project’s viability, including 9 percent Low-Income Housing Tax Credit awarded by …

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ALPHARETTA, Ga. — Berkadia has arranged the sale of an 85-unit assisted living and memory care community in Alpharetta, a suburb north of Atlanta.  Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders led the Berkadia team in representing the seller, a publicly traded REIT. The asset, part of a three-property portfolio, was purchased by a regional owner/operator. The first two properties in the portfolio closed in May. The price and other details were not disclosed.

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PHILADELPHIA — Blueprint Healthcare Real Estate Advisors has brokered the sale of a Class A skilled nursing facility in the Philadelphia area. Built in the early 2000s, the facility underwent a significant renovation project in 2022. The property is a Medicare-only community. The seller was an institutional private equity firm. The incumbent operator was a seniors housing-focused manager also providing lower acuity senior care services on the adjacent campus. A regional owner-operator looking to expand in the region acquired the asset for an undisclosed price. Michael Segal, Jacob Gehl, Dillon …

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FORT COLLINS, Colo. — Co-developers MorningStar Senior Living and Haselden Real Estate Development have opened MorningStar at Old Town, a seniors housing property in Fort Collins.  The companies partnered with local landowner and developer J.D. Padilla to develop the asset in Old Town Fort Collins. Located at 360 Tenney Court, MorningStar at Old Town features 160 units for independent living, assisted living and memory care in a four-story residential building. Project partners included Hord Coplan Macht as architect, Haselden as general contractor and Thoma-Holec as interior designer.

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FOXBOROUGH, Mass. — MassDevelopment has issued a $22.2 million tax-exempt bond on behalf of Walnut Street Phase One 4 LLC to build 80 units of affordable seniors housing at 51 Walnut Street in the Boston suburb of Foxborough. The developer is a joint venture that includes Affordable Housing and Services Collaborative Inc., Peabody Properties Inc. and The Onyx Group. The site, previously owned by the Commonwealth of Massachusetts, was turned over to the Foxborough Housing Authority in 2017.  These units represent the first step in a multi-phase project that will …

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TULSA, OKLA. — Dallas-based brokerage firm The Multifamily Group (TMG) has arranged the sale of Heatheridge Assisted Living, an 87-unit seniors housing property located just outside the downtown Tulsa area.  Built in 1990, the property offers one-bedroom units with four different floor plans and amenities such as a laundry room, entertainment room, outdoor courtyard and full-service salons.  Jon Krebbs of TMG brokered the deal. The buyer and seller were not disclosed.

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CHICAGO — While interest rates have hogged the headlines of late, the seniors housing industry’s labor challenges have not disappeared. During the COVID-19 pandemic, many in the sector — particularly caregivers — left for other careers. To fill the gaps, many operators resorted to third-party agency labor, which is more expensive and means that employees may not be dedicated to the community at which they’re working. Justin Hutchens believes in a few solutions to these challenges. Hutchens is an industry veteran currently serving as executive vice president of seniors housing …

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HUNTINGTON PARK, Calif. — Coldwell Banker Commercial West has arranged the sale of Seville Gardens Apartment Community, a seniors housing property located at 2701 Randolph St. in Huntington Park. Seville Gardens LLC sold the asset to Equity Consultants Equity Inc. for $33.7 million. The buyer plans to maintain the property as seniors housing. Built in 1989, Seville Gardens features 225 apartments in a mix of 108 studios, 114 one-bedroom/one-bath and three two-bedroom/one-bath units. The property is currently under a building covenant that mandates it be used as 55-plus housing with …

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WHIPPANY, N.J. — DIGroup Architecture and Jewish Community Housing Corp. (JCHC) have completed a renovation and expansion project at Lester Senior Living in Whippany, approximately 30 miles west of Manhattan. The project includes 20,000 square feet of newly completed modern amenities. Alterations at Lest’ers Heller Independent Living and Weston Assisted Living areas included re-envisioning the first-floor area as a more interactive space for residents. These gathering-place enhancements involved the café/reading room and refurbished dining room. Additions to the second floor encompassed a new theater. The atrium was also renovated.

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