Thursday, November 21, 2024
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Arkansas

Stonehaven Assisted Living in Maumelle, Arkansas
AcquisitionsArkansasAssisted LivingNews

ESI Brokers Sale of Stonehaven Assisted Living in Maumelle, Arkansas

by Channing Hamilton

MAUMELLE, Ark. — Evans Senior Investments (ESI) has arranged the sale of Stonehaven Assisted Living, a 60-unit facility in Maumelle, an affluent community located about 17 miles northwest of Little Rock. ESI represented the seller, a national healthcare system, in the transaction. The sales price was undisclosed. The buyer was a private company that partnered with a Midwest-based operator, and the deal marked their second investment in Arkansas. Stonehaven, which opened in 2007, has long served both private pay and Medicaid residents. However, over the past year, Stonehaven faced some major difficulties, …

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ArkansasDevelopmentFinanceNews

IPA Capital Markets Arranges $25.5M Construction Financing for Meadowview of Fayetteville in Arkansas

by Jeff Shaw

FAYETTEVILLE, Ark. — IPA Capital Markets, a division of Marcus & Millichap, has arranged $25.5 million in construction financing for Meadowview of Fayetteville, a 117-unit senior living complex in Fayetteville. Frank Montalto, managing director in IPA Capital Markets’ Chicago office, secured the financing with a local bank on behalf of a private developer.  Terms of the construction loan include a floating rate, five-year term and 70 percent loan-to-cost ratio.  The ground-up development will feature 60 independent living apartments and 57 assisted living apartments.

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Mallard Point Senior Living in Cedar Falls, Iowa
AcquisitionsArkansasIllinoisIowaMissouriNews

Arrow Takes Over Management of Eight Communities in Midwest, Southeast

by Jeff Shaw

ST. CHARLES, Mo. — Arrow Senior Living, a St. Charles-based owner-operator, has taken over management of eight seniors housing communities across Illinois, Iowa, Missouri and Arkansas. Closed in June, CedarStone Senior Living and PrairieStone Senior Living, both located in Cedar Falls, Iowa, were developed by Nelson Construction and Development. CedarStone consists of 120 apartments, including 88 assisted living apartments and 32 memory care apartments. PraireStone consists of 111 apartments, with 79 assisted living apartments and 32 apartments dedicated to memory care. Arrow also began operating six independent living communities, in …

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AcquisitionsArkansasNews

SLIB Brokers Sale of 121-Unit Indian Rock Village in Fairfield Bay, Arkansas

by Jeff Shaw

FAIRFIELD BAY, Ark. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Indian Rock Village, a 121-bed independent living, assisted living and memory care community in Fairfield Bay. Located along Greers Ferry Lake approximately 80 miles north of Little Rock, the community was built in 1990. A regional owner-operator looking to exit the skilled nursing industry sold the asset to a regional owner. The price was not disclosed. Daniel Geraghty and Bradley Clousing handled the transaction for SLIB.

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ArkansasDevelopmentNews

HDG Opens First Senior Living Community in Maumelle, Arkansas

by Jeff Shaw

MAUMELLE, Ark. — Health Dimensions Group (HDG) has opened Mira at Maumelle, which the developer claims is the first senior living community in the Little Rock suburb of Maumelle. Mira at Maumelle provides independent living, assisted living and memory care services. The number of units was not disclosed. HDG now manages the property, bringing its portfolio to 48 communities in eight states.

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ArkansasMemory CareNewsOperationsTennessee

Anthem Memory Care Assumes Management of Two Communities in Arkansas, Tennessee

by Jeff Shaw

FAYETTEVILLE, Ark., and KNOXVILLE, Tenn. — Anthem Memory Care has assumed management of two communities — Clear Creek in Fayetteville and Concord Place in Knoxville.  The new properties bring Anthem’s portfolio up to 19 properties and marks the Oregon-based operator’s entry into Tennessee.

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ArkansasMemory CareNewsOperations

Anthem Memory Care Assumes Management of Pinnacle Place in Little Rock, Arkansas

by Jeff Shaw

LITTLE ROCK, Ark. — Anthem Memory Care has assumed management of Pinnacle Place Memory Care, formerly known as Avenir of Little Rock.  Under the agreement, Anthem Memory Care now manages all aspects of the community’s operations and will add regional staff, technology and training programs to adapt the community to its approach to care. The new property, located in Little Rock, brings Anthem’s portfolio up to 20 properties and marks the Oregon-based operator’s entry into Arkansas.

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ArkansasDevelopmentNews

Arrow Opens 158-Unit The Summit Senior Living at Chenal Valley in Little Rock, Arkansas

by Jeff Shaw

LITTLE ROCK, Ark. — Arrow Senior Living has opened The Summit Senior Living at Chenal Valley in Little Rock.  Built by O’Reilly Development, the property is situated in the bustling West Little Rock area and sits on 12 acres near outdoor recreation, shopping and fine dining.  The 163,000-square-foot property features 96 independent living units, 44 assisted living units and 18 memory care units. The Summit Senior Living at Chenal Valley is the first Arrow-operated community in Arkansas and the 35th in the nation.

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ArkansasNewsOperationsSkilled Nursing

Plains Commercial Arranges New Tenant for Davis West Nursing Home in Pine Bluff, Arkansas

by Jeff Shaw

PINE BLUFF, Ark. — Plains Commercial has arranged the lease of Davis West Nursing Home in Pine Bluff, approximately 45 miles south of Little Rock. The exiting operator is a nonprofit that made the decision to exit the skilled nursing operating business. After the bidding process, the landlord chose a Chicago-based operator. The facility was suffering from a depressed census that hadn’t fully recovered from COVID. Licensed for 177 beds, the facility offered the new operator significant upside through further lease-up and operational changes. The Chicago-based operator is taking on …

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