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AcquisitionsCaliforniaNews

Artemis Real Estate Partners Acquires 155-Unit Community Near San Francisco

by Hayden Spiess

FOSTER CITY, Calif. — Artemis Real Estate Partners has acquired Atria at Foster Square, a 155-unit senior living community located in Foster City, roughly 20 miles southeast of San Francisco. Artemis purchased the property in partnership with the current operator, Atria Senior Living, which will continue to manage the community under its Atria Signature Collection brand.  Built in 2016, the property was developed as part of a mixed-use master-plan town center. Amenities at the community include a theater, fitness center, activity and game rooms, a library, courtyard, physical therapy space and …

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CaliforniaNewsPeople

Doug Korey Passes Away

by Hayden Spiess

WESTLAKE VILLAGE, Calif. — Industry veteran Doug Korey passed away on Aug. 13. Korey is survived by his wife, Jodi, and daughters Caroline and Jacqueline.  Korey, who retired in April, worked for more than 40 years in the seniors housing sector. Most recently, he served as managing director of business development for LTC Properties.  A member of the American Seniors Housing Association and the American Health Care Association, Korey originated and structured billions of dollars in healthcare real estate transactions throughout his career.  His cause of death was Glioblastoma. 

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CaliforniaCompany NewsNews

Alegre Home Care Joins Elder Care Alliance

by Hayden Spiess

ALAMEDA, Calif. — Alegre Home Care, which provides in-home care assistance to elderly and disabled individuals, is joining Elder Care Alliance (ECA).  Based in Alameda, ECA is a non-profit association of senior living communities and part of the Transforming Age network of affiliates. ECA currently serves more than 10,500 older adults through five residential communities and the Mercy Brown Bag Program, which sorts, packs and distributes groceries.  Alegre’s founder and CEO Charles Symes will remain in place throughout the ownership transition and will serve as a home care consultant within the …

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AcquisitionsAssisted LivingCaliforniaMemory CareNews

Steadfast Senior Living Sells 67-Unit Community in Morgan Hill, California 

by Hayden Spiess

MORGAN HILL, Calif. — Steadfast Senior Living has sold Loma Clara, a 67-unit community located in Morgan Hill, for an undisclosed price. LTC REIT was the buyer.  Completed in 2018, Loma Clara features 42 assisted living units and 25 memory care units. The property was roughly 92 percent occupied at the time of sale. Units total 529 square feet on average. Amenities at the community include a theater, fitness center, activity and game rooms, a library, outdoor courtyard, physical therapy space and bistro. Discovery Management will continue to operate the property.  …

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AcquisitionsCaliforniaFinanceNews

Harrison Street Receives Acquisition Financing for 153-Unit Community in Carlsbad, California

by Hayden Spiess

CARLSBAD, Calif. — Harrison Street has received a loan to facilitate the acquisition of a 153-unit senior living community located in Carlsbad.  The community, Oakmont Santianna, totals 153 units, including independent living, assisted living and memory care residences. Oakmont Management Group developed the property, which opened in 2022.  BWE arranged the financing, which includes a 10-year, fixed-rate loan with full-term interest-only payments. A life insurance company provided the loan.  Oakmont Management Group will continue to operate the community on behalf of the new ownership. 

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CaliforniaDevelopmentIndependent LivingNews

Hawthorn Senior Living Opens 149-Unit Independent Living Community Near Sacramento

by Hayden Spiess

RANCHO CORDOVA, Calif. — Developer, owner and operator Hawthorn Senior Living has opened Bear Hollow Estates, a new independent living community located in Rancho Cordova, roughly 15 miles outside Sacramento.  Totaling 149 units, the property features studio, one- and two-bedroom apartments. Amenities at the $46.5 million development include a fitness studio, movie theater, billiards lounge, pub, salon and library. Outdoor features include walking paths, raised garden beds and a fire-pit courtyard.  This marks Hawthorn Senior Living’s sixth community in California. Hawthorn’s national portfolio comprises more than 70 communities. 

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AcquisitionsAffordable HousingCaliforniaNews

Jonathan Rose Cos. Acquires Coventry Court for $83M

by Hayden Spiess

TUSTIN, Calif. — Jonathan Rose Cos. has acquired Coventry Court, a seniors housing community located in Tustin, for $83 million. Meta Housing Corp. was the seller.  Developed in 2012, the property features 240 units, with 153 residences designed as affordable and reserved for seniors earning 50, 60 and 110 percent of the area median income. Consequently, the property qualifies for a 40 percent tax abatement. The other 87 units at the community are market rate.  Jim Fisher, Vince Norris, Mike Smith and Tommy Yates of Northmarq brokered the transaction on behalf …

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CaliforniaNewsOperations

Ellore Senior Living Launches Wellness Program in Santa Clara, California

by Hayden Spiess

SANTA CLARA, Calif. — Ellore Senior Living, a recently opened 176-unit seniors housing community in Santa Clara, has launched a new onsite wellness program.  Dubbed Wellness by Ellore, the program will offer onsite healthcare services to residents. Wellness by Ellore offers five “pillars” of care — Medical Advisement, Concierge Medicine, Ellore Med, Ellore Balance and Traditions Memory Care. Dr. Mahyar Ayati is leading the program.  Through an exclusive partnership with Pine Park Health, Concierge Medicine will offer primary and specialist care including dentistry, podiatry, audiology, optometry and therapeutic massage. Ellore Med …

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AcquisitionsAssisted LivingCaliforniaMemory CareNews

JCH Brokers $14.1M Sale of Assisted Living, Memory Care Facility in Southern California

by Hayden Spiess

ANAHEIM HILLS, Calif. — JCH Senior Housing Investment Brokerage has arranged the sale of an assisted living and memory care facility located in the Inland Empire region of Southern California. A local operator acquired the property for $14.1 million.   Licensed for 100 beds, the facility features 86 units.  Cindy Hazzard and Jim Hazzard of Anaheim, California-based JCH represented both the buyer and seller in the transaction. 

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Assisted LivingCaliforniaDevelopmentIndependent LivingMemory CareNews

Continuing Life Underway on 354-Unit Community in Walnut Creek, California

by Hayden Spiess

WALNUT CREEK, Calif. — Continuing Life LLC is currently underway on the development of The Glen at Heather Farm, a new seniors housing community in Walnut Creek.  Upon completion, the property will total 354 units in the form of both apartments and single-story homes. In addition to independent living, the community will offer assisted living and memory care services, as well as long-term care options at an adjacent health center.  Amenities at the property will include multiple dining venues, a health spa, aquatic center, theaters and pickleball and tennis courts.  The …

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