Colorado

STERLING, Colo. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Devonshire Acres, an independent living, assisted living and skilled nursing community in Sterling, near the Nebraska border approximately 130 miles northeast of Denver. The community consists of 24 independent living/assisted living beds and 84 skilled nursing beds. It was built in 1982 and renovated in 1989. The property totals 55,430 square feet on approximately 10 acres of land. The seller was a REIT. This was the tenant’s only managed asset in the state. The buyer is a …

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PARKER, Colo. — Health Dimensions Group (HDG), along with co-owners Ellipsis and Invesque, has opened Terra Bluffs, an assisted living and memory care community in Parker. The property is located southeast of Denver. Details such as the number of units were not disclosed. HDG provides oversight of the community’s day-to-day operations. Ellipsis is the project developer for the care community and Invesque is the project’s investment partner.

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DURANGO, Colo — Lument has arranged a $27 million debt placement to assist Mission Senior Living with the construction of a 124-unit, 129-bed, two-story assisted living and memory care community to be known as Mesa Verde Estates in Durango.  Lument’s Steve McGee, Rob McAdams, and Sangjin Na led the transaction. The financing structure included a $20.9 million U.S. Department of Agriculture (USDA) guaranteed loan that a community bank provided. The structure also includes approximately $6 million of commercial property assessed clean energy (C-PACE) proceeds, which Lument sourced from an independent …

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CENTENNIAL, Colo. — Headwaters Group has broken ground on Aspendale Centennial, an active adult community in Centennial, a southern suburb of Denver.  The property will feature 172 units in a four-story, 203,653-square-foot building. Live Oak Bank provided construction financing, and a programmatic institutional equity partner provided equity.  “This is a meaningful project, as it will be our first ground-up development since Headwaters Group’s inception in 2022,” says Ben Burke, managing partner at Headwaters Group. The focal point of the community will be a two-story clubhouse, featuring 9,757 square feet of …

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MONUMENT, Colo. — WellAge has named Lauren Hart as executive director of Jackson Creek Senior Living in Monument. Hart’s career journey includes roles as a business office manager in memory care and assisted living, advancing to human resources director at a skilled nursing facility, and subsequently serving as associate executive director at a Brookdale Senior Living community. Hart received an undergraduate degree in human resource management and an MBA in business administration from the University of Phoenix, graduating in 2022.

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DENVER — Cogir Senior Living and Ryan Cos. US Inc. have opened ACOYA Cherry Creek, a 137-unit independent living and assisted living community in Denver. “The demand for seniors housing is far from peaking and this includes the Denver market,” says Julie Ferguson, executive vice president of senior living, Ryan Cos. The property is located in the Cherry Creek neighborhood near locally owned boutiques, restaurants, and art galleries, less than five miles from downtown Denver. Cogir Senior Living develops, owns and/or operates 60 lifestyle communities throughout the United States. The …

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LITTLETON, Colo. — Evans Senior Investments (ESI) has arranged the sale of Balfour at Littleton, a seniors housing community in the Denver suburb of Littleton. United Properties sold the 86-unit assisted living and memory care community for $31.5 million, or $366,279 per unit.  Built in 2018, the trophy asset was 97 percent occupied. Over the past 12 months, the community consistently maintained an average occupancy of 95 percent, even with new supply coming into the market, according to ESI. The buyer was an investment group based in Ohio.

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DURANGO, Colo. — Bayview PACE has provided $6 million in C-PACE financing for key improvements for the 124-unit Mesa Verde senior living community in Durango, a small city in the southwest corner of the state. The C-PACE financing helped fund primary building systems including HVAC, electrical, plumbing and roofing. The 105,000 square-foot Mesa Verde will offer 92 assisted/transitional living units spread across studio, one-bedroom and one-bedroom configurations, as well as 32 memory care studio units. Mesa Verde is directly adjacent to Centura Mercy Hospital, the only major hospital in the …

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FORT COLLINS, GREELEY, LONGMONT, LOVELAND and ARVADA, Colo. — Senior Living Investment Brokerage (SLIB) has arranged a lease renewal for six seniors housing properties in Colorado totaling 328 units. The assets are located in Fort Collins, Greeley, Longmont, Loveland and Arvada. The landlord is a seniors housing and healthcare real estate investment trust (REIT). After analyzing potential tenant options presented by SLIB, the seller decided it did not make sense to disrupt the operations and replace the existing tenant. Bradley Clousing, Daniel Geraghty, Jason Punzel and Vince Viverito of SLIB …

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RICHMOND, Va., and FORT COLLINS, Colo. — Brinkmann Constructors, in partnership with Erickson Senior Living and Mosely Architects has completed the construction of a four-story, 103-unit residential building at Avery Point, a seniors housing community in Richmond.  This 157,000-square-foot, wood-framed building is the fourth residential facility built on the campus and the fifth building at Avery Point completed by Brinkmann.  In a separate deal, Brinkmann Constructors, in partnership with Experience Senior Living, broke ground on a five-story memory care and assisted living facility with 27 memory care units and 117 …

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