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ColoradoDevelopmentNewsVirginia

Brinkmann Constructors Breaks Ground on Three Seniors Housing Communities

by Jeff Shaw

LITTLETON, Colo., and FAIRFAX and RICHMOND, Va. — Brinkmann Constructors broke ground on three seniors housing projects in August. The company started construction on an additional residential building in the Wind Crest Senior Living community in Littleton. The seven-story, 195,000-square-foot building will include 94 units and an underground parking garage.  Having worked on Wind Crest projects since 2012, this will be the 12th building Brinkmann has built on the campus. Completion of the new facility is slated for June 2025.  Brinkmann also broke ground on its 24th project for Erickson …

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Active AdultColoradoDevelopmentInvestmentNews

Realty Capital Partners Invests $11.7M in Active Adult Development in Basalt, Colorado

by Jeff Shaw

BASALT, Colo. — Realty Capital Partners, a Dallas-based equity investor, has invested $11.7 million in the development of 72 residential rental units tailored for active adults in Basalt. Developer Realty Capital Residential has acquired the land and secured all necessary entitlements, permits and approved plans. The project will encompass a modern living concept and 2,600 square feet of ground-floor restaurant space. Groundbreaking is set for this month, with completion slated for August 2025. The community will feature one- and two-bedroom floor plans ranging from 675 square feet to 1,322 square …

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AcquisitionsColoradoNewsSkilled Nursing

ESI Brokers $7.6M Sale of Skilled Nursing Facility in Fort Collins, Colorado

by Jeff Shaw

FORT COLLINS, Colo. — Evans Senior Investments (ESI) has arranged the sale of a skilled nursing facility in Fort Collins for $7.6 million. The seller was an independent owner-operator. Although the number of beds was not released, the per-bed price of $79,166 equates to 96 beds. Initially built in 1968, the seller owned and operated the community for nearly two decades, achieving a four-star CMS rating. However, being its only skilled nursing facility, the company faced the challenges of today’s operating environment and lacked economies of scale. Upon marketing, the …

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ColoradoKansasNewsOperations

LTC Restructures Leases on 10 Brookdale Properties

by Jeff Shaw

WESTLAKE VILLAGE, Calif. — LTC Properties Inc. (NYSE: LTC), a Westlake Village-based REIT, has re-leased 10 of the 35 properties in its Brookdale Senior Living portfolio to Brookdale under a new master lease. This new master lease includes six properties in Colorado and four in Kansas. The six-year master lease will commence on Jan. 1, 2024. Rent in the first year is set at $8 million, escalating by approximately 2 percent annually. The lease includes a purchase option that can be exercised in 2029.  LTC also agreed to fund $4.5 …

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ColoradoFinanceMemory CareNews

Berkadia Arranges $14.4M Bridge Loan for Memory Care Community in Colorado Springs

by Jeff Shaw

COLORADO SPRINGS, Colo. — Berkadia has arranged the financing of a 72-bed memory care facility in Colorado Springs.  Jay Healy and Andrew Lanzaro of Berkadia Seniors Housing & Healthcare secured a $14.4 million bridge loan to retire the existing construction debt and transaction costs. Berkadia Seniors Housing & Healthcare was able to offer an 18-month, floating-rate, bridge-to-HUD loan to allow the borrower enough time to continue improving NOI to a level that will support a HUD refinancing. Berkadia Seniors Housing & Healthcare anticipates submitting the HUD application within 12 months. …

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ColoradoFinanceNews

Ziegler, M&T Partner on $105.6M Freddie Mac Refinancing for The Ridge Pinehurst in Lakewood, Colorado

by Jeff Shaw

LAKEWOOD, Colo. — Ziegler, in partnership with M&T Realty Capital Corp., advised on a $105.6 million Freddie Mac refinancing on behalf of The Ridge Senior Living. The loan is for The Ridge Pinehurst, a luxury independent living, assisted living and memory care community in Lakewood, a suburb of Denver. Ridge began opening the 371-unit community in phases starting in September 2020. The original 10-year, fixed-rate loan was structured with five years of interest-only payments, followed by 30-year amortization. The refinancing provided The Ridge with a long-term, fixed-rate loan to replace …

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Assisted LivingColoradoDevelopmentNews

Confluent, MorningStar Open 81-Unit Observatory Park Community in Denver

by Jeff Shaw

DENVER — Project partners Confluent Senior Living and MorningStar Senior Living have completed construction of MorningStar at Observatory Park. Located in Denver’s historic Observatory Park neighborhood, the 89,900-square-foot senior living community represents the partners’ 13th joint venture across five states. The five-story, urban infill community offers 58 assisted living and 23 memory care suites as well as 47 underground parking spaces. “The Observatory Park property is in the heart of one of Denver’s most central, tight-knit and vibrant neighborhoods where residents will benefit from convenient access to local parks, golf …

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AcquisitionsColoradoNewsOperationsSkilled Nursing

Ensign Group Takes Over Operations at Two Skilled Nursing Facilities in Colorado

by Jeff Shaw

AURORA and LAKEWOOD, Colo. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of Hampden Hills Post Acute, a 218-bed skilled nursing facility in Aurora, and Mapleton Post Acute, an 84-bed skilled nursing facility in Lakewood. Both properties are located in first-ring suburbs of Denver. Ensign has signed long-term, triple-net leases for both. The owner was not disclosed. These acquisitions bring Ensign’s growing portfolio to 290 healthcare operations, 26 of which also include senior living operations, across 13 states.  Ensign subsidiaries, including Standard Bearer, own 108 real estate …

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AcquisitionsActive AdultColoradoNews

Bascom Group Acquires 230-Unit Avenida Lakewood Active Adult Community in Colorado

by Jeff Shaw

LAKEWOOD, Colo. — The Bascom Group, in partnership with Artemis Real Estate Partners, has acquired Avenida Lakewood, a 230-unit active adult community in Lakewood, just west of Denver. Avenida Partners built the community in 2019. The price was not disclosed. Ryan Maconachy and Courtney Crowder at Newmark brokered the transaction. Brian Eisendrath, Cameron Chalfant, Jesse Zarouk and Jake Vitta of IPA arranged the debt financing for the acquisition through Santander Bank. Apartment Management Consultants will provide property management services. The property is located near recreation, retail and entertainment options against …

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ColoradoMemory CareNewsPeople

Anthem Memory Care Appoints Trisha Thomas as Executive Director for Community in Aurora, Colorado

by Jeff Shaw

AURORA, Colo. — Anthem Memory Care has named Trisha Thomas as executive director for Chelsea Place, a memory care community in Aurora. In this capacity, she will oversee all daily care, programming and operations. Thomas previously was executive director with Brookdale Westland Meridian in Lakewood. She also served as executive director for Pinehurst Park Memory Care in Denver. Thomas brings over 20 years of senior living and 15 years of nursing experience to this position. She earned an associate’s degree in nursing from Denver School of Nursing.

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