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SLIB Arranges Sale of Five Communities Across Two Transactions

by Jeff Shaw

CHICAGO — Senior Living Investment Brokerage (SLIB), a Chicago-based brokerage firm, has arranged the sale of five communities totaling 440 units across two separate transactions. In the first acquisition, SLIB arranged the sale of four communities in Kokomo, Ind.; Pueblo, Colo.; Stillwater, Okla.; and Cheyenne, Wyo. The assets total 351 units and the portfolio averages 87 percent occupancy. The seller was a long-standing provider of seniors housing with a portfolio of over 30 communities. The buyer was a regional private equity group focused on the seniors housing space that aligned …

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ColoradoDevelopmentNews

OZ Architecture Completes Design of The Reserve at Lone Tree in Colorado

by Jeff Shaw

LONE TREE, Colo. — OZ Architecture has completed the design of The Reserve at Lone Tree, located within the RidgeGate master-planned community in Lone Tree. Experience Senior Living Development (ESLD), a NexCore company, is a partner on the project. The community will offer 124 independent living units in a nine-story building alongside 60 assisted living and 24 memory care units in an attached five-story building. The project is scheduled break ground in fourth-quarter 2022, with anticipated completion in 2024. Independent living units will be up to 1,930 square fee, while …

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AcquisitionsColoradoIndependent LivingNews

ESI Arranges Sale of 120-Unit Kipling Meadows in Arvada, Colorado

by Jeff Shaw

ARVADA, Colo. — Evans Senior Investments (ESI) has arranged the sale of The Kipling Meadows, a 120-unit independent living community in the first-ring Denver suburb of Arvada. Built in 2008 with a renovation in 2018, Kipling Meadows averaged 86 percent occupancy in the three months prior to sale. “With the community recently recovering occupancy back to 90 percent in just the latest month, the Evans Senior Investments team was able to showcase the potential upside for a new ownership group by forecasting a 6 percent rental rate increase,” says Hank …

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ColoradoDevelopmentFinanceMinnesotaNews

Northmarq Arranges $50M in JV Equity for Four Developments in Minnesota, Colorado

by Jeff Shaw

MINNEAPOLIS — Northmarq has secured $50 million in joint-venture equity for a four-property seniors housing development pipeline in Minnesota and Colorado. Equity was procured on behalf of the developer, Minneapolis-based United Properties. The joint-venture partner is a private equity group. The Northmarq team members that facilitated the equity and debt financing included Patrick Minea, Joel Heikenfeld, Dave Link and Stuart Oswald. All four assets are under United Properties’ Amira brand and are in various states of construction and lease-up. The projects include: Amira Bloomington, a 133-unit active adult community in …

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Affordable HousingColoradoDevelopmentNews

TWG Plans $15.2M Residences at Delta Affordable Community in Colorado

by Jeff Shaw

DELTA, Colo. — TWG has unveiled plans for Residences at Delta, a $15.2 million affordable multifamily complex for seniors. Residences at Delta will be a two-story, 50-unit complex near Mountain View Park and Sweitzer Lake State Park. The project offers one-bedroom apartments reserved for seniors 62 years and older who earn up to 60 percent of the area median income (AMI). Constructed in partnership with Delta Housing Authority, the project seeks to bridge the generational gap between seniors, their families and youth in the community. Construction of the project is …

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Affordable HousingColoradoDevelopmentFinanceNews

Lument Provides $5.9M Fannie Mae Construction Loan for Lynwood Senior Apartments in Denver

by Jeff Shaw

DENVER — Lument has provided a $5.9 million Fannie Mae affordable loan to fund the construction of Lynwood Senior Apartments. The property will feature 62 units of affordable housing for seniors in a three-story building on nearly an acre. Construction of the community will be facilitated via a 30-month taxable forward commitment Fannie Mae affordable loan structured as a 9 percent Low-Income Housing Tax Credit (LIHTC) mortgage-backed securities (MBS) exchange. The Fannie Mae loan features a fixed interest rate, 15-year term and 35-year amortization. Additional funding sources include a construction …

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ColoradoDevelopmentNews

Experience Senior Living Plans 200-Unit Reserve at Lone Tree in Colorado

by Jeff Shaw

LONE TREE, Colo. — Experience Senior Living Development (ESLD), a NexCore-owned company, has unveiled plans for The Reserve at Lone Tree, a 200-unit seniors housing community in Lone Tree, approximately 15 miles south of Denver. Construction is scheduled to begin on the nine-story property in the fourth quarter of this year for completion in 2024. The community will feature 125 independent living units, 60 assisted living units and 24 memory care units. The site is located within RidgeGate, a 3,500-acre mixed-use community. Independent living units will be up to 1,650 …

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CCRCColoradoDevelopmentNews

PMMA Breaks Ground on $140M Aberdeen Ridge CCRC in Colorado Springs

by Jeff Shaw

COLORADO SPRINGS, Colo. — Presbyterian Manors of Mid-America (PMMA) has broken ground on Aberdeen Ridge, a continuing care retirement community (CCRC) campus in Colorado Springs. In 2018, PMMA acquired a Texas nonprofit corporation, which owned an undeveloped 15.3-acre site within Garden of the Gods National Park, and which already had the permits and approvals for a senior living community. Aberdeen Ridge is scheduled for completion in 2023 and will feature 171 one- and two-bedroom independent living residences, 40 assisted living apartments and 24 memory care suites. The homes will vary …

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CaliforniaColoradoFinanceIowaNews

Monticello Provides $89M Refinancing for 1,188-Bed Portfolio in California, Colorado, Iowa

by Jeff Shaw

NEW YORK CITY — Monticello and its affiliates have provided $89 million in first-lien debt financing for the refinancing of 10 skilled nursing facilities and one assisted living facility. Totaling 1,188 beds, the portfolio is located in California, Colorado and Iowa. Further details were not disclosed.

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ColoradoNewsPeopleUtah

The Ridge Senior Living Transitions to Self-Management, Appoints New CEO

by Jeff Shaw

REDONDO BEACH, Calif. — The Ridge Senior Living, a Redondo Beach-based owner-operator, has announced its plans to transition to self-management on Jan. 1. As a part of the management change, The Ridge also promoted Mandy Hampton to the role of CEO, effective immediately. Hampton joined The Ridge Senior Living as COO in 2017, after nearly 20 years in senior living. She has overseen the expansion of The Ridge system from two standalone assisted living and memory care communities in Utah to Colorado, where the company recently opened The Ridge Pinehurst, …

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