Wednesday, December 18, 2024
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Delaware

HarborChase of Wilmington in Wilmington, Delaware
AcquisitionsAssisted LivingDelawareMemory CareNews

JLL Brokers $45M Sale of Luxury Seniors Housing Community in Delaware

by Channing Hamilton

WILMINGTON, Del. — JLL Capital Markets has arranged the $45 million sale of HarborChase of Wilmington, a luxury 96-unit assisted living and memory care community in Wilmington, roughly 30 miles southwest of Philadelphia. JLL represented the seller, a private equity firm, in the transaction. Harbor Retirement Associates will continue to manage the community for the buyer, a publicly traded real estate investment trust.  Originally constructed in 2018, HarborChase of Wilmington is one of the newest seniors housing communities in the state of Delaware and is the newest facility in its primary market by …

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DelawareFinanceNewsSkilled Nursing

CFG Provides $23.6M Refinancing for Skilled Nursing Facility in Delaware

by Jeff Shaw

DELAWARE — Capital Funding Group (CFG) has provided a $23.6 million bridge-to-HUD loan, which supported the refinancing of an existing bridge loan executed by CFG. The deal supported a 169-bed skilled nursing facility in Delaware.  Andrew Jones originated the transaction for the CFG. Further details on the property and borrower were not disclosed.

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AcquisitionsAssisted LivingDelawareNew JerseyNewsOperations

Juniper Communities Takes Over Management of Three Leisure Care Properties in New Jersey, Delaware

by Jeff Shaw

NEWARK, Del.; HAMILTON and WASHINGTON TOWNSHIP, N.J. — Juniper Communities has taken over management of three Leisure Care senior living properties providing assisted living and memory care. The three properties are part of Columbia Pacific Advisors’ seniors housing portfolio. The move adds 397 assisted living and memory care units and approximately 300 associates to Juniper’s current portfolio. Juniper Communities now owns and operates 28 communities in Colorado, New Jersey, Pennsylvania, Texas and Delaware. Juniper Village at Newark, formerly known as The Vero at Newark and built in 2023, offers assisted …

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AcquisitionsDelawareNewsSkilled Nursing

ESI Brokers $10M Sale of Courtland Manor in Dover, Delaware

by Jeff Shaw

DOVER, Del. — Evans Senior Investments (ESI) has arranged the sale of Courtland Manor, a skilled nursing community in Dover.  An independent owner-operator sold the asset for $10 million, or $142,857 per bed. The buyer was a New York-based owner-operator. Since its inception in 1986, Courtland Manor has been under the ownership and operation of the seller. It features 70 licensed beds and a five-star CMS rating. Courtland Manor has historically maintained high occupancy rates, boasting figures in the high 80 percent range prior to COVID-19. Despite the challenges posed …

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DelawareDevelopmentNews

LCS Completes Renovations at Three Communities in Delaware

by Jeff Shaw

WILMINGTON and NEWARK, Del. — Life Care Services (LCS) has completed renovations at Foulk Living and Shipley Living in Wilmington and Millcroft Living in Newark. In late 2021, LCS took over management of the senior living communities. In the early months, the communities rebranded and refocused on hospitality, community life opportunities and resident satisfaction. More recently, Foulk Living, Shipley Living, and Millcroft Living have undergone extensive physical renovations to provide each community with an updated, fresh, welcoming look. Renovations at Foulk Living included renovations to the lobby, corridors, sunlit “four …

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DelawareNewsPeople

LCS Names Kristopher Brown as Executive Director of Millcroft Living in Newark, Delaware

by Jeff Shaw

NEWARK, Del. — Life Care Services has named Kristopher Brown as executive director of Millcroft Living, a seniors housing community in Newark, located between Philadelphia and Baltimore. Brown 20 years of experience, starting as a caregiver. He earned a degree in health sciences with a minor in physics and then became a certified-dementia practitioner.

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DelawareNewsPeople

LCS Hires Leslie Johnson as Executive Director of Foulk Living in Wilmington, Delaware

by Jeff Shaw

WILMINGTON, Del. — Life Care Services has hired Leslie Johnson as executive director at Foulk Living, a seniors housing community in Wilmington.  Johnson has worked in senior living for 13 years. Having majored in dietetics in, she started her career as a dietitian in a large healthcare system. Her field of study had appealed to her because of the role that nutrition plays in disease management and prevention and, by extension, quality of life. Johnson has served as a healthcare administrator at several different sites.

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CCRCDelawareDevelopmentNews

Acts Starts $78M Expansion Project at Country House in Wilmington, Delaware

by Jeff Shaw

WILMINGTON, Del. — Acts Retirement-Life Communities has started a $78 million expansion at Country House, a senior living community in Wilmington. The project will add 20 new cottage homes, 62 independent living apartments and a clubhouse featuring a variety of new amenities to the campus, which is home to approximately 200 residents. The 2,100-square-foot cottages will feature stone finishes, open floor plans, fully appointed kitchens, covered patios and two-car garages. Phase II of the project includes an expanded clubhouse and residential apartments. The clubhouse will include new casual and fine …

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Affordable HousingDelawareFinanceNews

Lument Provides $8M in Freddie Mac Financing for Affordable Housing Conversion in Delaware

by Jeff Shaw

MIDDLETOWN and SMYRNA, Del. — Lument has provided an $8 million Freddie Mac unfunded forward commitment loan to the Delaware State Housing Authority (DSHA). The permanent financing will pay off construction and renovation debt for a portfolio of three properties. The 106-unit portfolio being renovated comprises Holly Square in Middletown and McLane Gardens and Peach Circle, both in Smyrna. The renovation project consists of substantial interior and exterior upgrades, as well as improved ADA compliance and accessibility for seniors. The three properties will convert from public housing to Section 8-assisted …

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