Georgia

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Affordable HousingDevelopmentGeorgiaNews

McShane Completes Construction of 80-Unit Affordable Housing Community in Metro Atlanta

by Hayden Spiess

UNION CITY, Ga. — McShane Construction Co. has completed work on Crossing Pointe, a new affordable seniors housing community located in Union City, roughly 20 miles southwest of downtown Atlanta.  McShane served as the general contractor on behalf of the developer, National Church Residences.  Residences at the four-story property will be reserved for senior households earning at or below 50 to 60 percent of the area median income.  Financing for the project included a $1 million loan from the GoATL Fund through the Community Foundation for Greater Atlanta. The Georgia Department …

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The-Sheridan-at-Eastside_Snellville-Ga
FinanceGeorgiaIllinoisNews

Two Senior Lifestyle Communities Undergo Recapitalization

by Hayden Spiess

NORTHBROOK, Ill. and SNELLVILLE, Ga. — Two Senior Lifestyle communities have undergone recapitalization. Senior Lifestyle was the original developer of the communities, which the company continues to operate on behalf of the current ownership.  The communities include North Shore Place in Northbrook, Illinois, and The Sheridan at Eastside in Snellville, Georgia.  North Shore Place was originally opened in 2014 with 156 units. Currently, the property comprises 188 assisted living and memory care residences.  The Sheridan at Eastside totals 214 units situated on a 15-acre campus. Opened in 2019, the community features …

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AcquisitionsGeorgiaNews

LTC Properties Acquires Atlanta Portfolio for $108M

by Hayden Spiess

ATLANTA — LTC Properties (NYSE: LTC) has acquired a seniors housing portfolio located in Atlanta for $108 million.  The portfolio comprises roughly 400 independent living, assisted living and memory care units across three properties. Built between 2014 and 2018, the communities were 92 percent occupied at the time of acquisition.  The Arbor Co. manages the communities and will be retained by LTC as the operator.  This marks the first seniors housing operating portfolio (SHOP) acquisition for LTC this year. The REIT’s portfolio currently features approximately 190 properties throughout the U.S. 

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Dogwood-Trail-Apartments-II_Albany-Ga
Affordable HousingDevelopmentGeorgiaNews

Lockwood Cos. Breaks Ground on Affordable Community in Southwest Georgia

by Hayden Spiess

ALBANY, Ga. — Lockwood Cos. has broken ground on a new affordable seniors housing community in Albany, a city in southwest Georgia.  Upon completion, Dogwood Trail Apartments II will feature 20 one-bedroom apartments and 20 two-bedroom apartments. Units will be reserved for residents age 55 and older earning at or below 30, 50, 60 and 70 percent of the area median income.  This project marks the second phase of a master planned redevelopment of the area.  Completion of construction is scheduled for winter 2027. 

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AcquisitionsAssisted LivingGeorgiaMemory CareNews

Berkadia Arranges Sale of 73-Unit Assisted Living, Memory Care Community in Metro Atlanta

by Hayden Spiess

DECATUR, Ga. — Berkadia has arranged the sale of Benton House Decatur, an assisted living and memory care community located in Decatur, approximately 10 miles northeast of downtown Atlanta. Principal Senior Living Group — a Georgia-based developer, owner and operator — sold the community to an undisclosed buyer.  The community was fully occupied at the time of sale.  Moving forward, the property, which totals 73 units, will be rebranded as The Retreat at Decatur. Phoenix Senior Living will operate the community on behalf of the new ownership.  Ross Sanders, Dave Fasano, Cody …

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Company NewsGeorgiaNew YorkNews

Town Lane, Kelly Sheehy to Launch New Seniors Housing Platform

by Hayden Spiess

ATLANTA and NEW YORK CITY — Town Lane and Kelly Sheehy will launch a new seniors housing platform targeting value-add and opportunistic senior living acquisitions across the country. Dubbed Arcole, the platform will be led by managing partner Sheehy and based in Atlanta.  Arcole will operate in partnership with New York City-based Town Lane. Sheehy, who previously served as senior managing director and co-portfolio manager of Artemis Real Estate Partners’ healthcare fund platform, brings more than 20 years of seniors housing experience to the new venture.  “Arcole, in partnership with Town …

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Atlanta-Civic-Center-Redevelopment
Affordable HousingDevelopmentFinanceGeorgiaNews

KeyBank Arranges $72.8M Financing for Affordable Redevelopment in Atlanta

by Hayden Spiess

ATLANTA — KeyBank Community Development Lending and Investment (CDLI) has arranged $72.8 million in financing for the first phase of the redevelopment of Atlanta Civic Center. The borrower, Civic Center Partners, is converting a portion of the property into a 148-unit affordable seniors housing community.  Civic Center Partners — a joint venture between The Michaels Organization, Sophy Cos. and Republic Properties — is partnering with Atlanta Housing, which owns the Atlanta Civic Center, on the project.  KeyBank CDLI provided a $39.1 million taxable construction loan and $25.2 million in federal low-income …

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Atlanta-Skilled-Nursing
AcquisitionsGeorgiaNewsSkilled Nursing

SLIB Arranges Sale of 100-Bed Skilled Nursing Facility in Atlanta

by Hayden Spiess

ATLANTA — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 100-bed skilled nursing facility located in Atlanta.  A national seniors housing and long-term care owner sold the property to a Northeast-based owner and operator for an undisclosed price. The buyer plans to relocate the licensed beds within the county.  Daniel Geraghty, Bradley Clousing and Nick Cacciabando of SLIB brokered the transaction on behalf of the seller. 

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Affordable HousingDevelopmentFinanceGeorgiaNews

Columbia Residential Secures Financing for $28.4M Renovation Project at Affordable Community in Atlanta

by Hayden Spiess

ATLANTA — Columbia Residential has secured financing for a $28.4 million renovation and preservation project at Columbia Senior at MLK Village, an affordable seniors housing community located in Atlanta.  Originally developed in 2007 in partnership with Ebenezer Building Foundation, Columbia Senior at MLK Village features 121 units for residents age 62 and older. The preservation project will rehabilitate the community and upgrade amenities at the property.  Atlanta Housing has committed 121 HomeFlex vouchers for 20 years to the community. Funding for the renovation includes tax-exempt bond financing issued by Invest Atlanta, …

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FinanceGeorgiaNewsPennsylvania

BWE Arranges $52M Bridge Financing for Senior Living Portfolio

by Hayden Spiess

ATLANTA and PHILADELPHIA — BWE has arranged a $52 million bridge loan to finance a portfolio of senior living communities located within the Atlanta and Philadelphia metros.  The portfolio comprises independent living, assisted living and memory care properties.  Ryan Stoll and Taylor Mokris of BWE secured the three-year, floating-rate financing on behalf of the undisclosed borrower. 

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