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Affordable HousingDevelopmentIllinoisNews

Evergreen Real Estate Group Tops Off 80-Unit Affordable Development in Metro Chicago

by Hayden Spiess

FRANKLIN PARK, Ill. — Evergreen Real Estate Group has topped off Leyden Senior Apartments, an 80-unit independent living development currently underway in Franklin Park, a western suburb of Chicago.  Designed by Weese Langley Klein Architects, Leyden Senior Apartments will feature 72 one-bedroom and eight two-bedroom residences. Units will be reserved for seniors age 62 or older earning at or below 60 percent of the area median income. Pre-leasing is scheduled to begin in spring 2026, with delivery planned for that summer. F.H. Paschen is serving as the project’s general contractor.  Amenities …

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ArizonaCompany NewsIllinoisNewsOklahomaOperations

Grace Management Adds Five Ventas Communities to Operating Portfolio 

by Hayden Spiess

MAPLE GROVE, Minn. — Grace Management Inc. has added five Ventas-owned senior living communities to its operating portfolio.  Previously managed under a triple-net-lease structure by Brookdale Senior Living, the communities include The Hallmark in Chicago; Inspirations of Northbrook in Northbrook, Illinois; Inspirations of Mesa in Mesa, Arizona; Inspirations of Peoria in Peoria, Arizona; and Inspirations of Bartlesville in Bartlesville, Oklahoma. Each of the properties features assisted living residences, with some of the communities offering independent living apartments as well.  Plans for the communities include a multi-million-dollar renovation at The Hallmark in …

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AcquisitionsIllinoisNews

SLIB Arranges $17.5M Sale of Three-Community Portfolio in New Jersey 

by Hayden Spiess

WHEATON, Ill. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a portfolio of three assisted living and memory care communities located in Western New Jersey. The sales price was $17.5 million.  Together, the properties total 214 units, with each community comprising roughly 70 units.  Ryan Saul, Toby Siefert and Patrick Burke of Illinois-based SLIB brokered the transaction on behalf of the undisclosed seller. A large regional owner acquired the portfolio, marking its first purchase in the state of New Jersey. 

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DevelopmentIllinoisMemory CareNewsSkilled Nursing

Wold Architects & Engineers Completes Expansion at 120-Bed Skilled Nursing Facility in Illinois

by Hayden Spiess

MCHENRY COUNTY, Ill. — Wold Architects & Engineers has completed an expansion project at Valley Hi Nursing & Rehabilitation in McHenry County Illinois. Wold designed the addition of a new dining room, kitchen and support spaces to accommodate a new memory care unit at the 120-bed skilled nursing facility. Residents rooms were updated with new interior finishes lighting and furnishing, and the project also included a walking path and indoor and outdoor gathering spaces.  McHenry County owns the facility.  “This project is a great example of how design can support both …

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CCRCCompany NewsIllinoisIowaNews

LCS Expands CCRC Portfolio Through Strategic Merger With Vi

by Lynn Peisner

DES MOINES and CHICAGO — LCS, the third largest U.S. seniors housing operator, has entered into a strategic merger agreement to acquire Vi, an operator of 10 luxury continuing care retirement communities (CCRCs) across the country. Headquartered in Chicago, Vi is a hospitality-inspired senior living company with over 3,000 employees serving more than 4,000 residents. Vi’s CCRCs are located in six states: Arizona, California, Colorado, Florida, Illinois and South Carolina. The company was founded in 1987 as Classic Residence by Hyatt by Penny Pritzker and rebranded as Vi in 2010. …

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AcquisitionsIllinoisNew YorkNews

Harrison Street Sells New York Seniors Housing Portfolio for $600M

by Hayden Spiess

CHICAGO — Investment management firm Harrison Street Asset Management has sold a portfolio of seniors housing communities located in the state of New York for more than $600 million. The buyer was not disclosed, but multiple media outlets report the buyer was senior living giant Ventas Inc. (NYSE: VTR). The portfolio comprises five communities. Harrison Street developed the properties in partnership with B2K Development between 2016 and 2022. Amenities at the communities include swimming pools, theaters, fitness centers, libraries and lifestyle programming.  “This transaction exemplifies Harrison Street’s ability to produce value by …

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ColoradoFinanceIllinoisNews

Spectrum Retirement Receives $330M Refinancing for Seniors Housing Portfolio in Midwest, Southwest

by Hayden Spiess

DENVER — Spectrum Retirement, a Denver-based seniors housing owner-operator, has received $330 million for the refinancing of a portfolio of eight seniors housing properties that are located across the Midwest and Southwest U.S. Ryan Stoll and Taylor Mokris of BWE, a national commercial and multifamily mortgage banker, arranged the financing on behalf of Spectrum Retirement. The nonrecourse debt was structured with full-term interest-only payments and a “competitive” interest rate. “We are honored that Spectrum chose BWE to represent them in the debt capital markets for such a complex transaction,” says …

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Company NewsIllinoisNewsPeople

Covenant Living Names Tony Galvan Vice President of Resident Experience

by Hayden Spiess

SKOKIE, Ill. — Tony Galvan has joined Covenant Living Communities and Services as vice president of resident experience. Covenant is a non-profit, faith-based senior living organization. In this new role, Galvan is responsible for working with the organization’s 20 communities in all areas impacting resident life, ranging from wellness initiatives to lifestyle programming and more.  While Covenant has always placed a strong emphasis on enhancing the resident experience, this is the first leadership position to spearhead those efforts under the umbrella of operations, according to the organization. Galvan has more than …

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Company NewsIllinoisNewsPeople

Kiser Group Launches New Seniors Housing Division

by Hayden Spiess

CHICAGO — Multifamily brokerage firm Kiser Group has launched a new seniors housing division. As part of the new division, industry veteran Mark Myers will join the firm as partner.  Myers brings more than 30 years of experience. Since 1995, he has closed more than 800 seniors housing transactions totaling over $12 billion.  “Mark is one of the most accomplished brokers in the seniors housing space and we’re excited to partner with him launching seniors housing brokerage at Kiser Group,” says Lee Kiser, principal and managing broker at Kiser Group. “His leadership …

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Company NewsIllinoisNewsTechnology

Charter Partners With LifeLoop to Support Memory Care Program

by Hayden Spiess

NAPERVILLE, Ill. — Owner and operator Charter Senior Living has announced a new strategic partnership with LifeLoop, a senior living technology company.  Illinois-based Charter, which has a portfolio of 72 senior living communities, has deployed a LifeLoop resident engagement solution to support its Flourish Memory Care program for adults with Alzheimer’s and other forms of dementia.  Charter communities now use the 1N2L by LifeLoop solution, which offers cognitive care content and programming with more than 7,000 curated experiences.  “LifeLoop enables our community teams to deliver personalized enrichment programming at a scale …

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