MACOMB, Ill. — Lancaster Pollard has provided a $9.5 million refinancing for Grand Prairie of Macomb, an 84-unit supportive living facility in Macomb, located in the western part of the state approximately 150 miles north of St. Louis. Grand Prairie was originally constructed in 2007 with an addition built in 2013. The FHA Section 232/223(f) financing, which paid off a recent acquisition loan, features a fixed interest rate of less than 2.5 percent and will result in debt service savings. Brett Murphy led the transaction for Lancaster Pollard, a division …
Illinois
HIGHLAND PARK, Ill. — Capitol Seniors Housing has opened Atria Highland Park, an assisted living and memory care community in the Chicago suburb of Highland Park. The three-story, 72,000-square-foot community features 86 residential apartments on a 2.6-acre site. The operator is Atria Senior Living. Mosely Architects designed the project, while StudioSIX5 handled interior design. “Overlooking Sunset Valley Golf Club and located just south of Sunset Woods Park, the new community is also near medical facilities, downtown Highland Park shops and restaurants, a post office and many more local amenities,” says …
Anthem Memory Care Appoints Caitlin Terrell as Executive Director for Community in Glenview, Illinois
by Jeff Shaw
GLENVIEW, Ill. — Anthem Memory Care has named Caitlin Terrell as executive director of Emerald Place, a community in Glenview, approximately 18 miles northwest of Chicago. Terrell previously was executive director of Jacob Healthcare Center in San Diego, California. A Certified Dementia Practitioner and Licensed Clinical Social Worker, she has also served as the social services director and regional consultant in skilled nursing and post-acute settings. Terrell earned a master’s degree in social work from Loyola University of Chicago and a bachelor’s degree in social work from the University of …
LA GRANGE, Ill. — Pathway to Living has opened Aspired Living of La Grange, a 117-unit assisted living and memory care community in La Grange, approximately 13 miles southwest of downtown Chicago. Totaling five stories and 118,583 square feet, the community features 85 assisted living and 32 memory care units. Pathway to Living is a Chicago-based developer, owner and operator of seniors housing communities and the seniors housing arm of Chicago-based real estate investor and operator Waterton. This is the company’s 23rdcommunity in Chicagoland. Thoma Holec provided interior design services, …
ALGONQUIN, Ill. —McShane Construction Co. has started building The Oaks at Algonquin, an independent living, assisted living and memory care community in Algonquin, a northwest suburb of Chicago. The three-story property will feature a total of 166 units. It is scheduled for completion in January 2022. Spectrum Retirement Communities is the property’s developer, and Vessel Architecture is the designer.
Walker & Dunlop Arranges $14.6M Refinancing for Skilled Nursing Facility in Aurora, Illinois
by Jeff Shaw
AURORA, Ill. — Walker & Dunlop Inc. has arranged a $14.6 million loan for the refinancing of The Vistas Fox Valley in Aurora. The 136-bed skilled nursing facility offers full medical support and rehabilitation services for seniors age 65 and older. Amenities include an onsite spa and salon, dining services, transportation options, family lounges and 24-hour medical assistance. Joshua Rosen of Walker & Dunlop led the origination team. The HUD loan will replace existing debt previously provided by Walker & Dunlop’s bridge lending program.
Lancaster Pollard Provides $16.9M Refinancing for Assisted Living Community Near Chicago
by Jeff Shaw
BATAVIA, Ill. — Lancaster Pollard Mortgage Co., a division of ORIX Real Estate Capital, has provided a $16.9 million HUD refinancing for Heritage Woods of Batavia, a 148-unit affordable assisted living community in the Chicago suburb of Batavia. The borrower is Gardant Management. Brett Murphy led the transaction for Lancaster Pollard.
MAYWOOD, Ill. — Evergreen Real Estate Group has completed $7 million in renovations to Garden House of Maywood, a 144-unit affordable seniors housing community in the western Chicago suburb of Maywood. Housing and Human Development Corporation (HHDC) acquired the 10-story building in 2018 using tax credits to help fund capital improvements. Evergreen has managed since 2017, and Evergreen Construction Co. managed the nine-month project. The phased renovations allowed residents to remain in their homes during construction. All residential units were updated with new windows and window treatments. Sinks, cabinetry, countertops, …
High Street Residential Completes 169-Unit Active Adult Community in Evanston, Illinois
by Jeff Shaw
EVANSTON, ILL. — High Street Residential, a subsidiary of Trammell Crow Co., has completed Avidor Evanston, a 169-unit active adult community in Evanston. The community, reserved for residents 55 years of age or older, offers a mix of one- and two-bedroom units in an 18-story high-rise. Amenities include a bistro bar, business center, activity center, pet spa, dog run, fitness center, theater room and chef’s kitchen. On the top floor, residents have access to a rooftop deck with a pool and fire pits. Allegro Management Co. operates the property.
NAPERVILLE, Ill. — McShane Construction Co. has completed construction of Avenida Naperville, an active adult community in Naperville, a western suburb of Chicago. The apartments are reserved for those age 62 and older. The community features 13,000 square feet of amenity space. Designed by Meeks + Partners, the property incorporates a total of 146 apartments across six two- and three-story buildings.