VINCENNES, Ind. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Gentlecare of Vincennes, a 60-bed skilled nursing facility in Vincennes, along the Illinois border approximately equidistant from Indianapolis, Louisville and St. Louis. A private mom-and-pop seller looking to retire sold the community to The Strategies, an Indiana-based owner-operator, for an undisclosed price. Ryan Saul of SLIB led the transaction.
PLAINFIELD, IND. — A partnership led by Indianapolis-based New City Development has unveiled plans for Hobbs Station, a $300 million mixed-use project in Plainfield, about 19 miles southwest of Indianapolis. Hobbs Station will be located on a 125-acre site just off U.S. Highway 40. At full build-out, Hobbs Station will feature 240 single-family homes, 650 multifamily units, 120 seniors housing residences, 70,000 square feet of retail and restaurant space, 540,000 square feet of logistics space and 200,000 square feet of build-to-suit office space. Phase I of the project will consist …
FORT WAYNE, Ind. — Lument has provided a $12.7 million FHA Sec. 232 note modification to refinance the existing debt on Park Place Senior Living, a 172-unit seniors housing community in Fort Wayne. David Boitano, managing director for Lument based in Seattle, led the transaction. The borrower is Sabra Health Care REIT. Park Place Senior Living consists of 158 assisted living beds in 132 units and 40 memory care beds/units. Traditions Management operates the community. “The FHA seniors housing note modification program proved to be an ideal solution that allowed …
INDIANAPOLIS — Sonida Senior Living has acquired two recently renovated senior living communities in metro Indianapolis for approximately $12.3 million. Core Redevelopment, a local multifamily developer and manager, acquired the communities in 2019 and immediately rebranded and repositioned the properties through interior and exterior renovations. Walker & Dunlop Investment Sales brokered the transaction. The communities, Northfield Senior Living and Southfield Senior Living, include 157 independent living units and are located approximately 20 minutes outside of downtown Indianapolis near major highways, stores and restaurants. The assets complement Sonida Senior Living’s existing …
DALLAS — The United Group of Cos. will take on property management duties at five luxury senior communities in Texas, Georgia and Indiana. The arrangement represents the latest in the organization’s expansion in this growing niche and represents the latest additions in what has been a period of growth for United Plus Property Management (UPPM), United Group’s management arm. The new deals center around three newly acquired Texas senior communities: NorthStar Georgetown, The Orchards Market Plaza and The Orchards Arlington Highlands. The organization will also manage day-to-day operations at two …
MISHAWAKA, Ind. — Sunshine Retirement Living has named Erika Hamilton as executive director at Heritage Point Assisted Living and Memory Care in Mishawaka, a suburb of South Bend near the Michigan border. Hamilton is a licensed healthcare facility administrator (HFA) with nearly a decade of experience in the senior living and healthcare industries. As executive director, Hamilton is responsible for all day-to-day management and operations of the community, including financials, marketing, government and community relations. She will also oversee all health and safety programs including new heightened procedures and protocols …
DANVILLE, Ind. — New Perspective has opened the doors on Woodland Terrace of Danville, a 164-unit senior living community in Danville, approximately 20 miles west of Indianapolis. The 35-acre campus includes 50 cottage-style townhomes and a main building for a variety of amenities. The property offers independent living, assisted living and memory care options. Along with sister properties in nearby Carmel and New Palestine, Minnesota-based New Perspective operates the community.
VALPARAISO, Ind. — Evergreen Real Estate Group has secured financing for Green Oaks of Valparaiso, a three-story, 120-unit assisted living community for low-income seniors in Valparaiso, approximately 45 miles southeast of Chicago. Development costs are estimated at $30 million. Evergreen Construction Co., a division of Evergreen Real Estate Group, will serve as general contractor on the development and plans to begin preliminary site work this month. Construction is scheduled for completion in early 2023. The project will offer 48 studio and 72 one-bedroom apartments, all of which will be reserved …
INDIANA — Evans Senior Investments (ESI) has arranged the sale of a 186-bed skilled nursing community in Indiana for $25 million, or $134,000 per bed. An independent owner-operator seeking to exit the long-term care industry sold the asset to a regional operator. The name of the facility was not disclosed. Built in the last 50 years, the community exhibited a large number of private rooms with all units being private or semi-private occupancy. Additionally, the community had a five-star Medicare rating and has historically been over 85 percent occupied. Despite …
GEORGETOWN, Ind. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Villas of Guerin Woods in Georgetown, a suburb of Louisville, Kentucky. The property offers primarily skilled nursing with some assisted living and memory care options across eight individual “small houses” with 10 units in each. A nonprofit organization seeking to exit its only seniors housing asset sold the community to a private regional company with 14 other communities in Indiana. The price was $4.3 million. Ryan Saul and Nick Cacciabando of SLIB handled the transaction. “This …
