Michigan

Bayview PACE Provides $4.3M in C-PACE Funds for Seniors Housing Property in Metro Detroit

by Channing Hamilton October 7, 2024

TAYLOR, Mich. — Bayview PACE has provided $4.3 million in commercial property-assessed clean energy (C-PACE) financing for the 81-unit Hampton Manor of Taylor seniors housing community, located about 17 miles southwest of Detroit. The sponsor was Build Senior Living, the development arm of Hampton Manor Assisted Living. The 81-unit Hampton Manor of Taylor is situated on a six-acre landscaped site that includes 60 parking spaces. Licensed for 102 beds, Hampton Manor-Taylor features 65 assisted living units and 16 memory-care units with extra capacity for second persons and/or additional companion units. …

October 7, 2024

Lockwood of Ann Arbor in Ann Arbor, Michigan

Development Independent Living Michigan News

Lockwood Cos. Opens 154-Unit Independent Living Community in Ann Arbor, Michigan

by Channing Hamilton September 12, 2024

ANN ARBOR, Mich. — Lockwood Cos., a developer and manager of senior living communities, has opened Lockwood of Ann Arbor. With a focus on independent living, the community features 154 senior apartments, with 65 of these units designated as affordable housing. Households earning up to 60 percent of area median income will be eligible for the affordable units. The $47 million development is designed to provide high-quality, accessible living for seniors in Washtenaw County, addressing the growing need for seniors housing as the local population continues to age. The facility is equipped …

September 12, 2024

Alabama Finance Independent Living Michigan News Oklahoma Tennessee

JLL Arranges $115M Bridge Financing for Town Village Independent Living Portfolio

by Jeff Shaw August 30, 2024

DUBLIN, Ohio — JLL Capital Markets has secured a $115 million bridge financing for a portfolio of four Town Village independent communities totaling 852 units spanning across Alabama, Tennessee, Oklahoma and Michigan. JLL represented the borrowers, Chicago Pacific Founders and Grand Park Capital, in arranging the three-year, nonrecourse loan through Ally Bank. The properties were built between 2000 and 2002 and have all undergone renovations by the borrowers. Jay Wagner, Rick Swartz, Joel Mendes, Dan Kearns, Jim Dooley and Robert Tonnessen led the JLL team.

August 30, 2024

Acquisitions CCRC Michigan News

Blueprint Brokers Sale of 374-Unit Samaritas CCRC in Grand Rapids, Michigan

by Jeff Shaw August 28, 2024

GRAND RAPIDS, Mich. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a continuing care retirement community (CCRC) in Grand Rapids. Blueprint was selected by Samaritas, a Michigan-based nonprofit owner and operator, to negotiate the disposition. Since its original construction in 1977, the 40-acre community has grown to include 24 independent living cottages, 148 independent living apartments, 17 assisted living units, a 60-unit memory care community, and a 125-bed skilled nursing and long-term care facility. The buyer was Optalis Healthcare, a post-acute rehabilitation and long-term care provider across …

August 28, 2024

Acquisitions Michigan News Skilled Nursing

ESI Brokers Sale of 108-Bed Countryside Care Center in Jackson, Michigan

by Jeff Shaw August 15, 2024

JACKSON, Mich. — Evans Senior Investments (ESI) has arranged the sale of Countryside Care Center, a skilled nursing facility in Jackson. The transaction was executed on behalf of an independent owner-operator looking to recycle capital and exit the industry. Countryside Care Center is situated 40 miles west of Ann Arbor and 35 miles south of Lansing. The facility was built in 1968 and licensed for 108 skilled nursing beds. Despite its longstanding presence, the center was facing challenges at the time of marketing, operating only 80 of its beds with …

August 15, 2024

Finance Michigan News

Ziegler Arranges $52.1M Bond Financing for Sunset Manor Owner-Operator in Michigan

by Jeff Shaw August 12, 2024

JENISON, Mich. — Ziegler has arranged $52.1 million in bond financing for Sunset Manor Inc., a nonprofit owner-operator based in the West Michigan city of Jenison. Sunset Manor was established in 1973 to care for the elderly residents of West Michigan and beyond. Sunset owns and operates four facilities in Jenison, Grandville and Grand Haven. Per the 2023 LeadingAge Ziegler 200, Sunset Manor is the 138th largest nonprofit senior living provider in the nation with a total of 696 units consisting of 384 independent living units and 312 assisted living units. …

August 12, 2024

Development Indiana Investment Kentucky Michigan News Ohio

Trilogy Health Services Announces Expansion Plans in Indiana, Kentucky, Michigan, Ohio

by Jeff Shaw July 31, 2024

LOUISVILLE, Ky. — Trilogy Health Services has announced an investment plan to develop and expand senior living and assisted living services in Indiana, Kentucky, Michigan and Ohio. The investment aims to help address the growing demand for senior living accommodations and services. The plan includes expanding facilities across several states and developing a new campus. Trilogy will kick off its patio home expansions this summer in Sylvania, Ohio, with 26 new independent living patio homes for seniors at The Lakes of Sylvania. The expansion is projected to start in July …

July 31, 2024

Acquisitions Michigan News

Walker & Dunlop Brokers Sale of Three-Property Portfolio in Michigan

by Jeff Shaw July 26, 2024

OAKLAND COUNTY, Mich. — Walker and Dunlop Investment Sales (WDIS) has arranged the sale of Blossom Village, Blossom Ridge and Blossom Springs, a senior living portfolio located in Oakland County, approximately 35 miles northwest of Detroit. This portfolio encompasses a total of 245 luxury villas, independent living, assisted living and memory care units. The Moceri family sold the assets to StoryPoint Group for an undisclosed price. Built in 2019 by the Moceri family, the portfolio is now known as the Flourish Collection by StoryPoint Group and will be added to …

July 26, 2024

Acquisitions Assisted Living Michigan News

JLL Negotiates Sale of Two-Property Portfolio in Metro Detroit

by Jeff Shaw July 12, 2024

TROY and ROCHESTER HILLS, Mich. — JLL has arranged the sale of Anthology of Troy and Anthology of Rochester Hills, two seniors housing communities totaling 184 units in the Detroit metro area. A partnership between MedCore and American House acquired the assets for an undisclosed price. American House will operate both communities. The now-renamed American House Somerset and American House Hampton Village are two-story assisted living and memory care communities with 93 and 91 units, respectively. They were completed in 2017 and 2018, respectively. Jay Wagner, Rick Swartz and Jim …

July 12, 2024

Acquisitions Assisted Living Michigan News Operations

Arrow Takes Over Management of University Senior Living in Ann Arbor, Michigan

by Jeff Shaw May 1, 2024

ANN ARBOR, Mich. — Arrow Senior Living has assumed management of University Senior Living, expanding its Midwest reach. Located near the University of Michigan campus in Ann Arbor, University Senior Living features 63 assisted living units and 12 memory care apartments. Arrow Senior Living’s portfolio includes 37 communities, with several in development, across the Midwest. The addition of University Senior Living marks Arrow’s expansion into the Michigan market.

May 1, 2024

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