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Michigan

DevelopmentIndependent LivingMichiganNews

REDICO Opens 132-Unit American House Meridian in Michigan

by Jeff Shaw

HASLETT, Mich. — REDICO has opened American House Meridian, a seniors housing community in Haslett, which is located within Meridian Township just east of Lansing and Michigan State University. The community rises four stories and features 132 units of independent living, 50 of which were pre-leased prior to opening. Cunningham-Limp Development Co. built the community, with Banko Design as architect. The site is located near highways I-96 and I-69, five premier golf courses and two major hospital systems: McLaren and Sparrow.

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Affordable HousingFinanceMichiganNews

EBSC Lending Provides $26.2M Financing for a 41-Unit Affordable Community in Michigan

by Jeff Shaw

MICHIGAN — EBSC Lending has provided $26.2 million in financing for a 41-unit affordable seniors housing complex in Michigan.  The borrower, a nonprofit owner-operator, will use the proceeds to refinance existing debt and fund capital improvements. Specific upgrades will target unit interiors, building exteriors, elevators, common areas and building systems like security, backup electricity and medical alert. The community features a mix of predominantly one-bedroom units, with some studios and two-bedroom units. The redevelopment of the property will create new loft-style apartments. All 41 apartments will be reserved for low- …

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Affordable HousingDevelopmentMichiganNews

Cherry Health, Woda Cooper Plan 56-Unit Shea Ravines Affordable Community in Wyoming, Michigan

by Jeff Shaw

WYOMING, Mich. — Woda Cooper Cos. and Cherry Health have received tax credits from the Michigan State Housing Development Authority for development of Shea Ravines, a 56-unit affordable housing community in the Grand Rapids suburb of Wyoming. The $18.2 million project includes 20 permanent supportive housing (PSH) units for the formerly homeless. The site is adjacent to Cherry Health’s Wyoming Community Health Center. The development will provide one-bedroom and two-bedroom apartments for singles, families, and seniors who earn up to 80 percent of area median income The project is targeting …

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AcquisitionsMichiganNews

Blueprint Brokers Sale of 102-Unit Community in Western Michigan

by Jeff Shaw

WYOMING, Mich. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a seniors housing community in the Grand Rapids suburb of Wyoming. A privately held REIT focused primarily on private-pay seniors housing communities throughout the U.S. sold the asset to Commonwealth Senior Living. The price was not disclosed. The community was constructed in 2015 on a two-acre parcel adjacent to the University of Michigan-West Hospital campus. Michael Segal, Brooks Blackmon, Lauren Nagle and Daniel Waldhorn led the Blueprint team.

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AcquisitionsAssisted LivingMichiganNews

Commonwealth Acquires Community in Wyoming, Michigan

by Jeff Shaw

WYOMING, Mich. — Commonwealth Senior Living has acquired a seniors housing community in the Grand Rapids suburb of Wyoming.  The buyer will rebrand the community as Commonwealth Senior Living at North Byron. This marks the third community for Commonwealth in the Grand Rapids area joining Commonwealth Senior Living at Grand Rapids and Commonwealth Senior Living at East Paris. The community currently features 102 assisted living and memory care units. Commonwealth Senior Living is planning a renovation of the community, primarily focused on enhancing the secure memory care neighborhood. The seller …

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DevelopmentFinanceMichiganNews

Colliers Arranges $21.6M Construction Loan for Development in Muskegon, Michigan

by Jeff Shaw

MUSKEGON, Mich. — Colliers has arranged $21.6 million in construction financing for a seniors housing project in Muskegon, located west of Grand Rapids and directly across Lake Michigan from Milwaukee. The property will feature 105 units of independent living, assisted living and skilled nursing in a combination of studio, one-bedroom and two-bedroom units.   The term of the loan is 48 months with one twelve-month extension option. Christopher Fenton and Catherine Eby of the seniors housing team of Colliers Mortgage, in conjunction with Nick Skarich and Kevin McMahon of Colliers Funding …

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DevelopmentIndependent LivingMichiganNews

Resort Lifestyle Communities Opens 128-Unit Willow Pines in Northville, Michigan

by Jeff Shaw

NORTHVILLE, Mich. — Resort Lifestyle Communities has opened Willow Pines, an independent living community in Northville, approximately 25 miles northwest of Detroit. Willow Pines offers 128 apartments in studio, one-, two- and three-bedroom options. Resort Lifestyle Communities, founded in 2001 and based in Lincoln, Nebraska, develops all-inclusive, resort-style communities for adults age 55 and over.

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AcquisitionsAssisted LivingMichiganNews

SLIB Brokers Sale of 122-Unit Portfolio in Michigan

by Jeff Shaw

HARTLAND and GRAND BLANC, Mich. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a portfolio of two assisted living and memory care communities in Michigan. The assets are located in Harland and Grand Blanc, both south of Flint. The two properties feature a combined 122 units.   The seller was a local development partnership looking to exit the industry. The buyer was a growing Michigan-based provider looking for newer, value-add opportunities. The price was not disclosed. Bradley Clousing and Daniel Geraghty led the transaction for SLIB.

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AcquisitionsAssisted LivingMichiganNews

SLIB Brokers Sale of 122-Unit Bella Vita Portfolio in Michigan

by Jeff Shaw

HARTLAND and GRAND BLANC, Mich. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two Bella Vita-branded seniors housing communities in Michigan. The communities are located approximately 26 miles from each other between Detroit and Flint. Bella Vita – Hartland is located on 6.8 acres and totals 41,534 square feet of livable area, with 61 units offering both assisted living and memory care. Bella Vita- Grand Blanc is located on 4.65 acres and totals 41,508 square feet of livable space, with 61 units also providing both assisted living …

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Assisted LivingDevelopmentMichiganNews

Commonwealth Senior Living Completes $6.5M Community Expansion in New Baltimore, Michigan

by Jeff Shaw

NEW BALTIMORE, Mich. — Commonwealth Senior Living has completed a $6.5 million expansion of its community in New Baltimore, located near Anchor Bay approximately 30 miles northeast of Detroit. The renovations to Commonwealth Senior Living at New Baltimore included a two-story addition, enlarged common areas and a capacity for 23 additional residents in memory care and 45 in assisted living.

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