WELDON SPRING, Mo. — New Perspective has opened a leasing office at its new community in Weldon Spring, approximately 30 miles west of St. Louis. The community is scheduled to open this summer. “We are looking forward to the opening of our first location in the St. Louis area,” says New Perspective co-CEO Ryan Novaczyk. The community will offer independent living, assisted living and memory care services. The number of units was not disclosed.
GREENVILLE, S.C.; SEATTLE; SPRINGFIELD, Mo.; TUKWILA, Wash.; and HILLSBORO, Ore. — Seattle based Merrill Gardens has added four existing communities to its portfolio, along with one new community under construction. The privately held company now operates 65 communities in 17 states. The first community is Merrill Gardens at Greenville. The newly opened independent living community features 129 studio, one- and two-bedroom apartments. Also acquired was Murano Senior Living in Seattle. The high-rise community features 243 apartments with waterfront and city skyline views. The property offers independent living, assisted living and …
ST. PETERS, Mo. — Watermark Retirement Communities has named Kathleen Nardoni as executive director of The Watermark at St. Peters. Nardoni has a 15-year career in senior living, including all levels of care, marketing and administration, with responsibilities for opening a new independent living community. She is a licensed senior living administrator and spent time in law enforcement earlier in her career. She holds a degree in criminal law.
COLUMBIA, MO., and HOUSTON — CareTrust REIT Inc. (NYSE: CTRE) has acquired three skilled nursing facilities for approximately $55.6 million, inclusive of transaction costs. The portfolio, consisting of 210 skilled nursing beds and 24 assisted living units, will be added to CareTrust’s existing master lease with affiliates of PACS Group Inc., which has been operating the facilities for a third-party landlord. Two of the facilities are located in Houston and one is located in Columbia. The acquisition increases annual rent under the existing PACS master lease by approximately $5 million. …
WILDWOOD, TOWN & COUNTRY and KANSAS CITY, Mo. — JLL Capital Markets has arranged the sale of three seniors housing communities in Wildwood, Town & Country and the Burlington Creek area of Kansas City. The buyer was a joint venture between Artemis Real Estate Partners, Scarp Ridge Capital Partners and Arrow Senior Living. The seller and price were not disclosed. JLL represented the seller and procured the buyer spearheaded by Scarp Ridge and capitalized by Artemis. Arrow Senior Living is taking over operations of the three communities. The acquisition is …
SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NYSE: CTRE) has participated in the origination of over $52 million in mezzanine loans. The financings are secured by three portfolios of 26 properties comprising 3,050 skilled nursing beds and 186 assisted living units in Virginia, Missouri, and California. CareTrust’s participation in the Virginia and Missouri mezzanine financings was done alongside a co-lender: the Northwind Group. Northwind’s healthcare portfolio includes investments in nearly 200 skilled nursing facilities and senior living communities. CareTrust provided $35 million in mezzanine loan proceeds in connection with the …
ST. LOUIS, ST. PETERS and KANSAS CITY, Mo. — Missouri-based Arrow Senior Living has acquired three communities in its home state. Rebranded as The Burlington Creek, The Plaza at Wildwood and The Town & Country, Arrow successfully acquired the 252-unit portfolio for an undisclosed amount. All three properties offer “independent living plus,” assisted living and memory care. Located near The Plaza Art District in Kansas City, The Burlington Creek Senior Living, previously Anthology of Burlington Creek, first opened in 2016 and features 85 apartments. With the addition of The Town …
ILLINOIS and MISSOURI — Evans Senior Investments (ESI) has secured a tenant and executed a 10-year lease agreement for a large skilled nursing and supportive living portfolio spanning across Illinois and Missouri. The portfolio comprises 13 communities located totaling over 1,600 licensed beds. The lease consisted of a ten-year term with a purchase option. Evans Senior Investments selected a regional Midwest group as the tenant. Neither the tenant nor landlord were disclosed.
ST. LOUIS — Lutheran Senior Services (LSS), a nonprofit provider of care, services and senior living for older adults in Missouri and Illinois, has agreed to acquire St. Louis Home Health (SLHH) for an undisclosed price. LSS, which already provides home health services among its offerings, cited the SLHH’s orthopedic expertise as a key reason for the acquisition, as well as its extended footprint in Illinois. The transaction is expected to close at the end of this month.
CAPE GIRARDEAU, Mo. — IMPACT Strategies has completed construction of Newbridge Retirement Community, a senior living facility in Cape Girardeau, located along the Mississippi River approximately midway between St. Louis and Memphis. The 75,000-square-foot luxury retirement community features 83 units of assisted living and memory care Project partners included Vessel Architecture, Bowen Engineering & Surveying and SSC Engineering.
