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Assisted LivingDevelopmentNew YorkNews

EW Howell Completes 80-Unit St. Johnland Assisted Living in Kings Park, New York

by Jeff Shaw

KINGS PARK, N.Y. — EW Howell Construction Group has completed work on St. Johnland Assisted Living in Kings Park. The two-story, 68,000-square-foot facility on Long Island’s North Shore offers 80 residential units and 100 beds. St. Johnland is a provider on Long Island of skilled nursing care, with specialties in dementia, head injury rehabilitation, subacute care and adult day care. The new assisted living facility was built adjacent to the existing St. Johnland Nursing Center on the 100-acre complex that the nonprofit organization owns. KDA Architects designed the community to …

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AcquisitionsNew YorkNewsNorth CarolinaSouth Carolina

Bellwether Arranges $62M in Financing for Seniors Housing Communities in Carolinas, New York

by Jeff Shaw

GREENVILLE, S.C.; CHARLOTTE, N.C.; AND KENMORE, N.Y. — Bellwether Enterprise Real Estate Capital LLC has arranged three loan deals totaling more than $62 million to finance three assisted living and memory care communities in Greenville, one assisted living and memory care facility in Charlotte and a 150-unit affordable seniors housing development in the Buffalo suburb of Kenmore. The national seniors housing and care team at Bellwether originated the Carolina loans, led by Ryan Stoll, Taylor Mokris and Kim Huffstutler. Lundat Kassa and Anthea Martin originated the New York loan. The …

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AcquisitionsAssisted LivingFinanceNew YorkNews

Dwight Mortgage Trust Funds $27M Acquisition Loan for Tanglewood Portfolio in Jamestown, New York

by Jeff Shaw

JAMESTOWN, N.Y. — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, has provided a $27 million bridge acquisition loan for a portfolio of four assisted living and memory care facilities. The properties are located in the rural Western New York city of Jamestown and its suburb of Frewsburg. The assets include Tanglewood Manor, Memory Gardens, The Magnolia and Comfort Today. The portfolio totals 293 beds. Dwight’s Josh Levin originated this transaction for the borrower, Gary Rohinsky, the CEO of Culture Care Senior Living. Details on the seller and price …

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Affordable HousingDevelopmentNew YorkNews

Catholic Charities Opens 135-Unit Pope Francis Apartments of Loreto in Brooklyn

by Jeff Shaw

NEW YORK CITY — Catholic Charities of Brooklyn & Queens has opened the doors on Pope Francis Apartments of Loreto, an affordable seniors housing community in the Brownsville neighborhood of Brooklyn. Designed by RKTB Architects, the development replaces a former Catholic church that closed in 2009. It features 135 apartments in an 83,000-square-foot building. The new residence meets Enterprise Green Communities Criteria, a comprehensive green building framework specifically for affordable housing. The design and development team previously completed the adjacent Monsignor Anthony J. Baretta Apartments, which is considered Phase I …

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Assisted LivingDevelopmentNew YorkNews

Sunrise Plans 156-Unit The Apsley on Manhattan’s Upper West Side

by Jeff Shaw

NEW YORK CITY — Sunrise Senior Living, with partners Hines and Welltower (NYSE: WELL), has announced plans for its second luxury senior lifestyle community in New York City: The Apsley. Located on the Upper West Side on Broadway between 84th and 85th streets, the community will feature 76 assisted living and 80 memory care units. “We have always known there is a strong demand for high-quality, elevated senior living in Manhattan,” says Denise Falco, senior vice president of operations at Sunrise Senior Living. “With the success of our sister property, …

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Active AdultFinanceNew YorkNews

Northmarq Provides $22M Fannie Mae Refinancing for Springvale Apartments in Croton-on-Hudson, New York

by Jeff Shaw

CROTON-ON-HUDSON, N.Y. — Northmarq has provided a $22 million refinancing for Springvale Apartments, an active adult community in Croton-on-Hudson, approximately 30 miles north of Manhattan. The 31-building, 524-unit property was built between 1956 and 1959. Robert Ranieri, senior vice president/managing director of Northmarq’s White Plains debt/equity office, arranged the permanent-fixed Fannie Mae loan. The transaction was structured with 10-year term on a 30-year amortization schedule. The garden apartment complex for active adults 55 years and older is located in a 35-acre park-like setting overlooking the Hudson River.

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Assisted LivingDevelopmentNew YorkNews

Benchmark Plans 100-Unit Community in Mount Pleasant, New York

by Jeff Shaw

MOUNT PLEASANT, N.Y. — Benchmark Senior Living has unveiled plans for Benchmark at Mount Pleasant, a seniors housing community in the Westchester County town of Mount Pleasant, approximately 25 miles north of Manhattan. The community, slated for completion in spring 2024, will be Benchmark’s third in metro New York City, joining two existing communities opened on Long Island. It will feature 74 assisted living units and 26 memory care units. Benchmark is partnering with Shelbourne Healthcare Development Group LLC, a development and investment firm in Wayne, Penn. Benchmark will serve …

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AcquisitionsActive AdultNew YorkNews

Invesque Sells Calamar Seniors Housing Properties as Part of Portfolio Simplification

by Jeff Shaw

WHEATFIELD, N.Y. — Invesque Inc. (TSX: IVQ) has sold $113 million of non-core assets, including its interests in two Calamar-branded active adult communities in Wheatfield, a northern suburb of Buffalo. Inclusive of previously announced dispositions, Invesque has sold $292 million of assets over the last 12 months as part of its portfolio simplification strategy. The Calamar communities were acquired in 2018 as part of the acquisition of Care Investment Trust and were managed by Calamar under a joint-venture structure. “We have been very active over the past year executing on …

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Assisted LivingFinanceNew YorkNews

Greystone Provides $7M in Bridge Financing for Assisted Living Community in Wellsville, New York

by Jeff Shaw

WELLSVILLE, N.Y. — Greystone has provided a $7 million bridge loan to refinance acquisition debt for a 137-bed assisted living facility in Wellsville. Willow Ridge Senior Living LLC, led by principals Michael and Cayelan Morris, acquired the Allegany County facility in August 2021. Formerly known as Manor Hills, the property also includes 22 memory care beds in a separate wing. Greystone intends to pursue HUD-insured financing as a long-term permanent exit of the bridge financing. This nonrecourse, interest-only bridge loan includes an initial 24-month term with two six-month extensions.

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Assisted LivingDevelopmentNew YorkNews

Sunrise Senior Living Opens 130-Unit Community on Staten Island

by Jeff Shaw

NEW YORK CITY — Sunrise Senior Living has opened Sunrise of New Dorp, its second seniors housing community on Staten Island. The 85,000-square-foot, four-story features 130 units of assisted living and memory care. Moseley Architects designed the project. Other partners included KBE Building Corp. and PWC Cos. Cheryl Bambach is executive director of the community. With proximity to the Staten Island Expressway, residents will have access to quick excursions to Manhattan, Brooklyn and Jersey City. The community is situated near the shops, restaurants and beaches of Staten Island’s Hylan Boulevard …

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