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KeyBank Provides $21.5M in Financing for Three National Church Residences Affordable Communities

by Jeff Shaw

SEBRING, Fla., RAVENNA, Ohio, and GRAND PRAIRIE, Texas — KeyBank has provided $21.5 million of capital for National Church Residences (NCR) to rehabilitate three affordable seniors housing properties in Florida, Ohio and Texas. Fair Havens Village is an 80-unit property in Sebring, with 79 studios and one-bedroom affordable units plus a manager unit in three buildings. The property was originally constructed in 1985. The renovation will improve safety and accessibility and includes roof repairs, common area and residential unit improvements, and modernization of HVAC, electrical and plumbing systems. In addition …

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AcquisitionsIndependent LivingNewsOhio

Blueprint Arranges Sale of 136-Unit Polaris Retirement Community in Columbus, Ohio

by Jeff Shaw

COLUMBUS, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Polaris Retirement Community, a 136-unit independent living community in Columbus. The four-story community is directly adjacent to the POLARIS Commerce Center, Ohio’s largest mixed-use development. The top floor was built to assisted living licensing specifications for added options in the future. Developed in collaboration with Pittsburgh-based Graziano Construction and Development Company Inc. and Sweetbay Senior Living, Polaris Retirement Living Properties LP engaged Blueprint to market the property and facilitate the sale process. United Church Homes Inc. (UCH), …

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Affordable HousingDevelopmentNewsOhio

NEST, Pennrose Break Ground on LGBTQ-Friendly Affordable Seniors Housing in Cincinnati

by Jeff Shaw

CINCINNATI — Northsiders Engaged in Sustainable Transformation (NEST) and Pennrose have broken ground on John Arthur Flats, Cincinnati’s first LGBTQ-friendly affordable senior housing community. Located in the city’s Northside neighborhood, the new development includes 57 affordable apartments and on-site supportive services. The community is slated for completion in the summer of 2022. The three-story, elevator-serviced building will include a mix of studio, one-, and two-bedroom apartments for seniors earning 30 percent to 60 percent of the area median income (AMI). The community is located near the Northside business district, McKie …

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Assisted LivingDevelopmentNewsOhio

Confluent, HRA Break Ground on 108-Unit HarborChase of Shaker Heights in Ohio

by Jeff Shaw

SHAKER HEIGHTS, Ohio — Confluent Senior Living and Harbor Retirement Associates (HRA) have broken ground on a 106,698-square-foot assisted living and memory care community in Shaker Heights, a suburb of Cleveland. Representing the first project of its kind to break ground in this city within the past 20 years, HarborChase of Shaker Heights will address the unmet demand among local residents for this housing option. The three-story community will offer 108 licensed senior living units, comprising 80 apartments for assisted living and 28 units for memory care residents. The community …

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AcquisitionsNewsOhio

ESI Arranges $6M Sale of Skilled Nursing Community in Dayton, Ohio

by Jeff Shaw

DAYTON, Ohio — Evans Senior Investments (ESI) has arranged the sale of Lincoln Park Manor, a 60-bed skilled nursing and 30-unit assisted living community in Dayton The property was built in 1988 with a $1.3 million renovation from 2019 to 2020. The community was not profitable at the time of marketing the offering, with skilled nursing census averaging 37 percent and assisted living census averaging 45 percent, resulting in a loss of over $1.5 million in net operating income. Contributing to the below average profitability was that the skilled nursing …

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AcquisitionsIllinoisNewsOhio

Pathway to Living, Welltower Acquire 22-Property Portfolio in Illinois, Ohio

by Jeff Shaw

TOLEDO, Ohio, and CHICAGO — Pathway to Living, the seniors housing platform of Chicago-based real estate investor and operator Waterton, has partnered with giant healthcare giant Welltower (NYSE: WELL) to manage and modernize a 22-property seniors housing portfolio across Illinois and Ohio. Pathway to Living will operate the communities, which Toledo-based Welltower will own. The portfolio totals 1,105 units. “This new alliance with Welltower, the industry’s leading healthcare real estate entity, is a testament to our reputation as a specialist in middle-market senior housing operations,” says Jerry Finis, CEO of …

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AcquisitionsFinanceNewsOhio

Oxford Finance Provides $24M Credit Facility to Owner-Operator Lantern Group

by Jeff Shaw

CHAGRIN FALLS, MADISON and SAYBROOK, Ohio — Oxford Finance LLC, an Alexandria-based lender, has closed a $24 million senior credit facility for Lantern Group, an owner and operator of skilled nursing and assisted living facilities. The funds were used to acquire three assisted living and memory care facilities located in Ohio: Lantern of Chagrin, Lantern of Madison, and Lantern of Saybrook. Lantern was founded in 2004 by CEO Jean Makesh and is headquartered in Northeast Ohio. The company has been the operator of the three facilities since their original construction. …

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AcquisitionsAffordable HousingDevelopmentNewsOhio

Evergreen Acquires Affordable Community in Downtown Cleveland, Plans $18M Historic Renovation

by Jeff Shaw

CLEVELAND —Evergreen Real Estate Group has acquired Carter Manor Apartments, an affordable seniors housing community in downtown Cleveland, for an undisclosed price. Evergreen plans to update the 270-unit apartment tower through an $18 million capital improvement program that will preserve the building’s historic facade and restore other original design elements. The 11-story property comprises a mix of 33 studio, 209 one-bedroom and 28 two-bedroom apartments, all of which will be preserved as affordable housing for seniors and disabled individuals. Evergreen will both own and manage the community. Designed by architect …

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Derek Ross Philips Seniors Housing Technology
Content PartnersFeaturesIndustry ContentMemory CareOhioOperationsPeopleSkilled NursingTechnology

Personalizing Wellness: Using Data to Promote Resident Health

by Sarah Daniels

Seniors housing technology has long been focused on health and safety — keeping residents safe from falls, managing medicines and addressing health changes that require a doctor’s oversight. But the future of seniors housing may lie more in the direction of holistic wellness — personalized nutrition, evidence-based decision-making for increasing or decreasing medical interventions and better resident experiences. Over the next decade, data will be the driving force for communities that embrace wellness goals, according to Derek Ross, CEO, Aging and Caregiving at Philips.  “There is a huge opportunity to …

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AcquisitionsNewsOhio

Blueprint Brokers Sale of Skilled Nursing Community in Akron, Ohio

by Jeff Shaw

AKRON, Ohio — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a skilled nursing and assisted living community in Akron. The property was built in 1917 and renovated in the mid-2000s. It is located near the University of Akron campus. A regional owner-operator sold the community to an undisclosed buyer for an undisclosed price.

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