Evans Senior Investments (ESI) has arranged the sale of a continuing care retirement community situated on the West Coast. The community consists of 150 units. Further details were not disclosed.
HONOLULU — EAH Housing has broken ground on Aloha Iā Halewilikō, a 140-unit affordable seniors housing community in the Aiea neighborhood of Honolulu. The City and County of Honolulu are providing the land for the project. Other partners on the $62 million project include Hawai‘i Housing Finance & Development Corp. (HHFDC), the Bank of Hawai‘i and U.S. Bank. The development has been in planning stages for five years and is scheduled for completion in 2025. Located in a residential neighborhood adjacent to ‘Aiea Public Library on the former site of ‘Aiea …
FLORIDA — Capital Funding Group (CFG) has provided a $3.3 million bridge-to-HUD mezzanine loan, which supported a dividend recapitalization for a 120-bed skilled nursing facility in Florida. The borrower was identified only as “a well-recognized sponsor” and the location and name of the property were not disclosed. Andrew Jones originated the transaction for the CFG.
AUGUSTA, STOCKBRIDGE and EVANS, Ga. — Blueprint has arranged the sale of three skilled nursing facilities: Laurel Park at Henry Medical Center in the Atlanta suburb of Stockbridge; Kentwood Extended Care in Augusta; and Westwood Extended Care in the Augusta suburb of Evans. The seller was Piedmont Healthcare Inc., Georgia’s largest nonprofit healthcare system. Through its 2022 affiliation with University Health Care System, two skilled nursing and long-term care facilities serving the greater Augusta market, as well as Piedmont Augusta and Piedmont McDuffie hospitals, became part of the Piedmont system. …
MORRO BAY, Calif. — Cambridge Realty Capital has provided a $15.4 million first mortgage loan to refinance Casa de Flores and Bayside Care Center. Located in Morro Bay, a seaside city approximately midway between Los Angeles and San Francisco, Casa de Flores and Bayside Care Center form a single campus offering assisted living and skilled nursing services. Hymie Barber, Cambridge’s national originations manager, led the refinancing team. The fully amortizing, 34-year loan was provided for the owner, a California limited liability company, through the HUD Section 232/223(f) mortgage insurance program. …
NEW YORK CITY — SilverAssist, a New York-based provider of senior care resources and solutions, has acquired Oasis Senior Advisors, a national franchise network spanning over 130 locations across the United States. The strategic move was in response to the growing need for comprehensive and personalized senior care solutions in a rapidly aging society, according to SilverAssist. SilverAssist is a comprehensive senior assistance platform, connecting seniors and their families with trustworthy information, expert guidance and quality services to simplify senior life.Founded in 2014 by Tim Evankovich, Oasis Senior Advisors provides …
LOUISVILLE, Colo., and CARLSBAD, Calif. — Balfour Senior Living, based in Louisville, has become an affiliate of Kisco Senior Living, based in Carlsbad. Andy Kohlberg, the CEO and founder of Kisco, and Michael Schonbrun, the CEO and founder of Balfour along with co-founder and general counsel Susan Juroe, broke the news in a joint statement. Since their founding 30 years ago, the two luxury seniors housing companies have followed parallel paths. The combination of the two companies will be geographically complementary, according to Balfour and Kisco executives. The new entity …
NEWARK and WASHINGTON TOWNSHIP, N.J. — The New Jersey Economic Development Authority (NJEDA) has approved two additional senior residential development projects for Aspire funds. The two projects, one located in Newark and the other in Washington Township, will include 164 housing units for seniors, all of which will be affordable. To date, the board has now approved a total of $294 million in Aspire funds for residential projects, leading to the creation and preservation of over 1,500 housing units, nearly 70 percent of which will be affordable. With the development …
ALPHARETTA, Ga. — Formation Development Group LLC (FDG), a senior living development firm based in Alpharetta, has hired Michael Duggan as senior vice president. Duggan joins FDG from Anthology Senior Living where he spent eight years and served most recently as executive vice president, overseeing the development and construction teams. In his tenure at Anthology, he oversaw the growth of the development platform to over 30 projects across the country. Duggan’s focus at FDG will be to lead the firm’s development strategy and execution. Formation Development Group, founded in 2007, …
SAGINAW, Texas — Journey Capital has broken ground on the third phase of development at Edition of Saginaw Senior Living in Saginaw, just north of Fort Worth. The phase will add 36 independent living cottages to the property. In partnership with Journey Capital’s affiliate operating arm led by Shawn Corzine of SilverPoint Senior Living, Journey unveiled Phase I of the Edition of Saginaw Senior Living community in January 2022, featuring 22 independent living cottages. Phase II is currently under construction will add a 71-bed assisted living and memory care facility …