ST. PAUL, Minn. — Jon Lundberg, president and CEO of both Fairview Senior Services and its subsidiary Ebenezer Senior Living, has announced his plan to retire in September. Lundberg, who initially joined Ebenezer in 2007 as chief operating officer, assumed the role of president and CEO in 2017. During his tenure, he played a pivotal role in the growth of St. Paul-based Ebenezer, seeing its expansion to more than 120 locations across six states. Lundberg’s career included adapting to regulatory changes, such as the implementation of new assisted living regulations …
ALEXANDRIA, Va. — Bonaventure has neared completion of Alate Old Town, a 133-unit independent living community in Alexandria. Partners on the project include Senior Lifestyle Corp. and Earthcraft. The development is scheduled to open in March. Located in the Old Town West historic district of the first-ring Washingon, D.C. suburb, future residents will have access to more than 200 restaurants and boutiques alongside historic museums and activities on King Street, less than 0.3 miles away. Alate’s main restaurant, Old Town Tavern, will be open to the public.
LAKEWOOD RANCH, Fla. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired The Summit of Lakewood Ranch in Lakewood Ranch, approximately 40 miles south of Tampa. The community offers assisted living and memory care. CPF plans to make improvements to the campus. Grace Management will take over management of the property. The seller, price and number of units were not disclosed. Brett Gardner and the seniors housing team at Walker & Dunlop advised the seller on the transaction.
CHICAGO — KeyBank Community Development Lending and Investment (CDLI) has provided $34.3 million in construction and permanent financing through the HUD 221(d)(4) Mortgage Insurance program to facilitate the rehabilitation of six low-income apartment buildings in the South Shore of Chicago. The 6900 Crandon Apartments provides 151 units for elderly and disabled residents subsidized under a project -based Section 8 contract. The remaining five apartment building provide 126 units for families. The sponsor is Evergreen Real Estate Group. The properties are owned by an LIHTC partnership created by the Housing and …
MOORESTOWN, N.J. — Resort Lifestyle Communities has opened Parkers Bend, an independent living community in Moorestown, a suburb of Philadelphia. Parkers Bend offers 128 apartments for rent in studio, one-, two- and three-bedroom configurations.
MINNEAPOLIS — Health Dimensions Group (HDG) has promoted Tom Stitt to senior vice president of consulting services. Throughout his 33 years of experience, Stitt has become a nationally known expert in Programs of All-Inclusive Care for the Elderly (PACE) and healthcare finance. For more than 17 years, Stitt served in various roles at HDG including vice president of finance and reimbursement. In 2015, he joined Ascension Living where he held the position of national director of finance. In 2019, he rejoined the HDG team as the vice president of consulting …
BELLEVUE, Wash. — Great Expectations LLC has purchased Sagebrook, a seniors assisted living and memory care community on 2.3 acres in the Seattle suburb of Bellevue, for $16.5 million. The buyer plans to convert the property into a 108-unit apartment community for residents of all ages. The new property, which will be rebranded, will offer housing for residents earning 60 percent to 80 percent of area median income. The community is located at 15750 NE 15th St. Dan Chhan, Tim McKay, Sam Wayne and Matt Kemper of Cushman & Wakefield …
BONITA SPRINGS, Fla. — Discovery Senior Living, a Bonita Springs-based operator with the fifth-largest portfolio in the country, has launched its latest operating company, Arvum Senior Living. The new brand manages the company’s Midwest portfolio, including properties in Illinois, Iowa, Kansas, Missouri and Wisconsin, with plans to strategically manage communities throughout the Great Plains region. The launch is part of Discovery’s evolving regional operating company structure. As an operating company of Discovery, Arvum will function as a local management company with a dedicated leadership team, leveraging the comprehensive support services …
DALLAS, ATLANTA and NASHVILLE — BWE has arranged three financings totaling over $60 million to build, renovate and provide permanent financing for three affordable multifamily housing properties. Jon Killough and John Roberts originated the Freddie Mac tax-exempt loans on behalf of the borrowers. In the first transcation, BWE arranged a $14.2 million loan for Villages at Carver in Atlanta. The borrower, an Atlanta-based developer and operator, will fund renovations and permanent financing for the 220-unit, mixed-income, garden-style apartment complex. The development houses a mix of one-, two-, three-, and four-bedroom …
VIRGINIA — Capital Funding Group (CFG) has provided a $19.8 million bridge-to-HUD loan to support the acquisition of a 120-bed skilled nursing facility in Virginia. Loan proceeds represented 100 percent of the acquisition and closing costs. Further details were not disclosed. Andrew Jones originated the transaction for Capital Funding Group.