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CCRCNewsPennsylvaniaPeople

Riverton Enhanced Senior Living in Allentown, Pennsylvania Names Jennifer Simmers as Executive Director

by Jeff Shaw

ALLENTOWN, Pa. — Riverton Enhanced Senior Living, a continuing care retirement community (CCRC) in Allentown, has named Jennifer Simmers as its new executive director.  Prior to her appointment, Simmers served as executive director of Oxford Crossings, a personal care community in Langhorne. With more than a decade of experience, she is a licensed physical therapist assistant and previously held a range of positions with Phoebe Ministries, including director of rehabilitation and personal care home administrator at the nonprofit’s Richland property.

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Affordable HousingDevelopmentFinanceFloridaNews

CREI Holdings Receives $67M Construction Loan for Affordable Project in Metro Miami

by Jeff Shaw

SWEETWATER, Fla. — CREI Holdings has received a $67 million construction loan from Centennial Bank to build an affordable and workforce housing mid-rise building in Sweetwater, just west of Miami.  Construction of Li’l Abner III is set to begin in the second quarter of this year, with completion expected in the second quarter of 2026.  Coral Gables-based Burgos Lanza Architects and Planners designed the eight-story project, which features 328 one- and two-bedroom apartments. Of these, 40 percent will be designated for households with an income up to 80 percent of …

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DevelopmentIndependent LivingNew JerseyNews

Resort Lifestyle Communities Completes Parkers Bend Retirement Community in Moorestown, New Jersey

by Jeff Shaw

MOORESTOWN, N.J. — Resort Lifestyle Communities has completed Parkers Bend Retirement, an independent living community in Moorestown, approximately 10 miles east of Philadelphia.  The company will hold a grand opening for the community on April 18. Although the number of units was not disclosed, they come in studio, one-, two- and three-bedroom plans.

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AcquisitionsAssisted LivingIllinoisNews

Berkadia Arranges Sale of 45-Unit Community in Barrington, Illinois

by Jeff Shaw

BARRINGTON, Ill. — Berkadia has arranged the sale of a 45-unit assisted living and memory care community in Barrington, approximately 35 miles northwest of downtown Chicago.  The Berkadia team of Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders represented the seller, a publicly traded REIT. A regional owner-operator acquired the property for an undisclosed price. Further details were not disclosed.

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Affordable HousingDevelopmentIndianaNews

Evergreen Real Estate Group Completes 120-Unit Affordable Assisted Living Community in Goshen, Indiana

by Jeff Shaw

GOSHEN, Ind. — Evergreen Real Estate Group has completed Green Oaks of Goshen, a 120-unit assisted living community for low-income seniors in Goshen, a city in northern Indiana.  Evergreen Construction Co., a division of Evergreen Real Estate Group, served as general contractor on the project, which recently welcomed its first residents and is currently 50 percent leased.  Located at 282 Johnson St., the $30 million project replaces a vacant, three-acre lot on the city’s north side near an existing Salvation Army building. Bourbonnais, Ill.-based Gardant Management Solutions operates the four-story …

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AcquisitionsIllinoisNews

Blueprint Brokers Sale of Three-Property Value-Add Portfolio in Metro Chicago

by Jeff Shaw

CHICAGO — Blueprint Healthcare Real Estate Advisors has negotiated the sale of three value-add seniors housing communities in western suburbs of Chicago. Opened between 1994 and 2000, the portfolio consisted of three geographically clustered communities, with two distinct managers, offering approximately 290 assisted living and memory care units and approximately 40 Medicare-only skilled nursing units.  The communities struggled post COVID and presented a meaningful value-add opportunity, despite some recent capital improvements. Ultimately, the seller elected to divest the communities to preserve liquidity and simplify the portfolio. The buyer was a …

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FinanceIllinoisNewsSkilled Nursing

CFG Funds $13.6M Refinancing for Two Skilled Nursing Facilities in Illinois

by Jeff Shaw

ILLINOIS — CFG, a subsidiary of CFG Bank, has provided two HUD loans totaling $13.6 million to refinance debt on two skilled nursing facilities in Illinois.  The facilities accommodate a total of 173 beds. Further details were not disclosed. Tim Eberhardt and Ava Julio originated the transaction for CFG.

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IowaMemory CareNewsOperations

Health Dimensions Group Takes Over Management of Country Manor Memory Care in Davenport, Iowa

by Jeff Shaw

DAVENPORT, Iowa — Health Dimensions Group (HDG) has taken over management of Country Manor Memory Care in Davenport. Country Manor Memory care is the Quad Cities’ only freestanding memory care community, according to HDG. The community features 38 licensed beds.  Further details were not disclosed.

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CCRCNewsPeopleWashington

Emerald Communities Appoints Chris Lucero as Executive Director of Heron’s Key CCRC in Gig Harbor, Washington

by Jeff Shaw

GIG HARBOR, Wash. — Emerald Communities, a nonprofit operator with two continuing care retirement communities (CCRCs) in Washington, has appointed Chris Lucero as the new executive director at Heron’s Key in Gig Harbor, just across the Puget Sound from Tacoma. Lucero has more than 17 years of experience in the senior living industry. He holds a bachelor’s degree in marketing from the University of New Mexico. As executive director, Lucero will oversee the management, planning, organization, leadership, evaluation and control in all departments of Heron’s Key.

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Affordable HousingDevelopmentNewsVirginia

APAH Opens $31.5M Ilda’s Overlook Senior Residences in Fairfax, Virginia

by Jeff Shaw

FAIRFAX, Va. — Arlington Partnership for Affordable Housing (APAH) has opened Ilda’s Overlook Senior Residences, an affordable seniors housing community in Fairfax, approximately 15 miles west of Washington, D.C.  The community provides 80 affordable units to seniors age 62 and above with incomes at or below 60 percent of the area median income (AMI).  Ilda’s Overlook was built in partnership with Fairfax County Redevelopment and Housing Authority (FCRHA) and Erickson Senior Living. The property’s name, Ilda’s Overlook, is a nod to Black history in Fairfax County. It references a community …

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