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Affordable HousingDevelopmentFinanceKeyBankNewsOhio

KeyBank Provides $9.9M Loan for Affordable Housing Conversion in Cleveland Heights, Ohio

by Jeff Shaw

CLEVELAND HEIGHTS, Ohio — KeyBank Community Development Lending and Investment (CDLI) has provided $9.9 million in Low-Income Housing Tax Credit (LIHTC) equity to finance the conversion of the Margaret Wagner Senior Apartments in Cleveland Heights to 80 low-income seniors housing units.  The development will create 20 new apartments through the adaptive re-use of the first floor of Margaret Wagner House and preserve 60 apartments on the upper floors. Built in 1960 as a nursing home by the Benjamin Rose Institute on Aging, the facility offers HUD 202 PRAC subsidy for …

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FinanceFloridaNewsSkilled Nursing

CareTrust Funds $15.7M Mortgage Financing for Skilled Nursing Portfolio in Florida

by Jeff Shaw

DELAND, Fla. — CareTrust REIT Inc. (NYSE: CTRE) has funded a $15.7 million mortgage loan on a two-asset, 115-bed skilled nursing portfolio in Florida.  The borrowers under the loan are affiliates of Elevation Group LLC, a Florida-based skilled nursing operator led by industry veterans Ken and Dan Funk. Elevation is an existing tenant of CareTrust. Proceeds of the loan were used to refinance Elevation’s existing loan on its Athens Post Acute facility, as well as to partially fund Elevation’s acquisition of Blue Lake Post Acute, both located in Deland, approximately …

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Company NewsNewsPeople

Juniper Communities Promotes Anne Campbell to Vice President of Operations

by Jeff Shaw

BLOOMFIELD, N.J. — Juniper Communities, a Bloomfield-based owner-operator, has promoted Anne Campbell to vice president of operations.  As part of the home office leadership team, Campbell will help plan the future direction and operations of Juniper’s senior living communities and its ancillary businesses. Campbell has been with Juniper Communities since July 2014. In addition to her role with Juniper, Campbell is a member of the board of directors for the Assisted Living/Personal Care, Pennsylvania Healthcare Association; past president of the Geriatric Interest Network of Centre County, Pennsylvania; and was an …

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CCRCIllinoisNewsPeople

Lifespace Appoints Doug Fleegle as Executive Director of Beacon Hill in Lombard, Illinois

by Jeff Shaw

LOMBARD, Ill. — Lifespace Communities has named Doug Fleegle as executive director of its Beacon Hill community in Lombard, a village 20 miles west of Chicago. Fleegle previously served as executive director at Lifespace’s Village on the Green community in Longwood, Florida from 2016 to 2019.  Fleegle has extensive executive-level leadership experience in senior living, healthcare and human services. Most recently, he served as the executive director of Las Ventanas, a HumanGood continuing care retirement community. He has also held leadership roles at Westminster Communities of Florida, Asbury Communities and …

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Assisted LivingFinanceNewsOregon

Dwight Capital Provides $35.7M HUD Loan for Boone Ridge Senior Living in Salem, Oregon

by Jeff Shaw

SALEM, Ore. — Dwight Capital has provided a $35.7 million HUD 232/223(f) refinancing for Boone Ridge Senior Living. The 151-bed assisted living facility and memory care complex is located in Salem, approximately 50 miles southwest of Portland. Boone Ridge offers 103 assisted living beds and 48 memory care beds across 5.7 acres. The community opened in 2019. This historic loan is the FHA’s first firm commitment issued under its Section 232 Residential Care Facility Green Mortgage Insurance Premium Reduction Program. Eligible properties for this program must meet industry-recognized green building …

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Affordable HousingFinanceMississippiNewsNorth CarolinaTexasVirginia

BWE Arranges Over $65M in Financing to Renovate, Preserve Affordable Communities Across the South

by Jeff Shaw

ASHEVILLE, N.C.; STARKVILLE, Miss.; CHESAPEAKE, Va.; and HOUSTON and BUDA, Texas — BWE has closed five loan deals totaling over $65 million to refinance and renovate affordable housing properties in North Carolina, Virginia, Mississippi and Texas. Jon Killough and John Roberts originated the loans on behalf of multiple borrowers. The loans include:

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Company NewsNewsPeople

12 Oaks Senior Living Hires Melissa Labor as Chief People Officer

by Jeff Shaw

DALLAS — 12 Oaks Senior Living, a Dallas-based regional senior living management company, has hired Melissa Labor as chief people officer. With over 25 years of experience, Labor has a background in commercial real estate, manufacturing and retail. In her previous roles as a head of talent at Amherst Holdings and CHRO at Granite Properties, Labor was a strategic partner. She is also founder and chief thought leader of Bespoke – People and Culture Strategies, a consulting and coaching practice. Labor is a certified Senior Professional of Human Resources (SPHR) …

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CaliforniaNewsPeople

Kisco Appoints Joseph Villanueva as Executive Director of The Kensington at Walnut Creek in California

by Jeff Shaw

WALNUT CREEK, Calif. — Kisco Senior Living has named Joseph Villanueva as executive director at The Kensington at Walnut Creek.  Villanueva brings more than 15 years of senior living experience to the community. He started as a licensed vocational nurse at a retirement community and has held a variety of positions within the industry including associate executive director, and previously served as executive director of another community in California.

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Affordable HousingDevelopmentNew JerseyNews

Walters Completes 150-Unit Cornerstone at Branchburg Affordable Community in New Jersey

by Jeff Shaw

BRANCHBURG, N.J. — Walters has opened Cornerstone at Branchburg, a LEED-certified community featuring 150 premium age- and income-restricted housing units in Branchburg, approximately 35 miles west of Staten Island.  Situated on nearly 12 acres in Somerset County, the two-building development offers one- and two-bedroom apartments ranging from approximately 700 to 900 square feet.  Cornerstone at Branchburg apartments are available to residents whose incomes are at or below 60 percent of the area’s median income. Rental rates are based on the renter’s gross annual income, according to the rent/income requirements chart.

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AcquisitionsNewsTexas

Blueprint Negotiates Sale of Two Communities in Texas for Behavioral Health Conversion

by Jeff Shaw

SAN ANTONIO and DALLAS — Blueprint Healthcare Real Estate Advisors has brokered the sale of two seniors housing communities in the San Antonio and Dallas markets. The two buyers both plan to convert the two properties into inpatient detox and residential substance abuse behavioral healthcare centers. The Blueprint team on the deal included Andrew Sfreddo, Shane Harmon, Gunnar Raney, Amy Sitzman and Giancarlo Riso. The buyers, seller and price were not disclosed.

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