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Assisted LivingDevelopmentNevadaNews

Joint Venture Breaks Ground on Valage Carson Valley in Minden, Nevada

by Jeff Shaw

MINDEN, Nev. — A joint venture between Greystone Housing Impact Investors LP (NYSE: GHI) and ISL Ventures has broken ground on Valage Carson Valley, a seniors housing community in Minden, a small municipality of approximately 3,000 people just east of Lake Tahoe. The property will feature 56 assisted living units and 46 memory care units. The project is scheduled for completion in fall 2024. PI Architects designed the community, which Metcalf Builders is constructing, managed by Leading Light Development and Construction Consulting. Integral Senior Living will be the operator upon …

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Affordable HousingDevelopmentMarylandNews

Homes for America Completes 163-Unit Affordable Community in Oxon Hill, Maryland

by Jeff Shaw

OXON HILL, Md. — Homes for America, in collaboration with the Housing Authority of Prince George’s County and Foundation Development Group, has completed Homes at Oxon Hill, a 163-unit affordable seniors housing community in Oxon Hill, just south of Washington, D.C. The community is age restricted and residents must earn at or below 60 percent of the area median income. Homes at Oxon Hill is a five-story elevator building that includes a mix of one- and two-bedroom apartments. Financing for Homes at Oxon Hill comes from the Maryland Department of …

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AcquisitionsAssisted LivingMarylandNews

Blueprint Negotiates Sale of 65-Unit Woodlands Assisted Living Community in Middle River, Maryland

by Jeff Shaw

MIDDLE RIVER, Md. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Woodlands Assisted Living, a 65-unit assisted living and memory care community in Middle River, a northeastern suburb of Baltimore. A publicly traded REIT sold the asset to Inspirations Assisted Living and Memory Care for an undisclosed price. Built in 1999, the community featured a history of performance prior to the onset of the pandemic, with occupancies north of 90 percent and operating margins approaching 30 percent. Significantly impacted by the pandemic in 2020 and 2021, the …

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NewsPeople

Epoch Senior Living Promotes Michael Gordon to Chief Investment Officer

by Jeff Shaw

WALTHAM, Mass. — EPOCH Senior Living, a Waltham-based operator, has promoted Michael Gordon to chief investment officer. Gordon has been a member of EPOCH Senior Living’s leadership team for nearly 25 years. Most recently, he was senior vice president of planning and development. Over the course of his career with the company, he has overseen and been involved with the long-range planning, budgeting and development of 16 of EPOCH Senior Living’s properties. As CIO, Gordon will be responsible for focusing on driving new initiatives, improving market research, procurement and employee …

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ArkansasNewsOperationsSkilled Nursing

Plains Commercial Arranges New Tenant for Davis West Nursing Home in Pine Bluff, Arkansas

by Jeff Shaw

PINE BLUFF, Ark. — Plains Commercial has arranged the lease of Davis West Nursing Home in Pine Bluff, approximately 45 miles south of Little Rock. The exiting operator is a nonprofit that made the decision to exit the skilled nursing operating business. After the bidding process, the landlord chose a Chicago-based operator. The facility was suffering from a depressed census that hadn’t fully recovered from COVID. Licensed for 177 beds, the facility offered the new operator significant upside through further lease-up and operational changes. The Chicago-based operator is taking on …

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Assisted LivingDevelopmentNew JerseyNews

Capitol Seniors Housing Completes 87-Unit Arbor Terrace Marlton in New Jersey

by Jeff Shaw

MARLTON, N.J. — Capitol Seniors Housing has completed Arbor Terrace Marlton, an 87-unit assisted living and memory care community in Marlton, approximately 15 miles east of Philadelphia. Project partners include operator The Arbor Co., architecture and design firm Meyer, and builder IMC Construction. The three-story, 76,500-square-foot community features 60 assisted living apartments, 27 memory care units and 15,000 square feet of amenity space. Construction began in April 2021.

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AcquisitionsAssisted LivingKentuckyNews

SLIB Negotiates Sale of 114-Unit Portfolio in Kentucky

by Jeff Shaw

ELIZABETHTOWN and RICHMOND, Ky. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Acadian Cove in Richmond and Willow Creek Senior Living in Elizabethtown. Acadian Cove offers 49 units of assisted living and was built in 2009. Willow Creek feature 65 units of assisted living and memory care and was built in 1998. The seller was a REIT divesting to focus on liquidating capital for other investments. The buyer was a Northeast-based operator looking to add to its growing Midwest portfolio. The price was not disclosed. Daniel Geraghty …

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CaliforniaNewsOperations

JCH Brokers Lease Negotiation of Skilled Nursing Facility in Bakersfield, California

by Jeff Shaw

BAKERSFIELD, Calif. — JCH Senior Housing Investment Brokerage has brokered the lease negotiation of a skilled nursing facility in Bakersfield, approximately 130 miles north of Los Angeles. The previous regional operator decided it was time to sell its leasehold position and become the landlord. A growing local operator took over management at the property. “This particular asset is 100 years old, and it took a few attempts to identify the perfect buyer,” says Jennifer Contreras, senior vice president of JCH.

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NewsPeople

NIC Chief Economist Beth Mace Moves to Consultant Role

by Jeff Shaw

ANNAPOLIS, Md. — The National Investment Center for Seniors Housing & Care (NIC), an Annapolis-based nonprofit providing data to the seniors housing industry, has announced its chief economist Beth Mace will transition to a consultant and special advisor role. Mace will focus exclusively on monitoring and reporting changes in the economy and the capital markets impacting seniors housing investments and operations. Mace will analyze and report on conditions in the capital markets, providing transparency and insights to help seniors housing owners, operators and investors make crucial decisions during a particularly …

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FinanceNewsPeople

Berkadia Adds David Fasano, Ross Sanders to Seniors Housing Team

by Jeff Shaw

DALLAS and ST. LOUIS — Berkadia has hired David Fasano and Ross Sanders as managing directors to its seniors housing and healthcare platform. Fasano will be based in Dallas and Sanders will be based out of St. Louis. They both will report to Mike Miner. Both Fasano and Sanders join Berkadia from Newmark, where they served as senior managing directors and were responsible for seniors housing-related investment advisory throughout the United States.

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