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Liam-Sorensen
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MonticelloAM Appoints Liam Sorensen Senior Relationship Manager

by Hayden Spiess

NEW YORK CITY — Multifamily and seniors housing bridge lending platform MonticelloAM has appointed Liam Sorensen to the role of senior relationship manager.  In his new role, Sorensen will be responsible for fostering and expanding client relationships, sourcing new opportunities and supporting the firm’s lending and investment activity across the seniors housing market. He will report to Karina Davydov, senior managing director, Healthcare.  Sorensen’s experience includes almost a decade in healthcare real estate finance and a track record of debt structuring, underwriting, portfolio management and client advisory services. Prior to joining …

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Community_Pine-Island-Minn
AcquisitionsAssisted LivingMinnesotaNewsSkilled Nursing

SLIB Arranges Sale of Two Communities in Southeast Minnesota

by Hayden Spiess

PINE ISLAND, Minn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two seniors housing communities located in Pine Island.  A regional operator acquired both properties, which include Pine Haven and Evergreen Place Assisted Living.  Pine Haven, which was originally constructed in 1964 and renovated in 2016, is a 70-bed skilled nursing facility. Featuring 24 assisted living units, Evergreen Place was built in 1995 and is connected to Pine Haven.  The USDA sold Pine Haven, and the seller of Evergreen Place was the City of Pine Island. Jake Anderson, …

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Nicole-Ornelas
Company NewsNewsPeopleTexas

Nicole Ornelas Joins Lifespace Communities as Vice President of Experience

by Hayden Spiess

DALLAS — Nicole Ornelas has joined Lifespace Communities, a nonprofit senior living owner and operator, as vice president of experience.  In her new role, Ornelas will report to Nikki Kresse, chief experience and people officer. She will guide the development and execution of LIfespace’s enterprise experience strategy, which includes elevating resident experience, introducing new service models and applying data-driven tactics to create improvement. Ornelas will also collaborate with the vice president of human resources and other leaders to oversee team member experiences within the organization.  Ornelas brings more than 20 years …

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DevelopmentIndependent LivingNewsTexas

EGRE Opens 140-Unit Redeveloped Community in Metro Fort Worth

by Hayden Spiess

TARRANT COUNTY, Texas — EGRE, a developer that specializes in transforming older and distressed assets, has opened Manor Independent Living in Tarrant County, within the Fort Worth metro. EGRE recently completed a redevelopment of the property, which totals 140 units for adults age 55 and older.  Monthly rental rates at the property, which was previously a skilled nursing facility with low occupancy, begin at $1,499 and include utilities. Amenities at the property include three restaurant-style meals daily for an additional $400 monthly; health, wellness and recreational programs; a gym; game room; …

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Affordable HousingDevelopmentNew YorkNews

Joint Venture Begins Construction on $150M Intergenerational Affordable Housing Development in New York City

by Hayden Spiess

NEW YORK CITY — A joint venture partnership between Foxy Development and Selfhelp Realty Group has begun construction on a new intergenerational affordable housing development located in Queens in New York City. Dubbed The Perennial, the property will comprise145 units and will also house the Forest Hills Jewish Center.  Upon completion, which is scheduled for the end of 2027, the 156,133-square-foot development will feature 124 units of seniors housing, including 44 units for formerly unhoused seniors, as well as 20 family units. All residences will be reserved for households earning at …

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Active AdultDevelopmentFeaturesNews

Del Webb Must Continue to Innovate, Urges PulteGroup CEO at NIC Fall Conference

by Hayden Spiess

By Matt Valley AUSTIN, Texas — The Del Webb active adult brand, long associated with Sun Belt markets, is gaining traction in the Midwest, says Ryan Marshall, president and CEO of Atlanta-based PulteGroup Inc. (NYSE: PHM), parent company of Del Webb. But unlike Sun City, Arizona — the pioneering planned retirement community developed by Del Webb starting in 1960 — today’s developments are much smaller in scale. Del Webb Hickory Greens, located about 25 miles southwest of Cleveland in Columbia Township, Ohio, officially opened in March of this year. The 622-home community is …

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Eagleview-Landing
DevelopmentIndependent LivingNewsPennsylvania

Hankin Group Announces $67M Expansion at Community in Metro Philadelphia

by Hayden Spiess

EXTON, Pa. — Vertically integrated real estate company Hankin Group has announced plans for a $67 million expansion project at Eagleview Landing, its senior living community in Exton, roughly 30 miles west of Philadelphia.  Upon completion, the expansion will add 117 independent living residences to the property, which currently totals 107 assisted living and memory care units, with 9,000 square feet of amenity space.  The new building will also feature additional amenity space, including a fitness center, indoor pool, spa, theater, game rooms and golf simulator. Residents will also have access …

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Affordable HousingDevelopmentGeorgiaNews

Columbia Residential Completes $35M Redevelopment at Legacy at East Lake in Atlanta

by Hayden Spiess

ATLANTA — Columbia Residential, in partnership with Atlanta Housing and other public and private stakeholders, has completed a $35 million redevelopment at Legacy at East Lake in Atlanta and reopened the community.  Originally built in the 1970s, the property features 149 studio and one-bedroom apartments across eight stories. Units are reserved for residents age 55 and older and households earning at or below 30, 50 and 60 percent of the area median income. Rents are capped at 30 percent of household income through project-based vouchers.  Financing for the redevelopment included $12.4 …

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AcquisitionsAssisted LivingIndependent LivingNewsTexas

Berkadia Brokers Sale of 124-Unit Community in Austin

by Hayden Spiess

AUSTIN, Texas — Berkadia has brokered the sale of Village on the Park Onion Creek, a 124-unit independent and assisted living facility located in South Austin. A publicly traded REIT acquired the property for an undisclosed price.  Cody Tremper, Mike Garbers, Ross Sanders and Dave Fasano of Berkadia Seniors Housing & Healthcare arranged the sale on behalf of the seller, Bridgewood Property Co., the original developer.  Bridgewood’s wholly owned management company, The Aspenwood Co., will continue to operate the property on behalf of the new owner. 

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Independent LivingNew YorkNews

Focus Healthcare Partners Underway on $28M Renovation at Independent Living Property in New York

by Hayden Spiess

PORT WASHINGTON, N.Y. — Focus Healthcare Partners is currently underway on a $28 million renovation project at an independent living property in Port Washington.  Focus Healthcare recently acquired the community, which is being rebranded as The Sinclair at Port Washington. Previously, the community was operated as The Harborside. The property’s new name pays homage to author Sinclair Lewis, who lives in Port Washington during the early 1900s.  Planned upgrades include a new wellness center, apartment renovations, refreshes to interior common spaces, a new culinary program, a movie theater, expanded outdoor recreation …

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