SHEBOYGAN, Wis. — Charter Senior Living has partnered with DMK Development Group and the West Bend-based general contractor American Companies to unveil plans for a new senior living option in Sheboygan. Charter Senior Living of Sheboygan senior living community is designed to meet the growing needs of the senior population that now constitutes 20 percent of Sheboygan County and is expected to increase as baby boomers continue to age. The new community, in conjunction with Van Horn Real Estate, will be located within the North Town master-planned development, just northeast …
AUSTIN and DALLAS, Texas — Newmark has hired Chris McColpin and Andrew Porteous as senior managing directors specializing in debt, equity and structured finance services within the firm’s capital markets practice. Based in Austin and Dallas, respectively, McColpin and Porteous will join director Josh Francis to lead the commercial debt efforts in Texas while working closely with Newmark’s industrial, office and multifamily capital markets professionals. They will report to Ran Holman, executive vice president and Texas market leader. Prior to joining Newmark, McColpin served as a managing director of JLL …
WESTERVILLE, Ohio — Ziegler has arranged $59.9 million in bond financing for Ohio Living, a Westerville-based nonprofit operator of 12 seniors housing communities in Ohio. Bond proceeds will be used to refund existing bank debt, terminate an interest rate swap agreement, fund a debt-service reserve fund equal to approximately one year of debt service, fund approximately $3 million of capital expenditures and pay certain costs of issuance associated with the financing. The bonds consist of tax-exempt, fixed-rate serial and term bonds with an 18-year final maturity. The financing includes a …
FORT COLLINS, Colo. — Evans Senior Investments (ESI) has arranged the sale of a skilled nursing facility in Fort Collins for $7.6 million. The seller was an independent owner-operator. Although the number of beds was not released, the per-bed price of $79,166 equates to 96 beds. Initially built in 1968, the seller owned and operated the community for nearly two decades, achieving a four-star CMS rating. However, being its only skilled nursing facility, the company faced the challenges of today’s operating environment and lacked economies of scale. Upon marketing, the …
ARDMORE, Pa. — Meyer, an Ardmore-based architecture and design firm that works in seniors housing, has launched a new brand identity and website. Meyer’s commitment to its next stage is reflected in the firm’s renewed mission, “to create possibilities for people to be and belong.” The firm’s portfolio spans corporate, senior living, multifamily, active adult, life sciences, higher education and healthcare markets nationwide. In February 2020, Meyer announced the promotion of Alicia Karr from CFO to president. In her previous role, Karr led the transition of the company from privately …
NEW YORK CITY — Newmark has hired John Ward as vice chairman of its multifamily capital markets group. Based in New York, Ward specializes in the origination of debt products for multifamily and other commercial assets nationwide, including Fannie Mae, Freddie Mac, FHA/HUD, CMBS, life company, banks, preferred equity/mezzanine and bridge loan executions. With more than three decades of commercial real estate development, valuation and debt origination experience, Ward has placed and structured over $15 billion in capital through varying executions and capital structures for an array of property types. …
GREAT FALLS, Mont. — Community Preservation Partners (CPP) has acquired two affordable seniors housing communities in Great Falls: Sunshine Village and Broadview Manor East & West. CPP plans to renovate both properties, and has partnered with The Hampstead Cos., which will be the owner and co-developer. This is the second project closing in Montana for CPP and Hampstead together, totaling three communities in the area. CPP and Hampstead’s total development investment is approximately $23.1 million, which includes the purchase price of $10.8 million and an estimated renovation cost of $72,850 …
WESTLAKE VILLAGE, Calif. — LTC Properties Inc. (NYSE: LTC), a Westlake Village-based REIT, has re-leased 10 of the 35 properties in its Brookdale Senior Living portfolio to Brookdale under a new master lease. This new master lease includes six properties in Colorado and four in Kansas. The six-year master lease will commence on Jan. 1, 2024. Rent in the first year is set at $8 million, escalating by approximately 2 percent annually. The lease includes a purchase option that can be exercised in 2029. LTC also agreed to fund $4.5 …
MAPLE GROVE, Minn. — Grace Management Inc., a Maple Grove-based operator, has promoted Jenna Johnston to regional director of operations. Johnston joined Grace Management in April 2020 as the executive director of The Residence at Bethel Park, located in Bethel Park, Pennsylvania. It is at Bethel Park where she began to make her mark, leading this community and team up to 100 percent occupied with strong financial results. Within 16 months, Johnston was promoted to senior executive director and began to support The Residence at Whitehall, located in Pittsburgh. She …
NORTH BETHESDA, Md. — ML Group has spearheaded the design of planned renovations at The Terraces at Tuckerman Lane in North Bethesda, a suburb of Washington, D.C. Although a specific development price was not disclosed, the project was described as a “multi-million-dollar renovation.” The community was also recently rebranded and new leadership was hired, including senior executive director Laura Holden. “North Bethesda is one of Maryland’s most desirable neighborhoods, and our residents appreciate the blend of urban and suburban living with access to dynamic shopping, dining, entertainment and cultural experiences,” …