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Assisted LivingFinanceNewsWashington

CBRE Arranges $23.3M Refinancing for Queen Anne Manor in Seattle

by Jeff Shaw

SEATTLE — CBRE National Senior Housing has arranged a $23.3 million refinancing for Queen Anne Manor, a 93-unit assisted living and memory care community in Seattle. Aron Will, Adam Mincberg and Michael Cregan of CBRE National Senior Housing arranged the 10-year bridge loan with three years of interest-only payments through a national bank. The borrower is Capitol Seniors Housing. Originally built in 1908 as Seattle’s Children’s Orthopedic Hospital, the community was converted to seniors housing in 1982. Extensively renovated in 2015, the community is located two miles from downtown Seattle …

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Company NewsNewsPeople

Healthpeak Properties Appoints Kathy Sandstrom as Board Chair

by Jeff Shaw

DENVER — Healthpeak Properties Inc. (NYSE: PEAK) has appointed Kathy Sandstrom as independent chair of the board of directors. Sandstrom succeeds Brian Cartwright, who will continue to serve on the board as an independent director. “Regular rotation of board leadership promotes effective corporate governance and introduces fresh perspectives and energy to board processes,” says Cartwright. “After five years as chair, the time is right for that rotation.” The board comprises eight members with an average tenure of approximately seven years. Sandstrom has over 20 years of real estate finance and …

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CaliforniaCCRCDevelopmentNews

Spieker Senior Development Partners Breaks Ground on 486-Unit Wisteria at Warner Center CCRC in Woodland Hills, California

by Jeff Shaw

WOODLAND HILLS, Calif. — Spieker Senior Development Partners has broken ground on Wisteria at Warner Center, a continuing care retirement community (CCRC) in Woodland Hills, approximately 25 miles northwest of Los Angeles. The senior living community will rise six stories on 17 acres and offer 486 units. Residential options range from one-bedroom options to penthouses of close to 3,000 square feet. Wisteria at Warner Center will offer a full continuum of care at the health center located adjacent to the community. Residents will have access to assisted living, memory care …

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AcquisitionsAssisted LivingMassachusettsNews

Cushman & Wakefield Arranges Sale of 91-Unit Arbors of Stoughton in Massachusetts

by Jeff Shaw

STOUGHTON, Mass. — Cushman & Wakefield has arranged the sale of the Arbors of Stoughton, a 91-unit assisted living and memory care community in Stoughton, 20 miles south of downtown Boston. Richard Swartz, Jay Wagner and Jim Dooley represented the seller, the Gralia Group of East Longmeadow and their institutional capital partner, in the transaction. The buyer was KIRCO in a partnership with Everbrook Senior Living, which will operate the community going forward. Cushman & Wakefield also arranged the acquisition financing for the borrower, with a loan of 65 percent …

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AcquisitionsAssisted LivingNewsSouth Carolina

Blueprint Brokers Sale of 77-Unit Community in South Carolina

by Jeff Shaw

SOUTH CAROLINA — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 77-unit assisted living and memory care community in South Carolina. The property was originally constructed in the late 1990s. While historically a stable performer, the community has recently struggled due to a combination of the effects of the pandemic and census losses driven by competition, according to Blueprint. The buyer is a company growing its seniors housing platform in the state. Further details were not disclosed.

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NewsPeople

Integral Promotes Heather Haley, Tina Schachter to Vice President Roles

by Jeff Shaw

CARLSBAD, Calif. — Integral Senior Living (ISL), a Carlsbad-based senior living management company with more than 100 communities in its portfolio, has named Heather Haley as its vice president of sales and marketing, and Tina Schachter as its vice president of sales training and executive search. Haley brings a decade of experience in healthcare marketing and sales. She will now oversee the marketing goals and strategies of communities in Tennessee, Texas, Oklahoma, Colorado, Utah and Georgia. Prior to her role at ISL, Haley started her career by spending five years …

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AcquisitionsIndependent LivingNewsOregon

Cushman & Wakefield Arranges $35M Sale of Crescent Park Independent Living Community in Eugene, Oregon

by Jeff Shaw

EUGENE, Ore. — Cushman & Wakefield has arranged the sale of Crescent Park, a 119-unit independent living community in Eugene. Built in 2014, the community is a three-story, 116,000-square-foot community on 5.7 acres. Inspired Healthcare Capital acquired the asset for $35 million. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig and Dan Baker represented the seller, an investment management firm with a focus on alternative assets including seniors housing. “Crescent Park showed exceptional stabilized performance throughout the pandemic and closed at the original contract price despite challenging capital markets,” …

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AcquisitionsDevelopmentNevadaNews

Blueprint Brokers Sale of Fully Entitled Development Site in Minden, Nevada

by Jeff Shaw

MINDEN, Nev. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a development site in Minden, approximately 50 miles south of Reno. The five-acre parcel is fully entitled for construction of a seniors housing community totaling up to 130 units. The site is strategically located adjacent to Carson Tahoe Minden Medical Center, which Carson Tahoe Regional Health — the region’s largest healthcare provider — operates. The buyer was a West Coast-based seniors housing developer that is affiliated with a seniors housing operator. Information on the seller and price …

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DevelopmentNewsSkilled NursingVirginia

Marquis Completes Renovations at Westmoreland Healthcare Center in Colonial Beach, Virginia

by Jeff Shaw

COLONIAL BEACH, Va. — Marquis Health Consulting Services has completed renovations at Westmoreland Rehabilitation & Healthcare Center, a skilled nursing facility in Colonial Beach, approximately midway between Richmond and Washington, D.C. The project included updates to the lobby, nurses’ stations and resident rooms, among other areas. The facility carries a five-star designation from the Centers for Medicare & Medicaid Services (CMS) for quality measures. Westmoreland maintains an outpatient rehabilitation program featuring occupational and physical therapy suitable for those high school aged and above.

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DevelopmentNewsPennsylvania

IntegraCare Opens 130-Unit Residence at Fritz Farm in York, Pennsylvania

by Jeff Shaw

YORK, Pa. — Seniors housing owner-operator IntegraCare has opened The Residence at Fitz Farm, a 130-unit community in York. The 124,000-square-foot facility sits on a 16.5-acre site that was previously part of a family farm. The property houses 68 independent living units, 42 assisted living residences and 20 memory care units. IntegraCare developed The Residence at Fitz Farm in partnership with Indianapolis-based Avenue Development.

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