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Affordable HousingDevelopmentNew YorkNews

Douglaston Development Completes 188-Unit Phase I of Affordable Project in the Bronx

by Jeff Shaw

NEW YORK CITY — Douglaston Development has completed Phase I of a two-phase affordable seniors housing project in the Bronx. Located at 2856 Webster Ave., the 12-story, 188-unit building is adjacent to The New York Botanical Garden’s (NYBG) 250-acre grounds. Units are available to residents earning up to 50 percent of the area median income. Fordham Bedford Community Services will provide on-site social services. The building features 12,000 square feet of ground-floor retail space leased to Cherry Valley Marketplace, a longstanding neighborhood grocery staple. Phase II of the two-phase project, …

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AcquisitionsCCRCNewsOhio

Ziegler Arranges Sale of 246-Unit The Village at Marymount in Garfield Heights, Ohio

by Jeff Shaw

GARFIELD HEIGHTS, Ohio — Ziegler has arranged the sale of The Village at Marymount, a 246-unit senior living and skilled nursing retirement community in Garfield Heights, a suburb of Cleveland. Built in 1952, Marymount is a faith-based, nonprofit continuing care retirement community established by the Sisters of St. Joseph of the Third Order of St. Francis.  The buyer, a privately held owner and operator based in Lakewood, New Jersey, took over operations on June 30. The new owner assumed approximately $16 million of HUD debt as part of the transaction. …

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NewsPeople

Confluent Development Appoints Matt Derrick as Managing Director of Senior Living Division

by Jeff Shaw

DENVER — Confluent Development, a Denver-based real estate investment and development firm, has promoted Matt Derrick to managing director of the firm’s senior living development division.  Derrick will spearhead Confluent Senior Living’s continued strategic expansion plans both in its projects and internal team growth. Since joining Confluent in 2016 as a senior development director, Derrick has led the development team in the completion of nearly $600 million in senior living development projects, divided across 14 properties. In addition, Derrick has led the team to a $400 million senior living and …

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MassachusettsNewsOperationsPeople

EPOCH Names Wendy Nollman as Executive Director of Waterstone at the Circle in Boston

by Jeff Shaw

BOSTON — EPOCH Senior Living has named Wendy Nollman as executive director of Waterstone at the Circle, a luxury senior living community in Boston. Nollman joins the team with more than 15 years of leadership experience in senior living throughout Massachusetts. In her new position, she will be responsible for all daily operations. Prior to joining the Waterstone at the Circle team, Nollman was executive director of communities in nearby Wayland and Watertown. She earned a bachelor’s degree in business administration from The University of Rhode Island.

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Affordable HousingFinanceIndianaNews

JLL Arranges $7M Refinancing for Gary Manor Affordable Community in Gary, Indiana

by Jeff Shaw

GARY, Ind. — JLL Capital Markets has arranged a $7 million refinancing for Gary Manor, a 198-unit, age-restricted community in Gary, approximately 30 miles southeast of Chicago. Built in 1980 and substantially renovated in 2011, Gary Manor consists of a 12-story building for seniors and four, two-story walk-up buildings for families. Floor plans include 172 one-bedroom units, 20 two-bedroom units and six three-bedroom units. JLL worked on behalf of the borrowers, Monroe Group Limited and Steele Properties, to secure the 10-year, fixed-rate loan through Freddie Mac Multifamily. JLL Real Estate …

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MassachusettsNewsPeople

EPOCH Names Abbi Laushine Executive Director of Community in Westford, Massachusetts

by Jeff Shaw

WESTFORD, Mass. — EPOCH Senior Living has named Abbi Laushine as the next executive director at Bridges by EPOCH at Westford  Laushine’s daily responsibilities include directing the community’s overall operations and leading team members in providing care. For more than a decade, Laushine has worked with EPOCH Senior Living communities. She started her career as a Certified Nursing Assistant at Bridges by EPOCH at Westford and has served several different roles, including life enrichment director. She most recently was the Bridges program director at Waterstone on High Ridge in Stamford, …

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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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