BOSTON — 2Life Communities has received more than $7.6 million from the U.S. Department of Housing and Urban Development’s (HUD) Office of Multifamily Housing Programs. The funding is part of HUD’s recent announcement of $160 million in grants awarded to nonprofit organizations across the country that support the development of new or redeveloped affordable multifamily rental housing and ongoing project-based rental assistance for low- and very-low-income seniors. The Section 202 Supportive Housing for the Elderly grant funding for 2Life will go towards creating 127 new affordable apartments for seniors with …
CHARLOTTE, N.C. — Berkadia has arranged the sale of an active adult community in Charlotte. David Fasano, Ross Sanders, Cody Tremper, and Mike Garbers of Berkadia Seniors Housing & Healthcare led the transaction on behalf of the seller, Evergreen Residential. The property opened in fall 2020 and displayed an impressive lease-up velocity. The property is located in one of Charlotte’s exclusive master-planned communities. The local area offers an array of shopping, fitness and entertainment opportunities and boasts high median household incomes and housing values. The buyer, price and name of …
GEORGIA — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 94-unit personal care community in Georgia. The buyer is a regional owner-operator looking to make significant capital improvements to the community. Daniel Geraghty and Bradley Clousing led the transaction for SLIB. Further details were not disclosed.
SAN RAMON, Calif. — Belmont Village Senior Living has completed vertical construction of Belmont Village San Ramon, its fifth community in the Bay Area. The property is located within the Bishop Ranch master-planned community, which includes retail, dining and entertainment. Harrison Street Real Estate is the development partner, with Synovus Bank and Cadence Bank providing debt. Belmont Village San Ramon is a six-story, 175,320 square-foot senior living community that is scheduled to open in late 2024. With views of Mount Diablo and surrounding hills, Belmont Village San Ramon offers independent …
DALLAS — Sonida Senior Living Inc. (NYSE: SNDA), a Dallas-based owner-operator of communities and services for seniors, has entered into loan modification agreements with Fannie Mae covering all 37 of its communities mortgaged through the government-sponsored entity. On June 29, Sonida entered into a comprehensive forbearance agreement with Fannie Mae as the first of a two-step process to modify all existing mortgage agreements with Fannie Mae. The modifications finalize the comprehensive restructuring. The terms of the Fannie Mae loan modifications were consistent with those set forth in the forbearance agreement. …
LAS VEGAS — ZNest.com, a Las Vegas-based seniors housing referral platform. has acquired Odom Senior Care, which was launched by two-time NBA champion and former reality TV star Lamar Odom earlier this year to provide referral services for senior care. As part of the deal, Odom will assume the position of chief creative officer at ZNest.com. Odom embarked on a mission to demystify the complex world of senior living and care after recognizing the challenges families face when searching for quality, affordable care solutions. Inspired by Odom’s 96-year-old grandmother, Odom …
DALLAS — Lifespace Communities, a Dallas-based operator, has hired Swapna Tavtum as vice president of data and analytics. Tavtum will oversee all data and analytics, leading the organization in harnessing and serving up data as business intelligence to support Lifespace in making informed decisions, improve operations, achieve strategic objectives and find revenue-generating opportunities. Tavtum has over 17 years of experience leading digital transformations that improve operations and grow revenue through advanced analytics strategies. She has led large digital transformation projects for organizations like Starbucks, PVH, Southeastern Grocers and Rent-A-Center, and …
WAREHAM, Mass. — Pennrose and Wareham Redevelopment Authority (WRA) have begun construction on Littleton Drive, a 93-unit mixed-income development for families. The project is being built on a vacant, 16-acre plot in Wareham, a South Coast city along Buzzards Bay and just west of Cape Cod. It is scheduled for completion in summer 2024. Plans for Littleton Drive include a 49-unit family development with a mix of workforce and affordable apartments and a 44-unit affordable development for seniors age 62 and older. One-, two-, and three-bedroom apartments will be available …
SMITHTOWN, N.Y. — Live Oak Bank has provided a $29 million loan for Benchmark Senior Living. The financing replaced the original construction debt for a 101-unit assisted living and memory care community in the Long Island town of Smithtown. Benchmark opened the community in 2018.
As operators build back occupancy post-pandemic, they’re also drawing up new blueprints for success. Operators are trying to figure out what baby boomers want in a senior living community. A renewed emphasis on customer service is critical. New marketing strategies are embracing the latest technology, even artificial intelligence. “Brand” and “culture” are two words that operators bring up over and over again. While the labor crunch has eased a bit, operators are still shorthanded. Effective recruitment and retention practices are vital for sound operations. Happy employees make for happy residents …