CLEVELAND — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 99-bed skilled nursing facility in Cleveland. The transaction was part of a HUD short-sale process. The community was built in 1987 and well maintained, but struggled with survey issues and severe financial turmoil. The buyer was a New Jersey-based owner-operator with existing experience in Ohio. Details on the seller and price were not disclosed.
WINTER PARK, Fla. — FK Architecture, a Winter Park-based firm that works in seniors hosuing, has hired architects Connor Privett and Amy VanderMeer. Privett joins the firm as an architectural designer, while VanderMeer joins as a project architect. Privett brings six years of experience designing and detailing modular homes, multifamily and single-family residential communities, hospitality projects and master planning. He earned his master’s degree in architecture from Kansas State University. VanderMeer is a registered architect with almost two decades of experience in architecture and design. She has extensive experience in …
DALLAS — Bay 9 Holdings LLC, an affiliate of Lapis Advisers LP, has agreed to acquire Edgemere, a continuing care retirement community (CCRC) in Dallas. The high-profile asset has been operating under a forbearance agreement with its lender, UMB Bank, since January 2022. Located on a 16-acre site, Edgemere features 304 independent living units, 60 assisted living units, 31 memory care units and 72 skilled nursing beds. The initial phase of development opened in 2001. Although the seller is not disclosed, Lifespace Communities acquired Edgemere from Senior Quality Lifestyles Corp. …
MEMPHIS, Tenn., and ORMOND BEACH, Fla. — Baker Barrios Architects completed Brightmore of East Memphis, a 180-unit seniors housing development in Memphis, as well as the start of construction on Aden Senior Living, a 131-unit development in Ormond Beach. Both developments include assisted living and memory care facilities, while Brightmore of East Memphis also features an independent living component. Brightmore of East Memphis spans 210,000 square feet and features 122 independent living units, 34 assisted living units and 24 memory care units. Baker Barrios provided architecture and landscape design services. …
WESTPORT, Conn. — Maplewood Senior Living has announced that Gregory Smith, its founder, president and CEO, died over the weekend. Although the cause of death was not released, the company made it clear that the passing was not expected. He was 54. Smith founded the Westport-based company in 2004 and it has grown to 16 communities across five states since that time. In recent years he launched the company’s high-end Inspīr brand, starting with the 23-story, 215-unit Inspīr Carnegie Hill on Manhattan’s Upper East Side. “Greg was a true inspiration …
LAGUNA NIGUEL, Calif. — Tucson-based Watermark Retirement Communities and Alliance Residential Company have opened the leasing office at Watermark Laguna Niguel. The assisted living and memory care community is scheduled to open this summer.
CHICAGO — Ventas Inc. (NYSE: VTR) has announced that it intends to take ownership of the collateral that supports its approximately $486 million mezzanine loan to Santerre Health Investors. The Santerre mezzanine loan is secured by equity interests in entities that collectively own a diverse pool of medical office buildings, seniors housing communities, triple-net leased skilled nursing facilities and hospital assets in the United States. Ventas expects to take ownership of the Santerre portfolio through a “loan to own” structure that converts the outstanding principal amount of the Santerre loan …
DALLAS — Sonida Senior Living (NYSE: SNDA), a Dallas-based owner-operator, saw stock prices plummet Thursday, March 30, as its fourth-quarter 2022 earnings press release warned that the company may be on its way to failure. “Due to the current inflationary environment, elevated interest rates and continued impact of COVID-19 on our financial position, as well as our upcoming debt maturities, our management concluded as of Dec. 31, 2022 there is substantial doubt about our ability to continue as a going concern,” the press release reads. “While the company’s plans are …
HERNDON, Va. — Brightview Senior Living has opened Dulles Corner in Herndon, a Washington, D.C. suburb near Dulles International Airport. Dulles Corner offers 196 units of independent living, assisted living and memory care. The development marks Brightview’s 46th community and its third in Fairfax County. “Brightview Dulles Corner follows a new trend to embed senior living into the greater community,” says Doug Dollenberg, president and CEO of Brightview. “Innovation Center Station is a $1 billion investment with the intent to offer a thoughtful live, work and play neighborhood in a …
CORAL GABLES, Fla. — Watermark Retirement Communities and ZOM Senior Living have opened The Watermark at Coral Gables, a 198-unit seniors housing community in the Miami suburb of Coral Gables. The community offers independent living, assisted living and memory care in studio, one-bedroom and two-bedroom options. It is part of Watermark’s Élan Collection of high-end seniors housing properties. The Watermark at Coral Gables spans over 256,000 square feet, including 50,000 square feet of amenities. It boasts the only rooftop pool at a senior living community in Coral Gables, according to …