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Former Welltower CEO George Chapman Dies at 75

by Jeff Shaw

TOLEDO, Ohio — Longtime seniors housing industry executive, most recently the founder and CEO of ReNew REIT, George Chapman died Wednesday. Although the cause of death was not disclosed, ReNew described his passing as peaceful and surrounded by family. He was 75. Chapman was the former CEO of Welltower (NYSE: WELL), then known as Health Care REIT, from 1995 to 2014. Under his watch, the company grew from a mid-sized company with a market capitalization of $394 million to a REIT giant with a market cap of $15.5 billion. Welltower …

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AcquisitionsActive AdultFloridaNews

Virtus, Blaze Acquire 163-Unit Active Adult Community in Davenport, Florida

by Jeff Shaw

DAVENPORT, Fla. — Virtus Real Estate Capital and Blaze Capital Partners have acquired The Pointe at Siena Ridge, a 163-unit active adult community in Davenport, a suburb southwest of Orlando. This is Blaze’s fourth acquisition in the active adult sector over the past five months following Hardy Springs in the Paulding County submarket of Atlanta; Annabelle on Main in the Duluth submarket of Atlanta; and Sage Stone Oak in San Antonio, Texas. The Pointe at Siena Ridge is Blaze’s first active adult investment in Florida. “As the baby boomer generation …

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Active AdultDevelopmentMassachusettsNews

Habitech Acquisitions to Develop 141-Unit Active Adult Community in Stow, Massachusetts

by Jeff Shaw

STOW, Mass. — Massachusetts-based developer Habitech Acquisitions has acquired 37.3 acres in Stow, about 30 miles west of Boston, with plans to construct a 141-unit active adult community. Known as The Cottages at Wandering Pond, the project will feature a recreation area with walking trails, as well as a clubhouse, pool, activity lawn and a pickleball court. Jake Parsons of SVN | Parsons Commercial Group | Boston represented the seller, EFMC Associates, in the land deal and procured Habitech Acquisitions as the buyer. A construction timeline was not disclosed.

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AcquisitionsAssisted LivingGeorgiaNews

Blueprint Arranges Sale of Three Communities in Georgia

by Jeff Shaw

GEORGIA — Blueprint Healthcare Real Estate Advisors has negotiated the sale of three seniors housing communities in Georgia. Located in secondary markets throughout the state, the portfolio totals 156 units of assisted living and memory care. While at the time of sale the communities were not stabilized, the portfolio was well-positioned to capitalize on the strong demand for affordable senior care within their respective local markets, according to Blueprint. The buyer was a regional owner-operator that has been actively expanding within the Southeast. The seller and price were not disclosed.

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CCRCDevelopmentFinanceNewsTexas

Ziegler Arranges $76M Bond Financing for Brazos Presbyterian Homes in Texas

by Jeff Shaw

HOUSTON — Ziegler has arranged $76 million in bond financing for Brazos Presbyterian Homes (BPH), a nonprofit owner-operator based in Houston. The tax-exempt, draw-down bonds are supported by a three-bank syndicate comprised of Amegy Bank, Hancock Whitney and Trustmark. BPH owns and operates three continuing care retirement communities in Texas: Brazos Towers at Bayou Manor, The Hallmark and Longhorn Village. The bonds will fund an expansion project at Longhorn Village, refinance bonds from 2013 and pay the costs of issuance. The expansion project will add 48 independent living apartments to …

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CaliforniaDevelopmentNews

Confluent, Concord, MorningStar Open 166,000 SF Community in Mission Viejo, California

by Jeff Shaw

MISSION VIEJO, Calif. — Project partners MorningStar Senior Living, Confluent Senior Living and Concord Development Partners have completed MorningStar of Mission Viejo. The 166,000-square-foot, 132-unit senior living community is located in the Orange County city of Mission Viejo. The developers broke ground in March 2021. The community offers studio, one- and two-bedroom suites as well as 126 below-grade parking spaces. The property features 13,809 square feet of outdoor space including a pool, dog run, resident garden and al fresco dining. The project introduces Whole Health Standards, a new criteria under …

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Assisted LivingDevelopmentMassachusettsNews

Benchmark Plans $13M Renovation at Evans Park at Newton Corner in Massachusetts

by Jeff Shaw

NEWTON, Mass. — Benchmark Senior Living has planned a $13 million renovation project at Evans Park at Newton Corner in the Boston suburb of Newton. The project will modernize the 30-year-old assisted living and memory care community. It is scheduled for completion in early 2024. The project is also honoring the building’s history, which dates back to 1905, by adding external lighting to highlight unique architectural features. Built by famed developer Warren Evans, “The Evans,” as it was first known, was considered to be the most beautiful apartment complex in …

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Assisted LivingDevelopmentNew JerseyNews

Sunrise Opens 86,000 SF Community in Livingston, New Jersey

by Jeff Shaw

LIVINGSTON, N.J. — Sunrise Senior Living has opened the doors on Sunrise of Livingston in Livingston, approximately 20 miles west of Manhattan. The three-story property totals 86,000 square feet of space for assisted living and memory care. Although the number of units was not disclosed, Sunrise said the property can serve “more than 120 residents.” Lantz-Boggio Architects designed the property, which Wohlsen Construction Co. built.

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