ST. PETERSBURG, Fla. — First Citizens Bank has provided a loan to refinance American House St Petersburg, a senior living community in St. Petersburg. The borrower is a joint venture between American House, Harrison Street and Prevarian Senior Living, which opened the community in 2021. This community features 66 independent living units, 66 assisted living units and 33 memory care units. Terms of the loan were not released.
ORLANDO — Spiezle, an Orlando-based architectural firm, has hired Suzanne Barnes as director of client services. Barnes has over four decades of experience in architecture, design and business development with work in senior living, healthcare and mixed-use development. She has spearheaded large-scale senior living, mixed-use design projects that serve more than 7,000 residents. Barnes is a member of the AIA National Design for Aging Advisory Board, Women in Architecture, and former chair of the Orlando Foundation for Architecture. She is currently a part of the Urban Land Institute’s Real Estate …
PORT ST. LUCIE, Fla. — Concord Summit Capital has arranged a total of $122 million in construction financing for the development of Encore at Tradition, a 415-unit active adult community underway in Port St. Lucie. David Larson, Daniel Eidson and Keegan Burger of Concord Summit arranged the financing, which comprised a $95 million principal loan and $27 million in mezzanine debt. The lenders were not disclosed. The borrower is America Walks at Port St Lucie LLC, a partnership between Pride One Construction, Brokaw Development Services and Riley Hotel Group that …
WARRENTON, Va. — Foundry Commercial has acquired White Springs Senior Living, a 90-unit seniors housing community located in Warrenton, approximately 48 miles outside of Washington, D.C. White Springs, which opened in 2020, offers assisted living and memory care services. Ryan Weekes and Zach Strunk of Foundry arranged the transaction, with support from Spring Arbor Associates. Capital Funding Group (CFG) provided funding for the acquisition. The seller, sales price and loan amount were not disclosed.
HARTLAND and GRAND BLANC, Mich. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a portfolio of two assisted living and memory care communities in Michigan. The assets are located in Harland and Grand Blanc, both south of Flint. The two properties feature a combined 122 units. The seller was a local development partnership looking to exit the industry. The buyer was a growing Michigan-based provider looking for newer, value-add opportunities. The price was not disclosed. Bradley Clousing and Daniel Geraghty led the transaction for SLIB.
FORT WAYNE, Ind. — Blueprint Healthcare Real Estate Advisors has arranged the sale of an assisted living and memory care community in Fort Wayne. Developed in 1996, this Northern Indiana assisted living and memory care community is located in close proximity to downtown Fort Wayne and offers large amenity spaces, private baths and outdoor programming areas. An institutional investor sold the asset to a behavioral healthcare provider with plans to convert the community. The price was not disclosed. The Blueprint team included Andrew Sfreddo, Shane Harmon, Gunnar Raney, Amy Sitzman …
WESTPORT, Conn. —LCB Senior Living, a Westport-based operator, has hired Gina Lucchese to its sales team in Fairfield County, Connecticut. Lucchese will serve as a sales specialist, where she will assist with sales across LCB Senior Living’s three communities in Fairfield County: The Residence at Summer Street in Stamford, The Residence at Selleck’s Woods in Darien, and The Residence at Westport. Previously, Lucchese served as a senior advisor with Epoch Senior Living and director of community relations at Benchmark Senior Living. She is also a licensed practical nurse with nearly …
BROCKTON, Mass. — MassHousing has provided $12.9 million in financing, which will extend affordability and fund improvements at the 106-unit Bixby Brockton Apartments in the Boston suburb of Brockton. Affordable Housing and Services Collaborative Inc. (AHSC), which owns Bixby Brockton, refinanced the property through MassHousing’s Multifamily Accelerated Processing (MAP)/Ginnie Mae Joint Venture program with partner lender Rockport Mortgage Corp. Of the 106 apartments, 104 are subsidized by two federal Section 8 Housing Assistance Payment contracts. As part of the transaction, AHSC has executed two new 20-year HAP contracts, which will …
WILMINGTON and NEWARK, Del. — Life Care Services (LCS) has completed renovations at Foulk Living and Shipley Living in Wilmington and Millcroft Living in Newark. In late 2021, LCS took over management of the senior living communities. In the early months, the communities rebranded and refocused on hospitality, community life opportunities and resident satisfaction. More recently, Foulk Living, Shipley Living, and Millcroft Living have undergone extensive physical renovations to provide each community with an updated, fresh, welcoming look. Renovations at Foulk Living included renovations to the lobby, corridors, sunlit “four …
WEST DES MOINES, Iowa — Resort Lifestyle Communities has opened Glen Meadows, an independent living community in Wes Des Moines. Glen Meadows offers 128 apartments for rent in studio, one-, two and three-bedroom options.