HANOVER, N.H.; WINDHAM, N.H.; WOODSTOCK, Vt.; and WHITE RIVER JUNCTION, Vt. — Walker & Dunlop has provided a $46 million HUD 232/223(f) refinancing for four Terrace-branded seniors housing communities in New England. Walker & Dunlop’s Frank Cassidy led the team in refinancing a bridge loan that the Walker & Dunlop team previously arranged in December 2020 to facilitate a partner buyout and re-leverage the portfolio. The bridge loan was structured as eligible debt in anticipation of the HUD takeout. The portfolio refinancing comprised: Wheelock Terrace, a 70-unit assisted living facility …
SHORT PUMP, Va. — Erickson Senior Living has planned two new independent living buildings at Avery Point, a continuing care retirement community in Short Pump. Stafford Glen opened in February, and Langham Terrace will follow this summer. Stafford Glen and Langham Terrace feature 203 luxury one- and two-bedroom apartments. Additionally, two more buildings will open in 2024 — Boynton Place and Wilton Crossing — with reservations currently open. Avery Point, situated on a beautiful 94-acre campus, opened in October 2022. Upon full build-out, the community will feature 1,200 independent living …
DENVER — Healthpeak Properties Inc. (NYSE: PEAK) has named James Connor as an independent director to its board of directors. The appointment expands the board to eight directors, with an average director tenure of approximately seven years. Connor has extensive real estate experience, having most recently served as chairman and CEO of Duke Realty Corp. until its acquisition by Prologis in October 2022. He held a variety of leadership positions at Duke Realty for over 20 years. Before joining Duke Realty, Connor held executive and brokerage positions with Cushman & …
NAPERVILLE, Ill. — Charter Senior Living, a Naperville-based owner-operator, has promoted Jayne Sallerson from chief operating officer (COO) to president/COO. Founder Keven Bennema will continue in his role as CEO. Sallerson has been with the company for five of its seven years in existence. She previously worked at Benchmark Senior Living and Emeritus Senior Living, among other notable seniors housing organizations. Along with appointing Sallerson as president, Charter has added two new leadership positions to the company. Cathy Hampton was promoted to vice president of operations and Leslie Eldridge was …
It’s an open question whether the Federal Reserve will raise the federal funds rate for a ninth consecutive time when it convenes March 21-22 following the collapse of Silicon Valley Bank and Signature Bank and the downgrade of the U.S. banking system by Moody’s Investors Service. Citing a “rapidly deteriorating operating environment” despite regulators’ efforts to shore up the industry, Moody’s early this week downgraded the U.S. banking system to negative from stable. Beth Mace, chief economist and director of outreach for the National Investment Center for Seniors Housing & …
FORT LAUDERDALE, Fla. — Housing Trust Group (HTG) and Mount Hermon African Methodist Episcopal Church Inc. have broken ground on Mount Hermon Apartments, an affordable seniors housing community in Fort Lauderdale. Development costs are estimated at $43.5 million for the 104-unit community. The seven-story development will offer a mix of one- and two-bedroom units ranging from 650 square feet to 950 square feet. Apartments are reserved for income-qualifying residents age 62 and older who earn 60 percent or less of area median income (AMI), with rents ranging from $425 to …
BROCKTON, Mass — Lument today has provided a $15 million HUD Sec. 232/223(f) loan to refinance Alliance Health at West Acres, a 130-bed skilled nursing facility (SNF) in Brockton, approximately 20 miles south of Boston. Alliance Health owns and operates seven communities consisting of 807 skilled nursing and 54 residential care beds. Alliance Health at West Acres was originally built in 1965 and consists of a two-story building featuring 116 semi-private beds and 14 private beds. The community was substantially renovated in 2017 using bank debt, which the $15 million …
SIMI VALLEY, Calif. — Bayview PACE has arranged $13 million in Commercial Property Assessed Clean Energy (C-PACE) financing for the Varenita of Simi Valley seniors housing community in the Ventura County city of Simi Valley. The Class A property which opened in February 2022, totaling 97,000 square feet of space with 102 units of assisted living and memory care. Its location in the heart of Griffin Plaza, an active shopping center, provides opportunities for residents to explore and socialize in nearby retail shops and restaurants. The C-PACE loan is being …
PORTLAND, Ore. — LRS Architects, a Portland-based firm that works in seniors housing, has hired Jewel Kayfes as director of business development and marketing. Kayfes will oversee strategic business development and marketing initiatives for the firm to continue the growth and reach of LRS. Kayfes brings 14 years of experience leading large-scale teams in winning and maintaining client and partnership relationships that meet a company’s strategic vision. Kayfes received her bachelor’s degree from Oregon State University. She is also a national delegate and former president of CREW Portland and a …
AUSTIN, Texas — CBRE National Senior Housing has arranged an $18.2 million refinancing for Village on the Park Onion Creek, a Class A seniors housing community in Austin. The borrower is Bridgewood Property Co. Located in the established neighborhood of Onion Creek, the 124-unit, majority independent living community sits on a nine-acre campus. The property is near Austin’s Interstate 35 growth corridor, south of downtown, providing access to retail and the surrounding area. Aron Will, Tim Root and Michael Cregan of CBRE National Senior Housing arranged the 10-year, floating rate …