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Forest-Glen-Titusville
Affordable HousingDevelopmentFloridaNews

Housing Trust Group, HFH Supportive Housing Plan 80-Unit Affordable Seniors Community in Titusville, Florida

by Lynn Peisner

TITUSVILLE, Fla. — Housing Trust Group (HTG) has secured financing and began construction on Forest Glen, an. 80-unit, $28 million affordable seniors housing community in Titusville. The project is HTG’s second in Titusville and third development built in partnership with HFH Supportive Housing, a nonprofit dedicated to providing affordable housing and support services in Brevard County. Forest Glen will have 72 one-bedroom units and eight two-bedroom units with rents ranging from $750 to $1,350 per month for income qualifying residents who earn at or below 40 percent and 60 percent …

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Sunset-Haven-Brownsville
Affordable HousingNewsTexas

Hunt Capital Partners Transfers Ownership of LIHTC Property to City of Brownsville

by Lynn Peisner

BROWNSVILLE, Texas — Hunt Capital Partners has transferred its interests in Sunset Haven Apartments, a 100-unit affordable housing community in Brownsville, to the Brownsville Housing Management Corp. (BHMC), an affiliate of the Housing Authority of the City of Brownsville (HACB). Since its development in 2008, Sunset Haven has served seniors earning up to 30 and 60 percent of area median income (AMI). HACB’s goal is to acquire full ownership of the tax credit properties within city limits. Once a compliance period is reached, transference of ownership to a city or …

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Hawthorne-Heights
Affordable HousingDevelopmentFinanceFloridaKeyBankNews

National CORE Secures Funding for Affordable Community in Gainesville, Florida

by Lynn Peisner

GAINESVILLE, Fla. — KeyBank Community Development Lending and Investment has provided a $13 million construction loan to National CORE, a nonprofit developer, to finance Hawthorne Heights, an 86-unit affordable seniors housing project in Gainesville. KeyBank Commercial Mortgage Group also arranged a $6.5 million Freddie Mac permanent loan for the project.  Hawthorne Heights will serve seniors aged 62 and older with five units specifically set aside for individuals with special needs. The five-story building will be constructed on a 3-acre site, and, in addition to the special-needs units, will offer three …

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AcquisitionsCaliforniaNews

Northmarq Sells Southern California Seniors Housing Portfolio

by Lynn Peisner

LOS ANGELES — Northmarq’s West Village and Los Angeles investment sales teams have completed the sale of a three-property portfolio totaling 579 units in Los Angeles and Orange counties. Included in the sale were The Piedmont, a 198-unit mixed-income luxury seniors community in the North Hollywood neighborhood of Los Angeles and Burbank Senior Artists’ Colony, a 141-unit property in Burbank. The Piedmont sold for $45 million, while Burbank Seniors Artists’ Colony sold for $31.5 million. The price of the third property, Coventry Court in the Orange County community of Tustin, …

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DMK-prototype-building
AcquisitionsAssisted LivingKentuckyMemory CareNews

DMK Development Group Sells Four Properties for $65.3M 

by Hayden Spiess

LOUISVILLE and LEXINGTON, Ky. — DMK Development Group has sold four senior living properties for a total $65.3 million. American Healthcare REIT was the buyer.  Located in the Louisville and Lexington metros, the portfolio totals 316 units, with assisted living and memory care residences. Each of the properties was opened between 2020 and 2022.  Trilogy Health Services managed the properties through lease-up and stabilization. 

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Liberty-Heights
ColoradoDevelopmentNews

Ventas Completes $3.7M Renovation at Liberty Heights in Colorado Springs

by Hayden Spiess

COLORADO SPRINGS, Colo. — Ventas has completed a $3.7 million renovation at Liberty Heights, its senior living community in Colorado Springs.  The project included updates to the property’s dining room, resident corridors and shared spaces, with improvements to lighting, flooring and finishes. Blackcomb Construction Group partnered with the owner on the renovation.  Situated on 26 acres, Liberty Heights totals 234 residences and offers a full continuum of care. Senior Lifestyle manages the property on behalf of Ventas. 

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Bird-Chris-LCS
CCRCCompany NewsIllinoisIowaNews

LCS Expands CCRC Portfolio Through Strategic Merger With Vi

by Lynn Peisner

DES MOINES and CHICAGO — LCS, the third largest U.S. seniors housing operator, has entered into a strategic merger agreement to acquire Vi, an operator of 10 luxury continuing care retirement communities (CCRCs) across the country. Headquartered in Chicago, Vi is a hospitality-inspired senior living company with over 3,000 employees serving more than 4,000 residents. Vi’s CCRCs are located in six states: Arizona, California, Colorado, Florida, Illinois and South Carolina. The company was founded in 1987 as Classic Residence by Hyatt by Penny Pritzker and rebranded as Vi in 2010. …

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Company NewsMassachusettsNews

AlerisLife to Exit 116 Diversified Healthcare Trust Management Agreements, Sell All Assets

by Lynn Peisner

NEWTON, Mass. — Diversified Healthcare Trust (Nasdaq: DHC) has entered into agreements with AlerisLife Inc. and seven different operators to transition the management of 116 of DHC’s senior living communities managed by Five Star Senior Living, the operating division of AlerisLife. The transition of these management agreements will occur in tranches beginning this month (September) and is expected to be completed by year’s end. AlerisLife is also selling all its assets, including its 17 owned communities, and expects to complete a full wind-down of its business and operations in the …

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Serenova-Woodforest_Montgomery-Texas
Active AdultDevelopmentNewsTexas

Joint Venture to Develop 165-Unit Active Adult Community in Metro Houston

by Hayden Spiess

MONTGOMERY, Texas — A joint venture between Edison Equity Residential and ARCTRUST has announced plans to develop a 165-unit active adult community in Montgomery, located about 55 miles northwest of Houston.  Construction began in August, with the first move-ins scheduled to begin in November 2026. The community will be situated within the larger Woodforest master-planned development. Upon completion, Serenova at Woodforest will feature 133 one- and two-bedroom apartments and 32 private villas for residents age 55 and older.  Designed as a “concierge community,” Serenova at Woodforest will also offer personal assistance …

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AcquisitionsCompany NewsMassachusettsNewsOperations

Phoenix3 Acquires Quality Culinary Solutions, Rebrands

by Hayden Spiess

BOSTON — Phoenix3 Holdings, a collection of boutique culinary and hospitality solutions companies, has announced that it is rebranding and transitioning to Phoenix3 Collective. The company operates dining and hospitality programs within the senior living sector.  Additionally, Phoenix3 has acquired Quality Culinary Solutions (QCS), an advisory firm dedicated to transforming dining operations within self-operated seniors housing communities.  Phoenix3’s full suite now includes seven brands — Innovative Hospitality Solutions, Centicor Procurement Services, CrossCheck Quality Assurance, Culinour, Infuse Hospitality, QCS and Restaura, a dining management company for seniors housing communities. 

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