ST. PETERSBURG, Fla. — Blueprint Heatlhcare Real Estate Advisors has arranged the sale of a 57-unit assisted living and memory care community in the Tampa suburb of St. Petersburg. Originally constructed in the 1960s, the community was positioned as one of the leading value-add providers and benefited from approximately $500,000 of recent capital improvements. A publicly traded REIT sold the asset to a local owner-operator looking to grow in metro Tampa. The price was not disclosed.
WESTCHESTER, Fla. — Miami-based commercial real estate developer MAS^AJP and its equity partner OCTA have opened The Contemporary, an independent living community in Westchester, approximately nine miles west of downtown Miami. Charter Senior Living operates the community, which features a mix of one- and two-bedroom options on a six-acre campus. The number of units was not disclosed. The Contemporary is located on the same campus as MedSquare Place, a Class A medical office building also developed by MAS^AJP and OCTA. The property will house some of South Florida’s best-in-class healthcare …
OMAHA, Neb. — Green Courte Partners LLC, a private equity firm currently investing through its Green Courte Real Estate Partners V investment fund, has acquired Bloomfield, a 95-unit active adult community in Omaha. True Connection Communities, the buyer’s wholly owned operating platform, will manage the community. The company’s operating portfolio now features 18 communities totaling approximately 2,700 units. “The community’s occupancy proved resilient through the pandemic, which is a testament to its unique product offering, compelling value proposition and desirable location,” says Matt Pyzyk, managing director of acquisitions. “We have …
CHARLESTON, S.C. — Ziegler has arranged $29.2 million in bond financing to fund a renovation project at Bishop Gadsden Episcopal Retirement Community in Charleston. The nonprofit continuing care retirement community is located on James Island, approximately six miles from downtown and six miles from Folly Beach. Founded in 1850 as a special ministry of the Episcopal Diocese of South Carolina, Bishop Gadsden has continuously expanded its mission to serve seniors for 173 years and remains affiliated with the Episcopal diocese. In 1987, Bishop Gadsden moved to its current location on …
UTAH — Blueprint Healthcare Real Estate Advisors has arranged the sale of two Class A assisted living and memory care communities in Utah. The two communities, built by the same developer in 2011 & 2016, respectively featured similar layouts, each with approximately 90 units. Both were over 97 percent occupied at the time of sale. An institutional investor sold the assets to a private equity firm for an undisclosed price. Avista Senior Living will continue to operate the communities following the sale.
NEW YORK CITY — Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, financed over $191 million in seniors housing financing during fourth-quarter 2022. The Manhattan-based financial services firm closed a $39 million bridge loan to facilitate the acquisition of a two-property skilled nursing portfolio in Fort Lauderdale, Florida: Manor Oaks and Manor Pines. The facilities are three miles apart and comprise 322 beds across approximately 111,800 square feet. Adam Offman originated the transaction. Offman also originated a $24.3 million bridge refinancing for a portfolio of two skilled nursing facilities …
PORTLAND, Ore. — Portland-based design firm LRS Architects has promoted Mira Boumatar and Kelsey Loverro to associate. Boumatar works in various studios, including civic, commercial, housing and adaptive reuse. Loverro works in the firm’s multifamily housing and workplace studios and has also lent her design expertise to the hospitality and auto sectors. Boumatar joined LRS in 2015. She serves on the firm’s Justice, Equity, Diversity and Inclusion (JEDI) Committee, as well as its Practice Committee, Social Committee and the CCA Taskforce. She earned her bachelor’s degree in architecture from the …
PHILADELPHIA — New construction of seniors housing communities has been noticeably slow in recent years, at first due to the COVID-19 pandemic stopping projects in their tracks, and then by high interest rates and land costs. Fewer than 11,000 units were added within the NIC MAP 31 Primary Markets last year, the weakest inventory growth since 2014, according to the National Investment Center for Seniors Housing & Care (NIC). Construction starts were relatively weak at 3,013 units in the fourth quarter, continuing the slower pace seen in the third quarter. …
FLORISSANT and DeSMET, Mo. — Blueprint Healthcare Real Estate Advisors has arranged the sale of two seniors housing communities in northwest St. Louis. Pacifica Senior Living divested of the communities as non-core assets. Located in Florissant and DeSmet, the properties total 165 units of independent living and assisted living. An investment fund out of St. Louis, a new entrant to the seniors housing industry, bought the assets and plans to convert one property into multifamily housing and maintain the other as a seniors housing community. The price was not disclosed.
CHARLOTTESVILLE, Va. — Commonwealth Senior Living, a Charlottesville-based owner, has hired Marybeth Showalter as vice president of associate learning, development and retention; Amber Turner as vice president of human resources; and Amanda Greene as director of candidate experience. Showalter previously served as a regional human resources professional with the company. In this new role, she will oversee Commonwealth’s training and development programs and enhance the company’s ability to deliver on its employee value proposition. Turner was most recently vice president of talent optimization at Navion Senior Living. She also previously …