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Silverstone Senior Living Appoints Tami Cumings as Chief Operating Officer

by Jeff Shaw

DALLAS — Silverstone Senior Living has appointed Tami Cumings as chief operating officer. In this newly created position, Cumings will oversee asset management, property operations and sales and marketing for the company’s growing senior housing portfolio. With more than 25 years of executive-level experience in senior living, Cumings was most recently vice president of Caddis, where she oversaw the growth and operational relationships for the Heartis Senior Living brand. Prior to Caddis, she held executive-level positions at Arbor Co., Sunrise Senior Living, US Memory Care, A Place for Mom and …

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Active AdultFeaturesNews

Residents Share Insightful Firsthand Accounts of Life in Active Adult Communities

by Jeff Shaw

DALLAS — Aging is something that happens to all of us physically, but according to some residents at active adult communities in the Dallas-Fort Worth (DFW) area, the psychological and emotional difficulties of growing older are easier to bear in the company of others. Operators of this asset class are making this possible by delivering products and services that reflect the name “active adult.” Shared fitness classes, walking groups, book clubs, card games, communal gardening and organized shopping trips are but a few of the ways in which active adult …

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CaliforniaFinanceNews

Walton Street Arranges $59.2M Refinancing for Watermark at Almaden in San Jose

by Jeff Shaw

SAN JOSE, Calif. — An affiliate of Walton Street Capital has originated a $59.2 million loan to refinance debt on Watermark at Almaden, a 200-unit seniors housing community in San Jose. The borrower is a partnership between Alliance Residential and Affinius Capital. Delivered in late 2020, the property is currently in lease-up. Units come in studio, one-bedroom, two-bedroom and companion floorplans, and the community features nearly 70,000 square feet of amenity space. The type of care offered was not disclosed.

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FinanceNewsWashington

Cushman & Wakefield, Greystone Close $14M Refinancing for Kōz on Weaver Road in Snohomish, Washington

by Jeff Shaw

SNOHOMISH, Wash. — Cushman & Wakefield and Greystone jointly announced the firms have arranged and closed, respectively, the refinance of Kōz on Weaver Road, a 100-unit seniors housing community in Snohomish, approximately 30 miles northeast of Seattle. The property was recently completed in 2020. Cushman & Wakefield served as the exclusive advisor to an affiliate of Kōz Development LLC in arranging approximately $14 million of financing for the multifamily asset. Greystone provided the Fannie Mae DUS financing was provided by Greystone. A Cushman & Wakefield Equity, Debt & Structured Finance …

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Company NewsNewsPeople

Pennant Group Appoints Lynette Walbom as CFO

by Jeff Shaw

EAGLE, Idaho — The Pennant Group Inc. (NASDAQ: PNTG), the parent company of the Pennant group of affiliated home health, hospice and senior living companies, has appointed Lynette Walbom as chief financial officer. Before joining Pennant, Walbom was vice president of financial reporting and tax for Raising Cane’s Restaurants LLC, a national restaurant chain operating in 35 states, which more than doubled in size — based on number of restaurants and geographic footprint — during her tenure. At Raising Cane’s, she had broad responsibility for financial reporting, acquisitions, tax, accounting …

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CCRCDevelopmentFeaturesNewsUtah

Joint Venture Receives $160M C-PACE Financing for Summit Vista CCRC in Taylorsville, Utah

by Jeff Shaw

TAYLORSVILLE, Utah — D.A. Davidson’s Special District Group, in partnership with Petros PACE Finance, has arranged $160 million in Commercial Property Assessed Clean Energy (C-PACE) financing for Summit Vista, Utah’s first life plan retirement community. Representing the largest C-PACE deal in history, according to the arrangers, the proceeds will be dedicated toward ongoing construction with a focus on enhancing the development’s energy efficiency, renewable energy and water efficiency. Owned in partnership with Gardner Group, Wasatch Group and Solamere Capital, Summit Vista offers a full continuum of care, including independent living, …

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DevelopmentMarylandNews

Park Avenue Lifestyle to Develop $70M Seniors Housing Project at James Run in Metro Baltimore

by Jeff Shaw

BEL AIR, Md. — Park Avenue Lifestyle has purchased a site within James Run, a mixed-use development underway in the Baltimore suburb of Bel Air, from master developer JEN Partners, a real estate private equity fund based in New York. The Orlando-based buyer plans to develop a $70 million seniors housing community on the site that will feature independent living, assisted living and memory care units, as well as a fitness center, outdoor courtyards, walking paths and an in-house restaurant and pub. At full build-out, which is anticipated for 2025, …

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Assisted LivingCaliforniaDevelopmentNews

Sunrise Senior Living Opens 75,000 SF Community in Orange, California

by Jeff Shaw

ORANGE, Calif. — Sunrise Senior Living has opened Sunrise of Orange in Orange, approximately 30 miles southeast of downtown Los Angeles. HPI Architecture designed the community, which general contractor W.E. O’Neil Construction built. Although the number of units was not disclosed, Sunrise says the property can serve more than 100 residents and will offer assisted living and memory care accommodations. The 75,000-square-foot, three-story property sits on a 1.5-acre site adjacent to Eisenhower Park.

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FinanceFloridaNews

First Citizens Provides $30M in Financing for Amavida Living Community in Fort Myers, Florida

by Jeff Shaw

FORT MYERS, Fla. — First Citizens Bank, through its Healthcare Finance group, has provided a $30 million refinancing for Amavida Living Community in Fort Myers. The community features 251 independent living units, 113 assisted living units and 23 memory care units. An affiliate of Quadrum Global owns the property.

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DevelopmentMinnesotaNews

Ryan Cos., Great Lakes Management Complete 200-Unit Talamore Senior Living Woodbury in Minnesota

by Jeff Shaw

WOODBURY, Minn. — A partnership between Ryan Cos. US Inc. and Great Lakes Management have completed construction of Talamore Senior Living Woodbury in Woodbury, just east of Minneapolis-St. Paul. Talamore Woodbury is a four-story, 245,00-square-foot senior living community with 90 independent living units, 70 assisted living units, 26 memory care units and 14 care suites. Construction began in September 2021. This is the second Talamore senior living community in the state and the third through the partnership between Ryan and Great Lakes. The property is also the second joint venture …

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