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Affordable HousingCaliforniaDevelopmentNews

EAH Housing Begins Construction of 76-Unit Mission Paradise in Hayward, California

by Jeff Shaw

HAYWARD, Calif. — EAH Housing has broken ground on Mission Paradise, an affordable seniors housing community in the Bay Area city of Hayward. DAHLIN Group designed the property, which J.H. Fitzmaurice Inc. is building. “We are amid a housing crisis that is being exacerbated by inflation and lack of affordable housing across the country, and more specifically in California,” says Assemblymember Liz Ortega. “We have a moment of opportunity in the here and now to take actionable steps that will support organizations like EAH Housing to address the severe housing …

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NewsOperationsPeople

Grace Management Promotes Brian Storey to Vice President of Operations

by Jeff Shaw

MAPLE GROVE, Minn. — Grace Management Inc. has promoted Brian Storey to the newly created position of vice president of operations. Storey joined Grace Management in February 2015 as the executive director of The Highlands, located in Topsham, Maine. From there, he moved into a regional director of operations role in 2017. As vice president of operations, Storey directs and manages ancillary operations functions for Grace Management and supports capital projects. Storey is a graduate of the Kendall College School of Hospitality Management, where he earned a bachelor’s degree in …

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DevelopmentNewsTexas

Watermark Opens 231-Unit The Hacienda at Georgetown in Texas

by Jeff Shaw

GEORGETOWN, Texas — Watermark Retirement Communities has opened The Hacienda at Georgetown, a 231-unit luxury property in Georgetown, approximately 25 miles north of Austin. The apartments feature one- and two-bedroom options and offer independent living, assisted living, short-term stays or memory care. The Georgetown property is the latest addition to Watermark’s high-end Élan Collection. “The Hacienda at Georgetown fills the luxury senior living gap in the market created by the greater Austin area population boom,” says David Freshwater, chairman of Watermark.

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NewsPeople

Charter Hires Four to Leadership Positions

by Jeff Shaw

NAPERVILLE, Ill. — Charter Senior Living, a Naperville-based operator with 47 communities across 13 states, has hired Janet Tiemeyer as vice president of health and wellness; Thomas “Tip” Hoge as senior director of facility operations; Ben Scott as regional director of operations; and Jennifer Cayson as clinical specialist. Tiemeyer joins the Charter Senior Living team with 19 years of experience serving seniors and leading clinical departments. Most recently, she served as vice president of clinical integration and strategic accounts for St. Louis-based EmpowerMe Wellness. Prior to that, she held many …

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DevelopmentMinnesotaNews

New Perspective Opens 10th Twin Cities Location in Arden Hills, Minnesota

by Jeff Shaw

ARDEN HILLS, Minn. — New Perspective has completed a 146-unit seniors housing community in Arden Hills, a suburb of Minneapolis-St. Paul. The 192,000-square-foot community offers independent living, assisted living and memory care services. The property is New Perspective’s 10th in the Twin Cities metro area. New Perspective Arden Hills will partner with Bethel University, the community’s next-door neighbor, in providing a variety of campus opportunities for those living in the building.

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CaliforniaFinanceNewsSkilled Nursing

CFG Provides $10.9M HUD Refinancing for Skilled Nursing Facility in California

by Jeff Shaw

CALIFORNIA — Capital Funding Group (CFG) has provided $10.9 million in financing, which supported the refinancing of an existing bridge loan, executed by CFG, into a HUD loan. The refinancing is for a 99-bed skilled nursing facility in California. Further details were not disclosed. Capital Funding Group’s Tim Eberhardt and Ava Julio originated the transaction for the company.

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Assisted LivingCaliforniaDevelopmentNews

Griffin Living Receives $3M Loan for Seniors Housing Land Site Acquisition in Santa Clarita, California

by Jeff Shaw

SANTA CLARITA, Calif. — Griffin Living has received $3 million in financing from Hankey Capital. The funds support the company’s acquisition of an assisted living and memory care development site in Santa Clarita, approximately 35 miles northwest of Los Angeles. The new community will be located at the corner of Camino Del Arte and Copper Hill Drive, in close proximity to a range of high-end retail and dining options. The approved plans by the city will result in capacity for more than 100 residents. “We are excited to once again …

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MassachusettsNewsPeople

Waterstone Hires Fred Kelly as Executive Director of Community in Lexington, Massachusetts

by Jeff Shaw

LEXINGTON, Mass. — Waterstone has appointed Fred Kelly as the executive director of Waterstone of Lexington in the Boston suburb of Lexington. Kelly joins the independent and assisted living community after serving as executive director for its adjacent sister community, Bridges by EPOCH at Lexington, since July 2021. Waterstone of Lexington opened in November 2022. Kelly earned an MBA from the State University of New York at Oswego, a master’s degree in social work from Hunter College, and a bachelor’s degree in English from Ithaca College. He is also a …

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Affordable HousingDevelopmentGeorgiaNews

McShane to Build 100-Unit Veranda at Assembly Affordable Community in Atlanta

by Jeff Shaw

ATLANTA — The Integral Group has selected McShane Construction Co. to build Veranda at Assembly. Located in Atlanta, the affordable senior living community will offer 100 units. Positioned on a 2.9-acre site on the northwest side of the city, the development will rise four stories. The property will offer nearly 3,000 square feet of amenity space, with units available in one- and two-bedroom floorplans. This project is the fifth collaboration between Integral and McShane. Integral selected SK Collaborative as a consultant to finalize plans and review associated materials and installation …

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AcquisitionsNew MexicoNewsSkilled Nursing

ESI Brokers $16.5M Sale of Skilled Nursing Community in New Mexico

by Jeff Shaw

NEW MEXICO — Evans Senior Investments (ESI) has arranged the sale of a skilled nursing community on behalf of a Southwest regional operator. The asset is located in the northwestern part of New Mexico and included 101 skilled nursing beds. Despite the community being located in a rural market, the asset maintained an occupancy average of 83 percent during the marketing process. Upon closing, the community was 95 percent occupied. A West Coast-based group acquired the asset for $16.5 million or $163,366 per bed. It is the buyer’s first property …

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