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GARLAND, Texas — JLL has arranged a $61 million construction loan for The Preserve at Spring Creek, a 230-unit seniors housing project that will be located in the northeastern Dallas suburb of Garland. The country club-style facility will be situated on 35.5 acres and will offer assisted living, independent living and memory care services. Alanna Ellis and Allison Holland of JLL arranged the financing through a regional bank on behalf of the borrower, a joint venture between JAMP Enterprises LLC and Frontier Management LLC. The floating-rate loan carries a 15-year …

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SAN YSIDRO, Calif. — KeyBank Community Development Lending and Investment has provided $49.3 million in construction financing to 4132 Beyer L.P., a collaboration between nonprofit affordable housing Metropolitan Area Committee on Anti-Poverty of San Diego County and Riverside-based Kingdom Development. The partnership will use the funds to develop Ventana al Sur, an affordable seniors housing community in San Ysidro, just across the Mexican border from Tijuana. Ventana al Sur will include 100 one- and two-bedroom apartments for seniors, as well as a manager unit. The units will be restricted to …

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GLASTONBURY, Conn. — Hamister Real Estate Equity Fund III, a private real estate fund sponsored by Hamister Group, has acquired Brookdale Buckingham, a standalone memory care community in Glastonbury, a suburb of Hartford. The community will be renamed Buckingham Heights. The community first opened in 2001 and underwent a full renovation in 2020. The community features 46 units in a 33,640-square-foot building. Buckingham Heights will become the ninth senior living community in the company’s managed portfolio.

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ROCKWALL, Texas — Ridgeline Management Co. has hired M. Christopher Dover as chief financial officer. Dover is a healthcare financial operations executive with 22 years of experience in the healthcare industry, including general acute care hospitals, medical groups, senior living and medical imaging. Areas of expertise include healthcare finance and accounting, physician practice management, senior living finance and healthcare business valuations. Dover has previously served as chief financial officer for hospitals and healthcare systems ranging from Holdenville General Hospital, a community hospital in Oklahoma early in his career, to large, …

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SAN JOSE, Calif. — The Mogharebi Group (TMG) has arranged the sale of a two-property affordable seniors housing portfolio in San Jose. ROEM Development sold the assets to an undisclosed buyer for $41.2 million. Built in 2001 and 2003 by the seller, Monte Vista Gardens Senior 1 and 2 offer a total of 118 units across two residential buildings. Located at 2605 La Hacienda Court and 2600 Nuestra Castillo Court, the two- and three-story, controlled-access complexes include a community center with library and kitchen, a garden/courtyard area, solar panels and …

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GRAND RAPIDS, Mich. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Pilgrim Manor, a seniors housing community in Grand Rapids. The property features 59 assisted living and memory care units and 55 licensed skilled nursing beds. The community is a preferred provider for Spectrum Health System, the largest health system in Michigan. United Church Homes originally acquired the asset in 2016 from another nonprofit owner. Following takeover, ownership completed extensive capital improvements, interior renovations and a comprehensive building expansion. However, as the company’s only Michigan location, performance …

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MONTVALE, N.J. — Thrive Senior Living is hosting a grand opening on Oct. 6 for Thrive at Montvale, a borough along the New York State border just northwest of New York City. The property offers 203 units of independent living and assisted living, as well as small-house memory care. The development is anchored by the 33,150 square-foot Social Court that includes an outdoor gaming space, movie theater and greenhouse.

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NEW YORK CITY — Newmark Valuation & Advisory has promoted Benjamin Tate to the positions of senior managing director and leader of the company’s Healthcare & Seniors Housing Specialty Practice. Tate will work closely with Matt Yance and Tim Gillespie, both promoted to executive vice president positions, and new hire, Charlie Henderson, also an executive vice president. Yance, Gillespie and Henderson have been tapped to lead the seniors housing, hospitals and medical office sub-categories, respectively. Tate has appraised over 600 assets throughout his career, including notable portfolios for domestic and …

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WEST VALLEY CITY, UTAH — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Lakeside Village, an active adult property in West Valley City. Constructed in 1997, Lakeside Village features 144 one- and two-bedroom residences with eight-foot ceilings, walk-in closets and private balconies or patios. The community includes a swimming pool, hot tub, community garden and pond. Danny Shin and Brock Zylstra of IPA represented the undisclosed seller and procured the undisclosed buyer in the deal. Terms of the transaction were not released.

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NEW YORK CITY — Greystone’s New York City-based skilled nursing financing team led by Scott Thurman has provided over $32 million in bridge and HUD-insured loans for skilled nursing facilities throughout the country. In the first deal, Greystone provided a $14 million bridge loan for the acquisition of a 155-bed skilled nursing facility in Chicago. Greystone intends to pursue long-term, permanent financing for the asset with a HUD-insured loan. Christopher Clare of Greystone originated the transaction. Thurman originated two separate loans to support the acquisition and stabilization of a 24-bed …

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