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Experience Senior Living Hires Angelica Ybarra as Vice President of People

by Jeff Shaw

DENVER — Experience Senior Living (ESL), a Denver-based operator, has hired Angelica Ybarra as vice president of people. Ybarra comes with 30 years of human resource management and leadership experience. In a senior role, Ybarra will work closely with the executive team in addition to leading both the culture and recruiting teams in supporting each ESL community to attract, retain, reward and recognize every team member. Angelica has a bachelor’s degree in psychology from The University of Santa Barbara and a master’s degree in industrial/organizational psychology with a specialty in …

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Affordable HousingDevelopmentNewsVirginia

Partnership Plans Redevelopment of The Ladrey Affordable High Rise in Alexandria, Virginia

by Jeff Shaw

ALEXANDRIA, Va. — The Alexandria Redevelopment and Housing Authority (ARHA) has partnered with WinnCompanies and IBF Development to redevelop The Ladrey, an 11-story affordable seniors housing community in Alexandria. The proposed development plan will replace all the current Ladrey units and increase the number of apartments available to working households. The Ladrey sits on an approximately two-acre site in the Old Town North Small Area. The community features 170 units and primarily serves seniors and residents with disabilities. ARHA is combining and adjacent plot, which it also owns, with The …

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AcquisitionsAssisted LivingFloridaNews

Blueprint Brokers Sale of Vista Lake Assisted Living in Leesburg, Florida

by Jeff Shaw

LEESBURG, Fla. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Vista Lake Assisted Living in the Central Florida city of Leesburg. Originally constructed in two phases in 1996 and 2000, Vista Lake consists of 74 units of assisted living and memory care. The sale was part of nonprofit owner Eagle Senior Living’s Chapter 11 bankruptcy process. Eagle bought the property in late 2018, and its performance suffered greatly during COVID. Atlantis Senior Living entered the stalking-horse bid for the property, which ended up winning the auction. The …

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Affordable HousingDevelopmentNewsVirginia

Enterprise Community Development, Fellowship Square County Open 240-Unit Lake Anne House in Reston, Virginia

by Jeff Shaw

RESTON, Va. — Enterprise Community Development and Fellowship Square will cut the ribbon Sept. 29 on Lake Anne House, an affordable seniors housing community in the Washington, D.C. suburb of Reston. The community features 240 units for low-income seniors. The project was a redevelopment of a 1970s-era property. The developers constructed the new building on an underutilized portion of the site, adjacent to the original Lake Anne Fellowship House. The new Lake Anne House includes 56 studios, 178 one-bedroom and six two-bedroom apartments. The old building is scheduled for demolition …

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FinanceNewsPeople

AlerisLife Appoints Heather Pereira as Chief Financial Officer

by Jeff Shaw

NEWTON, Mass. — AlerisLife Inc. (NASDAQ: ALR), a Newton-based operator, has appointed Heather Pereira as senior vice president, chief financial officer and treasurer. Pereira most recently served as vice president and corporate controller of Acushnet Holdings Corp. since May of 2017. Previously, starting in 2004, she held several roles within the accounting and finance departments of Acushnet Holdings. Pereira has over 20 years of accounting and finance experience and holds a master’s degree in accountancy, an MBA from Northeastern University and a bachelor’s degree from Boston College. Pereira succeeds Jeff …

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DevelopmentFinanceNewsTexas

JLL Arranges $61M Construction Loan for The Preserve at Spring Creek in Garland, Texas

by Jeff Shaw

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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Affordable HousingCaliforniaDevelopmentFinanceKeyBankNews

KeyBank Provides $49.3M Construction Loan for Affordable Seniors Housing Property in San Ysidro, California

by Jeff Shaw

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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AcquisitionsConnecticutMemory CareNews

Hamister Group Acquires 46-Unit Brookdale Buckingham Memory Care Community in Glastonbury, Connecticut

by Jeff Shaw

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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NewsOperationsPeople

Ridgeline Management Hires Chris Dover as Chief Financial Officer

by Jeff Shaw

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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AcquisitionsAffordable HousingCaliforniaNews

TMG Brokers $41.2M Sale of Two-Property Monte Vista Gardens Affordable Seniors Housing Portfolio in San Jose

by Jeff Shaw

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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