DALLAS — Forefront Living has completed The Hawthorne, an expansion project at Presbyterian Village North in Dallas. The project added 112 units of independent living at the community’s 66-acre campus. The new building is named after Douglas D. Hawthorne, founding CEO emeritus of Texas Health Resources. Hawthorne was a guiding force behind the expansion.
DILLSBURG, Pa. — Presbyterian Senior Living (PSL), a nonprofit provider of senior and retirement care services based in Dillsburg, has named Dan Davis to serve as president and chief executive officer. Davis will fill the position previously held by James Bernardo, who plans to retire at the end of the year. Davis has been with PSL for 21 years and has more than 30 years of aging services leadership experience. Prior to his appointment, Davis served as PSL’s senior vice president and chief operating officer. Davis was selected after a …
SEATTLE — Ryan Cos. US Inc. and Aegis Living have unveiled plans for a new seniors housing community in the Ballard neighborhood of Seattle. Construction began in March 2022 for a planned opening in early 2024. The 75 and older community is expected to grow nearly 25 percent in King County between now and 2027, according to the Environmental Systems Research Institute (ESRI). The five-level story assisted living and memory care community will total approximately 75,000 square feet and house 92 units. DAHLIN is serving as architect for the project, …
VALRICO, Fla. — Experience Senior Living (ESL) has unveiled plans for The Gallery at South Tampa, a seniors housing community in Valrico, an eastern suburb of Tampa. Located on a 17-acre plot, ESL plans to break ground on the development before the end of the year. The 240,613-square-foot community will feature 202 homes including 30 independent living cottages, 89 independent living apartment homes, 45 assisted living apartment homes and 38 memory care suites. The Gallery at South Tampa will be ESL’s seventh community in Florida and fourth on the Gulf …
BREVARD, N.C. — The Atlanta-based seniors housing and healthcare finance team of Grandbridge Real Estate Capital has provided a $34.7 million Fannie Mae loan for Chattanooga-based BrightSpace Senior Living. The funds were used to provide financing for College Walk Retirement Community, a 168-unit independent living and assisted living community in Brevard. Further details were not disclosed.
ATLANTA — Delays in the arrival of building materials — everything from windows and roof trusses to microchips for electrical panels — is one of the biggest hurdles slowing down new seniors housing developments, according to Kristin Kutac Ward, CEO of Solvere Living. Ward’s comments came during the ninth annual InterFace Seniors Housing conference. The event, which took place Aug. 17 at the Westin Buckhead in Atlanta, was hosted by France Media’s InterFace Conference Group and Seniors Housing Business and drew 324 attendees. Joining Ward on the development panel was …
COLORADO — Evans Senior Investments (ESI) has arranged the sale of seven skilled nursing facilities in Southwest Colorado for $51.5 million, or approximately $92,000 per bed. An owner-operator sold the 558-bed portfolio to an East Coast-based owner-operator looking to expand its reach in the West. The properties were built between 1957 and 2017. Prior to the COVID-19 pandemic, the portfolio was 77 percent occupied and produced nearly $6.2 million in annual net operating income. Throughout the pandemic, the portfolio’s occupancy decreased and at the time of marketing was only 65 …
WACO, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 106-unit assisted living and transitional car facility in Waco. Mainstreet developed the asset in 2015 and it was briefly operational before the property was foreclosed on and left vacant. Situated on 6.7 acres of land within the new, 150-acre mixed used development Legends Crossing, the facility is located adjacent to Baylor Scott & White Medical Center. The buyer was a Texas-based joint venture between Zelevie Health and Skywalker Property Partners. This is the joint venture’s first …
FORT LAUDERDALE, Fla. — Allegro Senior Living has unveiled plans for Allegro Fort Lauderdale, its 12th community in the state. The eight-story, 280,000-square-foot property will feature 188 units with views of the adjacent waterway and Atlantic Ocean. The community will offer independent living, assisted living and memory care services, though the number of units of each was not disclosed. Alliance Residential Co. is leading the development. Other partners include MSA Architects and FLYNN Engineering. Allegro Senior Living will assume management and oversight of the community upon completion. Allegro plans to …
CHICAGO — Senior Living Investment Brokerage (SLIB), a Chicago-based brokerage firm, has arranged the sale of five communities totaling 440 units across two separate transactions. In the first acquisition, SLIB arranged the sale of four communities in Kokomo, Ind.; Pueblo, Colo.; Stillwater, Okla.; and Cheyenne, Wyo. The assets total 351 units and the portfolio averages 87 percent occupancy. The seller was a long-standing provider of seniors housing with a portfolio of over 30 communities. The buyer was a regional private equity group focused on the seniors housing space that aligned …