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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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ArizonaFinanceNewsSkilled Nursing

CFG Funds $10.3M HUD Refinancing for Skilled Nursing Facility in Arizona

by Jeff Shaw

ARIZONA — Capital Funding Group (CFG) has provided $10.3 million in financing for a 112-bed skilled nursing facility in Arizona. The transaction replaces an existing bridge loan, which CFG also provided, into HUD financing. The name of the borrower and more specific details on the property were not disclosed. Tommy Dillon originated the transaction for the CFG.

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DevelopmentNewsPennsylvania

LCB Completes Residence at Bala Cynwyd Adaptive Reuse Project in Pennsylvania

by Jeff Shaw

BALA CYNWYD, Penn. — LCB Senior Living has opened The Residence at Bala Cynwyd, a seniors housing community built on the former site of Lee’s Shoddy Mill in Bala Cynwyd, a suburb of Philadelphia. Built in the 1850s as Benjamin Schofield’s West Manayunk Woolen Mills, the site eventually became known as Lee’s Shoddy Mill, named after the heavy fabric created from recycled wool and cotton. Just steps away from the Cynwyd Heritage Trail, this new community is reflective of Bala Cynwyd’s history and pays homage to that history through its …

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AcquisitionsAssisted LivingGeorgiaNewsTennessee

SLIB Negotiates Sale of 228-Unit Portfolio in Tennessee, Georgia

by Jeff Shaw

MADISON, Tenn., and MARIETTA and JONESBORO, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of three assisted living and memory care communities in the Southeast. Located in Madison, Marietta and Jonesboro, the portfolio totals 228 units built in 1999 and 2000. The properties are 46,483, 52,642, and 52,157 square feet, and are situated on approximately 3.69, 9.66, and 6.04 acres of land. The seller was a western US owner-operator divesting to focus on its core Western markets as these were outliers in their portfolio. The buyer is …

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Affordable HousingFinanceGeorgiaNews

BWE Provides $4.5M Freddie Mac Financing for Legacy at Walton Trail in Villa Rica, Georgia

by Jeff Shaw

VILLA RICA, Ga. — BWE has provided $4.5 million in long-term financing for Legacy at Walton Trail, a newly constructed affordable seniors housing development in Villa Rica, approximately 30 miles west of Atlanta. Victor Agusta, Jr. originated the Freddie Mac Targeted Affordable Housing loan on behalf of Walton Communities. Built on the site of obsolete public housing, Legacy at Walton Trail comprises 90 one- and two-bedroom apartments. The homes will be available to adults age 55 or older who earn between 30 percent and 80 percent of the area median …

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FinanceNewsPeople

JLL Hires Jay Wagner, Richard Swartz, Aaron Rosenzweig to Lead National Seniors Housing Capital Markets Team

by Jeff Shaw

BOSTON and SAN DIEGO — JLL Capital Markets has hired three seniors housing experts within its national seniors housing platform. Jay Wagner and Richard Swartz, who will co-lead the team, and Aaron Rosenzweig will focus on investment sales, joint venture equity and financing transactions throughout the United States. All three were hired as senior managing directors. Wagner, Swartz and Rosenzweig join JLL from a full-service capital markets provider where Wagner and Swartz were co-heads and vice chairmen of the firm’s seniors housing group. Rosenzweig served as an executive director within …

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