BOYNTON BEACH, Fla. — Nonprofit developer Green Cay Life Plan Village Inc. has unveiled plans for a $250 million continuing care retirement community (CCRC) in Boynton Beach along the Atlantic Coast in South Florida. Green Cay has purchased the 15-acre site with plans for 170 independent living, 16 assisted living and 16 memory care units in a 340,000-square-foot building. The property is adjacent to Green Cay Nature Center. Independent living residences will range from one to three bedrooms; assisted living apartments will include studio to two-bedroom options; and memory care …
LONE TREE, Colo. — OZ Architecture has completed the design of The Reserve at Lone Tree, located within the RidgeGate master-planned community in Lone Tree. Experience Senior Living Development (ESLD), a NexCore company, is a partner on the project. The community will offer 124 independent living units in a nine-story building alongside 60 assisted living and 24 memory care units in an attached five-story building. The project is scheduled break ground in fourth-quarter 2022, with anticipated completion in 2024. Independent living units will be up to 1,930 square fee, while …
FORT MYERS, Fla. — SRS Real Estate Partners has brokered the sale of a 75-bed skilled nursing facility located at 13960 Plantation Road in Fort Myers. An entity doing business as Plantation Medical Center SNU LLC sold the property to a private 1031 investment firm based in New York City for $46.7 million. Patrick Nutt and William Wamble of SRS’ National Net Lease Group represented the seller in the off-market transaction, and Jason Maier of Stan Johnson Co. represented the buyer. Built in 2018, the 57,650-square-foot property is situated adjacent …
MICHIGAN — Capital Real Estate Group (CREG), through its U.S. Healthcare Investment Sales practice, has arranged the sale of a two-property seniors housing portfolio in Central Michigan. The properties total 139 units across 126,000 square feet. The two communities are located adjacent to one another and are spread over 13.5 acres. The portfolio’s unt mix comprises 88 assisted living units, 33 independent living units and 18 memory care units. The portfolio is over 80 percent leased and has maintained that occupancy on average for the past two years. A publicly …
MADISON, Ala. — Senior Living Investment Brokerage (SLIB) has arranged the sale of an assisted living and memory care community in Madison, a suburb of Huntsville. A local ownership group of physicians that originally developed the asset was the seller. The building was not fully stabilized with respect to rental rates or expenses, but was near full occupancy at the close of escrow according to SLIB. The buyer, an Alabama-based owner-operator, plans to stabilize the asset and hold it over the long term. Brad Clousing and Daniel Geraghty led the …
Bill Sheriff, former CEO of Brookdale Senior Living and a longtime industry executive who was inducted into the Senior Living Hall of Fame in the inaugural class of 2018, died Saturday, Aug. 27. David Schless, president of the American Seniors Housing Association (ASHA), paid tribute to Sheriff in an e-mail sent to the association’s members that same day. “Though he was a man of few words, Bill personified leadership and service at the very highest level, mentoring a new generation of industry leaders and leaving a tremendous legacy.” Following a …
WASHINGTON, D.C. — The American Seniors Housing Association (ASHA), in partnership with Seniors Housing Business, has released the 2022 edition of the ASHA 50, which ranks the 50 largest owners and operators in the U.S. seniors housing space. Based in Washington, D.C., ASHA is a trade association that advocates for and represents companies that develop, own, operate and finance seniors housing. The ASHA 50 rankings are based on self-reported portfolio sizes, ranked by total number of units, as of June 1, 2022. Data was also used from other reliable sources, …
ALPHARETTA, Ga. — Northland, a private equity investor based in Newton, Mass., has purchased Emblem Alpharetta, a 210-unit active adult community in the north Atlanta suburb of Alpharetta. Situated on seven acres, the property was fully occupied at the time of sale and represents the fourth Georgia acquisition for Northland this year, but the first active adult acquisition in its portfolio. The seller and price were not disclosed. Emblem Alpharetta comprises one- and two-bedroom apartments in a four-story building that centers around a resort-style pool and sundeck. Units are reserved …
COLVILLE, Wash. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of Pinewood Terrace, a 92-unit skilled nursing facility located in Colville, a tiny city of fewer than 5,000 residents in the northeastern corner of Washington State. Cascadia Healthcare acquired the property for an undisclosed price. The seller was looking to exit Washington for states with more favorable reimbursement rates and lower regulatory hurdles. Cascadia, meanwhile, is growing its regional team in the Washington and northern Idaho markets to help with quality of care and synergy between local buildings.
DENVER — iN2L + LifeLoop, a Denver-based senior living engagement, wellness and community operations platform, has named Navin Gupta as chief executive officer. Gupta will focus on furthering the combined organization’s mission to impact the aging experience in North America by accelerating its strategic growth. Lisa Taylor, iN2L’s CEO for the past four years, will remain involved as a strategic advisor. With more than two decades in healthcare, security and telecommunications, Gupta recently worked for the home health and hospice division at MatrixCare. He also spent decades leading product development …