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DevelopmentNewsPennsylvania

Charter Senior Living, Paradise Management to Develop 162-Unit Community in Pennsylvania

by Hayden Spiess

WEST CHESTER, Pa. — Charter Senior Living and Paradise Management are partnering on the development of a new community in West Chester.  Upon completion, the community — Charter Senior Living of West Chester — will total 162 units, including 59 independent living, 71 assisted living and 32 memory care apartments. Construction is currently underway. Completion of the development is scheduled for late 2027, with leasing to begin in late 2026.  “We’re thrilled to partner with the outstanding team at Paradise to bring this exciting new senior living option to West Chester,” …

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Blue-Moon-Property
FinanceNews

StepStone, Blue Moon Complete $250M Refinancing of Seniors Housing Portfolio

by Hayden Spiess

NEW YORK CITY — StepStone Real Estate, the real estate arm of New York City-based investment firm StepStone Group (Nasdaq: STEP), and Blue Moon Capital Partners have completed a $250 million refinancing of a portfolio of seniors housing communities originally developed or redeveloped by Blue Moon.  The portfolio includes five stabilized properties.  The refinancing was completed through a continuation vehicle, a new investment structure that allowed investors in Blue Moon’s original fund to roll their investment into the new vehicle or exit and receive liquidity. StepStone is the majority equity partner …

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News

Industry CEOs Plan Effort to Solve Workforce Challenges, Utilize $3B in Funding

by Hayden Spiess

PHOENIX — Seniors housing CEOs are planning to collaborate on an effort to solve workforce challenges and tap into the more than $3 billion in workforce funding available through federal, state and local programs.  This initiative will launch at the 2026 American Seniors Housing Association (ASHA) annual meeting Jan. 27 in Phoenix. Industry leaders plan to convene to discuss the issue and identify shared priorities and strategies to attract, retain and develop talent within senior living.  Tom Grape, founder, chairman and CEO of Benchmark Senior Living, and Dan Madsen, chairman and …

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Reserve-Sarasota_Sarasota-Fla
DevelopmentFloridaNews

NexCore Group Breaks Ground on 248,582 SF Community in Sarasota 

by Hayden Spiess

SARASOTA, Fla. — NexCore Group, with general contractor Brinkmann Constructors, has broken ground on The Reserve Sarasota, a new senior living community. Located in downtown Sarasota, the property will total 248,582 square feet across seven stories.  Experience Senior Living, a wholly owned subsidiary of NexCore, will operate the community. Amenities at the property will include multiple dining venues, wellness spaces and a rooftop pool.  The project team includes Hoyt Architects, Infrastructure Solutions Services and Senior by Design. Completion of the development is scheduled for December 2027. 

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Atria-Park_San-Mateo-Calif
AcquisitionsAssisted LivingCaliforniaMemory CareNews

Berkadia Brokers Sale of 135-Unit Community on San Francisco Bay

by Hayden Spiess

SAN MATEO, Calif. — Berkadia has brokered the sale of Atria Park of San Mateo, a 135-unit assisted living and memory care community located in San Mateo on the western shores of San Francisco Bay.  A partnership between Shelter Real Estate Investment Properties and Calson Management acquired the property for an undisclosed price. The community will be rebranded as Harbor at Hillsdale.  Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders of Berkadia arranged the transaction on behalf of the undisclosed seller. 

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FinanceNewsWashington

Lument Provides $21.5M Refinancing for Community in Metro Seattle

by Hayden Spiess

FEDERAL WAY, Wash. — Lument has provided a $21.5 million loan for the refinancing of a seniors housing community located in Federal Way, roughly 25 miles south of Seattle.  Village Green of Federal Way totals 170 units, with 136 assisted living units and 34 independent living cottages.  Casey Moore of Lument arranged the Department of Housing and Urban Development (HUD)/Federal Housing Administration (FHA) Section 232/223(f) loan on behalf of the borrower, a family-owned company. The loan features a fixed interest rate and 35-year term. “Lument was able to help us navigate …

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The-Chelsea_New-City-N.Y
FinanceNew JerseyNew YorkNews

Bain, Capitol Seniors Housing Receive $48M Refinancing for Two Northeast Communities 

by Hayden Spiess

NEW CITY, N.Y. and TOWNSHIP OF WASHINGTON, N.J. — Bain Capital Real Estate and Capitol Seniors Housing have received a $48 million loan for the refinancing of two seniors housing communities. The communities include The Chelsea at New City in New City, New York, and The Chelsea at Washington Township in the Township of Washington, New Jersey.  JLL Capital Markets secured the three-year, floating-rate loan through a large regional bank on behalf of Bain and Capitol Seniors Housing.  Built in 2021, The Chelsea at New City totals 80 assisted living, memory …

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Company NewsNewsPeopleTennessee

Vitality Living Appoints Chief Investment Officer, Chief Real Estate Officer

by Hayden Spiess

BRENTWOOD, Tenn. — Senior living owner and operator Vitality Living has announced the appointment of a chief investment officer and a chief real estate officer.  John Rimbach has been named chief investment officer, and Charles Hall will assume the position of chief real estate officer at the Brentwood, Tennessee-based company.   Rimbach brings more than 30 years of experience in seniors housing to his new role, in which he will lead investment strategy, acquisitions, joint ventures and capital relationships. “I’m excited to help advance Vitality’s capital strategy, cultivate long-term investment partnerships and …

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Residences at Appleton
Affordable HousingDevelopmentMassachusettsNews

WinnCos. Completes $55.3M Adaptive Reuse Project in Massachusetts

by Hayden Spiess

HOLYOKE, Mass. — WinnCos. has completed a $55.3 million seniors housing adaptive reuse project in Holyoke. A redevelopment of a vacant mill complex, Residences at Appleton has delivered 88 affordable housing units for residents age 55 and older.  Twelve of the apartments are reserved for seniors earning at or below 30 percent of the area median income (AMI); 63 apartments are reserved for seniors earning at or below 60 percent of the AMI; and 13 apartments are reserved for seniors earning at or below 80 percent of the AMI.  Residences at …

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Briarwood-Manor_Lockport-N.Y
AcquisitionsAssisted LivingMemory CareNew YorkNews

SLIB Arranges Sale of 113-Unit Assisted Living, Memory Care Community in Western New York

by Hayden Spiess

LOCKPORT, N.Y. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Briarwood Manor, a 113-unit, 160-bed assisted living and memory care community located in Lockport, roughly 30 miles northeast of Buffalo.  Originally opened in 1982, the property was 44 percent occupied at the time of marketing. The memory care wing was added in 2017.  A private owner exiting the seniors housing market was the seller. A private real estate investor acquired the community for an undisclosed price. Dave Balow, Dan Geraghty and Ryan Saul of SLIB brokered the transaction …

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