VINELAND, N.J. — Live Well Senior Living Inc. has secured $45.6 million in bonds to finance the development of a new senior living community in Vineland, roughly 40 miles south of Philadelphia. Ziegler arranged and underwrote the financing. Upon completion, Live Well Cottages at Vineland will total 130 units. Distinctive Living will manage and operate the community. “Live Well Cottages addresses one of the most pressing challenges in senior housing today — affordability without sacrificing quality or choice,” says Joe Jedlowski, founder and CEO of Distinctive Living. “The cottage and pocket-neighborhood …
FORT WORTH, Texas — Dominium has extended the affordability status of Cobblestone Mano, a 220-unit senior living community located in Fort Worth. Dominium also announced plans to undertake a $9.8 million renovation at the property. Dominium acquired the community, which was originally constructed in 2007 with financing from the 4 percent low-income housing tax credit (LIHTC) program, in 2011. Planned improvements at the property include upgrades to building exteriors and apartment interiors, as well as enhancements of the clubhouse, outdoor amenity spaces, landscaping and other shared spaces. In addition to the …
WASHINGTON, D.C. — The American Seniors Housing Association (ASHA) has elected its 2026-2027 Executive Committee. The committee includes Chair Richard Hutchinson, CEO of Discovery Senior Living; Vice Chair Stephanie Harris, CEO of Arrow Senior Living; Treasurer James Gray, president of Bridgewood Property Co.; Secretary Trever Sweeney, vice president of Ventas; Seniors Housing PAC Chair Taylor Hernandez, chief strategy officer of Senior Star; and President David Schless. Hutchinson previously served as vice chair. ASHA’s Executive Committee serves as the central decision-making and oversight body for the organization, shaping strategy and priorities. Officers …
GILBERT and MESA, Ariz. — PGIM has sold two senior living communities located in metro Phoenix. The properties include The Watermark at Morrison Ranch in Gilbert and Acoya Mesa in Mesa. PGIM owned Acoya Mesa in a joint venture with the community’s original developer, Ryan Cos. US Inc. JLL Capital Markets arranged the portfolio sale on behalf of PGIM and secured acquisition financing for the undisclosed buyer. JLL Real Estate Capital LLC, a Freddie Mac Optigo lender, will service the loan. The Watermark at Morrison Ranch totals 115 units and was …
FORT WORTH, Texas — Berkadia has secured $39.7 million in financing across two transactions to fund the acquisition of three skilled nursing facilities located in Texas. The borrower is a Fort Worth-based owner and operator that previously operated the facilities on a triple-net-lease basis. Totaling $31.4 million, the first transaction was a bridge loan for the acquisition of two of the facilities, which together comprise 246 beds. The properties include a facility in Lufkin, built in 2002, and a facility in Bellmead, constructed in 2010. The buyer has operated the facilities …
BRIGHTON, Mass. — 2Life Communities CEO Amy Schectman has announced plans to retire this October. Schectman, whose full title is Saul and Gitta Kurlat chief executive officer, has held the position for roughly 15 years. (The Saul & Gitta Kurlat Charitable Foundation is a long-standing supporter of 2Life Communities.) “I feel very proud of the work we’ve done at 2Life,” said Schectman in a statement. “Creating communities of loving kindness is sacred work, especially important in a society that often ignores or dismisses older adults and where elder economic insecurity is …
RENO, Nev. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Lakeside Manor in Reno. The independent living community totals 84 units within a 59,605-square-foot building. A New Mexico-based owner and operator was the seller. A Pennsylvania-based private equity group acquired the property for an undisclosed price. Vince Viverito and Dave Balow of SLIB brokered the transaction.
DALLAS — Harbert South Bay has announced plans to develop a new luxury senior living community, The Marianne on Inwood, in Dallas. Upon completion, the property will total 162 units and 294,000 square feet with independent living, assisted living and memory care residences. Amenities at the community will include multiple dining venues, indoor and outdoor pools, a gym, hair salon, media lounge and golf simulator. Momentum Senior Living will act as the operator. Bozzuto Construction is serving as the general contractor for the project, and Arcadis designed the community. Completion of …
ATLANTA — LTC Properties (NYSE: LTC) has acquired a seniors housing portfolio located in Atlanta for $108 million. The portfolio comprises roughly 400 independent living, assisted living and memory care units across three properties. Built between 2014 and 2018, the communities were 92 percent occupied at the time of acquisition. The Arbor Co. manages the communities and will be retained by LTC as the operator. This marks the first seniors housing operating portfolio (SHOP) acquisition for LTC this year. The REIT’s portfolio currently features approximately 190 properties throughout the U.S.
BONITA SPRINGS, Fla. — Discovery Senior Living has appointed a new vice president of sales. Jake Raptosh will now hold the position, reporting to Brennan Hughes, senior vice president of sales. Raptosh most recently served as vice president of sales and marketing at Elegance Living. He has also held roles with Holiday by Atria and Holiday Retirement. According to Discovery, Raptosh specializes in coaching teams, refining sales execution and partnering cross functionally with operations, marketing and technology teams. He has experience leading customer relationship management (CRM) and sales process enhancements, delivering …