DENTON, Texas — Helios Healthcare Advisors has brokered the sale of Fairhaven Denton Assisted Living in Denton, roughly 40 miles northeast of Fort Worth. Situated on 33 acres, the property was originally developed by the Denton Business & Professional Women’s Club in the mid-1950s. After operating for more than 40 years, the community closed in 2007. In 2019, Austin, Texas-based developer Investcor acquired Fairhaven and engaged in an $8 million renovation of the property, which is now featured on the National Register of Historic Places. Fairhaven reopened in fall 2020. The …
DEVON, Pa. — Juniper Communities has acquired The Devon Senior Living in Devon, a suburb located roughly 20 miles northwest of downtown Philadelphia. Totaling 90,865 square feet, the property features 65 assisted living apartments — called “personal care” apartments in the state of Pennsylvania — and 13 memory care units. Originally developed in 1892 as the Eliza Cathcart Home and expanded in 1896, the property was fully renovated this year. Juniper plans to implement additional design and program enhancements at the community, which has been renamed Juniper Village at Devon.
FORT COLLINS and WINDSOR, Colo. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a skilled nursing and assisted living portfolio in Colorado. Located in Fort Collins and Windsor, the portfolio totals 445 beds and 269,105 square feet across the buildings. A Chicago-based REIT acquired the portfolio from the local seller. A Utah-based operator will manage the properties on behalf of the new ownership. Vince Viverito, Jason Punzel, Ryan Saul and Jeff Binder of SLIB brokered the transaction on behalf of the seller.
NAPERVILLE, Ill. — Katie Pitts has joined owner and operator Charter Senior Living as vice president of marketing. Pitts brings almost 20 years of experience in the senior living and health care industries. She has previously led marketing and brand strategy for CCRCs in the Midwest and acted as an advisor to multiple senior living organizations. “Katie’s leadership comes at a pivotal time as we continue to strengthen our marketing capabilities and data-informed strategies,” said Jayne Sallerson, president and COO of Charter Senior Living, in a statement. “Her proven expertise in …
OAK BROOK, Ill. — Inland Real Estate Investment Corp. has raised more than $149 million in capital for its private investment offering, National Senior Living Portfolio DST, a Delaware statutory trust sponsored by Inland. Now fully subscribed, the fund has been closed. The trust currently indirectly owns three senior living communities. Located in Arizona, Missouri and Tennessee, the communities total 635 units. Each of the communities offers independent living, assisted living and memory care. The properties include Clarendale of Chandler in Chandler, Arizona; Clarendale of St. Peters in St. Peters, Missouri; …
BALTIMORE — Capital Funding Group (CFG) has provided a $253.2 million bridge loan for the refinancing of a skilled nursing portfolio. The portfolio includes six facilities in Maryland and on in Virginia. Together, the properties total 1,050 beds. Craig Casagrande, Scott Robinson and Catherine Mansel of Baltimore-based CFG originated the financing for the undisclosed borrower.
FORT WORTH, Texas — Cooper Vittitow has been appointed chief executive officer of Civitas Senior Living. Vittitow will also retain the role of president of the company. He assumed the position Dec. 1, as Civitas co-founder Wayne Powell transitioned from CEO to chairman of the board. Powell founded Civitas, which owns and operates 32 seniors housing communities across several states, in 2012 with co-founder and managing partner Jay Dempsey. The company now serves roughly 5,000 residents. Vittitow brings more than 18 years of experience in the senior living sector to his …
ATLANTA and NEW YORK CITY — Town Lane and Kelly Sheehy will launch a new seniors housing platform targeting value-add and opportunistic senior living acquisitions across the country. Dubbed Arcole, the platform will be led by managing partner Sheehy and based in Atlanta. Arcole will operate in partnership with New York City-based Town Lane. Sheehy, who previously served as senior managing director and co-portfolio manager of Artemis Real Estate Partners’ healthcare fund platform, brings more than 20 years of seniors housing experience to the new venture. “Arcole, in partnership with Town …
WYOMING, Mich. — Berkadia has brokered the sale of Rivertown Ridge, a senior living property located in Wyoming, a suburb of Grand Rapids. Built in 2020, the community features 152 units and offers independent living, assisted living and memory care. CPF Living is the buyer, and its wholly owned management company, Grace Management, will operate the property on behalf of CPF. Redstone Homes, the seller, developed the property and assumed operation of the community in 2023. Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers of Berkadia arranged the sale on …
NOBLESVILLE, Ind. — Middle Street Partners has acquired Outlook Hamilton, an active adult community located in Noblesville, roughly 20 miles northeast of Indianapolis. Totaling 172 units, the property marks the second active adult acquisition for Middle Street this year. In July, Middle Street completed the purchase of Elate Royal Oaks, an active adult community located in Houston. “We’re excited about our recent acquisitions and the continued opportunities emerging in the Active Adult sector,” says Chris McGuffin, managing director of Middle Street. “Historically, the primary risk in this space was oversupply, but …