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Galerie Living Receives Approval for 500-Unit Corso Druid Hills Development at Emory University in Atlanta

by Jeff Shaw

ATLANTA — Locally based Galerie Living has received approval from DeKalb County commissioners for its redevelopment of a portion of Emory University’s Briarcliff campus in Atlanta. Galerie Living will develop and operate a 500-unit seniors housing community that will be known as Corso Druid Hills. The community will feature independent living options such as cottages and apartments in one- and two-bedroom layouts, as well as assisted living and memory care units. Emory University entered into the lease agreement with Galerie earlier this year. More details on the project are scheduled …

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Affordable HousingDevelopmentFloridaNews

CREI Holdings Plans 316-Unit Affordable Housing Expansion in Sweetwater, Florida

by Jeff Shaw

SWEETWATER, Fla. — CREI has received approval from the Sweetwater City Commission to construct Li’l Abner III, an affordable seniors housing expansion in Sweetwater, a suburb west of Miami. The project will rise next to its sister buildings, Li’l Abner I and II, and add 316 units to the complex. “CREI Holdings is committed to providing affordable and workforce housing for seniors who are being squeezed out of the Miami-Dade market by skyrocketing rents,” says Raul Rodriguez, managing member of CREI Holdings. “We decided to build Li’l Abner III after …

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NewsOperationsPeople

LCS Promotes GeLynna Shaw to Executive Vice President of Operations

by Jeff Shaw

DES MOINES, Iowa — LCS, the nation’s third-largest senior living operator, has promoted GeLynna Shaw to the role of executive vice president of operations/senior living management. Effective Jan. 1, she will be responsible for supporting Chris Bird, president and chief operating officer, in leading the company’s operating activities. Shaw’s 25-year senior living career includes experience in finance, mergers, acquisitions and operations for both continuing care retirement communities (CCRCs) and rental communities. She joined LCS in 2018 as the senior vice president of operations for the rental division and has been …

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AcquisitionsAffordable HousingNewsVirginia

Cushman & Wakefield Brokers $25.7M Sale of Guardian Place Affordable Community in Richmond

by Jeff Shaw

RICHMOND, Va. — Cushman & Wakefield has brokered the sale of Guardian Place, a 236-unit affordable seniors housing portfolio spanning two buildings located at 1620 N. Hamilton St. in Richmond. Fairfield Residential purchased the properties, known as Guardian Place I (121 units) and Guardian Place II (115 units), for $25.7 million. Jorge Rosa and T.J. Liberto of Cushman & Wakefield represented the seller, United Methodists Family Services, in the transaction.

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Affordable HousingDevelopmentNewsTexas

Palladium Completes 122-Unit Affordable Seniors Housing Project in Garland, Texas

by Jeff Shaw

GARLAND, Texas — Locally based developer Palladium USA has completed a 122-unit mixed-income seniors housing project in Garland, a northeastern suburb of Dallas. Designed by HEDK Architects, the development consists of 92 units reserved for renters age 62 and above who earn 60 percent or less of the area median income. The remaining 30 units will be rented at market rates.

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AcquisitionsAlabamaCCRCNews

Blueprint Brokers Sale of 279-Unit CCRC in Mobile, Alabama

by Jeff Shaw

MOBILE, Ala. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Knollwood Healthcare & Gordon Oaks Senior Living, a continuing care retirement community (CCRC) in Mobile. Originally constructed in 1985 and expanded in 1987, 1993 and 1996, the property features 279 units of skilled nursing, independent living, assisted living and memory care. Blueprint represented the court-appointed receiver, Healthcare Management Partners, in the fall of 2021 to run a competitive marketing process to select a stalking horse bidder. That bidder, MED Healthcare, eventually became the buyer. The price was …

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AcquisitionsNewsPennsylvaniaSkilled Nursing

Lument Arranges Sale of Saunders House Skilled Nursing Facility in Wynnewood, Pennsylvania

by Jeff Shaw

WYNNEWOOD, Pa. — Lument Securities has served as exclusive financial advisor to the board of directors of Saunders House, a nonprofit skilled nursing facility, on its sale to a regional private operator. The property is located in the first-ring Philadelphia suburb of Wynnewood and features 180 beds. Laca Wong-Hammond and Dominic Porretta led the transaction for Lument Securities. Saunders House dates back to 1864 when it opened as the Old Man’s Home of Philadelphia. The current facility, which is located adjacent to Lankenau Medical Center, opened in 1973 and underwent …

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Affordable HousingNewsPeople

Standard Communities Appoints Feras Qumseya as Chief Development Officer

by Jeff Shaw

WASHINGTON, D.C. — Standard Communities, a developer of affordable housing for seniors and families, has named Feras Qumseya as chief development officer. This is a new position created to lead the new-construction division, a national platform focused on leveraging 4 percent Low Income Housing Tax Credit (LIHTC) financing to build new dedicated affordable housing units in major metropolitan areas. He will be based out of Washington, D.C. Qumseya brings 20 years of experience working on all aspects of affordable housing, economic development, public-private partnerships, large mixed-use projects and transit-oriented developments. …

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AcquisitionsGeorgiaNewsSkilled Nursing

Blueprint Negotiates Sale of 333-Bed Skilled Nursing Portfolio in Metro Atlanta

by Jeff Shaw

ATLANTA and MARIETTA, Ga. — Blueprint Healthcare Real Estate Advisors has arranged the sale of two skilled nursing facilities, one in the Buckhead neighborhood of Atlanta and another in the first-ring suburb of Marietta. The properties total 333 licensed beds, and are part of a larger portfolio sale with staggered closings. Both properties are near leading regional hospitals, among other referral sources. While labor challenges impacted the local market, the facilities maintained steadily improving census and revenue coming out of the pandemic, according to Blueprint. An East Coast-based investor and …

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