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Emerald Communities Hires Alexander Candalla as Vice President of Operations

by Jeff Shaw

REDMOND, Wash. — Emerald Communities, a nonprofit senior housing and services organization based in Redmond, has appointed Alexander Candalla as vice president of operations. Candalla joins Emerald Communities with nearly three decades of experience in senior living. In his role as vice president of operations, he will be responsible for the oversight of operations for the life plan senior living communities of Emerald Heights and Heron’s Key. Candalla will also work with executive directors of each property to implement new programs and policies, develop short-term and long-term strategic goals, and …

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Assisted LivingDevelopmentNewsVirginia

Benchmark Plans 10-story, 115-Unit Community in Alexandria, Virginia

by Jeff Shaw

ALEXANDRIA, Va. — Benchmark Senior Living has unveiled plans for Benchmark at Alexandria, a 10-story senior living community in Alexandria. The property will feature 89 assisted living units and 26 memory care units. The site is located within West Alex, a mixed-use destination offering over 100,000 square feet of retail space in addition to apartments, condominiums, office space, a daycare and a school. “This project is really exciting because not only is Benchmark expanding into a new market, but this community will be an integral part of a lively mixed-use …

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FinanceGeorgiaMarylandNewsSkilled NursingWest Virginia

CFG Arranges $135M Refinancing for Skilled Nursing Portfolio in Southeast

by Jeff Shaw

BALTIMORE — Capital Funding Group (CFG), a Baltimore-based lender, has arranged a $135 million bridge loan for the refinancing and dividend recapitalization of a skilled nursing portfolio. The portfolio features nine facilities and 1,448 beds across Maryland, Georgia and West Virginia. The borrower is an industry-leading owner of skilled nursing facilities. CFG’s Tim Eberhardt and Ava Julio originated the transaction for the company. Further details were not disclosed.

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Assisted LivingDevelopmentFloridaNews

Providence One, ANF Group Break Ground on 117-Unit Community in Pembroke Pines, Florida

by Jeff Shaw

PEMBROKE PINES, Fla. — ANF Group Inc. and Providence One Partners have broken ground on Providence Living at Pembroke Pines, an assisted living and memory care community in the Miami suburb of Pembroke Pines. The two-story, 114,003-square-foot property is located on 3.2 acres near Pembroke Pines City Center.and will feature 117 units, totaling 121 beds. ANF will handle construction, while Providence One will be the operator upon completion. The project is scheduled to open in fourth-quarter 2023.

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ArizonaDevelopmentNewsOperationsTexas

Integral Senior Living to Operate Two Communities in Texas, Arizona

by Jeff Shaw

PFLUGERVILLE, Texas, and QUEEN CREEK, Ariz. — Integral Senior Living has taken oer operations of Sage Valley Senior Living in Pflugerville and Mojave Sage Senior Living in Queen Creek. Both properties provide assisted living and memory care services. This addition comes shortly after ISL announced expanding its portfolio with four new communities in Utah and Nevada. Investcor owns the communities. Sage Valley is set to open its doors early 2023, with Mojave Sage opening in 2024.

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Company NewsNewsPeople

Omnicare Appoints Ahmed Hassan as President

by Jeff Shaw

CINCINNATTI — Omnicare, a CVS Health company based in Cincinnati that provides pharmacy services for seniors housing communities, has appointed Ahmed Hassan as its president. Previously, Hassan served as the vice president and general manager of PBM Care Management, overseeing operations, clinical excellence, product development, sales and account management for Caremark’s Care Management portfolio, including Accordant, Transform Diabetes Care and Health Advisor. Before joining CVS Health in 2015, Hassan held various leadership positions across a range of healthcare and technology organizations in strategy, operations and product management. This experience includes …

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AcquisitionsAssisted LivingCaliforniaNews

Northwestern Mutual Divests of Cortona Park Assisted Living Community in Brentwood, California for $39.2M

by Jeff Shaw

BRENTWOOD, Calif. — Northwestern Mutual has completed the sale of Cortona Park, an assisted living community in Brentwood, to a joint venture between Cogir and a national investment partner for $39.2 million. The buyer plans to rename the property Cogir of Brentwood. Built in 2007, the community features studio, one- and two-bedroom units averaging 761 square feet. Situated on 4.3 acres, the property is located at 150 Cortona Way. Charles Bissell, Cody Tremper and Dean Ferris of JLL Capital Markets’ investment sales and advisory team represented the seller in the …

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FinanceIndependent LivingNewsOregon

CBRE Arranges $33.1M Refinancing for MorningStar of Hillsboro in Oregon

by Jeff Shaw

HILLSBORO, Ore. — CBRE National Senior Housing has arranged $33.1 million in financing for MorningStar of Hillsboro. The borrower is a joint venture between Artemis Real Estate Partners, MorningStar Senior Living and American Capital Group. ​Situated on a 1.35-acre parcel, the community comprises 142 independent living units. The property recently opened its doors. The operator is MorningStar. The property is less than a mile north of Kaiser Permanente Westside Medical Center, a 126-bed hospital that serves the greater Hillsboro and Beaverton suburbs. Additionally, half a mile north of the community …

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Affordable HousingDevelopmentIllinoisNews

Evergreen Breaks Ground on $30M Bellwood Senior Apartments Near Chicago

by Jeff Shaw

BELLWOOD, Ill. — Evergreen Real Estate Group has broken ground on Bellwood Senior Apartments, an 80-unit affordable rental community in the western Chicago suburb of Bellwood. The $30 million project will replace a former Walgreens with a four-story, 73,228-square-foot residential building. Professionally operated by Evergreen’s in-house management team, Bellwood Senior Apartments will offer 76 one-bedroom and four two-bedroom independent living apartments for seniors age 62 or older, with incomes at or below 60 percent of the area median income. Evergreen will begin accepting applications for the apartments in spring 2023, …

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AcquisitionsAssisted LivingNewsSouth Carolina

Blueprint Negotiates Sale of 265-Unit Portside at Grande Dunes in Myrtle Beach, South Carolina

by Jeff Shaw

MYRTLE BEACH, S.C. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Portside at Grande Dunes in Myrtle Beach. Owned and developed by LIV Development, Portside at Grande Dunes is a 265-unit community. The development opened in two phases starting with 83 assisted living and 32 memory care units in January 2019, followed by a Phase II that included 134 units of independent living and 16 independent cottages in August 2020. Chicago Pacific Founders Living Communities acquired the asset for an undisclosed price, and will install Grace Management …

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