DES MOINES, Iowa — The LCS Foundation, a nonprofit charitable organization supporting the senior living industry, has named Elisa Baptiste as its new board president. Baptiste succeeds the LCS Foundation’s founder and former LCS CEO, Ed Kenny, who has served as board president since 2017. Kenny will continue to serve as a member of the board. Baptiste has served on the LCS Foundation board since 2017 and has served as the chair of the Emergency Relief Fund Committee. She is currently the senior vice president and chief operating officer for …
VENICE, Fla. — Convivial Life Inc. has acquired Jacaranda Trace, a seniors housing community featuring 240 independent living and 55 assisted living/memory care units in Venice. The seller was Venice Florida Senior Holdings LLC. The price was not disclosed. As part of the acquisition, Convivial also purchased an 85,000-square-foot clubhouse featuring a fitness center; heated outdoor pool and hot tub; on-site doctor’s clinic; multiple dining venues; billiards and activity rooms; woodworking shop; and library. Convivial is already working on expansion plans at the 33-acre community. LifeStar Living arranged the transaction …
KING OF PRUSSIA, Penn. — An affiliate of Livingston Street Capital, a boutique private equity firm, has acquired Canvas at Valley Forge, a 231-unit, Class A active adult community in King of Prussia, a suburb of Philadelphia. The luxury asset brings the firm’s multifamily portfolio, which currently comprises primarily active adult communities, to more than 1,800 units located throughout seven states. “This investment opportunity is well aligned with the core of our active adult strategy,” explains Peter Scola, founder, president and co-CEO of Livingston Street Capital, who notes that according …
HAMMOND, La. — Phoenix Senior Living (PSL) has completed an independent living at The Phoenix at Hammond in the New Orleans suburb of Hammond. PSL opened the community in 2021 with assisted living and memory care services available. PSL realized the town is underserved in the independent senior living space, so added 24 independent living apartments, which are now open. First Guaranty Bank is the lending partner for this project.
RENTON and OCEAN SHORES, Wash. — Blueprint Healthcare Real Estate Advisors has arrange the sale of two seniors housing communities in the Seattle suburb of Renton and Ocean Shores, located along the Pacific Coast approximately 140 miles west. The Renton community features 80 assisted living units and was built in 1983. The property has exceeded 95 percent occupancy for the past three years. The Ocean Shores community comprises 50 assisted living units built in 1998, and maintained occupancy in excess of 96 percent over the last three years. A Washington-based …
HAMILTON, N.J. — Inspired Healthcare Capital (IHC) has acquired Homestead at Hamilton, a 195-unit independent living, assisted living and memory care community located in the Trenton suburb of Hamilton. Further details were not disclosed. IHC is an Arizona-based private real estate investment firm that focuses on the seniors housing sector. This was IHC’s fourth acquisition in 2022, after closing on nine seniors housing transactions in 2021.
TEMECULA, Calif. — Capital Funding Group (CFG) has provided a $32.9 million construction loan for the ground-up development of Varenita of Temecula. The 108-bed assisted living and memory care facility is located in Temecula, within Riverside County between Los Angeles and San Diego. The borrower and developer is Griffin Living. Brightwater Senior Living will operate the facility upon completion. The financing features a Commercial Property-Assessed Clean Energy (CPACE) structure, which allows building owners to borrow money for energy efficiency, renewable energy, or other projects and make repayments via an assessment …
SEATTLE — Aegis Living has opened its 35th community, Aegis Living Greenwood, in the Greenwood neighborhood of Northwest Seattle. The 89,000-square-foot property features 96 units. The five-story building is inspired by the neighborhood and built with Tudor Revival architecture, a classic style most popular in the United States in the 1920s and ‘30s. Ankrom Moisan was the architecture firm and Venture was the general contractor. Aegis has several additional communities in development, including a community in the Eastlake neighborhood of Seattle opening next month.
WEST HARTFORD, Conn. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Hamilton Heights Senior Living, a 113-unit independent living and memory care community in West Hartford. Formerly known as Mount St. Joseph Academy, a Roman Catholic boarding school for girls, the property was adapted into an independent living, assisted living and memory care community in 1997. The original academy was built in 1905 by well-known Hartford architect John J. Dwyer, and is currently on the National Register of Historic Places. Hamilton Heights is situated on a large …
HOUSTON — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 300-unit independent living community in Houston. The community is approximately 206,000 square feet in total and is situated on approximately 7.6 acres of land. The seller is an owner-operator that wanted to sell a non-core asset to focus on its senior living and skilled nursing assets. The buyer is a California-based real estate owner. The price was not disclosed. The buyer hired a third-party manager that operates several independent living communities in Texas. The property shares services …