IRVINE, Calif. — NewPoint Real Estate Capital LLC has hired Sean Huntsman as senior managing director of seniors housing originations and Katherine Stewart as managing director and lead for NewPoint’s seniors housing agency platform. The team will target expansion into the Fannie Mae and Freddie Mac seniors housing space in addition to originating proprietary bridge loan solutions for independent living and assisted living properties. Huntsman and Stewart will be based in NewPoint’s new Irvine office. With a career origination volume totaling more than $5 billion, Huntsman brings more than 30 …
HAZELWOOD, Mo. — A partnership including Roanoke Construction Inc., The Oakland Group LLC, The Unicorn Group LLC and BTWF Urban Initiative has broken ground on Elm Ridge Senior Living, a mixed-income senior living community in Hazelwood, a suburb of St. Louis. Construction is financed in part by resources from Missouri Housing Development Commission and private investors and lenders including St. Louis Equity Fund, Sugar Creek Capital and Legacy Bank and Trust. Once complete, the elevator-served building will feature 50 one- and two-bedroom apartments for seniors 55 years of age and …
WESTLAKE VILLAGE, Calif. — LTC Properties Inc. (NYSE: LTC), a Westlake Village-based REIT that primarily invests in seniors housing and health care properties, has made a $36 million investment for the refinancing of debt on four assisted living communities and a land parcel. The four assisted living communities located in North Carolina have a combined total of 217 units and are operated by an existing LTC partner. The communities are newly constructed with an average age of under four years. The land parcel includes approximately 7.6 acres adjacent to one …
ROCKWALL, Texas — Ridgeline Management Co. has moved its home office from West Linn, Oregon, to Rockwall, Texas. Ridgeline expects this move to allow them to better serve their expanding portfolio, especially in Texas. “Transitioning our home office is just one part of Ridgeline’s recent steps to reorganize our resources in an effort to become more competitive and more nimble in the market,” says Tod Murray, chief operating officer.
GROVE CITY, Ohio — Treplus Communities has started construction of Dogwood Commons, a 105-unit active adult community in the Columbus suburb of Grove City. A groundbreaking ceremony was held Thursday, May 19, at the 21-acre site.
IRVINE, Calif. — American Healthcare REIT Inc., a self-managed, publicly registered REIT based in Irvine, has appointed Stephanie Keator as senior vice president of asset management medical office and James Kim as senior vice president of tax. In her new role, Keator oversees all medical office buildings within the eastern region of American Healthcare REIT’s portfolio. She joins the company from Ventas (NYSE: VTR), where she served as director of asset management for the west region. Keator previously served in a similar capacity with Nationwide Health Properties Inc. prior to …
EVANSTON, Ill. — Evergreen Real Estate Group and the Council for Jewish Elderly (doing business as CJE SeniorLife) have opened Ann Rainey Apartments, a 60-unit affordable seniors housing community in Evanston, a northern suburb of Chicago. The $25 million project is next to the existing CJE SeniorLife Adult Day Services center, which provides programming and socialization opportunities for seniors who require supervision during the day. The new residential community is named for Ann Rainey, who served as alderman of Evanston’s 8th Ward for more than three decades and is credited …
IRVINE, Calif. — Sabra Health Care REIT (NASDAQ: SBRA) and Sienna Senior Living (TSX: SIA) have completed their joint-venture acquisition of 11 seniors housing communities in Canada. The properties are located in the provinces of Ontario and Saskatchewan. The buyers paid CA$307.5 million (US$236.5 million). Sabra and Sienna acquired the portfolio through a newly formed 50/50 joint venture, with Sienna also acting as the operator. The predominantly independent living portfolio consists of mostly newer construction with an average age of six years, which positions it to capture demand growth across …
CARTERSVILLE and CALHOUN, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two assisted living and memory care communities in Cartersville and Calhoun, located between Atlanta and Chattanooga, Tenn. The communities, both branded as The Fountains, total 127 units. The seller is a private owner-operator exiting the business. The buyer is a partnership between a private REIT and a regional operator. The price was not disclosed. Bradley Clousing and Daniel Geraghty of SLIB handled the transaction.
SPRINGFIELD, Ill. — Cambridge Realty Capital Cos. has provided a $7.4 million HUD-insured loan for the Springfield Supportive Living Center, a 127-bed assisted living facility in Springfield, Illinois. Cambridge Realty Capital Ltd. of Illinois, Cambridge’s specialists in FHA-insured HUD loans, underwrote the loan. Further details were not disclosed.