ROCKWALL, Texas — Greystone has provided $12.8 million in bridge financing for the acquisition of Highland Meadows Health & Rehab, a 120-bed skilled nursing facility in Rockwall, located on Lake Ray Hubbard northeast of Dallas. DJ Elefant, vice president at Greystone, originated the financing on behalf of HACO Properties LLC. Helios Healthcare Advisors served as the debt broker in the transaction. The nonrecourse bridge financing from Greystone features a 24-month term with one 12-month extension option and interest-only payments for the full term. Greystone has already begun working with the …
FARMINGTON HILLS, Mich. — Spellman Brady & Co. (SBC) has completed the interior design for the newly constructed Anthology of Farmington, a 100-unit assisted living and memory care community in Farmington Hills, a suburb of Detroit. Anthology Senior Living, a CA Ventures – Senior Living Company owns and operated the property. Spellman Brady was responsible for the selection, procurement and installation of the project’s finishes, furniture, artwork and accessories. Spellman Brady collaborated with architect Roseman and Associates and general contractor Brinkmann Constructors.
HATTIESBURG, Miss. — Claiborne Senior Living, a Hattiesburg-based operator, has hired Shauna Shockley as its vice president of sales. Shockley is responsible for all aspects of the organization’s sales and occupancy strategies. Shockley has over two decades of experience with large regional operators throughout the United States such as Frontier Management, Prestige Care and Spectrum Retirement Communities.
DALLAS — Active adult residents say they had plenty of reasons to move out of their prior homes, but they rank location and lifestyle change atop their list. That was the message from a panel of five existing active adult residents during a panel named “Live Interview of Active Adult Residents: What Motivated Them to Move in?” at France Media’s InterFace Active Adult Conference, held at the Dallas Marriott Downtown hotel in Dallas. This second annual event is the industry’s only in-person conference devoted entirely to the active adult/55+ niche. …
WHITE MARSH, Md. — Monarch Communities has unveiled plans for Monarch White Marsh, a 188-unit independent living, assisted living and memory care community in the Baltimore suburb of White Marsh. Construction is scheduled to begin this month on the $80 million project. The property is incorporated into a 113-acre, master-planned, mixed-use development known as Villages of White Marsh. The community will be connected to a 20-acre park via a walking bridge providing access to 40 acres of open space and walking trails. The project is slated to open in late …
ST. CHARLES, Mo. — St. Charles-based Arrow Senior Living has named Steven Bunch, Lee Bohannon-Smith, Rhonda Nelson, Logan Harrington and Lisa Ford to its growing team of executive directors. Steven Bunch brings more than 30 years’ experience to his new role at The Madison Senior Living in Kansas City. In addition to his expertise in independent and assisted living, Bunch also worked in skilled nursing, residential care and memory care, serving in a number of leadership roles including vice president of operations at Capital Health Management Inc. He earned a …
BELLEVUE, Wash. — Northmarq has arranged a $33 million refinancing for The Gardens at Town Square, a seniors housing community located in downtown Bellevue. The 168-unit community is in a five-story, mid-rise building built in 1998 and includes a mix of independent living, assisted living and memory care. The borrower is ERA Living. The loan was structured with a 10-year term, fixed rate and 30-year amortization, with one year of interest-only payments. Loan proceeds retired $20.4 million in existing agency debt and returned equity to the borrower. Stuart Oswald, senior …
NEWBURGH, N.Y. — Castle Lanterra Active Adult, a division of Castle Lanterra, has acquired Reserve at Lakeside, a newly constructed active adult apartment complex in Newburgh. Blue Foundry Bank provided acquisition financing. The seller, price and number of units were not disclosed. This is Castle Lanterra Active Adult’s second acquisition in the age-restricted apartment sector, following its acquisition of Diamond Oaks Village in the Paradise Coast between Naples and Fort Myers, Florida. “We are extremely bullish about this sector and will continue to look to add to our portfolio,” says …
ANAHEIM, ESCONDIDO and LIVERMORE, Calif. — Standard Communities, through a public-private partnership, has acquired three mixed-income seniors housing communities totaling 559 rental units in California. The total value of the three-property portfolio is over $195 million, including more than $19 million in renovations. The properties include: Heritage Village Anaheim, totaling 196 units on 5.1 acres in Anaheim Heritage Park Escondido, totaling 196 units on five acres in Escondido Heritage Park Livermore, totaling 167 units on 8.2 in Livermore “We’re preserving and expanding affordable housing in some of the areas that …
PHOENIX — Link Senior Development and The Roxborough Group LLC have acquired Park Terrace Senior Living, a 301-unit independent living and assisted living community in Phoenix. The 15.3-acre campus features 12 residential buildings offering one- and two-bedroom units. Link and Roxborough intend to invest more than $3 million to convert the remaining assisted living units to independent living units. The partnership will also focus on making the community more sustainable by increasing water and energy efficiencies. “The substantial demand and need in the North Phoenix market for competitively priced independent …