MELBOURNE, Fla. — Blake Management Group and Cardinal Ventures Inc. have hired Misty Zulli as executive director and Reetu Haave as sales director at The Blake of Viera, a senior living community in Melbourne,. Cardinal Ventures is building the 86,000-square-foot assisted living and memory care community with 97 units. Zulli has worked in senior living for 14 years in various positions, from floor nurse to spending the past three years as an executive director during the height of the pandemic. Reetu attended George Washington University for both undergraduate and graduate …
NEW YORK CITY — A partnership between multifamily owner-operator Asland Capital Partners and locally based investment firm Pembroke Residential Holdings has received $100 million in financing for the development of a 154-unit affordable housing project in the Soundview neighborhood of The Bronx. Apartments will be reserved for renters age 62 and above with income levels that represent various percentages of the area median income. In addition, 30 percent of the units will be set aside for seniors who were formerly homeless. Completion of the 14-story building is scheduled for fall …
FORT WORTH, Texas — SilverPoint Senior Living and Journey Capital have unveiled plans for the development of Edition Senior Living of Fort Worth. Initial plans call for 101 units of assisted living and memory care in a 100,000-square-foot community on nine acres. There are also long-term plans to expand and add independent living facilities. This community will be the fifth collaboration between SilverPoint and Journey Capital. Construction is scheduled to begin close to the end of this year.
WEST ST. PAUL, Minn. — Colliers Mortgage has provided a $25.2 million HUD 223(f) loan for the refinancing of The Winslow in West St. Paul. The 172-unit affordable seniors housing community rises four stories. Units are restricted to persons age 62 and above and who earn up to 60 percent of the area median income. WSP Senior Housing I LLLP was the borrower. The fixed-rate loan is fully amortized over 35 years. Colliers Mortgage previously provided a construction loan for the property in 2018.
EVERETT, Wash. — Greystone has arranged $15 million in financing for Washington Oakes, a 152-unit seniors housing property in Everett, a northern suburb of Seattle. Tyler Armstrong of Greystone originated the transaction on behalf of Lytle Enterprises LLC. Washington Oakes features studio, one-, two- and three-bedroom units and offers independent living and assisted living services. Leisure Care LLC is the operator. A life insurance company provided the nonrecourse, fixed-rate loan, which carries a seven-year term, 30-year amortization and 60 percent loan-to-value ratio. In addition to refinancing existing debt, loan proceeds …
SCOTTSDALE, Ariz. — Cadence Living has hired Michelle Cornelius as vice president of memory care engagement. Cornelius will have principal responsibility over the Revere Memory Care programming across the Cadence portfolio of communities. Prior to joining Cadence, Cornelius was most recently the chief operating officer at Cypress Homecare Solutions. During her time at Cypress, she implemented a dementia-specific homecare program that was rolled out across the country. She has also managed memory care units in both skilled nursing facilities and assisted living communities. Cornelius holds master’s degrees in both social …
CLEVELAND, Tenn. — Solinity has opened Remember Me Senior Care, an assisted living and memory care neighborhood in the East Tennessee city of Cleveland. The five-home, farmhouse-style neighborhood focuses on memory care services. Solinity leads the operations and also serves as the marketing agency with sister company, Solinity Marketing. The homes are situated in a subdivision-like design with walking paths, a gazebo and pavilion. Each home includes a private family gathering room, living room, private apartments, a residential-style kitchen, outdoor common spaces and large hallways. Project partners included DKLEVY Architectural …
WASHINGTON, D.C. — U.S. News & World Report has published the inaugural edition of Best Senior Living, which expands the U.S. News rankings, ratings and data offerings. The new designations include Best Independent Living, Best Assisted Living, Best Memory Care and Best Continuing Care Retirement Communities (CCRC). “Families have limited information when comparing providers of independent living, assisted living, memory care or continuing care,” says Ben Harder, managing editor and chief of health analysis at U.S. News. “The Best Senior Living ratings help to fill this informational gap with comprehensive …
ARIZONA — Capital Funding Group (CFG) has provided $17.2 million in Bridge-to-HUD financing for the acquisition of two skilled nursing facilities. The facilities, which are located in Arizona, support 232 beds. The buyer is the operator of the two communities, and is now purchasing the real estate. Tommy Dillon originated the transaction. Further details on the seller and communities were not disclosed.
SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NASDAQ: CTRE), a San Clemente-based REIT focused on senior living properties, has announced the pending transfer of its common stock from the Nasdaq Global Select Market (Nasdaq) to the New York Stock Exchange (NYSE). The company expects its common stock to begin trading on the NYSE at market open on May 23, 2022 under its current ticker symbol. The company’s common stock will continue to trade on Nasdaq until the transfer is complete.