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Active AdultCaliforniaNewsPeople

Living Out Hires Ernie Shaffer to Lead LGBTQ-Focused Community in Palm Springs, California

by Jeff Shaw

PALM SPRINGS, Calif. —Living Out has appointed Ernie Shaffer as president of its new flagship community in Palm Springs, located in the Sonoran Desert and slated to open Spring 2023. The active adult retirement community is designed to meet the needs of LGBTQ+ residents. Shaffer has over 30 years of experience in the industry. He served as a board member of The LGBTQ Community Center of the Desert, then known as the Golden Rainbow Senior Center. Shaffer’s experience includes leading numerous teams as director of operations overseeing various types of …

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Affordable HousingDevelopmentMassachusettsNews

Pennrose Opens 55-Unit Mary D. Stone Mixed-Income Community in Auburn, Massachusetts

by Jeff Shaw

AUBURN, Mass. — Pennrose has opened Mary D. Stone Apartments, a 55-unit, mixed-income seniors housing community in Auburn, a suburb of Worcester. The project was the historic rehabilitation of a 1920s-era school building, including the demolition of later-built wings and the construction of a new addition. Mary D. Stone was designed to help address the widespread shortage of affordable housing in Massachusetts, where the National Low Income Housing Coalition estimates there are only 48 available affordable rental homes for every 100 low-income households. Eighty percent of the units at Mary …

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Active AdultCaliforniaFinanceNews

JLL Funds $30.3M Refinancing for Nantucket Creek Active Adult Community in Los Angeles

by Jeff Shaw

LOS ANGELES — JLL Capital Markets has provided a $30.3 million loan to refinance Nantucket Creek, a 172-unit, garden-style, age-restricted apartment community in the Chatsworth neighborhood of Los Angeles. JLL worked on behalf of the borrower, Universe Holdings, to secure the 10-year, fixed-rate loan through Freddie Mac. JLL Real Estate Capital LLC will service the loan. Proceeds from the loan also provided a return of equity to Universe’s balance sheet, which the company plans to use toward future acquisitions. Nantucket Creek comprises one- and two-bedroom units ranging from 623 to …

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AcquisitionsNewsSkilled NursingTexas

Blueprint Negotiates Sale of 70-Unit Skilled Nursing Facility in Temple, Texas

by Jeff Shaw

TEMPLE, Texas — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 70-unit transitional care facility in Temple, approximately 70 miles north of Austin. Mainstreet developed the newly constructed healthcare property but never opened it. A Texas-based real estate investor acquired the property for $10.5 million. The new owner structured a lease with a national healthcare system based out of Southern California and will operate the facility as a specialty post-acute hospital.

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Company NewsFinanceNewsPeople

Cushman & Wakefield Hires Zach Bowyer to Lead Valuation, Advisory Residential Practice Group

by Jeff Shaw

BOSTON — Cushman & Wakefield has hired Zach Bowyer to lead the company’s Valuation & Advisory (V&A) Residential Practice Group in the United States. He will be based in Boston. Bowyer will collaborate with multifamily, co-living, subdivision, student housing and affordable housing V&A professionals to deliver Cushman & Wakefield’s spectrum of services. As both an executive leader and producer, he has experience in asset classes including hotels, seniors housing, healthcare/life sciences, manufactured housing and self-storage. Bowyer began his career in valuation nearly 20 years ago and has completed $75 billion …

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NewsPeopleWisconsin

Lifespace Hires Matt Monaco as Executive Director of Newcastle Place in Mequon, Wisconsin

by Jeff Shaw

MEQUON, Wis. — Lifespace Communities has named Matt Monaco as executive director of Newcastle Place, a seniors housing community in Mequon, a northern suburb of Milwaukee Monaco most recently served as associate executive director at Clarendale Clayton in Missouri. He has extensive culinary and operations experience in senior living, and once worked at former Lifespace community in Urbandale, Iowa. Monaco received his bachelor’s degree in hotel, restaurant and institution management from Iowa State University, and his master’s degree in hospitality management from Purdue University.

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FinanceNewsOhioSkilled Nursing

Cambridge Provides $15.3M HUD Refinancing for Continuing Healthcare of Niles in Ohio

by Jeff Shaw

NILES, Ohio — Cambridge Realty Capital Cos. has provided a $15.3 million HUD-insured loan for Continuing Healthcare of Niles, a 136-bed skilled nusring facility located in Niles, approximately midway between Cleveland and Pittsburgh. Cambridge Realty Capital Ltd. of Illinois, Cambridge’s specialists in FHA-insured HUD loans, originate the loan. Further details were not disclosed.

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NewsPeople

Northbridge Advisory Services Hires Bryan McKeever as Sales, Marketing Specialist

by Jeff Shaw

BURLINGTON, Mass. — Northbridge Advisory Services and its operating entity HallBridge Partners have hired Bryan McKeever as sales and marketing specialist. Based in Burlington, the companies own and operate independent living, assisted living and memory care communities in the Northeast. McKeever will drive sales performance and multi-channel marketing initiatives for HallBridge’s 10 communities. Further, he will play a role in supporting Northbridge Advisory Services with its national consulting business. McKeever comes to Northbridge with nearly 25 years’ experience in senior living, most recently with The Roache Associates Inc., where he …

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Company NewsNewsPeople

CareTrust REIT Elects Careina Williams, Anne Olson as Directors

by Jeff Shaw

SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NASDAQ: CTRE), a San Clemente-based seniors housing REIT, has elected Careina Williams and Anne Olson to the company’s board of directors. The company also re-elected Gregory Stapley, executive chairman; Diana Laing, lead independent director; and Spencer Plumb, director. Williams will fill the remaining term of Allen Barbieri, who retired as a member of the board in March. Olson succeeds Jon Kline, who served on the board for nearly eight years. Olson currently serves as chief operating officer and secretary of Centerspace (NYSE: CSR), …

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AcquisitionsFinanceKansasNews

Cushman & Wakefield Arranges $24.6M Acquisition Financing for Silvercrest at College View in Lenexa, Kansas

by Jeff Shaw

LENEXA, Kan. — Cushman & Wakefield has arranged $24.6 million in financing for the acquisition of Silvercrest at College View, a 136-unit independent living, assisted living and memory care community in the Kansas City suburb of Lenexa. Trustmark Bank provided the capital to a private capital group. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Sam Dylag, Bailey Nygard and Jack Griffin represented the borrower. “Silvercrest at College View is an excellent community with upper-echelon performance in an affluent submarket,” says Wagner. “We’re pleased to have assisted in the financing of …

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