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Assisted LivingDevelopmentNew YorkNews

The Bristal Assisted Living Opens 132-Unit Community in Manhattan

by Jeff Shaw

NEW YORK CITY — The Bristal Assisted Living, an owner and operator focused on Long Island and New Jersey, has opened its 23rd community, its first in the borough of Manhattan. Located at the intersection of York Avenue and 86th Street on the Upper East Side, The Bristal at York Avenue features 132 units, including 44 that offer memory care services. “New York City’s 65-plus population has increased by nearly 30 percent in the past decade,” says Faraz Kayani, regional director of operations for The Bristal. “The 1.2 million New …

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AcquisitionsNewsWashington

Cushman & Wakefield Negotiates Sale of 703-Unit Portfolio in Vancouver, Washington

by Jeff Shaw

VANCOUVER, Wash. — Cushman & Wakefield has arranged the sale of three Class A seniors housing communities in the Portland, Oregon suburb of Vancouver. The 703-unit portfolio spans the care continuum with offerings of active adult apartments, independent living, assisted living and memory care services. The seller, Rood Investments, developed all three communities between 2001 and 2017 in well-amenitized urban areas. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker and Jack Griffin represented the seller in the transaction. The buyer and price were not disclosed.

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AcquisitionsAssisted LivingGeorgiaNews

SLIB Brokers Sale of Two Oaks Senior Living Communities in Georgia

by Jeff Shaw

LEESBURG and COLUMBUS, Ga. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of two Oaks Senior Living communities in the Middle Georgia municipalities of Leesburg and Columbus. The properties feature 154 units of assisted living and memory care. Oaks Senior Living, which will stay on as operator, sold the assets to a 1031 exchange fund. The price was not disclosed. Bradley Clousing and Daniel Geraghty of SLIB handled the transaction.

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Company NewsNewsOperationsPeople

Katie Potter Resigns as CEO of AlerisLife, Jeff Leer to Serve as Interim Leader

by Jeff Shaw

NEWTON, Mass. — AlerisLife Inc. (NASDAQ: ALR), a publicly traded operator based in Newton, has named Jeff Leer as interim president and chief executive officer. Leer has served as executive vice president, chief financial officer and treasurer of ALR since 2019 and will continue these responsibilities. He succeeds Katie Potter, who resigned as president and chief executive officer effective April 30. The reason for Potter’s resignation was not released. ALR also announced that its board of directors has engaged the healthcare consulting group of Alvarez & Marsal (A&M) to conduct …

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CaliforniaDevelopmentFinanceMemory CareNews

JLL Arranges Construction Financing for 54-Unit Mountain View Memory Care in California

by Jeff Shaw

MOUNTAIN VIEW, Calif. — JLL Capital Markets has arranged an undisclosed amount of construction financing for the redevelopment of Italian restaurant Frankie, Johnnie & Luigi Too! into Mountain View Memory Care, a Class A, 54-unit, 60-bed, private-pay memory care community in the Bay Area city of Mountain View. JLL worked on behalf of the borrower, the D’Ambrosio Family, and its operating partner, Calson Management, to secure the construction financing through a local bank. The community will also continue be home to the D’Ambrosio Family’s restaurant, Frankie, Johnnie & Luigi Too! …

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AcquisitionsFloridaNews

Chicago Pacific Founders Acquires 113-Unit The Summit of Winter Garden in Florida

by Jeff Shaw

WINTER GARDEN, Fla. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired The Summit of Winter Garden, a 113-unit senior living community in Winter Garden, a suburb of Orlando. The name change reflects the change in ownership. Grace Management Inc. will take over operations at the community. Additional terms of the deal were not disclosed. The new owner plans to make investments in the campus.

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Affordable HousingDevelopmentNew YorkNews

Catholic Charities Opens 135-Unit Pope Francis Affordable Community in Brooklyn

by Jeff Shaw

NEW YORK CITY — Catholic Charities Brooklyn and Queens has opened the doors on Pope Francis Apartments at Loreto, a 135-unit affordable seniors housing community in Brooklyn’s Brownsville neighborhood. RKTB Architects designed the community, which features a mix of units for formerly homeless seniors, independent residences and supportive housing. Built on the former site of a church, the building rises eight stories. The property is designed to match with the adjacent Baretta Apartments, which RKTB designed utilizing the firm’s Affordable Infill Prototype (AIP) design template. Pope Francis Apartments include rooftop …

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Assisted LivingDevelopmentFinanceNewsOregon

Ziegler Arranges $24M Construction Loan for Onelife Community in Springfield, Oregon

by Jeff Shaw

SPRINGFIELD, Ore. — Ziegler has acted as financial advisor in a debt placement totaling $24 million. The borrower, Onelife Senior Living, will use the funds to develop Esther Assisted Living Community, a 103-unit property in Springfield, a suburb of Eugene. The Esther will be the fifth assisted living/memory care community owned by Onelife in Oregon. The financing provides a construction and bridge term for Onelife to build and stabilize the community prior to placing long-term, permanent, fixed-rate financing via long-term agency debt. The transaction was closed with asset management firm …

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AcquisitionsAffordable HousingFloridaNews

AHIB Sells Two Affordable Communities in Palatka, Florida for $4.9M

by Jeff Shaw

PALATKA, Fla. — Affordable Housing Investment Brokerage Inc. (AHIB) has sold Kay Larkin Apartments, a 60-unit garden-style apartment complex, and Grand Pines Apartments, a 78-unit senior living apartment community. Both properties are located in Palatka, approximately midway between Jacksonville and Orlando. The Grey Rock Group LLC acquired the assets from a private investor for $4.9 million. Kyle Shoemaker and Bill Brading of represented both the buyer and the sellerin the transaction. Kay Larkin and Grand Pines were both developed using LIHTC and SAIL funding and are subject to regulatory agreements …

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NewsPeople

Pathway to Living Hires Alex Germain-Robin, Shea Krause to Vice President Positions

by Jeff Shaw

CHICAGO — Pathway to Living, a Chicago-based developer, owner and operator and seniors housing arm of Chicago-based real estate investor and operator Waterton, has added Alex Germain-Robin as vice president of operations and Shea Krause as vice president of sales and marketing. Both will report to Jeff Floyd, who joined the firm as senior vice president, senior living operations earlier this year. Krause returns to Pathway to Living, having served briefly as regional director of sales in 2019. She will be responsible for the strategic direction of the firm’s metric-centered …

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