CORVALLIS, Ore. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Regent Court Senior Living, a 32-unit memory care community in Corvallis. Summit Healthcare REIT Inc. sold the asset to a regional owner-operator for $11 million, or $344,000 per unit. Further details were not disclosed.
PONTIAC, Ill. — Cambridge Realty Capital Cos. has provided a $7.4 million HUD-insured loan for Pontiac Supportive Living, a 60-bed supportive living facility located in Pontiac, approximately 90 miles southwest of Chicago. “The loan was underwritten by Cambridge Realty Capital Ltd. of Illinois, our specialists in FHA-insured HUD loans,” says Jeffrey Davis, Cambridge chairman. Further details were not disclosed.
ORLANDO, Fla. — ZOM Living, an Orlando-based multifamily developer, has hired Stephen Ordway as senior vice president of the company’s growing seniors housing division. In his role, Ordway will spearhead ZOM Senior Living’s nationwide growth strategy and pursue opportunities to partner with operators and develop communities that cater to today’s more active and independent senior resident profile. Ordway brings over 17 years of commercial and hospitality real estate experience to ZOM Living, with the last 10 years dedicated to seniors housing. Based in ZOM Living’s Orlando headquarters, Ordway will seek …
EDMOND, MUSTANG and MOORE, Okla. — Green Courte Partners (GCP), a private equity firm based in Chicago, has acquired three active adult cottage communities in the Oklahoma City metro. The properties include Chateaux at Mon Abri in Edmond, Laurel Springs in Mustang and Grace Pointe Living in Moore. The portfolio contains 315 cottages and a 35-unit apartment building. The acquisition increases GCP’s national age-restricted housing portfolio to 17 communities containing approximately 2,600 units. The firm’s wholly owned operating platform, True Connection Communities, operates all 17 assets. “We are increasingly attracted …
THE WOODLANDS, Texas — CBRE National Senior Housing has arranged a $54.4 million refinancing of The Village at Woodlands Waterway in The Woodlands, a suburb of Houston. The borrowers are the Saudi Economic and Development Co. (SEDCO) and Madison Marquette. Situated on a 2.7-acre site, the community was built in 2011 and consists of 116 independent living units, 63 assisted living units and 28 memory care units for a total of 207 units. The property is in the heart of The Woodlands Town Center along The Waterway, which connects to …
BONITA SPRINGS, Fla. — Castle Lanterra Properties (CLP), a New York-based national real estate investment firm, has acquired its first active adult community with the purchase of Diamond Oaks Village in Bonita Springs. The recently constructed Class A property features 160 units reserved for persons age 55 and older. The community is located directly between Naples and Fort Myers, one of the most seniors-rich submarkets in the country, according to CLP. The seller was The United Group of Companies, which developed the community, opening its doors in 2017. The price …
PENNSYLVANIA — As part of a larger restructuring between a public REIT and its regional operator, Blueprint has arranged the re-tenanting of six skilled nursing facilities and an assisted living community in Pennsylvania. A regional operator was selected to manage the communities under a new master lease with the REIT owner. This is the first partnership between the two companies. Further details were not disclosed.
SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NASDAQ: CTRE) has appointed Careina Williams to its board of directors, replacing the retiring Allen Barbieri, who served for six years on the board. Williams has an extensive background in analyzing, underwriting, financing, acquiring and managing commercial real estate across multiple asset classes. She is a principal and advisory board member at Sundance Bay, a real estate private equity firm that specializes in multifamily investing, net lease investing and real estate debt lending nationwide. Williams previously served as chief operating officer of Zero …
GEORGETOWN, Texas — JLL Capital Markets has arranged the sale of Northstar Georgetown, a 210-unit, upscale, low-rise active adult community in Georgetown, a suburb of Austin. JLL marketed the property on behalf of the seller, Chalk Hill Ventures. A joint venture between Bain Capital Real Estate and Capitol Seniors Housing acquired the property. The price was not disclosed. Completed in 2021, Northstar Georgetown is an age-restricted (55+) community comprising one- and two-bedroom units averaging 1,016 square feet. The number of units was not released. Located on 11.5 acres the community …
DALLAS — Three, an architecture firm based in Dallas that works in the seniors housing space, has announced it is expanding into interior design, and has hired Sarah Bay as director to lead the charge. A registered interior designer with experience in hospitality, corporate and restaurant projects, Bay brings knowledge of space planning; building and code requirements; finish and furnishing selection and procurement; and coordination with project teams and stakeholder groups. Bay holds a bachelor’s degree in interior design from the University of Texas and an MBA from Colorado Technical …