CHICAGO — Blueprint Healthcare Real Estate Advisors, a Chicago-based brokerage firm focused on seniors housing and other healthcare real estate, has launched a behavioral health advisory group. Industry veteran Andrew Sfreddo will serve as head of behavioral healthcare, and fellow behavioral healthcare real estate veteran Shane Harmon will serve as senior director. In 2020, behavioral healthcare accounted for $90.5 billion of U.S. market value and is on track to reach $132.4 billion by 2027, a 5.3 percent compound annual growth rate, according to Blueprint. Blueprint attributes the rapid growth to …
SCOTTSDALE, Ariz. — CBRE National Senior Housing has arranged the sale of and acquisition financing for Andara Senior Living, a 170-unit luxury seniors housing community in Scottsdale. Built in 2010, the community is located in an affluent pocket of Scottsdale and nestled in the foothills of the McDowell Mountains. The campus features two three-story residential wings interconnected by a covered walkway. The community offers independent living and assisted living services. Reliant Group sold the property to a joint venture between Colonial Oaks Senior Living and Fortress Investment Group. Although the …
WHEATFIELD, N.Y. — Invesque Inc. (TSX: IVQ) has sold $113 million of non-core assets, including its interests in two Calamar-branded active adult communities in Wheatfield, a northern suburb of Buffalo. Inclusive of previously announced dispositions, Invesque has sold $292 million of assets over the last 12 months as part of its portfolio simplification strategy. The Calamar communities were acquired in 2018 as part of the acquisition of Care Investment Trust and were managed by Calamar under a joint-venture structure. “We have been very active over the past year executing on …
MCKINNEY, Texas — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the real estate and operations of Park Manor of McKinney, a 138-bed skilled nursing facility in McKinney. Standard Bearer Healthcare REIT Inc., Ensign’s captive real estate company, will own the real estate. This acquisition brings Ensign’s portfolio to 259 healthcare operations, 26 of which also include senior living operations, across 13 states. Ensign subsidiaries, including Standard Bearer, now own 106 real estate assets.
LOS ANGELES — A co-development team consisting of BRIDGE Housing, the Coalition for Responsible Community Development (CRCD) and Primestor Development have started construction of Evermont, a mixed-use project on the former site of the 1992 Los Angeles riots. The new mixed-use development will deliver 180 affordable housing units for seniors and families, retail stores, a transit plaza and a Metro public transportation system training facility. Construction of Evermont is scheduled for completion in 2024. The residential component, led by BRIDGE Housing and CRCD, consists of Vista@Evermont, which will offer 62 …
WAYNE, N.J. — Marquis Health Consulting Services has completed a $3 million renovation project at Arbor Ridge Rehabilitation & Healthcare Center in Wayne, approximately 20 miles west of Manhattan. Arbor Ridge provides post-hospital care, short-term rehab and long-term residential care. The 120-bed skilled nursing facility maintains a four-star rating from the Centers for Medicare & Medicaid Services (CMS). Renovation highlights also include wide, bright hallways; well-appointed rooms with contemporary fixtures and furnishings; and updated, centralized nurses’ stations. A second phase of the project will add a 3,000-square-foot therapy gym and an activities …
HUDSON, Fla. — Atlas Senior Living and Rimrock Cos. have entered into a joint venture to build, own and operate The Canopy at Beacon Woods. The assisted living and memory care community will be located in Hudson, approximately 40 miles northwest of Tampa along the Gulf Coast. The property will feature 40 assisted living and 24 memory care units. Construction is scheduled for completion in July 2023.
MCMINNVILLE, Ore. — The Springs Living has promoted Brenda Connelly to president of the McMinnville-based operator Reporting to founder and CEO Fee Stubblefield, Connelly will work closely with CFO Molly Vaughan to lead all aspects of the organization. Connelly has held the role of chief operating officer since August 2020, effectively leading the company-wide operational COVID response while working closely with statewide organizations, including serving on the Long-Term Care COVID Forum in Oregon and the Montana governor’s COVID Advisory Task Force. She also led community teams to regain 6 percent …
ABILENE, AMARILLO and TYLER, Texas — Grandbridge Real Estate Capital’s seniors housing investment sales team has arranged the sale of a three continuing care retirement communities (CCRC) in Texas. Lifespace Communities acquired the properties from RSF Partners, Evergreen Senior Living Properties and ER Senior Management. The price was not disclosed. The 664-unit portfolio provides a full continuum of care including independent living cottages and apartments, assisted living, memory care and skilled nursing in a hybrid structure of entrance-fee and rental contracts. The properties include Wesley Court in Abilene, The Craig …
QUEEN CREEK, Ariz. — JLL Capital Markets has provided a $10.6 million refinancing for Countryside Living in Queen Creek, approximately 35 miles southeast of downtown Phoenix. Opened in 2020, the property features 40 units and 42 beds of assisted living and memory care on 2.5 acres. The one- and two-bedroom units range from 344 to 515 square feet. The property is just a few miles from Banner Ironwood Medical Center, The Links Queen Creek Golf Course and Ocotillo Trails Marketplace. The 75-plus population within a five-mile radius of the community …