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Active AdultCaliforniaDevelopmentNews

Greystar Acquires Land for Everleigh San Clemente Active Adult Community in California

by Jeff Shaw

SAN CLEMENTE, Calif. — Greystar has acquired a plot of land at 515 Avenida Vaquero in San Clemente for Everleigh San Clemente, an active adult development. “Everleigh San Clemente is ideal for people that have been living in San Clemente since they bought their first home and don’t want to leave the charming beach town,” says Emily Clark, regional property manager said. “The community has an ideal location just a mile from the ocean with access to the Pacific Coast Highway, which features a convenient walking and biking trail that …

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Affordable HousingAssisted LivingFinanceMassachusettsNews

Greystone Provides $24.8M Freddie Mac Refinancing for Affordable Community in Cape Cod

by Jeff Shaw

MASHPEE, Mass. — Greystone has provided a $24.8 million Freddie Mac Optigo loan to refinance a 70-unit senior housing property in Mashpee, a town on Cape Cod. Built in 2018, Laurentide at Mashpee Commons in Barnstable County includes studio, one- and two-bedroom units and offers assisted living and memory care services. Approximately 10 percent of the units are designated affordable housing by the Cape Cod Housing Authority. Shailini Nehra of Greystone arranged the transaction on behalf of the owner-operator, Northbridge Cos. The fixed-rate, nonrecourse financing carries a 10-year term and …

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AcquisitionsIllinoisNewsSkilled Nursing

CareTrust REIT Acquires Imboden Creek Living Center in Decatur, Illinois

by Jeff Shaw

DECATUR, Ill. — CareTrust REIT Inc. (NASDAQ: CTRE) has acquired The Imboden Creek Living Center, Gardens and Villas, a skilled nursing campus in Decatur, approximately midway between Chicago and St. Louis. The campus features 95 licensed skilled nursing beds, 46 assisted living units and five independent living units. The acquisition was a “tack-on” to CareTrust’s existing eight-property master lease with Harrisburg-based operator WLC Management Firm LLC, which will replace the outgoing operator. CareTrust’s initial investment in the facility, inclusive of capital expenditure commitments and transaction costs, was approximately $13.1 million. …

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AcquisitionsNewsOhioSkilled Nursing

Blueprint Brokers Sale of Good Shepherd Village in Springfield, Ohio

by Jeff Shaw

SPRINGFIELD, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Good Shepherd Village, a skilled nursing facility in Springfield. The community was built in the 1960s and was renovated in the 1990s. A private equity owner-operator based in New York was the buyer. Although the seller, price and number of beds were not released, the purchase price equated to approximately $83,000 per bed.

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NewsOperationsPeople

Claiborne Senior Living Hires Brooke Saxon-Spencer as Vice President of Marketing

by Jeff Shaw

HATTIESBURG, Miss. — Claiborne Senior Living, a Hattiesburg-based operator, has hired Brooke Saxon-Spencer as vice president of marketing. Saxon-Spencer is responsible for all aspects of the organization’s marketing efforts, both corporately and for Claiborne Senior Living’s communities. Saxon-Spencer brings over 20 years of experience in senior living including senior management roles at Radiant Senior Living, Oakmont Senior Living and Covenant Living. She is also the founder and editor-in-chief of Belong Magazine, a publication for female creatives and entrepreneurs.

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CCRCDevelopmentFinanceNewsOregon

Ziegler Arranges $58.4M Financing for Capital Manor CCRC in Salem, Oregon

by Jeff Shaw

SALEM, Ore. — Ziegler has arranged $58.4 million in bond financing for Capital Manor, a continuing care retirement community (CCRC) in Salem. Capital Manor features 302 independent living units and 83 residential care beds with an additional 34 memory care beds. Life Care Services has operated the community since 2010. The financing will refund bonds from 2012 while funding a renovation project that will include a new façade and refreshed common areas. “It has been exciting to see Capital Manor, under Life Care Services’ leadership, execute a major operations turnaround, …

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DevelopmentMemory CareNevadaNews

SR Construction Completes Silverado Red Rock Memory Care Community in Las Vegas

by Jeff Shaw

LAS VEGAS — SR Construction has completed work on Silverado Red Rock, a memory care community in Las Vegas. This single-story, 36,381-square-foot community features 60 resident rooms and 72 resident beds. The community will welcome its first residents on March 14. This is the second community that SR has built for Silverado.

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Active AdultDevelopmentFinanceNew YorkNews

Knighthead Funding Provides $34.5M Construction Loan for Active Adult Community in Selden, New York

by Jeff Shaw

SELDEN, N.Y. — Knighthead Funding, LLC has provided a $34.5 million loan for the construction of an active adult community in Selden, a hamlet on Long Island. The borrower is The Northwind Group. The property is fully permitted, planned and approved, but a community name was not released. Situated on 13.8 acres, the complex will feature 124 two-bedroom, two-bath units, including 36 affordable homes, in 15 two-story residential buildings. “Considering the supply/demand imbalance and the limited prospects for new construction in the area, our capital will help Northwood bring needed …

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AcquisitionsNewsSkilled NursingTexas

Ensign Group Acquires 74-Bed Waterton Skilled Nursing Facility in Tyler, Texas

by Jeff Shaw

TYLER, Texas — The Ensign Group, Inc. (NASDAQ: ENSG) has acquired the real estate and operations of The Waterton Healthcare and Rehabilitation, a 74-bed skilled nursing facility in Tyler. In a separate transaction on the same day, Ensign announced that its affiliates acquired the operations of Amarsi Assisted Living, a 103-bed assisted living facility in Glendale, Arizona, and Citadel Assisted Living Facility, a 180-unit independent living and 150-bed assisted living facility in Mesa, Arizona. Both of these operations are part of a healthcare campus that includes skilled nursing services operated …

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FinanceNewsPeople

Berkadia Hires Steve Muth to Seniors Housing Team

by Jeff Shaw

RICHMOND, Va. — Berkadia has hired Steve Muth as a managing director for Berkadia Seniors Housing & Healthcare, serving on the mortgage banking platform. Muth will report to Steve Ervin, senior vice president and head of FHA and seniors housing finance. “Last year was a much brighter year for the seniors housing market, as vaccine rollouts in the first quarter of the year helped occupancy climb and allowed the sector to rebound across the remainder of the year,” says Ervin. “As a result, we saw activity return with investors looking …

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