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NexCore Group Hires Jeanette Allen as Vice President of Health and Wellness

by Jeff Shaw

DENVER — Denver-based NexCore Group, a national healthcare, life sciences and senior living real estate developer, has hired Jeanette Allen as vice president of health and wellness for Experience Senior Living (ESL), a NexCore-owned company. Allen has served in the senior living space for more than 30 years. Her most recent experience was serving as vice president of health and wellness for Balfour Senior Living. In her role, she oversaw clinical and wellness, vendor relations and risk management. Prior to that, Allen was divisional director of health and wellness with …

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CCRCFinanceNewsNorth Carolina

Ziegler Arranges $130.8M Financing for United Methodist Retirement Homes

by Jeff Shaw

DURHAM, N.C. — Ziegler has arranged $130.8 million in bond financing for United Methodist Retirement Homes (UMRH). Based in Durham, UMRH operates three communities in North Carolina: Croasdaile Village in Durham, Cypress Glen in Greenville and Wesley Pines in Lumberton. The portfolio totals nearly 1,000 units. The bonds comprise both public, fixed-rate bonds and direct bank-held bonds that enable UMRH to lock in cash flow savings while borrowing $32.6 million of new money capital with its maximum annual debt service unchanged. In addition, the financing will fund a 54-unit independent …

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AcquisitionsFloridaIllinoisMichiganNews

CBRE Arranges Acquisition Financing for Seven-Property Portfolio in Florida, Illinois, Michigan

by Jeff Shaw

NEW YORK CITY and SOUTHFIELD, Mich. — CBRE National Senior Housing has arranged recapitalization and acquisition financing for seven seniors housing communities across three transactions on behalf of a joint venture between New York-based Monarch Alternative Capital LP and Southfield-based REDICO. Aron Will, John Sweeny, Austin Sacco and  Adam Mincberg arranged the financing. American House Senior Living Communities, an affiliated company of REDICO, will manage the communities The seven communities total 1,133 independent living, assisted living and memory care units in Florida, Illinois and Michigan. The Florida Portfolio comprises American …

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AcquisitionsAssisted LivingNewsWashington

Blueprint Brokers Sale of 40-Unit Amber Hills Community in Prosser, Washington

by Jeff Shaw

PROSSER, Wash. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of Amber Hills, a 40-unit seniors housing community in Prosser, 190 miles northeast of Portland, Oregon. Originally constructed in 1999, Amber Hills offers assisted living units. Blueprint positioned the asset as a value-add opportunity focusing the buyer’s ability to increase census by adding regional oversight and increasing the assisted living unit count through a new renovation on the vacant land parallel to the community. The buyer was a growing regional owner-operator. The seller was a local group. The …

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Active AdultNewsPeople

Treplus Communities Hires James Lipnos as Senior Executive

by Jeff Shaw

COLUMBUS, Ohio — Treplus Communities, a Columbus-based developer of active adult communities, has hired James Lipnos as senior vice president of development and construction. Lipnos has nearly three decades of executive leadership expertise in development and construction that includes specializations in land acquisition and zoning. As an active member and immediate past president of the Building Industry Association (BIA) of Central Ohio, he is a champion for driving economic growth and forging partnerships with government and municipalities. Prior to joining Treplus Communities, Jim served as the president of Homewood Corp. …

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Affordable HousingCaliforniaDevelopmentNews

USA Properties Fund Starts Construction of $32M Sage at Folsom in California

by Jeff Shaw

FOLSOM, Calif. — USA Properties Fund has started construction on Sage at Folsom, located approximately 25 miles east of Sacramento in Folsom. Sage at Folsom will offer affordable housing for residents 55 years and older earning between 30 and 80 percent of area median income — approximately $19,150 to $51,000 per year. Rents will range from $450 to $1,300. The 111-unit community is a few blocks from Folsom Lake College, healthcare providers, grocery stores and several large shopping centers, including Broadstone Plaza and the Palladio Shopping Center. Construction on the …

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Affordable HousingDevelopmentMarylandNews

Enterprise Acquires Three Affordable Communities in Maryland, Plans Redevelopment Projects at a Total Cost of $60M

by Jeff Shaw

GLEN BURNIE, ELLICOTT CITY and COLUMBIA, Md. — Enterprise Community Development has acquired and planned redevelopment projects at three affordable seniors housing communities: Park View at Furnace Branch in Glen Burnie, Park View at Ellicott City II in Ellicott City and Park View at Snowden River in Columbia. The combined cost to acquire and redevelop the properties is $60 million. Built in the early 2000s, all three communities serve low-income senior households earning up to 60 percent of the area median income. In total, the three properties consist of 292 …

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FinanceMarylandNewsSkilled Nursing

Walker & Dunlop Provides $43M HUD Financing for Six Skilled Nursing Facilities in Illinois

by Jeff Shaw

BETHESDA, Md. — Walker & Dunlop Inc. has arranged $43.2 million in financing for six skilled nursing facilities located across the state of Illinois. The financing included: $3.9 million for Aperion Care Bridgeport in Bridgeport. $6.9 million for Aperion Care Burbank in Burbank. $6.3 million for Aperion Care Dekalb in Dekalb. $3.6 million for Aperion Care Litchfield in Litchfield. $16.2 million for Aperion Care Wilmington in Wilmington. $6.4 million for Rock River Health Care in Rockford. Bethesda-based Walker & Dunlop’s Joshua Rosen and Brad Annis used Department of Housing and …

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NewsPeople

David Sedgwick to Take Reins at CareTrust REIT

by Jeff Shaw

SAN CLEMENTE, Calif. — The Board of Directors of CareTrust REIT Inc. (NASDAQ: CTRE) has appointed David Sedgwick as CEO, effective Jan. 1. Sedgwick will succeed founding chairman and CEO Greg Stapley, who will continue to serve as CareTrust’s executive chairman during an approximately six-month transition period, following which Stapley and his wife Deborah will commence a three-year, full-time volunteer assignment for The Church of Jesus Christ of Latter-day Saints. The board also announced that Diana Laing was appointed as lead independent director. Sedgwick, who has been with CareTrust since …

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Assisted LivingDevelopmentNew YorkNews

Sunrise, Welltower, Hines Open 151-Unit Community in Manhattan

by Jeff Shaw

NEW YORK CITY — Sunrise Senior Living has opened Sunrise at East 56th, a 151-unit high-rise in the Upper East Side neighborhood of Manhattan. Partners on the project included Hines and Welltower (NYSE: WELL). The asset features assisted living and memory care services. Sunrise is collaborating with Northwell Health for services at the building. The community is the first and only building in the sector to receive LEED Silver, WELL Certification at the Silver level and WELL Health-Safety Rating Seal certifications, according to Sunrise. SLCE Architects designed the building. Champalimaud …

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