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AcquisitionsActive AdultNewsTexas

Livingston Street Capital Acquires 183-Unit Atlas Point at Prestonwood in Carrollton, Texas

by Jeff Shaw

CARROLLTON, Texas — An affiliate of Livingston Street Capital, a private equity firm, has acquired Atlas Point at Prestonwood, a 183-unit active adult community in Carrollton, located in the Dallas-Fort Worth Metroplex This asset brings Livingston’s overall investment in the Dallas-Fort Worth active adult market to $150 million within six months, according to Peter Scola, founder, president and co-CEO of the company. “The Dallas Fort-Worth area appeals across demographics, as it offers an abundance of outdoor amenities, retail destinations, metropolitan conveniences and a great climate,” says Scola. “The population for …

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Active AdultDevelopmentFloridaNews

Adelon Capital Breaks Ground on Parasol Melbourne Active Adult Community in Florida

by Jeff Shaw

MELBOURNE, Fla. — Adëlon Capital has broken ground on its first senior living property, Parasol Melbourne in Melbourne. Cimbra Partners is the principal co-investor on the project. United Plus Property Management will operate the community, which Certified General Contractors will build. The four-story luxury community will feature 159 one- and two-bedroom units ranging from 742 to 1,067 square feet.

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Active AdultDevelopmentFloridaNews

United Group Opens $53M Arcadia Gardens Active Adult Community in Palm Beach Gardens, Florida

by Jeff Shaw

PALM BEACH GARDENS, Fla. — United Group of Companies, along with ownership partners Sina Cos. and Mayan Properties, has opened Arcadia Gardens, an active adult community in Palm Beach Gardens. Development costs were estimated at $53 million. Mayan Properties is an affiliate of Miami-based Aztec Group. Arcadia Gardens features 220 one- and two-bedroom apartments, plus a 15,210-square-foot clubhouse, for adults ages 55 and older. Floor plans range in size from 726 to 2,322 square feet with monthly rents beginning at $2,575.

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DevelopmentMassachusettsNews

Monarch Communities Breaks Ground on 165-Unit Community in Weymouth, Massachusetts

by Jeff Shaw

WEYMOUTH, Mass. — Monarch Communities has started construction of its new Monarch Senior Residence in the South Shore city of Weymouth. The community will add 165 apartments to the Monarch portfolio when it opens, which is currently scheduled for summer 2023. The site is located on Main Street near South Shore Hospital and directly across from the South Weymouth train station. Monarch designs its buildings to create a pedestrian-friendly front plaza which will offer art fairs, farmers markets and festivals. Amenities are available for both residents and team members. This …

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DevelopmentNewsPennsylvania

IntegraCare Starts Construction of 130-Unit Community in York, Pennsylvania

by Jeff Shaw

YORK, Pa. — IntegraCare Corp. has broken ground on a seniors housing community in York, approximately 90 miles west of Philadelphia and 50 miles north of Baltimore. The 124,000-square-foot community will feature 68 independent living, 42 assisted living and 20 memory care units. It has not yet been named. Warfel Construction is the general contractor, while Avenue Development is the development partner. The community is scheduled to open in early 2023. The community is located on the grounds of the former Fitz Farm and will offer a mix of studio, …

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CaliforniaNewsOperationsPeople

Kisco Senior Living Hires Daizel Gasperian as Executive Director of Emerald Court in Anaheim

by Jeff Shaw

ANAHEIM, Calif. — Kisco Senior Living has recently hired Daizel Gasperian as the executive director of the company’s Emerald Court community in Anaheim. Gasperian brings 28 years of experience in the senior living industry to her new role, with over two decades specifically in administration for companies like Silverado, Kindred Healthcare and Life Care Centers of America. She has received multiple awards for her accomplishment in operations including Community of the Year, Excellence in Management, Excellence in Financial Management and President’s Award. Gasperian’s expertise has previously centered in turning around …

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FeaturesNewsOperations

Webinar Panelists: Labor Challenges, Vaccine Mandates Require Creative Hiring Strategies

by Jeff Shaw

Hiring challenges have become a nationwide issue across industries, but seniors housing operators may be among the worst hit. First, the COVID-19 pandemic scared many prospective workers away from the industry. Then many stayed home to take care of children who couldn’t attend school, bolstered by enhanced unemployment benefits. Now many operators are faced with a difficult decision: Should they mandate COVID-19 vaccines among their staff, adding more difficulty to the staffing situation but better protecting residents from the deadly virus? This was the topic discussed on a webinar entitled …

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Assisted LivingDevelopmentNewsTexas

Cadence McShane Breaks Ground on Anthology of Highland Park in Dallas

by Jeff Shaw

DALLAS — Cadence McShane Construction Co. has started construction of Anthology of Highland Park, located in the Highland Park neighborhood of Dallas. Anthology Senior Living is developing the 11-story assisted living community, which will feature 121 units. PRDG is the designer. The 130,000-square-foot development will incorporate 24 memory care units occupying the second floor, and 97 assisted living units on the remaining floors. The assisted living units will include eight studios, 53 one-bedroom and 36 two-bedroom/two-bath configurations. Construction will also include below-grade parking and ground-level parking, providing 58 spaces for …

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AcquisitionsIndianaNews

Grandbridge Arranges Sale of Three-Property Portfolio in Metro Indianapolis

by Jeff Shaw

CARMEL, NEW PALESTINE and DANVILLE, Ind. — Grandbridge Real Estate Capital’s Tampa-based National Senior Housing Investment Sales team has arranged the sale of the three seniors housing properties in the Indianapolis area. Named the Woodland Terrace Portfolio, the properties offer 482 units of independent living, assisted living and memory care in Carmel, New Palestine and Danville. The seller, The Justus Cos., developed the properties over the last four years. The buyer was a partnership between a national investor and Purpose First Partners, which is itself a joint venture between New …

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CaliforniaDevelopmentNews

Mana Investments, Hunter Street Partners Plan 128-Unit Community in Livermore, California

by Jeff Shaw

LIVERMORE, Calif. — Mana Investments and Hunter Street Partners LP have unveiled plans for a 128-unit independent living, assisted living and memory care community in the Bay Area city of Livermore. The project will be part of The Well at Sunset, a mixed-use project featuring medical and creative office space. Construction on the 130,000-square-foot seniors housing project is slated to start in fourth-quarter 2022. “There is a significant need for higher quality senior living options around the region, and the City of Livermore is an underserved market,” says Scott Murray, …

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