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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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Affordable HousingFinanceNew YorkNews

Berkadia Provides $22.6M HUD-Insured Loan for Refinancing of Section 8 Housing Property in Brooklyn

by Jeff Shaw

NEW YORK CITY — Berkadia has provided a $22.6 million HUD loan for the permanent refinancing of Scheuer House of Manhattan Beach, a 149-unit Section 8 seniors housing property in Brooklyn. The property consists of one eight-story building and two five-story buildings that were respectively constructed in 1964 and 1932. Laura Smith of Berkadia originated the loan through HUD’s 223(f) program. The borrower, New York-based nonprofit JASA, will use a portion of the proceeds to fund capital improvements and preserve affordability.

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Assisted LivingDevelopmentNewsTexas

MorningStar Senior Living Opens 112-Unit Community in Houston

by Jeff Shaw

HOUSTON — MorningStar Senior Living and Hines have opened MorningStar at River Oaks, a seniors housing community in Houston’s River Oaks neighborhood. The community features 85 assisted living and 27 memory care units. The community is Denver-based MorningStar’s first in Texas. Partners on the project include Munoz + Albin Planning & Architecture, Kirksey Architecture, Thoma-Holec Design, TBG Partners and D. E. Harvey Builders.

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AcquisitionsNewsWashington

Ziegler Arranges Sale of 42-Unit South Pointe Assisted Living in Everett, Washington

by Jeff Shaw

EVERETT, Wash. — Ziegler has arranged sale of South Pointe Assisted Living, a 42-unit independent living and assisted living community in Everett, a northern suburb of Seattle. The seller was Radiant Senior Living, which acquired the community in 2020 as part of a larger portfolio transaction including one other community in the greater Seattle area and another community in Bozeman, Montana. Prior to acquiring the community from the previous lessor, Radiant leased and operated the community for 10 years. The buyer and price were not disclosed.

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NewsPeople

Senior Resource Group Hires Chris Gladheim as Vice President of Human Resources

by Jeff Shaw

SOLANA BEACH, Calif. — Senior Resource Group LLC (SRG), a Solana Beach-based company that develops, owns and operates luxury senior living communities across seven states, has hired Chris Gladheim as vice president of human resources. Gladheim will be responsible for managing talent acquisition and management, leadership development, total rewards and recognition, and advising senior management regarding current and future workforce strategies. Gladheim has 25 years of experience in human resources, focusing on recruitment, employee relations, performance management and organizational effectiveness. He is a veteran of the U.S. Marine Corps and …

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