News

AcquisitionsArkansasNews

SLIB Negotiates Sale of Three Communities in Northwest Arkansas

by Jeff Shaw

ARKANSAS — Senior Living Investment Brokerage (SLIB) has arranged the sale of three seniors housing properties in Northwest Arkansas. The portfolio consisted of 175 private-pay independent living and assisted living units. The average age of the assets was 22 years and the properties averaged 52,000 square feet. Occupancy was 77 percent with revenue just under $4 million. The seller is an independent family owner-operator based in Arkansas that exited seniors housing. The buyer is a private national company based in the Northeast with holdings in the healthcare arena. This is …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsCompany NewsNewsTechnology

QX Global Group Acquires Management Consulting Firm Chazey Partners

by Jeff Shaw

BLOOMFIELD, N.J. — QX Global Group, a Bloomfield-based business process outsourcing company, has acquired an 80 percent stake in Austin, Texas-based Chazey Partners, a management consulting and advisory firm specializing in business and digital transformation. The Chazey Partners team brings decades of experience in implementing and operating business support and shared services organizations around the globe, with experience in robotic process automation (RPA) and artificial intelligence (AI). Together, QX and Chazey Partners will work to deliver solutions that cover consulting, digital services and business process outsourcing. Clientele includes seniors housing …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company NewsInvestmentNewsTechnology

K4Connect Receives $12M in Additional Venture Funding

by Jeff Shaw

MORRISVILLE, N.C. — K4Connect, a Morrisville-based health technology company that builds tech for older adults, has received $12 million in additional venture financing since the beginning of the COVID-19 pandemic. The credits the “undeniable need for dependable and scalable resources that can support the older adult population with easy access to important information, socialization tooling, communications and safety.” New investors include Forte Ventures, Second Century Ventures (National Association of Realtors), and senior living industry leaders such as Daniel Decker, president of CoastWood Senior Housing Partners; William Petty, BPOC founder and …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsIndependent LivingNewsSouth Carolina

JLL Arranges Sale of 187-Unit Discovery Village at Sandhill in Columbia, South Carolina

by Jeff Shaw

COLUMBIA, S.C. — JLL Capital Markets has arranged the sale of Discovery Village at Sandhill, a 187-unit independent living community in Columbia. JLL marketed the property on behalf of the seller, South Bay Partners LLC. Liberty Senior Living LLC acquired the property and took over operations following the closing of the transaction. The property has been renamed to Inspire Sandhill. The price was not disclosed. Completed in 2019, Inspire Sandhill features one-, two- and three-bedroom units averaging 981 square feet. Located on 8.4 acres, Inspire Sandhill is near local entertainment …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsCCRCNew HampshireNews

Covenant Living Acquires 222-Unit Hillside Village Keene CCRC in New Hampshire

by Jeff Shaw

KEENE, N.H. — Covenant Living Communities and Services has acquired Hillside Village Keene, a continuing care retirement community (CCRC) in Keene, 20 miles north of the Massachusetts border. Covenant acquired the community out of bankruptcy and has renamed it Covenant Living of Keene. Grandbridge Real Estate Capital’s David Kliewer, Jay Jordan and Allen McMurtry arranged the $33 million sale. Situated on 66 acres, the property opened in 2019 and features 141 independent living units, 43 assisted living units, 18 assisted memory care units and 20 nursing care suites. Entrance fees …

Continue Reading
0 FacebookTwitterLinkedinEmail
Assisted LivingDevelopmentNew JerseyNews

Sunrise Opens 99-Unit Community in Mountain Lakes, New Jersey

by Jeff Shaw

MOUNTAIN LAKES, N.J. — Sunrise Senior Living has opened the doors on Sunrise of Mountain Lakes in the North Jersey borough of Mountain Lakes. The community features 99 units of assisted living and memory care. Nearby medical support is available to support care coordination and wellness though Saint Clare’s Denville Hospital and Morristown Medical Center. Lakeland Hills Family YMCA offers transportation and intergenerational activity programming options. Germaine Dignan is the property’s executive director.

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAffordable HousingIllinoisMinnesotaNewsOhioOperationsVirginia

Evergreen Real Estate Group to Operate 1,377-Unit Portfolio in Illinois, Minnesota, Ohio, Virginia

by Jeff Shaw

CHICAGO — Chicago-based Evergreen Real Estate Group has been retained to manage multifamily communities comprising a total of 1,377 units across Illinois, Minnesota, Ohio and Virginia. The assignments include a mix of market-rate units and affordable housing for families, seniors and disabled individuals, expanding Evergreen’s management portfolio to more than 10,000 units throughout the U.S. “While some of the new management contracts were underway just before COVID-19, many started during the pandemic, and we have taken great care to help residents of each community navigate these uncertain times,” says Steve …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsNewsOperationsPennsylvania

Providence Place Senior Living to Operate Country Meadows in Lancaster, Pennsylvania

by Jeff Shaw

LANCASTER, Pa. — Providence Place Senior Living has taken over leadership duties at the former Country Meadows of Lancaster in Lancaster. Providence Place is a sister company of Country Meadows, also owned by the George M. Leader Family. Like Country Meadows, the community serves seniors through independent living, assisted living and memory care at six additional campuses in Central and Eastern Pennsylvania.

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentNewsTexas

Montrose Center Opens LGBTQ-Friendly Affordable Community in Houston

by Jeff Shaw

HOUSTON — The Montrose Center has completed construction of the Law Harrington Senior Living Center, an age- and income-restricted housing community in Houston’s Third Ward. Designed by Smith & Co. Architects, this affordable, LGBTQ-affirming senior living center features 112 one- and two-bedroom independent living apartments. Development took seven years and cost $22 million. The property totals 162,000 square feet. Units are reserved for those over 62 years of age making up to 60 percent of the area median income. A 17,196-square-foot clubhouse features a social services department managed by the …

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentIllinoisNews

Walsh Construction Completes Broadview Affordable Community in Chicago

by Jeff Shaw

CHICAGO — Walsh Construction has completed work on Broadview Senior Apartments, an affordable community for residents over age 55 in Chicago. CIBC Bank USA provided a $5.3 million dollar construction loan and made a $6.9 million equity investment in the project, which rises three stories. Of the 70 units, 11 are reserved for special-needs tenants. “We support affordable housing initiatives because we know how important the security of a home is,” says Cheryl Wilson, managing director and head of US Community Development Lending at CIBC. “We also know seniors can …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts