MILWAUKEE — Vium Capital has provided a $21.3 million bridge loan for Bria of Trinity, a continuing care retirement community in Milwaukee. The loan provides funds for the acquisition of the property. The seller was seeking an exit from a geographic outlier while the buyer was looking to expand its presence in the state. Further details were not disclosed.
DALLAS — OneDay, a technology company based in Dallas that serves the seniors housing industry, has appointed Lacy Jungman as vice president of strategic development. OneDay has added 35 new team members this year, bringing it total number of employees to 64. In her new role, Jungman will be responsible for helping client success advisors create and execute specific growth plans through OneDay video platforms and partnerships. As a senior living industry veteran with 15 years of experience, Jungman has been responsible for occupancy revenue, sales strategies, brand management, marketing, …
STONECREST, Ga. — McShane Construction Co. has completed the construction of Stonepointe, a 238-unit affordable senior living community in Stonecrest, just southeast of Atlanta. Dominium was the developer of the project while Martin Riley Associates served as the architect. Construction began in January 2020. Positioned on 11.3 acres of land, the four-story building features units ranging from one to three bedrooms. Last month, McShane also completed Covington Crossings, another affordable senior living residence for Dominium in nearby Covington.
FORT WASHINGTON and LANCASTER, Pa. — Acts Retirement Services and Willow Valley Communities, two of the nation’s largest not-for-profit senior living organizations, have entered into a strategic alliance. Acts, which is based in Fort Washington, will serve as sole corporate sponsor and manager for Lancaster-based Willow Valley Communities. Both headquarters are in the greater Philadelphia area. Willow Valley Living CEO John Swanson will step aside from management oversight to focus entirely on future development of Willow Valley Communities properties. All other current Willow Valley Communities leadership will remain in place …
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 …
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.
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.
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 …
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, …
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 …