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Katie Potter Resigns as CEO of AlerisLife, Jeff Leer to Serve as Interim Leader

by Jeff Shaw

NEWTON, Mass. — AlerisLife Inc. (NASDAQ: ALR), a publicly traded operator based in Newton, has named Jeff Leer as interim president and chief executive officer. Leer has served as executive vice president, chief financial officer and treasurer of ALR since 2019 and will continue these responsibilities. He succeeds Katie Potter, who resigned as president and chief executive officer effective April 30. The reason for Potter’s resignation was not released. ALR also announced that its board of directors has engaged the healthcare consulting group of Alvarez & Marsal (A&M) to conduct …

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CaliforniaDevelopmentFinanceMemory CareNews

JLL Arranges Construction Financing for 54-Unit Mountain View Memory Care in California

by Jeff Shaw

MOUNTAIN VIEW, Calif. — JLL Capital Markets has arranged an undisclosed amount of construction financing for the redevelopment of Italian restaurant Frankie, Johnnie & Luigi Too! into Mountain View Memory Care, a Class A, 54-unit, 60-bed, private-pay memory care community in the Bay Area city of Mountain View. JLL worked on behalf of the borrower, the D’Ambrosio Family, and its operating partner, Calson Management, to secure the construction financing through a local bank. The community will also continue be home to the D’Ambrosio Family’s restaurant, Frankie, Johnnie & Luigi Too! …

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AcquisitionsFloridaNews

Chicago Pacific Founders Acquires 113-Unit The Summit of Winter Garden in Florida

by Jeff Shaw

WINTER GARDEN, Fla. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired The Summit of Winter Garden, a 113-unit senior living community in Winter Garden, a suburb of Orlando. The name change reflects the change in ownership. Grace Management Inc. will take over operations at the community. Additional terms of the deal were not disclosed. The new owner plans to make investments in the campus.

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Affordable HousingDevelopmentNew YorkNews

Catholic Charities Opens 135-Unit Pope Francis Affordable Community in Brooklyn

by Jeff Shaw

NEW YORK CITY — Catholic Charities Brooklyn and Queens has opened the doors on Pope Francis Apartments at Loreto, a 135-unit affordable seniors housing community in Brooklyn’s Brownsville neighborhood. RKTB Architects designed the community, which features a mix of units for formerly homeless seniors, independent residences and supportive housing. Built on the former site of a church, the building rises eight stories. The property is designed to match with the adjacent Baretta Apartments, which RKTB designed utilizing the firm’s Affordable Infill Prototype (AIP) design template. Pope Francis Apartments include rooftop …

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Assisted LivingDevelopmentFinanceNewsOregon

Ziegler Arranges $24M Construction Loan for Onelife Community in Springfield, Oregon

by Jeff Shaw

SPRINGFIELD, Ore. — Ziegler has acted as financial advisor in a debt placement totaling $24 million. The borrower, Onelife Senior Living, will use the funds to develop Esther Assisted Living Community, a 103-unit property in Springfield, a suburb of Eugene. The Esther will be the fifth assisted living/memory care community owned by Onelife in Oregon. The financing provides a construction and bridge term for Onelife to build and stabilize the community prior to placing long-term, permanent, fixed-rate financing via long-term agency debt. The transaction was closed with asset management firm …

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AcquisitionsAffordable HousingFloridaNews

AHIB Sells Two Affordable Communities in Palatka, Florida for $4.9M

by Jeff Shaw

PALATKA, Fla. — Affordable Housing Investment Brokerage Inc. (AHIB) has sold Kay Larkin Apartments, a 60-unit garden-style apartment complex, and Grand Pines Apartments, a 78-unit senior living apartment community. Both properties are located in Palatka, approximately midway between Jacksonville and Orlando. The Grey Rock Group LLC acquired the assets from a private investor for $4.9 million. Kyle Shoemaker and Bill Brading of represented both the buyer and the sellerin the transaction. Kay Larkin and Grand Pines were both developed using LIHTC and SAIL funding and are subject to regulatory agreements …

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NewsPeople

Pathway to Living Hires Alex Germain-Robin, Shea Krause to Vice President Positions

by Jeff Shaw

CHICAGO — Pathway to Living, a Chicago-based developer, owner and operator and seniors housing arm of Chicago-based real estate investor and operator Waterton, has added Alex Germain-Robin as vice president of operations and Shea Krause as vice president of sales and marketing. Both will report to Jeff Floyd, who joined the firm as senior vice president, senior living operations earlier this year. Krause returns to Pathway to Living, having served briefly as regional director of sales in 2019. She will be responsible for the strategic direction of the firm’s metric-centered …

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CCRCDevelopmentIllinoisNews

HJ Sims Arranges USDA Financing for $32M Expansion Project at Evenglow Lodge in Pontiac, Illinois

by Jeff Shaw

PONTIAC, Ill. — HJ Sims has arranged financing for a $32 million expansion project at Evenglow Lodge, a continuing care retirement community in downtown Pontiac, approximately 95 miles southwest of Chicago. The United States Department of Agriculture (USDA) is providing the majority of the funds. In accordance with USDA’s requirements, proceeds of the financing will be used for the construction of 76 replacement assisted living units, common space and other space used by the health center, as well as for the demolition of the existing assisted living structure. Opened in …

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AcquisitionsMemory CareNewsTexas

Blueprint Brokers Sale of Two Revere Court Memory Care Communities Near Dallas

by Jeff Shaw

ARLINGTON and ROCKWALL, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sales of Revere Court of Arlington and Revere Court of Rockwall, both standalone memory care communities located in metro Dallas. Constructed in 2011, Revere Court of Rockwall consists of 44 memory care units while Revere Court of Arlington, built in 2000, contains 34 memory care units The communities faced operational challenges in 2020 due to the COVID-19 pandemic in addition to the physical plant being adversely affected by freezing temperatures across Texas in early 2021. The communities …

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AcquisitionsCompany NewsNewsTechnology

Seniors Housing Tech Firm Merger: iN2L Acquires LifeLoop

by Jeff Shaw

DENVER and OMAHA, Neb. — iN2L, a Denver-based digital engagement company serving the senior living market, has acquired LifeLoop, an Omaha-based resident engagement platform that encourages communication between residents, staff and family members. The buyer hopes LifeLoop’s suite of communication, experience and operational tools will help build healthy workplaces and communities that support the overall happiness, satisfaction and well-being of both residents and staff. Today, amid mounting caretaker burnout, the industry’s staffing crisis continues unabated, further exacerbating existing operational and occupancy challenges. According to the National Center for Assisted Living, …

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