INDIANAPOLIS — Sonida Senior Living has acquired two recently renovated senior living communities in metro Indianapolis for approximately $12.3 million. Core Redevelopment, a local multifamily developer and manager, acquired the communities in 2019 and immediately rebranded and repositioned the properties through interior and exterior renovations. Walker & Dunlop Investment Sales brokered the transaction. The communities, Northfield Senior Living and Southfield Senior Living, include 157 independent living units and are located approximately 20 minutes outside of downtown Indianapolis near major highways, stores and restaurants. The assets complement Sonida Senior Living’s existing …
DALLAS — The United Group of Cos. will take on property management duties at five luxury senior communities in Texas, Georgia and Indiana. The arrangement represents the latest in the organization’s expansion in this growing niche and represents the latest additions in what has been a period of growth for United Plus Property Management (UPPM), United Group’s management arm. The new deals center around three newly acquired Texas senior communities: NorthStar Georgetown, The Orchards Market Plaza and The Orchards Arlington Highlands. The organization will also manage day-to-day operations at two …
CHICAGO — Cambridge Realty Capital Cos. has provided a $5.8 million HUD-insured loan for Morris Senior Living, a 76-unit assisted living facility near Chicago. The loan was underwritten by Cambridge Realty Capital Ltd. of Illinois, the lender’s specialists in HUD loans.
VERO BEACH, Fla. — Watercrest Senior Living Group, a Vero Beach-based owner-operator, has promoted Whitney Lane to chief operating officer. Lane joined the Watercrest team in 2018 as vice president of clinical operations, utilizing 15 years of clinical experience to maximize Watercrest’s operational efficiencies while ensuring standards of care, programming and associate training. Under Lane’s leadership, the company’s senior living operations more than doubled in size, expanding throughout the Southeast.
SAGINAW, Texas — Journey Capital and SilverPoint Senior Living have opened Phase I and broken ground on Phase II at Edition of Saginaw, a 6.2-acre senior living campus in Saginaw. Located in the Dallas-Fort Worth Metroxplex, Phase I includes 22 one- and two-bedroom independent living cottages. Phase II will add 74 assisted living and memory care apartments. The 57,000-square-foot expansion is slated to open fall of 2023. This will mark the fourth collaboration and partnership between SilverPoint and Journey Capital.
LAKE OSWEGO, Ore. — Anthem Memory Care has been selected to manage nine memory care communities in Utah, Washington, Minnesota, Michigan and Ohio. The new communities bring Anthem’s portfolio up to 21 properties and mark the Lake Oswego-based operator’s entry into Utah, Washington, Michigan and Ohio. The properties, owned by Irwin Investors, were previously operated by Sinceri and include: Elk Ridge in Maplewood, Minnesota Edgemont Place in Blaine, Minnesota Robinwood Landing in Lansing, Michigan Glenwood in Dublin, Ohio Preserve at Beavercreek in Beavercreek, Ohio Greenfield Estates in Akron, Ohio Pheasant …
MAPLE GROVE, Minn. — Grace Management Inc., a Maple Grove-based operator, has hired Max Rasquinha as national director of dining services. Rasquinha will provide direction, support and training for dining services to all of Grace Management senior living communities throughout the country. Rasquinha has worked in the hospitality industry for more than 25 years. He has a degree in administrative management from the University of Houston and 17 years of restaurant management experience with the Pappas Restaurant group, Landry’s Hospitality and Carlson Restaurants. In 2006, Rasquinha joined the senior living …
NAPERVILLE, Ill. — Bellwether Enterprise Real Estate Capital LLC (BWE) has provided a $21 million Freddie Mac loan for the refinance of HarborChase of Naperville, an assisted living and memory care community in the Chicago suburb of Naperville. Ryan Stoll and Taylor Mokris originated the loan on behalf of the borrowers, affiliates of Bourne Financial Group and HRA Senior Living. HRA operates the 101-unit, two-story property. The loan refinanced the construction debt of the recently developed property, which maintains prepayment flexibility along with a significant interest savings. The loan term …
NAMPA, Idaho — Blueprint Healthcare Real Estate Advisors has arranged the sale of a seniors housing community in the Boise suburb of Nampa. The single-story community features 107 independent living units, 18 assisted living units and 42 licensed skilled nursing beds. The REIT owner and operator collectively decided to divest the property, as it was the operator’s only Idaho location. Cascades Healthcare acquired the asset for an undisclosed price.
NEWTON, Mass. — Five Star Senior Living Inc. (NASDAQ: FVE), a Newton-based operator, has rebranded as AlerisLife Inc. The company’s common shares now trade on the Nasdaq stock market under the new ticker symbol ALR. Aleris is a Latin word meaning “to foster, nourish and develop,” signifying the company’s intent to continue fostering, developing and expanding its lifestyle services. The name change reflects the company’s organizational restructuring over the past two years and its strategic decision to continue delivering a resident experience to senior living and active adults, while also …