PORTLAND, Ore. — LRS Architects Inc., a Portland-based architecture firm, has promoted Ray Yancey from director of senior living to principal. A licensed architect in six western states, Yancey has over 30 years of experience in the field. During his time as LRS he has made significant contributions to senior living projects. Yancey has his bachelor’s degree in architecture from the University of Oregon.
JACKSONVILLE, Fla. — RangeWater Real Estate has acquired a 6.4-acre property in Jacksonville with plans to build an active adult community on the site. RangeWater plans to break ground in early 2022 on Olea Beach Haven. Plans call for a 175-unit, age-restricted community with one-, two- and three-bedroom units. Founded in 2006, RangeWater acquires, develops, manages and invests in multifamily communities across the Southeastern and Southwestern United States, with a $5.4 billion portfolio. RangeWater opened its first two Olea properties in Florida in August 2020 and says it experienced high …
OKLAHOMA and TEXAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of two Class A memory care communities. The properties were built in the Oklahoma City and Dallas metro areas, delivering in 2016 and 2018. The portfolio totals 76 units. Both assets leased-up rapidly and demonstrated consistent upward trending operational performance throughout the COVID-19 pandemic, with occupancies exceeding 95 percent while generating $5.9 million in total revenue and $1.9 million in EBITDAR representing a 32.5 percent operating margin. The developer/operator sold the properties to a new partner in …
RICHMOND, Va. — Pinnacle Living has promoted Michael Shaw from an executive director position to vice president of continuing care retirement community (CCRC) operations. In this role, Shaw will support executive directors in the five Pinnacle Living communities across Virginia. He was previously the executive director at Cedarfield, a 90-acre CCRC in Henrico County, Virginia. Pinnacle hired Paul Gregg to fill the vacancy left by Shaw’s promotion. He holds a master’s degree in aging services and nonprofit management from North Carolina State University, as well as a bachelor’s degree from …
LONE TREE, Colo. — Experience Senior Living Development (ESLD), a NexCore-owned company, has unveiled plans for The Reserve at Lone Tree, a 200-unit seniors housing community in Lone Tree, approximately 15 miles south of Denver. Construction is scheduled to begin on the nine-story property in the fourth quarter of this year for completion in 2024. The community will feature 125 independent living units, 60 assisted living units and 24 memory care units. The site is located within RidgeGate, a 3,500-acre mixed-use community. Independent living units will be up to 1,650 …
BATON ROUGE, La. — Live Oak Bank has closed a $33.5 million loan for Claiborne Senior Living. The financing facilitated a partner buyout for a Class A, 213-unit independent living, assisted living and memory care community, built in 2017 and located in Baton Rouge. Claiborne Senior Living took over management of the property at the beginning of 2021, and has since added net 41 residents through November 2021. Locust Point Capital partnered with Claiborne to complete the capital stack, providing a preferred equity investment. Approximately $1.8 million in loan proceeds …
JACKSONVILLE, Fla. — Grandbridge Real Estate Capital has arranged $19.5 million in financing for Starling at San Jose, a seniors housing community in Jacksonville. The financing retired a bridge loan with Grandbridge’s parent company, Truist Bank. The community was built in 2017. Further details about the property were not disclosed. Richard Thomas and the Grandbridge’s Atlanta-based Seniors Housing and Healthcare Finance team arranged the financing.
CHARLOTTE, N.C. — Raleigh-based Greystone Affordable Development and Charlotte-based Urban Trends Real Estate Inc. have released plans to develop Eastway Crossings, a $28.9 million affordable housing community located on Charlotte’s east side. The development will be funded through the Low-Income Housing Tax Credit (LIHTC) program. Greystone Affordable Development and Urban Trends are co-developers working on behalf of Harmony Housing, a national nonprofit specializing in affordable and workforce housing. Eastway Crossings is Greystone Affordable Development’s first new construction project in the Charlotte market. The community will offer residential units for senior …
FLORIDA — Blueprint Healthcare Real Estate Advisors has arranged the $51 million sale of two skilled nursing facilities, on in Central Florida and one in Northeast Florida. The communities offer a total of 300 licensed beds near local medical centers. A Florida-based owner operator sold the properties to an undisclosed buyer in an off-market transaction.
ST. LOUIS — EmpowerMe Wellness, a St. Louis-based integrated healthcare provider to senior living communities, announced that Jim McKelvey, serial entrepreneur and co-founder of Square (NYSE: SQ), has made an investment in the company. McKelvey joins lead investor Hermann Cos., a St. Louis-based holding company owned by the Hermann family and led by CEO Bob Hermann and COO Rick Holton. “EmpowerMe’s mission of improving the lives of seniors by using technology and integration is what led me to invest,” says McKelvey. “Having founded a technology company to serve the underserved …
