ROCKLEDGE, Fla. — Resort Lifestyle Communities (RLC) has opened Shell Harbor Retirement Community, a 180,000-square-foot seniors housing property in Rockledge, located along the Atlantic Coast east of Orlando. Development costs were estimated at $30 million. The number of units was not disclosed, but they will be available in studio, one-, two- and three-bedroom floor plans. Shell Harbor Retirement Community is the fifth RLC location in Florida.
DECATUR, Ga. — The Decatur Housing Authority (DHA), in partnership with Columbia Residential, was recently awarded a 9 percent Low-Income Housing Tax Credit (LIHTC) allocation from the Georgia Department of Community Affairs. The move will fund development of Columbia Senior Residences at Decatur East Phase II. The mixed-income community for seniors age 62 and older will be located adjacent to the Avondale MARTA station in Decatur, just east of Atlanta. Phase II will deliver 80 units, 70 of which will be affordable to households earning below 60 percent of the …
AUBURN, Ill. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 70-bed skilled nursing facility in the small Central Illinois city of Auburn. The community was built in 1970. Occupancy was 75 percent at the time of sale. The seller was a regional owner-operator looking to exit a non-core asset while the buyer was looking to expand its presence in central Illinois. The price and name of the facility were not disclosed.
PLANO, Texas — Enseo, a Plano-based technology provider serving the hospitality, senior living and education sectors, has promoted Kristen Singleton to president. Singleton joined Enseo as chief information officer in 2020 and will continue holding that position in addition to her new role as president. In addition to Singleton’s promotion, Enseo plans to add additional resources to several departments, including sales, IT, marketing and customer support. A 30-year veteran of the technology industry, Singleton has more than a decade of experience in gaming, hospitality and travel. She has held CIO …
BALA CYNWYD, Pa. — Ziegler has arranged $39.4 million in bond financing for Simpson, a nonprofit operator based in Bala Cynwyd, a suburb of Philadelphia. Formerly known as Methodist Episcopal Home for the Aged, the borrower operates three continuing care retirement communities in the region: Simpson House in Philadelphia, Simpson Meadows in Downington and Jenner’s Pond in West Grove. The portfolio totals 482 independent living units, 56 personal care units, 118 assisted living units and 178 skilled nursing units. Simpson’s entire capital structure comprises all public, fixed-rate bonds as a …
NEWTON, Mass. — Diversified Healthcare Trust (NASDAQ: DHC) has completed the management transitions for 107 communities within its senior housing operating portfolio (SHOP). Management was transitioned to 10 regionally focused operators. The transitions were completed as part of the agreement between DHC and Five Star Senior Living Inc. (NASDAQ: FVE) to move communities out of Five Star’s operational portfolio. One additional community, located in Delaware, was closed. The moves result in Five Star completely exiting the skilled nursing sector. The company still operates 140 seniors housing communities, with 120 of …
ATLANTA — Greystone has placed financing for a 193-unit seniors housing complex in Atlanta. Greystone’s Senior Housing Capital Markets Team, including Matt Miller, arranged the financing on behalf of Harbert Seniors Housing Fund I LP. The amount and use of the financing were not disclosed. A large, regional bank provided the funds, which include a three-year term. The property, managed by an experienced regional operator, includes independent living, assisted living and memory care units across two construction phases, the second of which was completed in late 2020.
REDONDO BEACH, Calif. — The Ridge Senior Living, a Redondo Beach-based owner-operator, has announced its plans to transition to self-management on Jan. 1. As a part of the management change, The Ridge also promoted Mandy Hampton to the role of CEO, effective immediately. Hampton joined The Ridge Senior Living as COO in 2017, after nearly 20 years in senior living. She has overseen the expansion of The Ridge system from two standalone assisted living and memory care communities in Utah to Colorado, where the company recently opened The Ridge Pinehurst, …
GARDNERVILLE, Nev. — Senior Living Investment Brokerage has arranged the sale of Carson Valley, a 65-unit seniors housing community in Gardnerville, approximately 50 miles south of Reno. The facility was built in 1997 and totals 40,610 square feet on 2.5 acres of land. After a slight occupancy decrease in 2020, Carson Valley increased occupancy to over 90 percent. The seller was a regional owner-operator and will continue to operate the community. The buyer is a private equity group based in the West looking to expand its portfolio. The price was …
SOUTHEAST MICHIGAN — VIUM has provided $58 million in bridge-to-HUD financing for a six-building portfolio in Southeast Michigan. The borrower, a regional owner-operator based in New Jersey, used the funds to purchase the portfolio, which features nearly 700 skilled nursing beds and more than 50 assisted living units. Further details on the seller, buyer and location were not disclosed. VIUM provided financing via senior debt and mezzanine tranches.
