INDIANA — Evans Senior Investments (ESI) has arranged the sale of an assisted living community in Indiana. The price and location were not disclosed. The seller was a publicly traded REIT seeking to divest of a non-performing asset. In 2018, the community had stabilized occupancy levels aboce 95 percent. However, in recent years the occupancy has slipped due to new competition in the surrounding submarket. At the time of sale, the community’s unit occupancy was 60 percent and it was operating at a negative cash flow margin. The buyer was …
MESA, Ariz. — Thoma-Holec Design has hired interior designer Lisa Warnock as principal at the Mesa-based firm. Warnock will lead the launch of the new Northwest Studio in Portland, Oregon, specializing in senior living, multifamily and hospitality design. Warnock has over 20 years of experience in the senior living, multifamily and hospitality sectors. She was previously principal and director of housing interiors at LRS Architects. Warnock earned her bachelor’s degree in interior design at Marylhurst University. In addition to her design work, Lisa is a member of the Illuminating Engineering …
PALM SPRINGS, Calif. — CBRE Senior Housing has arranged $42 million in construction financing for Living Out Palm Springs, a luxury active adult community that will cater primarily to LGBTQ residents. Aron Will, Austin Sacco and Tim Root of CBRE Senior Housing arranged the financing on behalf of a joint venture between KOAR International Inc. and a group of high-net-worth investors. The loan is a non-recourse, four-year loan with full-term interest-only payments and an extension option. A national bank provided the funds. The nine-acre site is located at the northwest …
COVINGTON, Ga. — McShane Construction Co. has completed work at Covington Crossings, a 198-unit affordable seniors housing community in Covington, approximately 35 miles east of Atlanta. Units are available in one- to three-bedroom options. Additionally, the property contains a surface-level parking lot with 208 spaces. Situated on a 13-acre site, the four-story building features wood frame construction with brick and cement siding. Martin Riley Associates provided architectural services for Covington Crossings.
NAMPA, Idaho — Blueprint Healthcare Real Estate Advisors has arranged the sale of Streamside Assisted Living & Memory Care in Nampa. The community features 54 assisted living units and 25 secured memory care units. A regional buyer expanding in the Pacific Northwest acquired the property from a local seller. Further details were not disclosed.
MEQUON, Wis., OXFORD, Miss., and SUMMERVILLE, S.C. — Walker & Dunlop has brokered the sales of three seniors housing communities located in the Midwest and Southeast. In the first transaction, Walker & Dunlop brokered the sale of Wright House Senior Living, a 110-unit independent living, assisted living and memory care community in Mequon. The lead broker was Alex Vice. In the second transaction, Walker & Dunlop brokered the sale of The Blake at Oxford, a 100-unit assisted living and memory care community in Oxford. The buyer was Chicago Pacific Founders, …
DALLAS — OneDay, a Dallas-based technology company that provides video storytelling within senior living communities, has appointed Rachel Nader to the position of assistant vice president of client success operations and enablement. Nader has over 10 years of experience in the senior living industry. She started her career as the online church coordinator for Christ Fellowship Church, a mega-church in Palm Beach Gardens, Florida, where she discovered her passion for older adults. She then launched into a role as the director of sales role at Sunrise Senior Living. Throughout her …
WILLIAMSBURG, Va. — Ziegler has arranged $71.3 million in bond financing for Williamsburg Landing, a continuing care retirement community (CCRC) in Williamsburg. Williamsburg Landing is located on 138.6 wooded acres and was founded in 1982. Since opening its doors, the community has grown to include 317 independent living apartments, 72 assisted living units, 24 memory care units and 73 health and rehabilitation units. Over the years, Williamsburg Landing has borrowed for its capital needs with direct bank bonds, resulting in a complex capital structure with 14 separate obligations provided by …
Kittle Property Group Completes $36.2M Reserve at White River Active Adult Community in Indianapolis
INDIANAPOLIS — Kittle Property Group Inc. has opened the doors at Reserve at White River, an active adult community in Indianapolis. The $36.2 million development features 210 units that include one-bedroom/one-bathroom homes and two-bedroom apartments with either one or two bathrooms. Units range from 794 to 1,040 square feet. Residents will enjoy close proximity to downtown Indianapolis, as the property sits four miles from the center of the city. It is located on IndyGo’s No. 37 line, which connects to the Julia Carson Transit Center downtown. It is also located …
IRVINE, Calif. — Sabra Health Care REIT (NASDAQ: SBRA) has completed the $23.6 million acquisition of a 113-unit seniors housing property in Jasper, Indiana. The deal is a sale-leaseback transaction with the seller and operator, Legacy Living. The asset opened in 2019 and features 18 independent living cottages, 70 assisted living units and 25 memory care units. The lease has an initial term of 15 years with two five-year extension options. In a simultaneous, but unrelated, transaction, Sabra also transitioned three of its skilled nursing facilities to a new operator. …