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Assisted LivingDevelopmentNew MexicoNews

Insight Senior Living Opens Intergenerational Amaran Senior Living Community in Albuquerque

by Jeff Shaw

ALBUQUERQUE, N.M. — Insight Senior Living has opened the doors at Amaran Senior Living, an assisted living and memory care community in Albuquerque. Amaran Senior Living shares a campus with Nido, a Montessori nursery, and Montessori ONE Academy, with programming for infants, preschoolers and elementary school students. Through the partnership with Nido and Montessori ONE Academy, Amaran is able to provide intergenerational programming and aspires to bring in a cross-generational experience. Residents and children are able to interact with each other throughout the day, walking back and forth from each …

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Assisted LivingDevelopmentMemory CareNew JerseyNews

Braemar Partners Plans 80-Unit Arbor Terrace Basking Ridge in New Jersey

by Jeff Shaw

BASKING RIDGE, N.J. — Braemar Partners has unveiled plans for Arbor Terrace Basking Ridge, an assisted living and memory care community in Basking Ridge, approximately 35 miles west of Manhattan. Groundbreaking is scheduled for later this year for completion in early 2023. When completed, the property will feature 27 assisted living apartments, 24 units for seniors in early stages of dementia and 29 units for full memory care. The Arbor Company, which operates other senior living communities in New Jersey, will operate the community when it opens. This will be …

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AcquisitionsIndependent LivingNewsOhio

Blueprint Arranges Sale of 136-Unit Polaris Retirement Community in Columbus, Ohio

by Jeff Shaw

COLUMBUS, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Polaris Retirement Community, a 136-unit independent living community in Columbus. The four-story community is directly adjacent to the POLARIS Commerce Center, Ohio’s largest mixed-use development. The top floor was built to assisted living licensing specifications for added options in the future. Developed in collaboration with Pittsburgh-based Graziano Construction and Development Company Inc. and Sweetbay Senior Living, Polaris Retirement Living Properties LP engaged Blueprint to market the property and facilitate the sale process. United Church Homes Inc. (UCH), …

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AcquisitionsNewsSkilled NursingTexas

Plains Commercial Brokers Sale of Benbrook Nursing & Rehab in Texas

by Jeff Shaw

BENBROOK, Texas — Plains Commercial has arranged the sale of Benbrook Nursing and Rehab in Benbrook, approximately 10 miles southwest of Fort Worth. Originally built in 1969 the facility is currently licensed for 115 beds. The seller is a regional owner-operator that decided to cull its portfolio and exit the Dallas-Fort Worth metroplex. The buyer was a regional owner-operator looking to expand its Texas portfolio via a 1031 exchange. The price was not disclosed. Daniel Morris with Plains Commercial handled the transaction.

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DevelopmentNewsVirginia

Trammell Crow to Develop 383,000 SF Seniors Housing, Medical Office Property in Metro D.C.

by Jeff Shaw

ALEXANDRIA, Va. — Trammell Crow Co. (TCC) plans to develop a 383,000-square-foot mixed-use development in Alexandria. Located at 765 John Carlyle St., the Class A project will include a 268,000-square-foot seniors housing property and a 115,000-square-foot medical office building. The buildings will be constructed above a common podium, offering a mix of retail uses and a 440-space parking garage. Construction is slated to begin in the third quarter of 2022 for completion by the end of 2024. The 18-story seniors housing building will include approximately 215 residences that will offer …

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Assisted LivingCaliforniaDevelopmentFinanceNews

Cushman & Wakefield Arranges $23M in Construction Financing for Seniors Housing Community in Rolling Hills Estates, California

by Jeff Shaw

ROLLING HILLS ESTATES, Calif. — Cushman & Wakefield’s Senior Housing Capital Markets team has arranged $23 million in construction financing for Peninsula Pointe, a to-be-built,  87-unit, assisted living and memory care community in Rolling Hills Estates on the Palo Verdes Peninsula. The borrower is a joint venture between Singerman Real Estate and Darnell Capital. The project includes the redevelopment of an existing, vacant office building into a luxury, three-story, 65,000-square-foot seniors housing community to be operated by Cadence Living. A large regional bank provided the financing.

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Active AdultNews

Despite Brand Ambiguity, Active Adult Properties Gain Favor With Investors, Says InterFace Panel

by Kristin Hiller

While the product’s definition and brand identity can be obscure and subjective and the amount of data available on it is limited, the asset class known as active adult is experiencing healthy growth in development and resident demand. In turn, those positive vital signs are making both institutional and private investors increasingly comfortable with the property type. This is particularly the case among investors with significant allocations of capital to the multifamily sector and who are seeking yield within that highly competitive space. While the available data on the asset …

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Active AdultDevelopmentFloridaIndependent LivingNews

CanAm Capital Provides $10M Construction Loan for South Florida Senior Living Facility

by Kristin Hiller

PORT ST. LUCIE, Fla. — CanAm Capital Partners, an affiliate of New York City-based investment bank CanAm Enterprises, has provided a $10 million mezzanine loan for the construction of a 159-unit active adult and independent living community in South Florida. The property will be situated on a 10-acre site in Port St. Lucie, located on the east coast of the Sunshine State. The borrower, Lloyd Jones LLC, will operate the property under its Aviva brand. An expected completion date was not disclosed.

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Independent LivingNew YorkNews

Axiom Capital Arranges $17.4M Loan for Refinancing of Independent Living Property in Upstate New York

by Kristin Hiller

SARATOGA SPRINGS, N.Y. — Axiom Capital LLC has arranged a $17.4 million loan for the refinancing of a 178-unit independent living community located in the Upstate New York city of Saratoga Springs. The nonrecourse loan was structured with a 10-year term and a fixed interest rate. The local borrower has owned and operated the facility since its construction. A life insurance company provided the loan.

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Affordable HousingDevelopmentFloridaNews

CREI Holdings Breaks Ground on 244-Unit Lil Abner Affordable Apartments in Sweetwater, Florida

by Jeff Shaw

SWEETWATER, Fla. — Consolidated Real Estate Investments Holdings LLC (CREI Holdings) has broken ground on Lil Abner Apartments II, a 244-unit affordable seniors housing community in the Miami-Dade County municipality of Sweetwater. Located on a 5.1-acre site, formerly home to Vann Academy, the project will feature an eight-story, 250,992-square-foot building with 197 parking spaces. Units will range from 588 to 940 square feet. There will be 106 one-bedroom units and 138 two-bedroom units. Forty percent of the apartments will be restricted to seniors earning no more than 60 percent of …

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