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CCRCFinanceFloridaNews

Ziegler Arranges $16.6M Bond Refinancing for Oak Hammock at the University of Florida

by Jeff Shaw

GAINESVILLE, Fla. — Ziegler has arranged $16.6 million in bond financing for Oak Hammock at the University of Florida, a nonprofit continuing care retirement community in Gainesville. The community sits on an approximately 135-acre campus and consists of 269 independent living units, 46 assisted living units, 24 memory care units and 73 skilled nursing beds. The proceeds of the bonds will be used to refinance outstanding 2017 debt and finance approximately $1.9 million of capital expenditures. The 2021 bonds will be followed by the $39 million in bonds scheduled for …

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AcquisitionsAssisted LivingNewsWest Virginia

ESI Brokers $7.1M Sale of SweetBriar Assisted Living in Dunbar, West Virginia

by Jeff Shaw

DUNBAR, W.V. — Evans Senior Investments (ESI) has arranged the sale of SweetBriar Assisted Living, a 65-unit assisted living and memory care community, for $7.1 million, or $110,000 per unit. The community is located in Dunbar, five miles east of Charleston. It was originally built in 1990, and underwent additional expansions in 1999, 2003 and 2007. Today the community has 75 functional beds and 85 licensed beds, and the resident base is 100 percent private pay. At the time of marketing, the community was averaging 95 percent functional bed occupancy …

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AcquisitionsAssisted LivingFloridaNews

Coldwell Banker Negotiates $8.2M Sale of Watermark of Gulf Breeze in Florida

by Jeff Shaw

GULF BREEZE, Fla. — Coldwell Banker Commercial has arranged the sale of Watermark of Gulf Breeze, an assisted living facility in Gulf Breeze, located across Pensacola Bay from Pensacola. The property sold for $8.2 million. The buyer and seller were not disclosed. Michael Mangrum, commercial state director for Coldwell Banker Commercial NRT in Florida, brought the property to market with Coldwell Banker Commercial NRT’s accelerated marketing team led by David Lowry and Roman Tsimberg. The property received 6,353 potential buyers, 138 confidentiality agreements and 16 fully approved bidders.

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NewsPeople

Strive Senior Living Hires Melissa Bossert as Chief Operating Officer

by Jeff Shaw

APOPKA, Fla. — Strive Senior Living, an owner-operator based in the Orlando suburb of Apopka, has hired Melissa Bossert as chief operating officer. She will oversee the company’s day-to-day administration and operations. Bossert has been involved in the senior living industry for over 26 years. Inspired by her grandmother’s love to travel, she began her career in the travel and tourism industry. While working in that environment, she escorted senior groups on tours across the United States, and this is where she fell in love with caring for older adults. …

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CCRCDevelopmentFinanceNew YorkNews

HJ Sims Arranges $398.1M Financing for Broadview at Purchase College Development in New York

by Jeff Shaw

PURCHASE, N.Y. — HJ Sims has arranged $398.1 million in tax-exempt and taxable bonds for Purchase Senior Learning Community Inc., which was formed to develop a new university-based retirement community, Broadview at Purchase College, on the State University of New York Purchase College campus. Centrally located on campus, Broadview will be a continuing care retirement community (CCRC) consisting of up to 68 assisted living and memory care beds, as well as 220 senior residential apartments and villas, 20 percent of which will be reserved for residents earning no more than …

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Active AdultDevelopmentFloridaNews

Resort Lifestyle Communities Opens $30M Shell Harbor Property in Rockledge, Florida

by Jeff Shaw

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.

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Affordable HousingDevelopmentGeorgiaNews

Columbia Residential, Decatur Housing Authority Receive Funding for Affordable Project in Georgia

by Jeff Shaw

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 …

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AcquisitionsIllinoisNewsSkilled Nursing

SLIB Brokers Sale of 70-Bed Skilled Nursing Facility in Central Illinois

by Jeff Shaw

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.

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NewsPeopleTechnology

Enseo Promotes Technology Veteran Kristen Singleton to President, CIO

by Jeff Shaw

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 …

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CCRCFinanceNewsPennsylvania

Ziegler Arranges $39.4M Bond Financing for Simpson in Pennsylvania

by Jeff Shaw

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 …

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