News

Willows-Bend_Fridley-Minn
AcquisitionsMinnesotaNews

SLIB Arranges Sale of 229-Unit Minnesota Portfolio

by Hayden Spiess

BLOOMINGTON and FRIDLEY, Minn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a seniors housing portfolio totaling 229 units in Minnesota.  The portfolio includes Nine Mile Creek Senior Living in Bloomington and Willows Bend Senior Living in Fridley. Together, the buildings comprise 304,258 square feet and feature independent living, assisted living and memory care residences.  A national REIT acquired the communities from a partnership of regional developers for an undisclosed price. Jake Anderson, Jason Punzel, Vince Viverito and Taylor Graham of SLIB brokered the transaction.  “The Twin Cities …

Continue Reading
0 FacebookTwitterLinkedinEmail
Jerome-Foulon_Lone-Star
FinanceFloridaNewsTexas

Marathon Provides $235M Refinancing for Portfolio in Florida, Texas

by Hayden Spiess

NEW YORK CITY — Marathon Asset Management has provided a $235 million senior mortgage loan for the refinancing of a seniors housing portfolio totaling 11 properties. An affiliate of Lone Star Real Estate Fund VI is the borrower.  Of the 11 communities, 10 are located in Florida, with one situated in the Dallas-Fort Worth metro in Texas. Together, the properties comprise 1,564 units.  Lone Star Funds acquired the communities, which are operated by Discovery Senior Living, in 2021. The company has invested in strategic capital upgrades to the properties since acquisition.  …

Continue Reading
0 FacebookTwitterLinkedinEmail
White-Springs-Senior-Living_Warrenton-Va
AcquisitionsAssisted LivingMarylandMemory CareNewsVirginia

Morgan Stanley Sells Spring Arbor Portfolio for $296M 

by Hayden Spiess

NEW YORK CITY — Morgan Stanley Investment Management, through funds managed by Morgan Stanley Real Estate Investing (MSREI), and Foundry Commercial have completed the sale of a portfolio of 11 communities within the Spring Arbor Senior Living collection. An undisclosed buyer purchased the communities for $296 million.  Located in Maryland and Virginia, the properties total 795 assisted living and memory care units. According to Morgan Stanley, the communities surpassed 90 percent occupancy in recent years. Foundry will continue to operate the properties through its affiliated Allegro Living platform.  This marks the …

Continue Reading
0 FacebookTwitterLinkedinEmail
Symphony Pointe_Elkhorn, Nebraska
FeaturesNewsOperations

Prioritizing People Is Key to Marketing and Operations, Says InterFace Panel

by Hayden Spiess

By Hayden Spiess LOS ANGELES — What’s in a name? Crystal Dillard, chief marketing officer of Oakmont Senior Living, might say “a lot.” According to Dillard, one crucial component of marketing to prospective senior living residents is not only understanding each unique customer base, but tailoring marketing materials and a community’s online presence accordingly — down to the very language used.  Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, …

Continue Reading
0 FacebookTwitterLinkedinEmail
Alto-Tavares_Tavares-Fla
AcquisitionsAssisted LivingFloridaMemory CareNews

Foundry Commercial, Fortress Investment Group Acquire Two Communities in Central Florida

by Hayden Spiess

CLERMONT and TAVARES, Fla. — Foundry Commercial and Fortress Investment Group have acquired two senior living communities located in Central Florida. The acquisition was completed by Foundry Commercial and funds managed by affiliates of Fortress Investment Group.  Totaling 252 assisted living and memory care units, the communities include Alto Clermont and Alto Tavares. Allegro Living, the affiliated management company of Foundry Commercial, manages the properties under its Alto brand.  Alto Tavares was opened in 2012, and Alto Clermont opened in 2014.  “We are pleased to continue our involvement with these two …

Continue Reading
0 FacebookTwitterLinkedinEmail
Assisted LivingFinanceIndependent LivingMemory CareNew YorkNews

Lument Provides $58.2M Freddie Mac Refinancing for Campus in Upstate New York

by Hayden Spiess

ROCHESTER, N.Y. — Lument has provided a $58.2 million Freddie Mac loan for the refinancing of a seniors housing campus located in Rochester in Upstate New York. Wegman Cos. is the borrower. Tyler Armstrong, Chris Cain and Taylor Russ of Lument arranged the financing.  Totaling 332 units, the campus features The Village at Unity and The Hamlet and offers independent living, assisted living and memory care. The Village at Unity comprises 272 independent living units, and The Village at Hamlet comprises 40 assisted living and 20 memory care units. Originally built …

Continue Reading
0 FacebookTwitterLinkedinEmail
Residence at Selleck's Woods
AcquisitionsConnecticutNews

Harrison Street Acquires Two Communities in Southern Connecticut

by Hayden Spiess

DARIEN and STAMFORD, Conn. — Harrison Street has acquired two seniors housing communities in southern Connecticut for an undisclosed price. The sellers were Virtus Real Estate Capital and LCB Senior Living.  Together, the properties comprise 216 units and include The Residence at Selleck’s Woods in Darien and The Residence at Summer Street in Stamford.  The Residence at Selleck’s Woods totals 102 independent living, assisted living and memory care units and was completed in 2019. Amenities at the community include a private theater, billiards room, salon, library, activity space and restaurant-style dining …

Continue Reading
0 FacebookTwitterLinkedinEmail
Green-Oaks-of-Holland_Holland-Ohio
Affordable HousingDevelopmentNewsOhio

Evergreen Breaks Ground on 120-Unit Affordable Housing Community in Ohio

by Hayden Spiess

HOLLAND, Ohio — Evergreen Real Estate Group has broken ground on a new affordable seniors housing development in Holland in northwest Ohio.  Upon completion, Green Oaks of Holland will comprise 120 units within a four-story building. Residences will include 667 studio and 53 one-bedroom apartments. Gardant Management Solutions will operate the property, which will be licensed as a residential care facility by the Ohio Department of Health and approved as a Medicaid assisted living provider through the Ohio Department of Aging.  Amenities at the property will include a fitness room, beauty …

Continue Reading
0 FacebookTwitterLinkedinEmail
Skilled-Nursing-Facility_Ohio
AcquisitionsNewsOhioSkilled Nursing

Kiser Group Brokers $7M Sale of Skilled Nursing Facility in Ohio

by Hayden Spiess

CLEVELAND, Ohio — Kiser Group has brokered the sale of a skilled nursing facility located east of Cleveland in Ohio. An undisclosed buyer acquired the property for $7 million.  The seller is a family ownership group based in the Cleveland area.  Originally constructed in 1950 and expanded through multiple additions between 1965 and 2001, the facility totals 84 beds. The property is situated on 26 acres and features 76 skilled nursing beds, five assisted living units and three independent living units.  Mark Myers of Kiser Group arranged the sale. “This transaction …

Continue Reading
0 FacebookTwitterLinkedinEmail
Farmhouse-Village-Plan_Millersville-Pa
AcquisitionsDevelopmentNewsPennsylvania

Burkentine Real Estate Group Acquires 67 Acres in Pennsylvania for Senior Living Development

by Hayden Spiess

MILLERSVILLE, Pa. — Burkentine Real Estate Group has acquired 67 acres in Millersville, with plans to develop a senior living community at the site. HHF Real Estate sold the land to Burkentine for $7.9 million.  Upon completion, the development — Farmhouse Village — will feature 420 age-restricted rental homes, including a mix of townhomes and condominiums. Plans also include a 75-bed health care facility.  Matt Wolf of The Kislak Co. arranged the land sale on behalf of the seller. 

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts