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CCRCDevelopmentGeorgiaNews

Lenbrook Completes $108M Campus Expansion in Atlanta

by Jeff Shaw

ATLANTA — Lenbrook, an independent continuing care retirement community in Atlanta, has completed a $108 million expansion at the community. The project, named Kingsboro at Lenbrook, will add 53 independent living units, common areas, event space and a regulation croquet lawn on a four-acre parcel. The first Kingsboro at Lenbrook residents have already moved in, and just a few of the new 39 apartments and 14 villas remain available for sale, according to Lenbrook. THW Design was architect on the project, Greenbriar Development was development consultant and Brasfield & Gorrie …

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AcquisitionsAlabamaFeaturesNews

CBRE Arranges $9.5M Acquisition Financing for Pine Valley Retirement Community in Tuscaloosa, Alabama

by Jeff Shaw

TUSCALOOSA, Ala. — CBRE Senior Housing has arranged acquisition financing for Pine Valley Retirement Community, a 113-unit independent living and assisted living community in Tuscaloosa. The borrower is a joint venture between Winterpast Capital Partners and Broadview Real Estate Partners. The seller was not disclosed. Situated on a 10-acre site, the community comprises 98 independent living units, which includes 38 patio homes, and 15 assisted living units. Post-closing, the buyer plans to deploy approximately $2.4 million in capital upgrades. Aron Will, Austin Sacco and Tim Root of CBRE Senior Housing …

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NewsPeople

Sabra Hires Lukas Hartwich, Eliza Gozar to Senior Vice President Roles

by Jeff Shaw

IRVINE, Calif. — Sabra Health Care REIT Inc. (NASDAQ: SBRA) has hired Lukas Hartwich as senior vice president of finance and Eliza Gozar as senior vice president of investments. Hartwich will work directly with Michael Costa, Sabra’s executive vice president of finance and chief accounting officer, in overseeing Sabra’s investor relations, capital markets and financial planning and analysis functions. Hartwich comes to Sabra after 15 years at Green Street, most recently as a managing director, where he served as the head of research coverage for the healthcare and lodging sectors. …

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Affordable HousingDevelopmentMinnesotaNews

Ecumen Breaks Ground on $24M The Hillock Affordable Community in Minneapolis

by Jeff Shaw

MINNEAPOLIS — Ecumen has broken ground on The Hillock, a 100-unit affordable housing community for seniors in the Longfellow neighborhood of Minneapolis. The project will include 11 units for homeless veterans. The $24 million development is scheduled to open in fall 2022. The site is adjacent to public transit and rents are expected to range from $816 to $1,339 per month. Units are reserved for seniors earning between 30 percent and 60 percent of the area median income. Phase II of the development will add an 89-unit affordable housing building …

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Assisted LivingDevelopmentMassachusettsNews

Benchmark Plans $10M Renovation Project at Falls at Cordingly Dam in Newton, Massachusetts

by Jeff Shaw

NEWTON, Mass. — Benchmark Senior Living has unveiled plans for a $10 million renovation project at The Falls at Cordingly Dam, an assisted living and memory care community in Newton. The project includes opening more spaces with views of the Charles River, creating more open-concept common areas and modernizing apartments. It will also add 22 new units to the property. “The Falls was one of Benchmark’s first communities when we began nearly 25 years ago and has been an important part of the Newton community ever since,” says Tom Grape, …

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Assisted LivingFinanceFloridaNewsOklahoma

Ziegler Arranges $37.8M in Bridge Financing for Columbia Pacific Advisors

by Jeff Shaw

LAKE WORTH, Fla., and TULSA, Okla. — Ziegler has arranged a total of $37.8 million in bridge financing for Columbia Pacific Advisors (CPA), a Seattle-based investment firm. The two loans will refinance existing debt on two of the borrower’s seniors housing properties, The Landing at Lake Worth in Lake Worth and The Linden at Stonehaven Square in Tulsa. Each community offers assisted living and memory care services and consists of 134 total units. CPA developed and opened the Lake Worth Community in late 2018 and opened the Tulsa community in …

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AcquisitionsNewsSkilled NursingWashington

Blueprint Brokers Sale of 123-Bed Alaska Gardens Skilled Nursing Facility in Tacoma, Washington

by Jeff Shaw

TACOMA, Wash. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Alaska Gardens Health and Rehabilitation Center, a 123-bed skilled nursing facility in Tacoma. LTC Properties Inc., a publicly traded healthcare REIT based out of Westlake Village, California, sold the asset for an undisclosed price. The buyer was a private owner-operator.

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News

Argentum Names Regina Serrano as Vice President of Workforce Development

by Jeff Shaw

ALEXANDRIA, Va. — Argentum has named Regina Serrano as the association’s vice president of workforce development. In this role, she will lead and collaborate on new initiatives to address current and coming workforce challenges in the seniors housing industry, as well as advance Argentum’s existing programs. Serrano comes to Argentum with more than 25 years in higher education and workforce management experience, most recently serving as managing director and grants development consultant for Pinnacle Workforce Strategies. Her areas of expertise include working with state and national education and workforce associations …

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Assisted LivingDevelopmentNew JerseyNews

Capitol Seniors Housing Breaks Ground on The Chelsea at Washington Township in New Jersey

by Jeff Shaw

WASHINGTON TOWNSHIP, N.J. — Capitol Seniors Housing has broken ground on The Chelsea at Washington Township, an assisted living and memory care community in Washington Township. The 76,700-square-foot, two-story community will offer 85 units in the suburbs of New York City. The community site is located near Schlegel Lake, Senior Park, a community center and a wide variety of retail shopping and restaurants in the Washington Town Center shopping center. Designed by Meyer Design with KBE Building Corp. serving as general contractor, The Chelsea at Washington Township is scheduled to …

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FinanceNewsPennsylvania

Ziegler Arranges $47.2M Refinancing for Redstone Presbyterian SeniorCare

by Jeff Shaw

GREENSBURG, Pa. — Ziegler has arranged $47.2 million in financing for Redstone Presbyterian SeniorCare, a nonprofit operator based in Greensburg. The borrower operates nearly 500 senior living units on three separate campuses, collectively referred to as Redstone Highlands. Redstone’s three campuses comprise 310 independent living units, 133 assisted living units and 77 skilled nursing beds. Redstone is also the parent company of multiple subsidiaries, including HHH Senior Specialist, which provides home health, home care and hospice services within Redstone Highlands and the surrounding community. Proceeds of the bond financing will …

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