BEND, Ore. — G5, a Bend-based digital marketing software and services platform for senior living communities, has hired Steve Wright as sales director for senior living. “Steve’s experience with senior living providers in both the nonprofit and for-profit space is a huge asset to G5,” says Doug Johnson, chief revenue officer. “He’s a well-respected industry veteran who understands the true digital marketing needs of our senior living customers.” Wright has spent the last 30 years in the seniors housing space, both as a provider and consultant to owners and operators. …
SARASOTA, Fla. — The United Group of Companies has received a $48 million construction loan from Trez Capital, with the funds used to build The Alloro at University Groves. Located in the coastal Tampa suburb of Sarasota, the community will feature 183 units of what the developer calls “independent living lite,” a bridge between active adult and independent living. Units are restricted to those age 55 and older. Units will vary in size between 708 and 2,232 square feet. A 15,210-square-foot clubhouse will serve as the center of the community. …
SHAKER HEIGHTS, Ohio — Confluent Senior Living and Harbor Retirement Associates (HRA) have broken ground on a 106,698-square-foot assisted living and memory care community in Shaker Heights, a suburb of Cleveland. Representing the first project of its kind to break ground in this city within the past 20 years, HarborChase of Shaker Heights will address the unmet demand among local residents for this housing option. The three-story community will offer 108 licensed senior living units, comprising 80 apartments for assisted living and 28 units for memory care residents. The community …
NEW YORK CITY — Dwight Capital, a New York-based firm, provided $234.2 million in seniors housing and healthcare financings during second-quarter 2021. Dwight closed a $94.3 million HUD loan for The Village at Gainesville, a 651-bed senior living community located in Gainesville, Florida. The gated property is situated on a 104-acre campus and offers assisted living, memory care and skilled nursing services. The refinancing closed as the largest healthcare 232(a)(7) loan in HUD’s history to date, according to Josh Sasouness, who originated this transaction. In a separate transaction, Clint Miller …
MCKINNEY, Texas, and OCEANPORT, N.J. — The Proveer Senior Living family of companies has formed a joint venture with real estate investment firm East Gate Alliance to form a seniors housing acquisition pipeline. The two groups have been working collaboratively since earlier this year developing a partnership that also provides multiple lines of credit for pre-closing deal costs, due diligence expenses, and corporate overhead, as well as access to working capital for multiple years. “We interviewed several owner-operators in the seniors housing space before ultimately choosing to partner with Proveer,” …
NATICK and MILLIS, Mass. — Cushman & Wakefield has arranged the sales of two entitled seniors housing development sites in Natick and Millis, located approximately nine miles from each other between Boston and Worcester. Barberry Homes sold the assets to Anthology Senior Living for $14.6 million. The Natick site, when complete, will consist of 86 assisted living and memory care units on 5.5 acres and the Millis site will feature 105 independent living, assisted living and memory care units on 7.7 acres. The Cushman & Wakefield team that led the …
RICHMOND and VIRGINIA BEACH, Va. — Blueprint Healthcare Real Estate Advisors has arranged the sale of two memory care communities in Richmond and Virginia Beach ProMedica acquired the assets with ownership partner Welltower for $31 million. The seller was not disclosed. The portfolio included two fully stabilized communities that boasted high occupancy and above-market rates. The Memory Center Richmond consists of 48 units and opened in 2015 while The Memory Center Virginia Beach consists of 48 units and opened in 2008.
TULSA, Okla. — Berkadia Seniors Housing & Healthcare has arranged $5.6 million in financing for a 54-unit, 111-bed skilled nursing facility located in Muskogee County, located southeast of Tulsa. Jay Healy of Berkadia Seniors Housing & Healthcare secured the loan on behalf of the undisclosed borrower. The loan was refinanced through HUD’s 232/223(f) program. The $50,100-per-bed, 35-year loan represented 50 percent of the property’s value. The project was originally constructed in 1974 and features 58 ventilator beds. Historical occupancy has averaged 75 percent. “The 232/223(f) Program presented the sponsor a …
COLUMBUS, Ohio — VIUM Capital, a Columbus-based capital provider for seniors housing, has hired Scott Tittle as a managing director and the firm’s first head of government relations and external affairs. Tittle was most recently an executive director with The National Center for Assisted Living (NCAL), a position he served for six years. He will start in his new position on Sep. 7. A licensed attorney, Tittle brings over 15 years of experience guiding assisted living and skilled nursing operators with their regulatory, reimbursement and advocacy needs. Prior to his …
CHICAGO — Evergreen Real Estate Group, Synergy Construction Group and the Chicago Housing Authority have completed construction of Ravenswood Senior Living, a 193-unit affordable seniors housing community in the Ravenswood neighborhood on the north side of Chicago. The property was previously the Ravenswood Hospital, which was built in 1974 and fell vacant in 2002. The redevelopment project cost $81 million and took a year-and-a-half to complete. Located between Damen and Ravenswood avenues, Ravenswood Senior Living is a 10-story building that is situated close to public transit, including the Damen and …