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DevelopmentKentuckyNews

Trilogy, DMK Development Break Ground 115-Unit Community in Owensboro, Kentucky

by Jeff Shaw

OWENSBORO, Ky. — Trilogy Management Services and DMK Development Group have broken ground on a 115-unit seniors housing community in Owensboro, located along the Ohio River in the western portion of the state. Located on 4.7 acres of land, the new community will feature 51 independent living, 44 assisted living, and 20 memory care unit in a mixture of studio, one- and two-bedroom apartments The project will represent a total community investment of $23 million and create over 200 construction jobs, as well as 60 to 70 permanent jobs once …

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AcquisitionsAffordable HousingFinanceKeyBankNewsNorth Carolina

KeyBank Provides $6.5M Loan for Cotton Street Commons Affordable Community in Monroe, North Carolina

by Jeff Shaw

MONROE, N.C. — KeyBank Community Development Lending and Investment (CDLI) has provided $6.5 million of capital for an affiliate of National Church Residences (NCR). The funds will be used to rehabilitate Cotton Street Commons an affordable senior housing property in Monroe, N.C. Cotton Street Commons is a 72-unit pet-friendly property, originally constructed in 1978, serving households with incomes between 30 percent and 60 percent of area median household income. Its 18 single-story buildings contain 64 one-bedroom and eight two-bedroom units and include accessible units. The $6.5 million construction loan, convertible …

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Company NewsFinanceNewsPeople

Capital Funding Group Promotes Erik Howard to Executive Managing Director of Business Development, Marketing

by Jeff Shaw

BALTIMORE — Capital Funding Group (CFG), a Baltimore-based lender, has announced an expansion from long-term care into the multifamily and seniors housing sectors. To help run the new divisions, CFG has promoted Erik Howard to executive managing director of business development and marketing. During his 17-year career at CFG, Howard has been involved with the financing of more than $7 billion of healthcare and multifamily assets. With the move into seniors housing and apartments, Howard and CFG expect that amount to double in the next three years. Along with the …

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AcquisitionsActive AdultNew YorkNews

Marcus & Millichap Brokers $118M Sale of Active Adult Community on Long Island

by Jeff Shaw

PORT JEFFERSON STATION, N.Y. — Marcus & Millichap has brokered the sale of The Vistas of Port Jefferson, a 244-unit active adult community in Port Jefferson Station. Built in 2019 on 27 acres, the 30-building property is located on the North Shore of Suffolk County in Long Island. The unit mix is 36 one-bedroom flat units, 144 two-bedroom flat units, and 64 two-bedroom townhouses. The Port Jefferson Long Island Railroad station and Northwell Mather Hospital are both nearby. The asset sold for $118 million, or $483,607 per unit. Greystar acquired …

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DevelopmentNew JerseyNews

CHA Partners Opens 100,000 SF LIVIA Community in East Hanover, New Jersey

by Jeff Shaw

EAST HANOVER, N.J. — CHA Partners has opened LIVIA East Hanover, a 100,000 square-foot seniors housing community in East Hanover, approximately 30 miles west of Manhattan. The property features 86 beds for long-term care and 37 beds for assisted living and memory care. Construction for LIVIA East Hanover began in late 2020 CHA Partners is currently working on its second LIVIA second facility, located in nearby Totowa. That property is scheduled to open its 310,000-square-foot campus in early 2022.

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Company NewsNews

Spectrum Consultants Rebrands as Tandem Senior Living Advisors

by Jeff Shaw

GASTONIA, N.C. — After 43 years as a leading advisor to senior living communities, Gastonia-based Spectrum Consultants is rebranding as Tandem Senior Living Advisors. The new moniker is executive creative director David Caudle’s creation, meant to illustrate how the firm partners with other like-minded companies and senior living advocates The rebranding and new name come following the company’s April acquisition of Holleran Consulting, a national community engagement research and consulting firm specializing in resident and employee surveys for senior living. The Holleran name and core business will remain intact. Tandem …

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ColoradoMemory CareNewsPeople

Anthem Memory Care Appoints Jennifer Davidson as Executive Director of Community in Aurora, Colorado

by Jeff Shaw

AURORA, Colo. — Anthem Memory Care has named Jennifer Davidson as executive director for Chelsea, a memory care community in Aurora. In this capacity, she will oversee all daily care, programming and operations. Davidson was senior general manager for the Carillion at Belleview Station in Denver. She was also area director of operations for Lincoln Meadows Senior Living in Parker. Davidson brings over 20 years of senior living experience to this position. She earned a bachelor’s degree in sociology at Metropolitan State University of Denver.

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Active AdultNewsOperations

Active Adult Requires More In-Depth Sales Strategy than Traditional Seniors Housing, Say Webinar Panelists

by Jeff Shaw

As more and more traditional seniors housing developers dip their toes into active adult, one of the challenges is understanding how this newest segment is both similar and different from independent living, assisted living and memory care. Perhaps most importantly, while all segments target seniors, it could be argued that the customer base is completely different. “With traditional seniors housing, about 70 to 80 percent of the initial search comes from an adult child, not the potential resident — typically a female, maybe an adult daughter or granddaughter,” said Julie …

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AcquisitionsAffordable HousingCaliforniaNews

Avanath Acquires 360-Unit River Run Senior Affordable Community in Corona, California

by Jeff Shaw

CORONA, Calif. — Avanath Capital Management, LLC has acquired River Run Senior, a 360-unit affordable seniors housing community in Corona, located in Riverside County. The price and seller were not disclosed. With this acquisition, Avanath now owns 11 properties in Southern California with 2,187 units under management in the region. River Run is the company’s second acquisition in Riverside County; the first, Woodside Senior, was acquired by Avanath in 2014. It is also Avanath’s third acquisition in Southern California in the past nine months. “The property is consistently 99 percent …

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DevelopmentFinanceNewsPennsylvania

HJ Sims Arranges $78M in Financing for Landis Communities

by Jeff Shaw

LITITZ, Pa. — HJ Sims has arranged $25 million in financing for Landis Place on King (LPK) and $53 million for Landis Homes Retirement Community (LHRC), which operates a continuing care retirement community in Lititz, approximately midway between Philadelphia and Harrisburg. Landis Communities operates a home and community services subsidiary, Landis HCBS, and a middle-market housing subsidiary, Landis Quality Living. As of 2021, LHRC serves 850 residents on its campus with residential living (cottages, apartments, hybrid homes and suites), personal care, skilled nursing and memory support services. The first loan …

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