GLEN ALLEN, Va. — HJ Sims has arranged $93.4 million in financing for LifeSpire of Virginia, a continuing care retirement owner-operator based in Glen Allen. LifeSpire currently owns and operates four life plan communities in Virginia: The Chesapeake, The Culpeper, The Glebe and Lakewood. The financing provided funds for the acquisition The Summit in Lynchburg, for capital projects Lakewood and The Culpeper, and to refinance existing bank debt with permanent bond debt. The seller in the Summit transaction is Centra Health System. The $30.3 millionsale also includes adjacent developable land …
AUSTIN, Texas — Cadence McShane Construction Co. has broken ground on the 128,000-square-foot Anthology of Austin, an assisted living and memory care facility in Austin. Anthology Senior Living is the developer. Designed by OZ Architecture, the five-story building will feature 130 units in studio, one-bedroom and two-bedroom configurations. The 2.2-acre site will boast two large courtyards and is across the street from The Domain, a large, outdoor shopping center. This will be the Cadence McShane’s third assisted living/memory care development with Anthology Senior Living. The project is slated for completion …
BOISE, Idaho, and TRINITY and DE SOTO, Texas — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of two skilled nursing facilities in Texas and one in Idaho. The portfolio includes: River Pointe of Trinity Healthcare and Rehabilitation Center, a 98-bed skilled nursing facility located in Trinity; Park Village Healthcare and Rehabilitation, a 150-bed skilled nursing facility in De Soto; Skyline Transitional Care Center, an 80-bed skilled nursing facility located in Boise. The acquisitions are subject to a long-term, triple-net lease. This acquisitions bring Ensign’s portfolio to 245 …
GRANTS PASS and MEDFORD, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Bridge in Grants Pass and The Orchards in Medford. The properties are approximately 30 miles apart in the southwest corner of the state. The Bridge was constructed in 2001 and offers independent living and assisted living. The Orchards was built in 2000 and offers assisted living. The communities offer a total of 148 units in a combined 103,455 square feet across 3.6 acres of land. A local ownership group with only these two …
Investors, Brokers See Transactions Increasing Amid Strong Economic Fundamentals, Says Webinar Panel
Especially when compared to the early days of the COVID-19 pandemic, the U.S. economy is showing some strong results, according to JP LoMonaco of Valuation & Information Group. There were 60 percent more new businesses started in the first half of 2021 than the same period of 2020, LoMonaco noted. Initial public offerings (IPOs), at 80 per month, are at nearly triple the pace of January 2020. Compared to the pandemic lows of March 2020, the Dow Jones Industrial Average is up 82 percent, the S&P 500 is up 93 …
TACOMA, Wash. — Ziegler has arranged $91.9 million in bond financing, issued through the Washington State Housing Finance Commission, for an expansion project at Eliseo, a continuing care retirement community in Tacoma. Eliseo, formerly known as Tacoma Lutheran Retirement Community, is a nonprofit corporation established in 1975 to develop, own and operate senior living facilities. Eliseo comprises 53 independent living apartments, 88 condo-style independent living units, 41 licensed assisted living beds, 14 memory care units and 187 skilled nursing beds. The expansion project will add 91 new independent living units …
NEWTON, Mass. — JSA Design, an architecture, planning and interior design firm, has completed Sunrise of Newton, a 101,000-square-foot assisted living and memory care community in Newton, a suburb of Boston. The four-story building features 85 suites serving 108 residents. The community, located in suburban Newton Corner, 20 minutes from downtown Boston, is also convenient to area shopping, cultural attractions and restaurants.
CANBY, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Countryside Living, a memory care community in Canby, approximately 21 miles south of Portland. The asset features 37 units and 55 beds. The community was originally built in 1959; gutted, remodeled and expanded in 2007; and had its most recent renovations and expansion in 2011. The facility is approximately 21,746 square feet and is situated on approximately 0.78 acres of land. The seller was a local owner that has multiple different business interests. The buyer is an …
NASHVILLE, Tenn. — Brookdale Senior Living Inc. (NYSE: BKD) has promoted Kevin Bowman to executive vice president of community operations. Bowman joined Nashville-based owner-operator Brookdale in 2016 as regional vice president. Soon after, he was promoted to senior regional vice president, serving multiple states and leading eight district teams. Bowman became West Division vice president in April 2020 and has been leading the division through the COVID-19 pandemic. Bowman has brings 30 years of senior living experience to this position, where he will provide strategic direction for Brookdale’s 682 communities …
WEST DUNDEE, Ill. — McShane Construction Co. has been selected by Westbrook at Canterfield, LLC to build Woodlands at Canterfield in West Dundee, approximately 40 miles northwest of downtown Chicago. The development will offer 91 assisted living units and 40 memory care beds, along with 16,000 square feet of amenity space and 92 parking spaces. It is located on a nine-acre site. Completion of Woodlands at Canterfield is scheduled for April 2023. AG Architecture is the architect and RDG Planning and Design is the interior designer.