NEWTON, Mass. — Diversified Healthcare Trust (NASDAQ: DHC), a Newton-based REIT, has added five assisted living communities in Wisconsin totaling 300 units to its existing management agreement with Cedarhurst Senior Living within its seniors housing operating portfolio (SHOP). Additionally, DHC has entered into a new management agreement with IntegraCare for two assisted living communities in Pennsylvania totaling 182 units within its SHOP. DHC has now entered into new management agreements representing approximately 91 percent of its 108 SHOP communities to be transitioned from Five Star Senior Living Inc. (NASDAQ: FVE), …
FAIRBANKS, Alaska — Live Oak Bank has provided a $15 million construction loan for owner-operator Frontier Partners LLC to support the development of a 68-unit assisted living community in Fairbanks. The community will consist of 50,680 square feet and will be situated on 7.8 acres. The debt was structured into two loans utilizing the SBA 504 program. The interim construction loan will be held by Live Oak Bank in the amount of $10.2 million, and the second bridge loan prior to the 504 Debenture will be in the amount of …
FORT WORTH and ARLINGTON, Texas — Koelsch Communities has promoted Quentin Zambeck to executive director at Riverside Inn in Fort Worth. Zambeck transferred from sister community Meadowbrook Memory Care in Arlington, where he served as the executive director. Zambeck will oversee daily operations of Riverside Inn. Replacing Zambeck as executive director at Meadowbrook Memory Care team is Jamie Althaus. He brings more than 12 years of community management experience and has been with the Meadowbrook community since the first of the year as the physical plant director.
NOBLESVILLE, Ind. — Capitol Seniors Housing has broken ground on The Outlook at Hamilton Town Center, an active adult community in Noblesville, a suburb of Indianapolis. The 145,000-square-foot, four-story community is reserved for those age 55 and older and will offer 164 units. The property is adjacent to Hamilton Town Center, an outdoor shopping, dining and entertainment destination. The community will also be within walking distance of a recently announced, 274-acre, master-planned development known as Hyde Park, which will include a mix of retail, restaurants, office space and 162 acres …
HENRICO, Va. — Anthology Senior Living has opened Anthology of Tuckahoe, a 150-unit seniors housing community in Henrico, a suburb of Richmond. The community features independent living, assisted living and memory care services. According to a recent report by the U.S. Census Bureau, more than 15 percent of the Henrico County population has already reached age 65 and older, a number that will continue to climb as the baby boomers age.
SAN ANTONIO — Cadence McShane Construction Co. has started renovations on the 12-story Granada Homes Senior Living Apartments, an age-restricted, low-income seniors housing property located on the River Walk in San Antonio. The project will involve a complete revitalization of the 249-unit building, originally built in 1928. Renovations will include a restoration of levels one and 15 per historic guidelines to include updated unit amenities such as countertops and appliances, 16 new apartment units, and community leasing and amenity space. Exterior improvements will also be made to the ground floor …
MCLEAN, Va. — Sunrise Senior Living has appointed Mary Kay Gribbons as chief human resources officer (CHRO) and Maria Davlantes as chief marketing officer (CMO). Gribbons brings more than 20 years of experience in human resources and operations across industries. Most recently, she served as the CHRO for Dean Foods, the largest dairy processor in the U.S. with $8 billion in revenue, more than 15,000 teammates and 70 plants. There she led a formal restructuring, developed programs to retain leaders and enhanced internal communication during a period of intense change. …
WOODBURY, Minn. — Ryan Cos. US Inc., Great Lakes Management and Artemis Real Estate Partners have broken ground on Talamore Senior Living Woodbury, a 200-unit seniors housing community in Woodbury, just east of St. Paul. Talamore Woodbury will be a four-story, 245,00-square-foot senior living community with 90 independent living units, 70 assisted living units, 26 memory care units and 14 care suites. The age and income qualified households — ages 75 and older earning more than $75,000 a year — in the area are expected to grow by 42.3 percent …
MARBLEHEAD, Mass. — Callahan Construction Managers has broken ground on The Mariner in Marblehead, located on the coastal North Shore area near Boston. The 83,000 square foot, three-story building will feature 61 assisted living units and 26 memory care units, with a mix of studio, one- and two-bedroom floor plans. The Northbridge Cos., in partnership with the local development team of Heather Cairns, Michael Lafayette and Philip Helmes, is developing the building with EGA serving as the architect. The project is scheduled for completion in February 2023.
CHICAGO — Smith Senior Living has completed a $23 million modernization at Smith Village, a continuing care retirement community in Chicago’s Morgan Park neighborhood. The project quadruples the number of private suites and rooms for rehabilitation and skilled nursing care residents by reducing its licensed beds to 78 from 100. Smith also built a three-story addition that houses therapy areas and dining rooms. Planning for this project began in 2017 and construction was accelerated because tradespeople were named essential workers during the pandemic, making this wing ready for total occupancy …