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Active AdultDevelopmentNewsTexas

Cadence McShane Construction to Build 200-Unit Century Heights Active Adult Community in Beaumont, Texas

by Jeff Shaw

BEAUMONT, Texas — The City of Beaumont Housing Authority, in partnership with Brinshore Development, has selected Cadence McShane Construction Co. to build Century Heights, an active adult community in Beaumont, located near the Louisiana border east of Houston. The property will feature 200 units on a 6.8 acre plot.The four-story low-rise will feature four different unit configurations, varying between one- and two-bedroom apartments. Steinberg Dickey Collaborative is serving as project architect. Completion of the project is slated for the end of 2022.

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AcquisitionsNewsRhode IslandSkilled Nursing

Tryko Partners Buys 120-Bed Skilled Nursing Facility in North Kingstown, Rhode Island

by Jeff Shaw

NORTH KINGSTOWN, R.I. — Tryko Partners has acquired Scalabrini Villa, a 120-bed skilled nursing facility in North Kingstown, located along Narrangansett Bay south of Providence. The seller and price were not disclosed. “The acquisition of Scalabrini Villa further grows our investment footprint in New England, specifically within the desirable Rhode Island marketplace,” says Uri Kahanow, Tryko’s director of acquisitions. “North Kingstown’s enviable demographics and deep regional hospital network added to this opportunity’s appeal.” Within a three-mile radius of Scalabrini Villa, the elderly population, median household income and median housing values …

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AcquisitionsActive AdultNewsTexas

JLL Capital Markets Arranges Sale of 360-Unit Active Adult Portfolio in Texas

by Jeff Shaw

ARLINGTON and PLANO, Texas — JLL Capital Markets has arranged the sale of an active adult portfolio consisting of two newly built, age-restricted properties totaling 360 units located in the Dallas-Fort Worth MSA in Texas. JLL represented the seller, Kompass Kapital Management. Capitol Seniors Housing acquired the portfolio for an undisclosed price. The portfolio consists of The Orchards at Arlington Heights in Arlington and The Orchards at Market Plaza in Plano. The Orchards at Arlington Heights totals 256,611 square feet. The Orchards at Market Plaza totals 257,102 square feet. Each …

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AcquisitionsArizonaNews

Focus Healthcare Partners, LCS Acquire Fountain View Village in Fountain Hills, Arizona

by Jeff Shaw

FOUNTAIN HILLS, Ariz. — Focus Healthcare Partners and Life Care Services (LCS) have acquired Fountain View Village, a senior living community in Fountain Hills, a suburb of Phoenix. LCS will operate the 291,000-square-foot community following the acquisition. Fountain View Village consists of 90 independent living units, 68 assisted living units, 45 memory care units and 48 units within its dedicated health center. Rick Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker and Bailey Nygard of Cushman and Wakefield represented the seller, a joint venture between an institutional investor and national operator. …

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AcquisitionsCompany NewsNews

Banko Design Acquires Warner Design Associates

by Jeff Shaw

MARIETTA, Ga., and SAN MATEO, Calif. — Banko Design has acquired Warner Design Associates (WDA), a senior-living focused interior design firm based in San Mateo. The studio will be renamed Warner Design Associates – A BD Studio. Over the past 30 years, Cynthia and Mark Warner, the founders of WDA, built the interior design and procurement business in the senior living industry. Looking to pass the baton, WDA sought out Banko Design to take ownership of the company. Banko Design, a full-service interior design firm located in Marietta, will continue …

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FeaturesNews

ASHA 50 Shows Shuffling of Largest Owners, Operators as Companies Adopt a Variety of Strategies

by Jeff Shaw

WASHINGTON, D.C. — The American Seniors Housing Association (ASHA), in partnership with Seniors Housing Business, has released the 2021 edition of the ASHA 50, which ranks the 50 largest owners and operators in the U.S. seniors housing space. Based in Washington, D.C., ASHA is a trade association that advocates for and represents companies that develop, own, operate and finance seniors housing. The ASHA 50 rankings are based on self-reported portfolio sizes, ranked by total number of units, as of June 1, 2021. Data was also used from other reliable sources, …

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CCRCDevelopmentNewsPennsylvania

Erickson Opens Assisted Living Expansion at Maris Grove in Glen Mills, Pennsylvania

by Jeff Shaw

GLEN MILLS, Pa. — Erickson Senior Living has completed Evergreen Pointe, an expansion at Maris Grove, a continuing care retirement community in Glen Mills. Located approximately 25 miles west of Philadelphia, the project adds a 76,000-square-foot assisted living addition to the property. The expansion is part of a multi-year plan to grow and renovate the CCRC. Evergreen Pointe is located adjacent to the existing continuing care building, Rose Court, which is being renovated to include an expanded memory care neighborhood and redesigned lobby and bistro. The new neighborhood features 84 …

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Assisted LivingDevelopmentNewsSouth Carolina

Watercrest Nears Completion of 98-Unit Community in Myrtle Beach, South Carolina

by Jeff Shaw

MYRTLE BEACH, S.C. — Watercrest Senior Living Group is now accepting reservations at Watercrest Myrtle Beach in Myrtle Beach. The community sales office is now open for the property, which will feature 76 assisted living units and 22 memory care units. The property’s location is near beaches and golf courses, as well as medical centers, retail, dining, art and entertainment. Watercrest Myrtle Beach is one of two senior living development projects partnered between Watercrest, Corecam Capital Partners and Peninsula Alternative Real Estate. Their additional project, Watercrest Macon Assisted Living and …

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FinanceNewsWisconsin

Grandbridge Arranges $12.6M Refinancing for 100-Unit Community in Menasha, Wisconsin

by Jeff Shaw

MENASHA, Wis. — Grandbridge Real Estate Capital LLC has arranged a $12.6 million loan secured by a three-building, 100-unit, 146-bed seniors housing facility on two sites in Menasha, on the northern end of Lake Winnebago. Artin Anvar originated the permanent, fully amortizing modification loan through HUD’s FHA 232/223(f) Interest Rate Reduction (IRR) loan program. Structured with a 26.3-year term and 26.3-year amortization, the nonrecourse transaction closed with a fixed interest rate of 3.2 percent. The loan proceeds will be used to pay off an existing Grandbridge HUD loan. The borrower …

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AcquisitionsAssisted LivingKansasNews

Blueprint Negotiates Sale of Two Communities in Metro Kansas City

by Jeff Shaw

LEAWOOD and SPRING HILL, Kan. — Blueprint Healthcare Real Estate Advisors has arranged the sale of two assisted living and memory care communities in the Kansas City area. The properties were Leawood Gardens, a 70-unit community in Leawood, and Blackhawk Assisted Living, a 48-unit community in Spring Hill. Both communities were built in the early 2000s with subsequent renovations, and occupancies remained relatively stable above 90 percent prior to the operational transition to a West Coast-based national assisted living manager in 2017. Following a stretch of unexpected community-level leadership turnover …

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