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Watercrest Promotes Michelle Miller to Executive Director of Community in Sebastian, Florida

by Jeff Shaw

SEBASTIAN, Fla. — Watercrest Senior Living Group has promoted Michelle Miller to executive director of Pelican Landing Assisted Living and Memory Care in Sebastian. Miller will replace Kim Sviben, who was recently promoted to area director of operations. Miller joined Watercrest in 2019 as assistant executive director of Watercrest St. Lucie West, where she supported community growth and established relationships with her team and resident families. Miller brings 22 years of nursing experience to her role, as well as service in the U.S. Army where she spent four years in …

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Assisted LivingDevelopmentNewsTexas

Spectra Properties Plans 118-Unit Worthington Manor in Conroe, Texas

by Jeff Shaw

CONROE, Texas — Spectra Properties has started construction of Worthington Manor at the Lakes of Wedgewood in Conroe. Insight Senior Living will manage the property upon completion, which is scheduled for November. At more than 135,000 square feet, the community is situated on 26 acres and will include 72 assisted living apartments and 46 memory care units. The development was funded in part by the U.S. Housing and Urban Development (HUD) Federal Housing Administration (FHA).

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CCRCFinanceNew YorkNews

HJ Sims Arranges $102.1M Financing for Fountaingate Gardens in Commack, New York

by Jeff Shaw

COMMACK, N.Y. — HJ Sims has arranged a $102.1 million financing for Fountaingate Gardens, an independent living community being built in Commack, located on Long Island. The Gurwin Healthcare System has been providing healthcare services to Long Island residents since 1988 through the Gurwin Jewish Nursing and Rehabilitation Center and the Fay J. Lindner Assisted Living Residences. Gurwin Jewish Healthcare Foundation acquired land adjacent to Fay J. Lindner Residences with the goal of completing the continuum of care through development of an independent living community to be known as Fountaingate …

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Company NewsNewsPeople

WoodBine Senior Living Announces Leadership Changes

by Jeff Shaw

TAMPA, Fla. — WoodBine Senior Living, a Tampa-based owner-operator, has announced a series of leadership changes. Donna LaRotonda, Chris Behm and Daryl McCombs are the new owners and managing partners of the company. Co-founders and former managing partners, Gloria Brock and Steve Gaylor, are taking on strategic advisory roles while also serving as director of sales and director of development, respectively. LaRotonda is a nine-year employee of WoodBine, having most recently served as senior executive director of Spring Village at Galloway. She has more than two decades of marketing and …

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Jeff Rodman seniors affordable housing
Affordable HousingContent PartnersDevelopmentFeaturesFinanceIllinoisIndustry ContentM&T Realty Capital CorporationTexas

MTRCC’s Affordable Housing Expansion Anticipates Seniors Housing Opportunities

by Sarah Daniels

Concerns about real estate distress have primarily focused on retail and hospitality properties, both of which have most visibly borne the brunt of COVID-19 state and local lockdowns. Yet, arguably, seniors housing has suffered just as severe a blow, say Matthew Pipitone and Jeff Rodman, program managers for M&T Realty Capital Corp. (MTRCC), the commercial mortgage banking subsidiary of M&T Bank. Not only have seniors housing residents been restricted from having guests and seeing family members, but owners and operators have been tasked with finding ways to continue caring for …

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GeorgiaNewsSouth Carolina

JLL Arranges Sale, Financing for Claiborne Senior Living

by Jeff Shaw

AUGUSTA, Ga., and CHARLESTON, S.C. — JLL Capital Markets has advised CR Properties and Claiborne Senior Living on the sale of The Claiborne at West Lake and secured $9 million of construction financing for The Claiborne at Brickyard Crossing. The Claiborne at West Lake is a 100-unit assisted living and memory care community in Augusta. The community opened in late 2018 and was approaching 90 percent occupancy at the time of sale. The community was sold to Sabra Health Care REIT. Claiborne Senior Living will continue to manage the community …

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Affordable HousingDevelopmentFinanceKeyBankNewsPennsylvania

KeyBank Provides $23M in Financing for Affordable Seniors Housing Project Near Pittsburgh

by Jeff Shaw

CANONSBURG, Pa. — KeyBank’s Community Development Lending & Investment (CDLI) division has provided $23 million in financing for the construction of an affordable seniors housing project in Canonsburg, located about 20 miles south of Pittsburgh. The financing consisted of an $11 million construction loan and $12 million in low-income housing tax credit (LIHTC) equity. The Pennsylvania Housing Finance Agency also provided a $1.3 million permanent loan. The borrower is a partnership between Ohio-based developer MVAH Partners LLC and nonprofit operator Blueprints. David Lacki and Laura Janosko of KeyBank’s CDLI team …

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DevelopmentNewsWashington, D.C

Senior Lifestyle Corp. Starts Renovation Project in Downtown Washington, D.C.

by Jeff Shaw

WASHINGTON, D.C. — Senior Lifestyle Corp. has started renovations at The Residences at Thomas Circle in downtown D.C. To be completed spring 2021, the renovations will refurbish to several common areas of The Residences of Thomas Circle. The renovations will include a multi-purpose activity room, a living room, a den/library, and a main and private dining room. The renovations also include the expansion of the memory care neighborhood with 17 new apartments.

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FinanceNewsSkilled NursingWisconsin

Ziegler Arranges $9.6M Refinancing for Eskay Real Estate

by Jeff Shaw

UNION GROVE and LOMIRA, Wis. — Ziegler has arranged $9.6 million in refinancing on behalf of Eskay Real Estate, a family-owned post-acute care provider in Southeastern Wisconsin. The refinancing funded the acquisition of a previous partner’s majority interest and refinanced SBA loans related to two post-acute care campuses located in Wisconsin. Both facilities provide skilled nursing care and assisted living accommodations in Union Grove and Lomira. Ziegler recommended refinancing outstanding SBA debt with FHA Section 232/223(f) program to allow Eskay to lower its debt service and eliminate bank-related financing risks …

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NewsPeople

CBRE Hires John Sweeny to Seniors Housing Capital Markets Team

by Jeff Shaw

AUSTIN, Texas — CBRE has hired John Sweeny to its Senior Housing Capital Markets team as a senior vice president to focus on investment sales nationally. Based in Austin, Sweeny has more than 15 years of experience in real estate investing and investment banking, specializing in the seniors housing sector, including active adult, independent living, assisted living, memory care and skilled nursing assets. Throughout his career, he has been involved in more than $3 billion of senior housing transactions. Sweeny will partner with Aron Will, a vice chairman of seniors …

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