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AcquisitionsCaliforniaNevadaNewsWashington

Aegis Living, Blue Moon Capital Buy Seniors Housing Portfolio in Western US from Healthpeak for $350M

by Jeff Shaw

BELLEVUE, Wash. and BOSTON — Aegis Living, a seniors housing owner and operator based in Bellevue, has acquired 10 properties from Healthpeak Properties Inc. (NYSE: PEAK). Aegis already operated the communities under a lease agreement with Healthpeak Properties, a Denver-based real estate investment trust (REIT). Aegis’ joint venture partner on the $350 million acquisition is Blue Moon Capital Partners LP, a Boston-based private equity investor in the seniors housing sector. The portfolio is located in Washington, California and Nevada, totaling 702 units of assisted living and memory care. The acquired …

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Active AdultDevelopmentNewsTexas

Presidium Completes 188-Unit Edgestone Active Adult Community in Frisco, Texas

by Jeff Shaw

FRISCO, Texas — Presidium, a real estate investment and management firm, has completed construction of Presidium at Edgestone, a luxury active adult community in Frisco, a suburb of Dallas. The 165,398-square-foot property features 188 units on 18 acres near a variety of commercial and retail developments, as well as 10 golf courses, several walking trails and the upcoming, 275-acre Grand Park. Frisco was recently recognized as having a higher growth rate than any other U.S. city in the past decade by the U.S. Census Bureau. Designed by Cross Architects and …

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News

The Top 10 Most Popular Seniors Housing Business Articles of 2020

by Jeff Shaw

As we move into 2021, we look back at the 10 most-read articles on the Seniors Housing Business website throughout 2020: Urban Contemporary Design Is All the Rage Erickson Starts Construction of Sprawling 1,400-Unit Community in Richmond, Virginia What Would It Take to Make Affordable Seniors Housing a Reality? Greystone Acquires 13-Property Rosewood Care Centers Portfolio in Midwest Here’s a Three-Phase Plan to Rebuild Your Occupancy During COVID-19 Era Engel Burman Opens Encore Luxury Living on Long Island The SHB Interview: Charles Trefzger, President & CEO, Affinity Living Group Company …

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AcquisitionsAssisted LivingFinanceNew JerseyNews

Cushman & Wakefield Arranges Acquisition Financing for Three-Property Portfolio in New Jersey

by Jeff Shaw

CHERRY HILL, VOORHEES and STAFFORD TOWNSHIP, N.J. — Cushman & Wakefield’s Senior Housing Capital Markets team has arranged an undisclosed amount of financing for the acquisition of three seniors housing communities in New Jersey. The borrower is a joint venture between Harrison Street and LCB Senior Living. The communities, all under the Atria brand, total 263 units of assisted living and memory care. Two properties are located in the Philadelphia suburbs of Cherry Hill and Voorhees, while the third is in Stafford Township near the Jersey Shore. Cushman & Wakefield …

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Assisted LivingDevelopmentIllinoisNews

Premier Senior Living Announces Plans for Revela of O’Fallon Near St. Louis

by Jeff Shaw

O’FALLON, Ill. — Premier Senior Living has unveiled plans to bring its new Revela brand to the St. Louis, Missouri, suburb of O’Fallon. Revela of O’Fallon will feature 60 units of assisted living and 32 units of memory care in an 89,000-square-foot building. Groundbreaking is scheduled for February 2021, for completion in April 2022. Revela of O’Fallon will anchor new development on the eastern edge of O’Fallon as part of a 26-acre, mixed-use project featuring office and residential uses. “This project already addresses a goal frequently discussed within our 2040 …

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DevelopmentFinanceGeorgiaNews

Live Oak Funds $13M Construction Loan for Phoenix Senior Living Project in Dallas, Georgia

by Jeff Shaw

DALLAS, Ga. — Live Oak Bank has provided a $13 million loan for the construction of The Phoenix at Dallas, located approximately 30 miles northwest of Atlanta. Phoenix Senior Living is developing the 56-unit independent living project, which will consist of 14 quadplex cottages. The Phoenix at Dallas is Phase II of a three-phase campus build-out. The cottages, walking trails, pool, and cabana, will be built across a 15-acre parcel adjacent to the Pearl at Dallas, a memory care community also operated by Phoenix Senior Living. Ten additional acres of …

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IndianaMichiganNewsOhioOperationsTennessee

Rose Senior Living Selects Life Care Services to Manage Six Communities in the Midwest

by Jeff Shaw

BLOOMFIELD HILLS, Mich. — Rose Senior Living, a Bloomfield Hills-based owner, has selected Life Care Services to operate Rose’s entire portfolio of seniors housing communities. The portfolio includes: Heritage at Irene Woods, Memphis, Tennessee; Rose Senior Living and Rose Villas, Avon, Ohio; Rose Senior Living, Beachwood, Ohio; Rose Senior Living, Carmel, Indiana; Rose Senior Living, Clinton Township, Michigan; and Rose Senior Living at Providence Park, Novi, Michigan. Included in the agreement is management of a seventh community, Rose Senior Living, Farmington Hills, Michigan, which is scheduled for groundbreaking in 2021.

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DevelopmentFeaturesNews

InterFace Panel: Development Pushes Forward Despite Many COVID Delays

by Jeff Shaw

Seniors housing construction has continued during the COVID-19 pandemic — but perhaps not on the developers’ original timelines. “We have seen just about every obstacle thrown at us, from government shutdowns to disruptions in the supply chain to subcontractors contracting COVID to inspectors not showing up,” said Charlie Jennings, chief development officer, Harbor Retirement Associates. “Every time I start to think the worst is behind us, there’s something waiting around the corner. Unfortunately, I don’t think we’ve gotten past that hump yet.” Harbor’s current seniors project under construction is now …

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FeaturesNews

Occupancy Hits New Record Low in Fourth Quarter, Says NIC

by Jeff Shaw

ANNAPOLIS, Md. — Private-pay seniors housing occupancy in the United States decreased 130 basis points in the fourth quarter of 2020 from 82.0 percent to 80.7 percent, a record low. Since the first quarter of 2020, occupancy fell by 680 basis percentage points. That’s according to new data from the National Investment Center for Seniors Housing & Care (NIC), an Annapolis-based nonprofit firm that tracks industry data gathered from 31 primary metropolitan markets. Private-pay seniors housing comprises independent living, assisted living and memory care. “Seniors housing occupancy declines were less pronounced …

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Assisted LivingConnecticutDevelopmentFinanceNews

Live Oak Funds $24.9M Construction Loan for Community in Brookfield, Connecticut

by Jeff Shaw

BROOKFIELD, Conn. — Live Oak Bank has provided a $24.9 million loan for the construction of an assisted living and memory care community in Brookfield, approximately midway between Hartford and New York City. Columbia Pacific Real Estate Fund III is the borrower. Situated on 4.1 acres, the community will feature 91 assisted living units and 36 memory care units in a 105,000-square-foot building. Leisure Care will be the operator upon opening.

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