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.
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 …
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 …
SAN DIEGO — Chelsea Investment Corp. and Sudberry Properties have opened Siena affordable apartments for seniors and Stylus affordable apartments for families in Civita urban village, located in the Mission Valley area of San Diego. The adjacent properties are located on Russell Park Way between Civita Boulevard and Friars Road. The $155 million project is one of the largest new affordable housing projects in San Diego County and brings the total of affordable apartments in Civita to 456. Civita is the redevelopment of a 79-year-old sand and gravel quarry into …
NEW BEDFORD, Mass. — WinnDevelopment has started redevelopment work to convert the remainder of the historic Cliftex Mill building in New Bedford, approximately 60 miles south of Boston, into 71 units of mixed-income housing for adults 55 and older. The adaptive reuse of the 114-year-old, five-story brick building will complete the residential development of Manomet Place, a 76-unit, age-restricted apartment community that WinnCompanies opened in a portion of the renovated mill in 2013. There are currently 170 applicants on the wait list for Manomet Place, which WinnResidential manages. “We first …
NEW YORK CITY — Monticello, a capital solutions provider based in New York, has named Ashish Shah to the position of managing director. Shah, who brings over 25 years of experience in healthcare and traditional real estate, will concentrate his efforts on business development, origination, and expanding and bolstering Monticello’s capital and risk management capabilities. Prior to Monticello, Shah co-led Formation Capital’s lending group with a primary focus on business development and capital markets/syndications. He was previously at Oxford Finance and GE Healthcare Financial Services in a variety of business …
SAN DIEGO, Calif. — Ryan cos. US Inc. has hired Patrick Dimaano as vice president of senior living development for its Western division. Dimaano is based in the company’s San Diego office and will lead senior living development for Ryan’s Southwest, West and Northwest regions. Bringing 13 years of sector and industry experience to the role, Dimaano will support the national growth of Ryan’s senior living portfolio by pursuing development opportunities, maintaining and growing relationships with key partners, and working hand-in-hand with operators. In his previous roles, Dimaano executed on …
DEARBORN, Mich. — Henry Ford Village has entered into a stalking horse asset purchase agreement with MED Healthcare Partners, in accordance with bid procedures approved by the U.S. Bankruptcy Court for the Eastern District of Michigan, Southern Division. Under the terms of the stalking horse agreement, MED would acquire substantially all the community’s assets for $69 million. Pending approval, MED will add the continuing care retirement community (CCRC) into its portfolio, which currently includes five CCRCs,150 skilled nursing facilities and 20 assisted living and memory care facilities across the country. …
WEST WHITELAND TOWNSHIP, Pa. — Capitol Seniors Housing has opened Arbor Terrace Exton, an assisted living and memory care community in West Whiteland Township, a suburb of Philadelphia. The 78,000-square-foot community totals 88 units across three interconnected neighborhoods. The site is located near major medical facilities, restaurants and shopping locations. Meyer Senior Living Studio designed the project, which IMC Construction built. The Arbor Company is the operator.
OVERLAND PARK, Kan. — Anthem Memory Care has named Dave Norton as the executive director of Morningside Place, a memory care community in Overland Park. He will oversee all care, operations and programming. Norton previously was administrator/executive director of nearby Rolling Hills Health & Rehab. His career includes two decades of managerial experience in the medical equipment and diagnostics fields. A graduate of the University of Kansas, Norton is a licensed respiratory therapist as well as a licensed nursing home administrator.
