JASPER, Ga. — Construction has begun on The Lodge at Stephens Lake, a seniors housing community in Jasper, a small city in the North Georgia Mountains. The developer was not disclosed. The community is slated to open in spring 2022. When completed, the it will feature 70 independent living cottages as well as 86 apartments for assisted living and memory care. The active adult section of the community, Grandview at Gateway, features 106 homes for sale and a 4,000-square-foot clubhouse. Residents will begin to move into the homes by the …
LITTLE ROCK, Ark. — Twain Financial Partners has provided $11 million in ground lease capital to The Summit, a senior living community in Little Rock. O’Reilly Development Co. is developing the property, which will feature 96 independent living units, 44 assisted living units and 18 memory care units. O’Reilly is a real estate investment and development firm specializing in historic preservation, seniors housing, affordable housing, multifamily and student housing communities.
HICKSVILLE, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Hickory Creek at Hicksville, a 61-bed skilled nursing facility in Hicksville, located just across the state border from Fort Wayne, Indiana. The property was built in 1966 and features mostly semi-private rooms Representing the non-profit regional operator’s only location in the state, the REIT landlord and its tenant sought an exit. The buyer and price were not disclosed.
CAMBRIDGE, Mass. — MassDevelopment has issued $18.7 million in tax-exempt bond financing for Cambridge Housing Authority’s acquisition and renovation of Harry S. Truman Apartments, a 59-unit affordable seniors housing community in Cambridge. In addition to the tax-exempt bond financing, MassDevelopment assisted the Massachusetts Department of Housing and Community Development with the approval of federal low-income housing tax credits, which will provide approximately $13.8 million in equity for the project. Boston Private Bank purchased the bonds. Located across the Charles River from Boston, Harry S. Truman Apartments is part of the …
SEATTLE — Merrill Gardens, a Seattle-based owner-operator has launched a new brand aimed at middle-market seniors named Truewood by Merrill. As the roll out continues over the coming months there will be 23 Truewood communities located in 13 states. The Truewood by Merrill communities are former Blue Harbor communities that Merrill purchased in 2019 in a joint venture with ReNew REIT. The main changes in the communities are in operations, with the new brand designed for seniors whose annual income ranges from $40,000 to $50,000. Monthly rental rates for Truewood …
NEW YORK CITY — Dwight Capital, a New York-based real estate finance and investment firm, provided $121.6 million in healthcare financings during first-quarter 2021. Dwight closed a $21.3 million HUD loan for Avantara Long Grove, a 195-bed skilled nursing facility located in Long Grove, Illinois. The property was renovated in 2016. Adam Offman originated this transaction. Offman and Adam Sasouness also originated a $20.2 million HUD loan for the Northwood Portfolio, a 332-bed, six-asset skilled nursing portfolio located across Ohio. The transaction refinances debt on Northwood Buckeye Terrace, Country Meadow …
SCOTTSDALE, Ariz. — Cadence Living, a Scottsdale-based operator, has hired Randi Cohen as vice president of media and marketing. Cohen will have principal responsibility for all media and marketing strategy of Cadence’s growing portfolio of senior living communities. Cohen brings over 20 years of marketing experience with the last seven years devoted to healthcare and senior living. Her expertise includes brand strategy and creating growth through omni-channel marketing. Before joining Cadence, Cohen worked at Pasadena, California-based Regency Park Senior Living where she was responsible for all aspects of the company’s …
WASHINGTON, D.C. — The Department of Housing and Community Development (DHCD) has provided financing from local and federal resources to develop 54 affordable housing units in Ward 4 at the Abrams Hall Senior Apartments in Washington, D.C. Abrams Hall Senior LP, a joint venture between Urban Atlantic and nonprofit organization Housing Up, received $2.4 million from the District’s Housing Production Trust Fund (HPTF) to develop the assisted living facility. The project also received a $1.1 million allocation of 9 percent Low-Income Housing Tax Credits (LIHTC) from DHCD. The project will …
LEANDER, Texas — True Connection Communities (TCC) has expanded its operating platform with the addition of Skye Luxury Senior Living, a 156-apartment independent living community in Leander, a northwestern suburb of Austin. A value-add opportunity, TCC plans to upgrade the nearly four-year-old community by improving design elements in select apartments, modifying the dining room to accommodate more dining tables, and enhancing the pool deck to create a more inviting space for residents. The community will be rebranded as Verena at Leander. True Connection Communities operates a portfolio of 13 active …
DALLAS — Buckner Retirement Services, a Dallas-based nonprofit operator, is implementing a series of leadership promotions as part of a long-term strategic plan. The first was for Charlie Wilson, who was promoted from senior vice president to president. Wilson started at Buckner 21 years ago as the director of quality improvement and regulatory compliance. Under his leadership, the nonprofit provider doubled in size, opening two new communities and acquiring a third. Albert Reyes, president/CEO of the parent company Buckner International, retains the chief executive officer role for the retirement division. …