SCOTTSDALE, Ariz. — Cadence Living has hired Pat Teske as vice president of facilities management. Teske will have principal responsibility for preventative maintenance, director management, renovation planning and plant management of Cadence’s portfolio of senior living communities. He joins Cadence after a career as a business owner in the fields of mechanical engineering and agriculture. “Individuals that have been leaders of their own business are the kind of talent Cadence looks to attract,” says Eric Gruber, principal with Cadence. “We are looking forward to Pat bringing his management skills in …
TAMPA, Fla. — Foundry Commercial has hired Jimmy Yu as vice president of senior living. Yu is based in the firm’s Tampa office, which itself is experiencing exponential growth, with the additional appointments of a market leader and office broker in the past six months. In his role with Foundry, Yu manages the platform’s senior living investments, serving as the primary contact for operating and equity partners while assisting in acquisitions and due diligence. Yu has a long history in the senior living sector, having previously worked with national owners …
WATERTOWN, Mass. — Newmark has arranged an undisclosed amount of financing for the acquisition of The Residence at Watertown Square, a 90-apartment senior living community located in the high-end Boston suburb of Watertown. Developed in 2014, the community features 19 independent living units, 46 assisted living units and 25 memory care units. Newmark’s Sarah Anderson, Ryan Maconachy, Chad Lavender, Ross Sanders and David Fasano represented the buyer, a joint venture partnership between Harrison Street Real Estate Capital and LCB Senior Living (LCB), in the placement of financing for the property. …
BONITA SPRINGS, Fla. — Discovery Senior Living has acquired a portfolio of 16 seniors housing properties in Texas, North Carolina and New Mexico, the largest single acquisition in the Bonita Springs-based owner-operator’s history. Discovery’s partner on the acquisition was White Oak Healthcare REIT. The seller and names of the communities were not disclosed. As part of the purchase, Discovery launched a new brand — Morada Senior Living. Based in Dallas and wholly owned by Discovery, Morada will oversee the new portfolio with a dedicated management team led by a division …
PLAINVIEW, N.Y. — Chelsea Living has opened The Residences at Plainview, an active adult community in the Long Island hamlet of Plainview. The community features newly renovated studio, one-bedroom and two-bedroom apartments with full kitchens, a custom wellness program and a host of amenities reminiscent of a luxury hotel. Chelsea operates a full-service assisted living and memory care community, Somerset Gardens, in Plainview less than a mile from the new property. The number of units at the property was not disclosed.
ISSAQUAH, Wash. — Revel Communities, a division of The Wolff Co., has opened Revel Issaquah, a 146-unit independent living community in the Seattle suburb of Issaquah. As Revel’s third community in Washington State, the property is located less than 20 miles outside Seattle and just outside of downtown Issaquah across from Lake Sammamish, providing residents with easy access to art galleries, shopping and entertainment.
WHEATFIELD, N.Y. — Calamar Inc., an active adult owner-operator based in the Buffalo suburb of Wheatfield, has rebranded its entire portfolio under the new name of Connect55+. The existing portfolio of 40 communities will offer an extended and more comprehensive active lifestyle program. The current development pipeline, which spans 12 states, will debut under the new banner. This initiative is the launching point for Connect55+ growth strategy to add another 6,000 units to its portfolio within the next 36 months.
SCOTTSDALE, Ariz. — Cadence Living has hired Robyn Childs as vice president of marketing for the Mountain Region. Childs will have principal responsibility for marketing strategy for Cadence’s growing portfolio of senior living communities in the Mountain Region including Cadence’s six communities in Colorado, Utah and Idaho. Childs has over 13 years of experience in marketing and operations in senior living as well as holding several regional sales and marketing positions. Prior to joining Cadence, she held corporate or regional marketing roles with The Wolff Co., Koelsch Communities, MBK Senior …
CHARLESTON, S.C. — Frampton Construction Co. LLC, a full-service construction firm based in Charleston, has promoted Joey Smith, Phillip Marino, Alex Seglem and Leigh Anne Conto. Smith, who joined Frampton Construction in 2019 as director, has been named vice president. Smith leads the daily operations of the company’s Charlotte office with a focus on client relationships and project delivery. He is a graduate of the University of North Carolina (UNC) at Charlotte, where he now serves as an executive board member for the School of Construction Management and Engineering Technologies. …
ELKHART, Ind. — Greystone has provided a $23.8 million HUD-insured loan to refinance Hubbard Hill, a nonprofit continuing care retirement community (CCRC) in Elkhart, located near the Michigan border east of South Bend. The community recently expanded to 220 units of independent living, assisted living, memory care, skilled nursing and short-term rehabilitation on its 70-acre campus. Greystone’s Lisa Fischman originated the financing, which carries a 30-year term and fixed interest rate. The loan refinances a previous HUD loan, and represents $280,000 in annual savings.