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AcquisitionsCCRCConnecticutNewsOperations

Benchmark Assumes Management of Meadow Ridge CCRC in Redding, Connecticut

by Jeff Shaw

REDDING, Conn. — Benchmark Senior Living has become part owner and the operator of Meadow Ridge, a continuing care retirement community (CCRC) in Redding, approximately 55 miles northeast of Manhattan. Affiliates of Senior Care Development, the community’s original developers, will retain majority ownership. Set on 136 acres, Meadow Ridge is Connecticut’s largest retirement community offering independent living, assisted living, skilled nursing and rehabilitation on one campus. It opened in 2001 and features 415 apartment homes and employs more than 300 associates. Benchmark owns and operates 63 independent living, assisted living, …

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Sabra Health Care REIT Appoints Michael Costa as Chief Accounting Officer

by Jeff Shaw

IRVINE, Calif. — Sabra Health Care REIT Inc. (NASDAQ: SBRA), an investor based in Irvine, has appointed Michael Costa to the position of chief accounting officer. He has also been designated by the company’s Board of Directors as the principal accounting officer. Costa currently serves as Sabra’s executive vice president of finance, a position he has held since August 2017. Previously, he held various leadership positions overseeing Sabra’s accounting and finance functions since Sabra’s inception in November 2010. Costa has more than 15 years of experience in commercial real estate …

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Ascension Names Rafael Bloise as Chief Medical Officer of Senior Care

by Jeff Shaw

ST. LOUIS — Ascension, a St. Louis-based health system, has named Rafael Bloise as chief medical officer of senior care, including Ascension Living. In this role, Bloise will be responsible for the clinical direction and strategy across Ascension Living, as well as champion the implementation of a national palliative care strategy in partnership with each Ascension acute care market. Bloise comes to Ascension from Mercy Health West Michigan, where he served as the regional medical director of the Palliative and Support Care Program. Bloise is board certified in internal medicine, …

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Assisted LivingDevelopmentFinanceMassachusettsNews

Cushman & Wakefield Arranges $29.8M Construction Financing for Benchmark Community in Hanover, Massachusetts

by Jeff Shaw

HANOVER, Mass. — Cushman & Wakefield’s Senior Housing Capital Markets team has arranged a $29.8 million loan for the construction of Benchmark of Hanover, approximately 20 miles south of Boston. The borrower is a joint venture between Benchmark Senior Living and Iron Point Partners LLC. The property will feature 97 units of assisted living and memory care. The Cushman & Wakefield team involved in the transaction includes Rick Swartz, Jay Wagner, Sam Dylag, Jack Griffin and Joseph Carbone. “Hanover is a quintessential South Shore Boston suburb with excellent access to …

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DevelopmentMassachusettsMemory CareNews

Nauset, Anthemion Break Ground on 54-Unit Cordwainer Memory Care Community in Norwell, Massachusetts

by Jeff Shaw

NORWELL, Mass. — Nauset Construction and Anthemion Senior Lifestyles LLC have broken ground on The Cordwainer, a memory care community in Norwell, approximately 20 miles south of Boston. The community will feature 54 units in a 50,000-square-foot building. “The Town of Norwell is an ideal location for our expansion into the South Shore area,” says Tamilyn Liesenfeld, president and CEO at Anthemion Senior Lifestyles. “There is a strong demand for lifestyle communities for adults with Alzheimer’s and dementia who need personal supportive services that provide safe, independent living.” Designed by …

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Affordable HousingDevelopmentNewsTexas

Gardner Capital Breaks Ground on Gala at Central Park Affordable community in Hurst, Texas

by Jeff Shaw

HURST, Texas — Gardner Capital has broken ground on Gala at Central Park, an affordable seniors housing community in the Fort Worth suburb of Hurst. The 94-unit senior complex, with a mix of one- and two-bedroom apartments, will include a three-story residential building and a two-story clubhouse with a variety of resident amenities. Construction in slated for completion in early 2022. Treymore Construction will serve as general contractor for the project. Hurst Public Facility Corp. is the development partner, while NDC Corporate and Redstone are the financial partners for the …

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AcquisitionsNewsOhio

Grandbridge Negotiates $18M Sale of 200-Unit Community in Ohio

by Jeff Shaw

OHIO — Grandbridge Real Estate Capital’s Tampa-based Senior Housing Investment Sales team has arranged the $18 million sale of a senior living community in Ohio. The property features 200 units on a 20-acre plot. Further details on the community were not disclosed. The sales team led by Allen McMurtry, Dave Kliewer and Jay Jordan represented the seller to an all-cash buyer. The seller will continue to operate the community.

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Active AdultDevelopmentNewsTennessee

McShane to Build 138-Unit Avenida Hendersonville Near Nashville

by Jeff Shaw

HENDERSONVILLE, Tenn. — Avenida Partners has selected McShane Construction Co. to build Avenida Hendersonville, a 138-unit active adult community in the Nashville suburb of Hendersonville. The three-story building will be positioned on a five-acre site. The community will offer 6,000 square feet of amenities. Completion of Avenida Hendersonville is slated for May 2022. This will be Avenida’s third active adult community in Tennessee. The architect of record is Poole & Poole Architecture.

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DevelopmentNewsTexas

Civitas, StoneCreek Plan 104-Unit Redevelopment Project in Houston

by Jeff Shaw

HOUSTON — Civitas Senior Living, a senior living operator, and StoneCreek Real Estate Partners, a seniors housing developer, have announced plans for StoneCreek of Copperfield in Houston. The project will be a redevelopment of the Copperfield Racquet and Health Club, a longtime landmark of Northwest Houston for more than 30 years. The 98,000-square-foot community will be situated on 6.6 acres featuring 12 independent living villas as well as 74 assisted living and 18 memory care units. Other project partners include Pi Architects and interior design firm Senior By Design. Ground-up …

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