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Lifespace Communities Appoints Srini Alagarsamy as Chief Technology Officer, Natallia Futrell as Chief Clinical Officer

by Jeff Shaw

DALLAS — Lifespace Communities, a Dallas-based owner-operator, has named Srini Alagarsamy as chief technology officer and Natallia Futrell as chief clinical officer. Alagarsamy, who reports to Lifespace Communities president and CEO Jesse Jantzen, brings over two decades of experience in leading digital transformations for Fortune 100 companies, including General Motors Financial, Sallie Mae, and Cigna. At Lifespace, he will steer the strategic innovation and long-term technological vision, handling infrastructure, cybersecurity, software applications, and data and analytics. Futrell reports to Lifespace Communities chief operating officer Brian Robbins and will guide the …

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Company NewsNewsTechnology

HealthSignals Secures Telehealth Agreement with Premier Inc.

by Jeff Shaw

KING OF PRUSSIA, Pa. — HealthSignals, a King of Prussia-based tech company, has signed a national group purchasing agreement for telehealth with Premier Inc.  The agreement allows Premier members to benefit from specially negotiated pricing and terms for Wi-Fi, cellular boost, dedicated internet access, fixed wireless and other telecommunications services, improving wireless infrastructure and facilitating telehealth and telemedicine applications.

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CCRCDevelopmentNewsWashington

Emerald Communities Completes $63M Expansion at Emerald Heights in Redmond, Washington

by Jeff Shaw

REDMOND, Wash. — Emerald Communities has completed a $63 million expansion project at Emerald Heights, a continuing care retirement community in Redmond, a suburb east of Seattle. The Courtyard building concept was first introduced in 2017 and construction began in September 2022. Emerald Heights is welcoming 34 residents to their new homes this week and eight units are still available. The three-level Courtyard building offers six apartment designs including one-bedroom, one-bedroom with a den, two-bedroom and two-bedroom with a den that range in size from 826 to 1,764 square feet. …

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AcquisitionsAssisted LivingNewsTexas

CBRE Negotiates Sale of Four-Property Portfolio in Metro Dallas

by Jeff Shaw

DALLAS — CBRE has negotiated the sale of four senior housing communities in the Dallas MSA.  The portfolio — rebranded as Village on the Park Plano, Village on the Park Denton, Village on the Park Stonebridge Ranch, and Village on the Park McKinney — comprises 366 units of assisted living and memory. The properties were all built between 2014 and 2017.  The buyer is a joint venture between Artemis Real Estate Partners and Bridgewood Property Company. The Aspenwood Company, Bridgewood’s affiliate property manager, is operating the communities. The seller and …

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FinanceIllinoisNews

Greystone Monticello Arranges $16.7M Bridge Financing for Seniors Housing Acquisition in Illinois

by Jeff Shaw

ILLINOIS — Greystone Monticello has arranged a $16.7 million bridge loan for the acquisition of a seniors housing property in Illinois.  The property comprises independent living, assisted living and memory care units.  The bridge financing carries a two-year term with two six-month extensions. Karina Davydov originated the loan.

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AcquisitionsAssisted LivingIndianaNews

Blueprint Brokers Sale of Two-Property Portfolio in Northwest Indiana

by Jeff Shaw

MICHIGAN CITY and MERRILLVILLE, Ind. — Blueprint Healthcare Real Estate Advisors has arranged the sale of two communities in Indiana.  The two assisted living and memory care communities are located in Michigan City and Merrillville, both located on the south shore of Lake Michigan southeast of Chicago. The portfolio totals 119 units. Blueprint positioned the portfolio as a value-add opportunity for an incoming buyer to capitalize on strong pre-pandemic financial performance along with substantial Medicaid Waiver reimbursement rate enhancements that were passed in July of 2023. The buyer, seller and price were …

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ColoradoDevelopmentNews

MorningStar Senior Living Opens 160-Unit Community in Centennial, Colorado

by Jeff Shaw

CENTENNIAL, Colo. — MorningStar Senior Living and Edgemark Development have opened MorningStar at Holly Park, a 160-unit seniors housing property in Centennial, a suburb southeast of Denver. Situated on three acres, MorningStar at Holly Park offers 85 independent living, 50 assisted living and 25 memory care units in a four-story residential building. The project team includes Rosemann & Associates as architect, JHL Constructors as general contractor and Thoma-Holec Design as interior designer. MorningStar and Edgemark co-developed and co-own the community.

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Active AdultDevelopmentMissouriNews

Midas Construction Underway on $37.8M Viva Bene Active Adult Community in St. Peters, Missouri

by Jeff Shaw

ST. PETERS, Mo. — Midas Construction is underway on Viva Bene, a $37.8 million active adult community in the St. Louis suburb of St. Peters.  Developed by Avenue, the 161-unit luxury property is located at 101 Viva Bene Circle.  Greystar is the property manager. Completion is slated for this fall.

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FinanceNewsWashington

Northmarq Originates $35M Refinancing for Senior Living Community in Gig Harbor, Washington

by Jeff Shaw

GIG HARBOR, Wash. — Northmarq has arranged $35 million in refinancing for The Lodge at Mallard’s Landing, a seniors housing property in Gig Harbor, across the Puget Sound from Tacoma.  The Lodge at Mallard’s Landing offers 147 private-pay independent living, assisted living and memory care units. Stuart Oswald of Northmarq’s Seattle office arranged the six-year, fixed-rate loan through a correspondent life insurance company. The financing features an earn-out component allowing the borrower to draw additional dollars as NOI improves. Built in two phases from 2010 to 2015, the development consists …

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Active AdultDevelopmentFinanceMinnesotaNews

Colliers Mortgage Provides $20.9M HUD Loan for Construction of Seniors Housing Community in Minnesota

by Jeff Shaw

MAPLEWOOD, Minn. — Colliers Mortgage has provided a $20.9 million HUD loan for the construction of The American Cooperative on Lake Phalen in Maplewood, an eastern suburb of the Twin Cities.  The 56-unit cooperative is designed for residents age 62 and older. The property will be built on the north shore of Lake Phalen between Keller and Phalen regional parks and golf courses. Units will range from 1,200 to 1,900 square feet. The loan features a 40-year term and amortization.

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