SAN ANTONIO — Cushman & Wakefield has arranged an undisclosed amount of financing for Franklin Park Alamo Heights, a seniors housing community in the upscale Alamo Heights neighborhood of San Antonio. The borrowers were Harrison Street and Franklin Park Senior Living, which completed the 221-unit property in 2017. The community offers independent living, assisted living and memory care. The Cushman & Wakefield team involved in the financing included Richard Swartz, Jay Wagner, Jim Dooley and Jack Griffin. A regional bank provided the funds, which refinance existing debt.
News
Delaware County Housing Authority to Add 96 Affordable Units at Kinder Park Community Near Philadelphia
by Jeff Shaw
RIDLEY TOWNSHIP, Pa. — Pennrose, the Delaware County Housing Authority (DCHA), The County of Delaware and the Pennsylvania Housing Finance Agency (PHFA) have closed on financing for the final phase of the Kinder Park redevelopment in Ridley Township, near the Philadelphia International Airport. Phase IV will add 96 units of affordable seniors housing to the Kinder Park site, which already features 160 existing affordable apartments for seniors and individuals with disabilities, 154 townhomes, a community building and several community parks. The final phase is slated for completion in the spring …
FREDERICK, Md. — Love & Company, a Frederick-based marketing and consulting firm serving senior living providers, has hired Lauren Houlik as a senior research analyst. Houlik comes to Love & Company with recent leadership and consulting roles in market research. She has provided various senior living providers with data and insights to make well-informed decisions for their unique market areas. She also has a background in healthcare administration and population health management. Houlik will work alongside Karen Adams, Love & Company’s vice president of market intelligence.
BROOKHAVEN, N.Y. — HJ Sims has arranged $89 million in financing for an expansion project at Jefferson’s Ferry, a continuing care retirement community (CCRC) in the Long Island town of Brookhaven. Sims underwrote the initial construction bond financing in 1999 for Jefferson’s Ferry, followed by a refunding of this financing in 2006. The new funds will be used toward Jefferson’s Ferry’s Journey Toward Renewal project, an improvement and expansion of the residential and healthcare space. The project includes construction of a 20-unit building dedicated to assisted living residents with dementia, …
CEDARHURST, N.Y. — Oxford Finance LLC has provided a $7.4 million senior credit facility and revolving line of credit to Reach LTC, a Cedarhurst-based skilled nursing provider. The proceeds are being used for general working capital and the acquisition of a skilled nursing facility in Town and Country, Missouri, totaling 282 licensed beds. The name, seller and acquisition price were not disclosed. “REACH brings a regional focus to the Town and Country facility along with significant investment in the property expected to enhance resident experiences and staff capabilities,” says Tracy …
NEW JERSEY — Blueprint Healthcare Real Estate Advisors has arranged the sale of two assisted living communities in New Jersey. The properties each feature 39 units and are located 45 miles away from each other. A New Jersey-based owner-operator looking to expand acquired the properties as a value-add opportunity. The seller, price, names and specific locations were not disclosed.
KANSAS CITY, Mo. – GlynnDevins, a Kansas City-based marketing technology firm focused on seniors housing, has named Krystal Montague as its chief transformation officer. Montague will oversee and support the company’s integration of acquisitions and new processes. “We understand that as a leader we must maintain a progressive approach to evolve the products and services we deliver to our clients,” says Chris Egan, GlynnDevins’ chief executive officer. “We are growing both organically and through acquisitions.” Montague brings nearly 20 years of operational and marketing experience to GlynnDevins. Most recently, she …
SilverPoint, Journey Capital Break Ground on 95-Unit Edition Senior Living in Saginaw, Texas
by Jeff Shaw
SAGINAW, Texas — SilverPoint Senior Living, a senior living management company, and Journey Capital, a seniors housing development company, have broken ground on Edition Senior Living in Saginaw, less than 10 miles north of Forth Worth. The property will feature 22 independent living cottages, 54 assisted living units and 19 memory care units on a 6.1-acre site. According to the developers, it will be the first assisted living and memory care community in Saginaw. This marks the fourth collaboration and partnership between SilverPoint and Journey Capital.
B’nai B’rith Housing Completes Second Phase of The Coolidge at Sudbury Affordable Community in Massachusetts
by Jeff Shaw
SUDBURY, Mass. — B’nai B’rith Housing has completed Phase II of construction at The Coolidge of Sudbury, an affordable housing community for seniors in Sudbury, located midway between Boston and Worcester. The project added 56 new units to the project, bringing the total number of units to 120. The rental apartments have one bedroom and are between 675 and 700 square feet. The new building includes common space and amenities, including a meeting room, library, fitness center and offices for a property manager and a resident service coordinator. Prior to …
IRVINE, Calif. — Sabra Health Care REIT Inc. (NASDAQ: SBRA) has appointed Clifton J. Porter II to its board of directors. Porter currently serves as senior vice president of the American Healthcare Association/National Center for Assisted Living (AHCA/NCAL), where he is responsible for leading and executing the association’s policy and legislative agenda impacting both the skilled nursing and assisted living sectors. Porter has over 31 years of experience in the long-term care profession, starting in operations as an administrator in training in 1989, ultimately leading to the oversight of multiple …