GREENVILLE, S.C. — Frampton Construction Co. has completed work on The Blake at Hollingsworth Park. The 86,000-square foot assisted living and memory care facility is in the Hollingsworth Park area of Verdae, a larger master-planned community in Greenville. The property features 68 assisted living and 33 memory care suites. Cardinal Ventures is the developer of the community. Young, Wier + Boerner Architecture completed the design for the building, and Hoyt + Berenyi was civil engineer for the project. This is Frampton’s fifth Blake-branded assisted living project.
News
CARLSBAD, Calif. — Integral Senior Living (ISL), a Carlsbad-based operator, has named Shelley Speer as its new regional director of sales and marketing. Speer comes to ISL with more than 20 years of experience in the senior living industry, and has spent many of those years in management or marketing positions. In her most recent position as a regional manager for the northwest and north California region at A Place for Mom, she was responsible for talent development, coaching and managing a sales team of 19 advisors. In her new …
Ziegler Arranges $81.4M Refinancing for Rockwood Retirement Communities in Spokane, Washington
by Jeff Shaw
SPOKANE, Wash. — Ziegler has placed $81.4 million in bond financing through the Washington State Housing Finance Commission on behalf of Spokane United Methodist Homes. The borrower is the nonprofit operator of Rockwood Retirement Communities, which consists of two continuing care retirement communities (CCRCs) in Spokane — Rockwood South Hill and Rockwood at Whitworth. The communities have a combined 600 residents. The tax-exempt, fixed-rate bonds amortize over 35 years, wrapping around existing indebtedness to result in level aggregate annual debt service. Bond proceeds will be applied toward Phase II construction …
WinnCompanies Opens $21.5M High School Redevelopment Project in East Haven, Connecticut
by Jeff Shaw
EAST HAVEN, Conn. — WinnCompanies has opened The Tyler, a mixed-income apartment community for seniors in East Haven, a suburb of New Haven. The project, a redevelopment of the 84-year-old former East Haven High School building, will be the first historic adaptive reuse project in the United States to meet the industry’s strictest standards for energy performance, according to WinnCompanies. The three-story property, 104,871-square-foot property features 70 apartments for individuals age 55 and older. The property was recently named as the nation’s Best Overall Development and Green Building of the …
WALNUT CREEK, Calif. — Sequoia Living has re-opened the preview center at Viamonte at Walnut Creek as the continuing care retirement community (CCRC) nears completion. First move-ins are scheduled to start in a few weeks at the 200-unit community. Construction began three years ago. The property is located in Walnut Creek in the San Francisco Bay Area.
Joint Venture Breaks Ground on $86M Lake Anne House Affordable Community in Northern Virginia
by Jeff Shaw
RESTON, Va. — A joint venture between Enterprise Community Development (ECD) and Fellowship Square Foundation has broken ground on Lake Anne House, an $86 million affordable seniors housing community in Reston. The property will offer 240 units, with floor plans ranging from studio to two-bedroom layouts. The units will be available to seniors who earn at or below 60 percent of the area median income (AMI). Each resident will pay no more than 30 percent of his or her income toward housing costs, including rent and a utility allowance. The …
HJ Sims Arranges $107.4M Bond Financing for Presbyterian Retirement Communities in Florida
by Jeff Shaw
ST. AUGUSTINE, Fla. — HJ Sims has arranged $107.4 million in bond financing for Presbyterian Retirement Communities (PRC) and its affiliates, a group of 10 continuing care retirement communities (CCRCs) located throughout Florida. PRC acquired Westminster St. Augustine (then known as Glenmoor) out of bankruptcy in October 2017. The company instituted a turnaround program and was seeking a refinance of existing bonds to fund upcoming capital projects. Sims structured long-term taxable and tax-exempt bonds around the existing debt service, achieving a blended true interest cost of 3.87 percent and successfully …
KEY WEST, Fla. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Key West Health & Rehabilitation, a 120-bed skilled nursing facility in Key West. The property is located adjacent to the Lower Keys Medical Center, which holds the ground lease for the skilled nursing facility. There is also an existing HUD mortgage on the property. Blueprint represented the seller, a nonprofit debtor undergoing bankruptcy proceedings. Although the price was not disclosed, the winning bidder acquired the property free and clear of existing debt.
Blake Management Group Promotes Morgan Walter to Area Director of Operations in Mississippi
by Jeff Shaw
JACKSON, Miss. — Blake Management Group (BMG), a Jackson-based operator, has promoted Morgan Walter to area director of operations in Mississippi. Walter was formerly the executive director at The Blake at Oxford, one of the company’s communities. In her new position she will supervise and oversee operations across all four Blake locations in the state: The Blake at Oxford, The Blake at Flowood, The Blake at Township and The Claiborne at Adelaide. Walter will direct the four Mississippi Blake locations in strategic growth initiatives, daily operations and the development and …
LONDONDERRY, N.H. — Edgewood Senior Solutions Group has acquired land in Londonderry’s Woodmont Commons, where the group plans to build senior living community called The Baldwin. Project plans call for 190 independent living apartments. Several of the community’s amenities, including a spa and salon, a convenience store and multiple dining venues, will be open to the public. “Our location in Woodmont Commons — and the mixed-use aspect being built into The Baldwin — adds a valuable intergenerational dimension you don’t find in most senior living communities,” says Marlene Rotering, CEO …