Friday, November 29, 2024
Read the Magazine Subscribe

News

AcquisitionsAssisted LivingNewsSkilled NursingTexas

Blueprint Negotiates Sale of 78-Unit Community in Katy, Texas

by Jeff Shaw

KATY, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of an assisted living and skilled nursing facility in Katy, a suburb of Houston. Opened in 2018, the facility consists of 70 short-term rehab beds and 34 assisted living beds across 78 units. The community maintained a steady lease-up trajectory that was quickly halted due to industry-wide COVID headwinds that caused statewide decreases in elective surgeries. With a minimal amount of dually certified beds, the seller struggled to turn a profit, according to Blueprint. The seller was a …

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentMichiganNews

Cherry Health, Woda Cooper Plan 56-Unit Shea Ravines Affordable Community in Wyoming, Michigan

by Jeff Shaw

WYOMING, Mich. — Woda Cooper Cos. and Cherry Health have received tax credits from the Michigan State Housing Development Authority for development of Shea Ravines, a 56-unit affordable housing community in the Grand Rapids suburb of Wyoming. The $18.2 million project includes 20 permanent supportive housing (PSH) units for the formerly homeless. The site is adjacent to Cherry Health’s Wyoming Community Health Center. The development will provide one-bedroom and two-bedroom apartments for singles, families, and seniors who earn up to 80 percent of area median income The project is targeting …

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceNews

Forbright Bank Provides $50M in Financing for Four Seniors Housing Properties

by Jeff Shaw

CHEVY CHASE, Md. — Forbright Bank’s healthcare lending team closed three new loans in the first quarter of 2024. The loans helped finance the acquisition of two assisted living and two skilled-nursing facilities in the Southeast and Midwest. In total, more than $50 million of bridge and bridge-to-HUD lending financed about 500 beds for seniors across the four facilities. Further details were not disclosed.

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentMassachusettsNews

Wingate Living to Develop 69-Unit Project in Needham, Massachusetts

by Jeff Shaw

NEEDHAM, Mass. — Regional owner-operator Wingate Living has announced plans to develop a 69-unit seniors housing project in Needham, a western suburb of Boston.  One Wingate Way East will offer one- and two-bedroom units with more than a dozen different floor plans.  Construction is expected to begin before the end of the year. The type of care was not disclosed.

Continue Reading
0 FacebookTwitterLinkedinEmail
NewsOperationsPeople

Spring Arbor Promotes Jennifer Earp to Director of Operations 

by Jeff Shaw

RALEIGH, N.C. — Spring Arbor Senior Living, a Raleigh-based operator of assisted living and memory care communities in 10 states across the Mid-Atlantic, Southeast and Midwest, has promoted Jennifer Earp to director of operations. Earp has worked for Spring Arbor for the past three years and most recently served as the executive director of Spring Arbor of Cary. She began her career in senior living and care in 2008. In her expanded role, Earp will support the Spring Arbor assisted living communities in Maryland with operational leadership. She will also …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsNevadaNews

Bascom Ground Acquires Homestead at Boulder City in Nevada for $3M

by Jeff Shaw

BOULDER CITY, Nev. — The Bascom Group LLC has acquired Homestead at Boulder City, a seniors housing community in the Las Vegas suburb of Boulder City, for $3 million.  Homestead is a single-story building constructed in 1999. It features 72 units of seniors housing. Vincent Punzi and Lowell Takahashi of Berkadia arranged the debt financing for the acquisition, with Kairos Investment Management Co. as the lender. Brad Goodsell, Vince Viverito, Jason Punzel and Brad Clousing of Senior Living Investment Brokerage (SLIB) represented the undisclosed seller. Apartment Management Consultants will provide property …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsNewsSkilled NursingTennessee

Blueprint Brokers Sale of 81-Bed Skilled Nursing Facility in Madisonville, Tennessee

by Jeff Shaw

MADISONVILLE, Tenn. — Blueprint Healthcare Real Estate Advisors has arranged the sale of an 81-bed skilled nursing facility in Madisonville, located between Knoxville and Chattanooga. The seller was The Trousdale Foundation, a nonprofit owner through Trousdale Living Communities. The buyer was a New York-based provider. Although the price was not disclosed, the per-bed price of $150,000 equates to approximately $12 million. Constructed in 1982, the asset is located on four acres approximately 10 miles south of Sweetwater Hospital. As the only licensed provider in the city, the high-quality facility generated …

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceNewsPeople

Juniper Communities Promotes Stephanie Pressler to Controller

by Jeff Shaw

BLOOMFIELD, N.J. — Juniper Communities, a Bloomfield-based provider of senior living communities, has promoted Stephanie Pressler to controller. Pressler joined Juniper Communities in 2016, when the company acquired its Bensalem, Pennsylvania campus, Juniper Village at Bucks County. As a member of Juniper’s internal provider relief fund team, Pressler helped steer the company through the COVID-19 pandemic, assisting in the application for relief funding. She is responsible for monthly and annual financial reporting, budgets and annual audits.

Continue Reading
0 FacebookTwitterLinkedinEmail
CCRCDevelopmentNewsOregon

Terwilliger Plaza CCRC in Portland, Oregon Completes $105M Expansion Project

by Jeff Shaw

PORTLAND, Ore. — Terwilliger Plaza, a single-site, nonprofit continuing care retirement community (CCRC) in Portland, has completed a $105 million expansion. The new building, named Parkview, rises 10 stories and offers 127 independent living units. It represents the largest building constructed to Passive House sustainability standards on the West Coast, according to the developers. The 370,000-square-foot structure is connected to the main campus via a steel skybridge. Terwilliger Plaza can now house up to 550 residents. LRS Architects worked in collaboration with Walsh Construction Co., engineering firm PAE, and Terwilliger …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsNewsNorth DakotaWisconsin

Meridian Arranges Sale of Three-Property, 428-Unit Portfolio in Wisconsin, North Dakota 

by Jeff Shaw

WISCONSIN and NORTH DAKOTA — Meridian Capital Group’s senior housing and healthcare team has negotiated the sale of a three-property senior living portfolio in Wisconsin and North Dakota. The seller was Harrison Street. The buyer and price were not disclosed. New Perspective Senior Living will continue to operate the properties. The three assets offer a combined 146 independent living units, 139 assisted living units and 143 memory care bed. Ari Adlerstein, Josh Simpson and Jesse Rauch led the Meridian team.

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts