TAMPA, Fla. — Ziegler has arranged $70 million in bond financing for Tampa Life Plan Village to expand by acquiring the independent living units of University Village, a nearby continuing care retirement community (CCRC). The acquisition will include 445 independent living apartments, 46 independent living villas, the associated common areas and 32 acres of land. The health center, which features assisted living and skilled nursing units, was not included in the transaction. The seller is Westport Holdings Tampa. The United States Bankruptcy Court for the Middle District of Florida and …
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Pennrose Receives Tax Credits to Expand Stoneridge Villas Affordable Community in Huntsville, Alabama
by Jeff Shaw
HUNTSVILLE, Ala. — Pennrose and the Huntsville Housing Authority (HHA) have been awarded low-income housing tax credits from the Alabama Housing Finance Authority for the Phase II expansion of Stoneridge Villas in Huntsville. The project will add 65 units to the affordable seniors housing community, bringing Stoneridge Villas to a total of 145 apartments. Five of the new units will be wheelchair accessible and two will be outfitted for residents with hearing or vision impairments. Envolve Client Services operates the community. HHA and Pennrose previously partnered on Stoneridge Villas Phase …
ORANGE and TEXAS CITY, Texas — SLP Operations LLC has taken over management of Pinehurst Nursing and Rehabilitation Center in Orange and Seabreeze Nursing and Rehabilitation Center in Texas City. Pinehurst Nursing and Rehabilitation Center is a 111-bed skilled nursing facility, while Seabreeze Nursing and Rehabilitation Center features 107 beds. Both centers offer skilled nursing, physical therapy, post-acute care, long-term care, rehabilitation services, respite care and memory care in the Houston metro area. SLP now operates 41 seniors housing properties in the state of Texas.
LITTLETON, Colo. — Anthem Memory Care has named Angie Erickson as executive director of Willowbrook Place, a memory care community in the Denver suburb of Littleton. Erickson previously worked for Leisure Care, serving as sales manager and general manager of Denver’s Carillon at Belleview Station. She has also been general manager of MacKenzie Place in Colorado Springs and Treeo, a senior living community in Utah.
Exclusive Webinar: Seniors Housing Valuations Have Bright Long-Term Future Despite COVID-19 Challenges
by Jeff Shaw
Although the coronavirus pandemic has created unprecedented challenges for the seniors housing sector, on the valuations side of the equation the future is still promising. That’s according to a panel of industry experts on an exclusive Seniors Housing Business webinar titled “Market Valuation: How are Seniors Housing Valuations Weathering the Pandemic?” Moderated by JP LoMonaco, president of appraisal and consulting firm Valuation & Information Group, the panel included Kevin Pascoe, chief investment officer at seniors housing REIT NHI; Rich Lerner, executive vice president at Housing & Healthcare Finance; Chris Kronenberger, managing …
CINCINNATI — Gardner Capital has completed Roselawn Gardens, a LEED-certified seniors housing community in Cincinnati. The property features 50 apartments for seniors earning between 30 and 60 percent of the area median income. Construction was partially funded through the Low-Incoming Housing Tax Credit affordable housing program. Development partners included the Cincinnati Metropolitan Housing Authority, the Ohio Housing Finance Agency, Fifth Third Bank and Stratford Capital. Arco Construction served as the general contractor for the project. Wallick Communities is the operator.
WEST CHESTER, Pa. — Kendal Corp. has completed construction of Preston, a 61,000-square-foot expansion of its Barclay Friends community in West Chester, approximately 25 miles west of Phialdelphia. Preston features 60 new apartments, including 20 for memory care. The building was named in honor of Dr. Ann Preston, a 19-century Quaker activist and physician who was one of the first women in America to become a medical doctor.
PHILADELPHIA — Pennrose, a Philadelphia-based multifamily developer that often works on affordable seniors housing properties, has promoted Shannon Mowery to vice president of supportive services. Mowery has been with Pennrose Management Co. since 2002 and has been a leader of the supportive services team. In 2015, she was promoted to director of supportive services. Mowery is responsible for new program design and implementation, developing and managing community partnerships for all future developments, and ensuring that every site within the 148-property portfolio meets the individual program obligations that were a part …
Alzheimer’s Association Awards National Certificate of Recognition to Discovery’s Memory Care Program
by Jeff Shaw
BONITA SPRINGS, Fla. — The Alzheimer’s Association has awarded a national Certificate of Recognition to Discovery Senior Living for the company’s SHINE Memory Care program. Discovery is a seniors housing owner-operator based in Bonita Springs. The company’s portfolio totals 15 communities in 13 states. The distinction comes following a comprehensive review of the program curriculum, which uses scientific principles to promote engagement, comprehension and lifestyle quality for seniors living with dementia. Discovery is one of eight providers nationally to receive this recognition. The Alzheimer’s Association Dementia Care Practice Recommendations use …
CENTRAL, La. — Claiborne Senior Living has opened The Claiborne at Shoe Creek in Central, a suburb of Baton Rouge. The community features 70 assisted living residences and 30 memory care apartments. Caroline Smith is executive director of the community and Jill Dupont is community relations director.