KIRKLAND, Wash. — The Cogir Family of Companies has completed work on Cogir of Kirkland, a 76-unit independent living and assisted living community in Kirkland, a suburb east of Seattle. Located in the city’s Lakeview neighborhood, the community offers units ranging from 375 to 475 square feet. Cogir will hold a ribbon cutting on June 20 at the property.
HARVEY, Ill. — Berkadia has arranged a $17.6 million Low-Income Housing Tax Credit (LIHTC) equity investment for the financing and preservation of Jesse Jackson Jr. Senior Housing, a 120-unit affordable housing property in Harvey, a suburb south of Chicago. The borrower is Preservation of Affordable Housing (POAH). Brian Blanchard and James Grande of Berkadia Affordable Housing led the transaction. Jesse Jackson Jr. Senior Housing consists of two three-story, elevator-serviced buildings that were originally constructed in 2007 (Phase II) and 2011 (Phase III). Units are reserved for seniors age 62 and …
AUSTIN, Texas — Sherman & Roylance has brokered the sale of an eight-acre development site in Austin. The property, previously approved by the City of Austin for a two-story, 98-unit assisted living and memory care facility, faced construction delays and ultimately ended up in foreclosure by Woodforest Bank in September 2023. The “as designed” construction halted in 2022. Woodforest Bank sold the partially completed project to Novak Brothers, which may convert the project into a general multifamily development. “This was a challenging assignment, given the unfinished state of the property …
LAKEWOOD, Colo. — Walker & Dunlop has negotiated the sale of Lakeview Senior Living, a 125-unit independent living community in the Denver suburb of Lakewood. Livingston Street Capital acquired the community, which was built in 2008. The seller and price were not disclosed. Joshua Jandris led the Walker & Dunlop team.
STUART, Fla. — Allegro Senior Living has named Kaitlyn Oteri as the executive director of Alto Stuart in Stuart, a coastal city in South Florida. Alto Stuart features 91 units of assisted living and memory care. Oteri has over a decade of experience in leadership roles within senior living communities, most recently as executive director for Wickshire Port St. Lucie in nearby Port St. Lucie.
ALPHARETTA, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Tapestry House Memory Care in Alpharetta, a suburb north of Atlanta. The community sits on 1.9 acres offering 42 units of memory care. The seller, Insignia Senior Living, is divesting of its U.S.-based assets to focus on core geographic markets in Puerto Rico and Latin America. The undisclosed buyer is looking to expand its skilled nursing and assisted living portfolio throughout Georgia. Daniel Geraghty and Bradley Clousing handled the transaction for SLIB. “This acquisition was strategic for …
SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NYSE:CTRE), a San Clemente-based investor, has acquired a five-facility, 498-bed skilled nursing portfolio located in the Southeast for $80.9 million, including transaction costs. In connection with the acquisition, the company entered into a new triple-net master lease with affiliates of YAD Healthcare, a new operator relationship for the company and an experienced skilled nursing operator with facilities across multiple states in the Mid-Atlantic and Southeast. The lease has an initial term of 10 years with two five-year extension options and provides for a …
FLORENCE, Ky. — Walker & Dunlop Investment Sales has arranged the sale of Legacy Living Florence, a 128-unit senior living community in Florence, just south of Cincinnati, Ohio. Built in 2022, Legacy Living features independent living, assisted living and memory care services. The buyer was a REIT. The seller and price were not disclosed. Alex Vice, Joshua Jandris and Brett Gardner led the Walker & Dunlop team.
SKOKIE, Ill. — Covenant Living Communities and Services, a nonprofit, faith-based senior living organization headquartered in Skokie, has appointed David Erickson as the new president and CEO. He comes to this role following the recent retirement of Terri Cunliffe, who had been in the position since 2015. Erickson has been with Covenant for 16 years, most recently serving as senior vice president and general counsel. Covenant Living currently owns and operates 18 communities in 10 states.
ROCK HILL, S.C. — Liberty Senior Living has taken over management of HarborChase of Rock Hill and renamed the property Kempton of Rock Hill. Rock Hill is located just across the state border from Charlotte, North Carolina. Further details on the transaction were not disclosed. A division of Liberty Health, Liberty Senior Living specializes in senior living and retirement communities.
