ST. PAUL, Minn. — Ryan Cos. has broken ground on the redevelopment of a 122-acre former Ford plant in St. Paul’s Highland Park neighborhood. Named Highland Bridge, the project has a focus on residential, featuring seniors housing, market-rate multifamily housing and 760 units of affordable housing, as well as for-sale row homes. In addition to the project’s 3,800 housing units, Highland Bridge is slated to include 150,000 square feet of retail space, 265,000 square feet of office space and 50,000 square feet of civic or institutional spaces. More than 55 …
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WASHINGTON, D.C. — The American Health Care Association (AHCA) and National Center for Assisted Living (NCAL) have issued a letter to the National Governors Association asking for stronger state support regarding lab processing and personal protective equipment in long-term care. “With the major spikes of COVID cases in many states across the country, we are very concerned this trend will lead to a dramatic increase in cases in long term facilities,” states the letter. “Recent independent research by Harvard Medical School, Brown University’s School of Public Health and University of …
JOHNSON CITY, Texas — Senior Living Investment Brokerage (SLIB) has negotiated the sale of LBJ Medical Center, a 60-bed skilled nursing facility in Johnson City, approximately 45 miles west of Austin. The property was built in 1989 and totals 16,045 square feet on a 2.6-acre plot. The transaction was positioned as a value-add opportunity, as its occupancy was only 63 percent even before the COVID-19 pandemic. A local owner-operator exiting the industry sold the asset to a regional owner-operator based in Texas. The price was not disclosed. Matthew Alley arranged …
KLAMATH FALLS, Ore. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 56-unit independent living community in Klamath Falls, located in the southern part of the state near the California border. The buyer is a regional owner-operator that plans to reposition the asset as an affordable option. The seller was not disclosed.
CHARLOTTE, N.C. — Singh, a developer that builds senior living communities under the Waltonwood brand, has named Tammy Mullins as the executive director of Waltonwood Cotswold. Mullins brings more than 20 years of senior living experience to her new role. She held multiple positions at senior living communities across the country, including business office manager, assistant executive director, executive director and regional director. Mullins is a Certified Director of Assisted Living (CDAL) and a Certified Dementia Practitioner (CDP). Waltonwood Cotswold opened in August 2016 in Charlotte. The assisted living and …
DENTON, Texas — Investcor has completed the renovation of Fairhaven Assisted Living, a historic senior living building in Denton, approximately 35 miles north of Fort Worth. The development team for the 47-unit project included Pi Architects, Coastal Reconstruction, Allison Engineering, TDi Engineering, MEP Associates Design Groups and Architexas. The original building was designed by Texas architect O’Neil Ford, whose designs blended the surrounding environment into the building and featured the use of natural elements and materials. The original Fairhaven was originally developed in the 1950s, but closed in 2007 and …
VIERA, Fla. — ConcordRENTS has started construction of Venue at Viera Senior Living Apartments, a 145-unit affordable seniors housing community in Viera, a master planned community centrally located on Florida’s Space Coast near the City of Melbourne. Units are reserved for seniors making between 40 percent and 80 percent of the area median income. Development costs for the four-story building were estimated at $32 million. Funding for Venue at Viera Senior Living comes from $16.8 million in tax-exempt bonds issued by the Brevard County Housing Finance Authority and $11 million …
MANCHESTER, Ky. — Walker & Dunlop has arranged $10.7 million in financing for Landmark of Laurel Creek, a 106-bed skilled nursing facility in Manchester, approximately 90 miles southeast of Lexington. The loan was made through HUD’s LEAN 232/233(f), which refinances debt on skilled nursing facilities. Joshua Rosen led the Walker & Dunlop origination team.
MINEOLA, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of Wood Memorial Nursing Home, located in Mineola approximately midway between Dallas and Shreveport, Louisiana. The skilled nursing facility was built in 1964 and features 115 total beds. The facility saw improved EBITDAR from $100,000 in 2017 to over $1 million in 2020. An owner-operator based in Central Texas sold the property to a Texas-based regional owner-operator for $7.4 million. Matthew Alley, who previously sold this community in 2017, arranged the transaction for SLIB.
PFLUGERVILLE, Texas — SilverPoint Senior Living has taken over operations of Heritage Lakes of Pflugerville, located in the Austin suburb of Pflugerville. The development partner on the project, scheduled to open in fall 2020, is Heritage Lakes Development. The 40,000 square-foot community is situated on 32 acres featuring 28 assisted living and 20 memory care residences adjacent to the existing 38 independent living villas.