COLLIERVILLE, Tenn. — HJ Sims and Duncan-Williams have arranged a financing package totaling $219.3 million for the construction of The Farms at Bailey Station, a continuing care retirement community in Collierville. The borrower is Retirement Companies of America (RCA). The development will be a sister community to Kirby Pines Estates in nearby Memphis. When completed, The Farms will feature 176 independent living units, 63 garden homes, 52 assisted living units, 32 memory support suites and a health center consisting of 60 private skilled nursing suites. The units are already 70 …
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WATERSOUND, Fla. — Master developer Minto Communities USA, global lifestyle brand Margaritaville Holdings and The St. Joe Company (NYSE: JOE) have started land development activities for Latitude Margaritaville Watersound. The site for the active adult community is located in Florida’s Panhandle region in Bay County near Panama City Beach. An official groundbreaking is planned for spring 2020. The project will total approximately 3,500 for-sale homes with a sales center, model homes and resort-style amenities for those 55 and older. The sales center and models are projected to open early 2021. …
Confluent Senior Living Sells Three MorningStar Communities in Iowa, Oregon, New Mexico
by Jeff Shaw
WEST DES MOINES, Iowa, BEAVERTON, Ore., and SANTA FE, N.M. — Confluent Senior Living, a subsidiary of Denver-based real estate investment and development firm Confluent Development, has sold three of its MorningStar-branded communities. Confluent Senior Living co-developed each community with its operating partner MorningStar Senior Living. MorningStar will maintain its role as operator for the communities. CBRE brokered the deal on behalf of Confluent Senior Living. In West Des Moines, the MorningStar at Jordan Creek community opened in March 2018. The 71,000-square-foot community provides 85 assisted living and memory care …
GRAVES COUNTY, Ky. — Senwell Senior Investment Advisors has arranged the sale of a 73-bed skilled nursing facility in the Purchase Region of Graves County, located in the southwest corner of the state near the Tennessee border. The seller was looking to exit in order to focus more attention on their core assets. A buyer expanding in the region acquired the property in an off-market transaction. Ben Bohland and Brandon Bohland of Senwell facilitated the transaction. The price and name of the facility were not disclosed.
SCOTTSDALE, Ariz. — Cadence Living has promoted Rhonda Thiel from executive director of its Inspira Arrowhead community to regional director of operations for the mountain region. Prior to joining Cadence, Thiel held roles with Koelsch Communities, JEA Senior Living and Emeritus. Anna Sarres will replace Thiel as executive director at Inspira Arrowhead, which is located in Glendale. Sarres spent six years with Silverado in multiple roles, and previously worked as life enrichment director at Sierra Pointe in Scottsdale. Based in Scottsdale, Cadence Living is currently developing, owns and/or operates communities …
AUSTIN, Texas — AMTEX Multi-Housing LLC has received financing and started construction of Limestone Ridge Senior Apartments, an affordable seniors housing community in Austin. The property will feature 223 one- and two-bedroom units, plus two apartments for on-site managers. Units are reserved for those over age 55 making up to 60 percent of the area median income (AMI), which is $45,420 annually for a two-person household. The community will also feature a one-story clubhouse and will have 405 surface parking spaces, or 1.8 spaces per unit. Social services will be …
SILVER SPRING, Md. — Pennrose has opened the doors on Pointe View at Aspen Hill in Silver Spring, located just north of Washington, D.C. The mixed-use property features 120 units, of which 108 are reserved for those age 62 and older making between 30 and 60 percent of the area median income. The remaining 62 units are for “very low income” residents, though the developer did not specify the requirements associated with that designation. Pennrose has partnered with The Senior Connection to provide on-site supportive services. Pointe View at Aspen …
EXTON, Pa. — Capitol Seniors Housing has started construction of Arbor Terrace Exton, an assisted living and memory care community in Exton, a suburb of Philadelphia. The 78,000 square-foot community will feature 86 apartments located near major medical facilities, restaurants and shopping. Capitol expects to complete construction in winter 2020. The Arbor Company will operate the community upon completion. The designer on the project is Meyer Senior Living Studio.
ROCK HILL, S.C. — Harbor Retirement Associates has opened HarborChase of Riverwalk, a seniors housing community in Rock Hill, just across the state border from Charlotte. The property features 63 assisted living units and 25 memory care units. Harbor has another community in the Rock Hill area, and the two will act as sister communities.
GREELEY, Colo. — OZ Architecture has completed design work on WellAge Greeley, a 71,000-square-foot senior living community in Greeley, approximately 55 miles north of Denver. Rocky Mountain Senior Housing is developing the 92-unit community, which WellAge will operate. The property sits on 3.5 acres and will offer independent living, assisted living and memory care. The community is scheduled to open in second-quarter 2020.