BLACKSBURG, Va. — Ziegler has completed an $18 million taxable bank placement for Warm Hearth Village, a continuing care retirement community in Blacksburg. Warm Hearth was founded in 1974 and provides housing, health care and other services to seniors on its 220-acre campus through the operation of 259 independent living units, 55 active adult units, 150 assisted living units and 60 skilled nursing beds. The financing will be used to consolidate three existing bank placements and pay for $2 million in campus improvements. National Bank of Blacksburg provided the funds, …
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PIKEVILLE, Ky. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 120-bed skilled nursing facility in Pikeville, located along the Big Sandy River in the eastern portion of the state. The property was built in 1979 and renovated in 1987. The rooms are mostly semi-private. The REIT owner elected to sell the property as the existing operator sought to exit. The seller acquired the asset through a sale-leaseback in fourth-quarter 2019, all part of a larger portfolio. A local operator acquired the facility for an undisclosed price.
JACKSONVILLE, Fla. — FaverGray, a general contractor based in Jacksonville, has hired Mark Higby as division leader of senior living. Higby brings over 30 years of experience in the construction industry as a design and construction executive, including serving as federal director, senior vice president and division director for a large construction firm. Earlier in his career, Higby was the division leader responsible for sales and execution of projects in the senior living and healthcare market, including acute care hospitals, surgical centers, nursing care, memory care and continuing care retirement …
RANCHO BERNARDO, Calif. — Ryan Cos. has completed construction of Silvergate Rancho Bernardo, an 11-acre seniors housing campus in Rancho Bernardo, approximately 25 miles north of San Diego. AmeriCare Health & Retirement developed the community, which Ryan Cos. built. The development features of 20 cottages, 108 apartments, six penthouse units and 48 memory care units, and was 90 percent pre-leased. The apartments range from 400 square feet to 1,200 square feet, while the cottages run between 1,400 square feet and 1,600 square feet. Silvergate Rancho Bernardo is AmeriCare’s third development …
Grandbridge Provides $16.6M Acquisition Financing for Summer Vista Assisted Living in Pensacola
by Jeff Shaw
PENSACOLA, Fla. — Grandbridge’s Seniors Housing and Healthcare Finance Group has provided $16.6 million in financing for the acquisition of Summer Vista Assisted Living in Pensacola. The property totals 89 units of assisted living and memory care. Details on the buyer and seller were not disclosed. Richard Thomas and Thomas Wiedeman, based in Grandbridge’s Atlanta office, originated the Freddie Mac loan.
LA GRANGE, Ill. — Pathway to Living has opened Aspired Living of La Grange, a 117-unit assisted living and memory care community in La Grange, approximately 13 miles southwest of downtown Chicago. Totaling five stories and 118,583 square feet, the community features 85 assisted living and 32 memory care units. Pathway to Living is a Chicago-based developer, owner and operator of seniors housing communities and the seniors housing arm of Chicago-based real estate investor and operator Waterton. This is the company’s 23rdcommunity in Chicagoland. Thoma Holec provided interior design services, …
DAVISON, Mich. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 32-unit assisted living community in Davison, a suburb of Flint. The property was built in 1997 and expanded in 2013. A REIT sold the community to a Grand Rapids-based operator.
TALLAHASSEE, Fla. — SRI Management LLC, a senior living management company based in Tallahassee, has added three new hires to its corporate team, while also promoting Todd Filippone to executive vice president. Daniel Almendares joins the team as senior vice president of operations, applying nearly a decade of past industry experience. Almendares grew a small assisted living owner-operator group from less than 100 beds to close to 1,000. During his time in his last position, he worked his way through the company ranks, growing from an administrative trainee to a …
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 …
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 …