Tuesday, June 17, 2025
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Affordable HousingDevelopmentFinanceMassachusettsNews

MassDevelopment Issues $21.8M Bond Financing for Affordable Project in Boston

by Jeff Shaw

BOSTON — MassDevelopment has issued a $21.8 million tax-exempt bond for the construction of a mixed-use building in Boston’s Hyde Park neighborhood that will feature 63 units of affordable seniors housing and ground-floor retail. The borrower is CCC River LLC, an affiliate of B’nai B’rith Housing of New England Inc.  The new building will replace an underutilized commercial space containing an auto repair shop, and will be built to LEED and Passive House standards.  The 63 one-bedroom units will be rented to households earning up to 30 percent, 50 percent …

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AcquisitionsAssisted LivingGeorgiaNews

Berkadia Negotiates Sale of Two Seniors Housing Properties in Metro Atlanta

by Jeff Shaw

ATLANTA and MARIETTA, Ga. — Berkadia has arranged the sale of two assisted living and memory care communities in the Atlanta metropolitan area. The portfolio totals 146 units in Atlanta and the suburb ofMarietta. The seller was a publicly traded REIT. A regional owner-operator acquired the assets for an undisclosed price.  Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders led the Berkadia team.

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AcquisitionsAssisted LivingColoradoNews

Ziegler Brokers Sale of Bethesda Senior Living Community in Grand Junction, Colorado

by Jeff Shaw

GRAND JUNCTION, Colo. — Ziegler has acted as exclusive financial advisor to Bethesda Senior Living on the sale of an assisted living community located in Grand Junction, near the Utah border. Bethesda Senior Living is a faith-based, nonprofit operator of over 20 communities spanning the Midwest and West regions. Cornerstone Management purchased the community in conjunction with a private real estate fund and took over operations. The price was not disclosed.

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Active AdultFinanceFloridaNews

Aztec Group Arranges $55.6M Financing for Arcadia Gardens Active Adult Community in Palm Beach Gardens, Florida

by Jeff Shaw

PALM BEACH GARDENS, Fla. — Aztec Group has arranged $55.6 million in bridge financing for Arcadia Gardens, an active adult community located in Palm Beach Gardens.  MetLife provided the loan to the borrowers, affiliates of the United Group of Cos. and Sina Cos. United Group also manages the property, which was developed in 2021. Situated on 10.6 acres, the age-restricted apartment community comprises 220 units reserved for residents age 55 and older.

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AcquisitionsIllinoisNews

SLIB Brokers Sale of 188-Unit Community Near Chicago

by Jeff Shaw

CHICAGO — Senior Living Investment Brokerage has arranged the sale of a 188-unit independent living, assisted living and memory care community in a southern submarket of Chicago. The seller was a Midwest-based institutional capital provider. The buyer was a Midwest-based owner-operator looking to strategically expand its existing footprint throughout the Midwest. Further details were not disclosed. Brad Clousing, Daniel Geraghty, and Ryan Saul led the transaction for SLIB.

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ConnecticutMassachusettsNewsOperationsPeople

LCB Appoints Two New Executive Directors in New England

by Jeff Shaw

SWAMPSCOTT, Mass., and WESTPORT, Conn. — LCB Senior Living has named Andrew Gillis as executive director of The Residence at Vinnin Square, an independent living, assisted living and memory care community in Swampscott, approximately 14 miles northeast of Boston. Gillis brings 30 years of healthcare experience, specifically in skilled nursing, assisted living and hospice, to The Residence at Vinnin Square. He is also licensed both as a nursing home administrator and a clinical social worker.  Previously, Gillis served as the president and chief operating officer for Bluepoint Healthcare. Additionally, his …

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CCRCDevelopmentFinanceNewsTennessee

Ziegler Arranges $17.7M Bond Financing for HutsonWood at Spring Hill in Tennessee

by Jeff Shaw

SPRING HILL, Tenn. — Ziegler has arranged $17.7 million in bond financing for HutsonWood at Spring Hill. The borrower will use the financing proceeds to acquire approximately 20 acres of land and to finance certain pre-construction development costs related to an expansion and repositioning of an existing skilled nursing and assisted living community in Spring Hill, a suburb south of Nashville. Upon completion of construction, the project will provide a full continuum of care for residents on an approximately 35-acre campus consisting of 172 independent living units, 24 assisted living …

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AcquisitionsAffordable HousingCaliforniaNews

CPP Acquires 102-Unit Corinthian House Affordable Community in San Jose

by Jeff Shaw

SAN JOSE, Calif. — Community Preservation Partners (CPP) has purchased Corinthian House, an affordable seniors housing property in San Jose. CPP’s total development investment is approximately $38 million, which includes the purchase price of $21 million and an estimated per-unit renovation cost of $85,000. Built in 1982, Corinthian House comprises two elevator-served, three-story buildings on 1.7 acres. Located at 250 Budd Ave., the 102-unit property offers studio and one-bedroom layouts designated for seniors age 62 and older earning between 30 and 60 percent of the area median income. Planned renovations …

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NewsOklahomaOperations

Blueprint Negotiates Re-Tenanting of Vacant Asset Near Tulsa for Behavioral Health Conversion

by Jeff Shaw

TULSA, Okla. — Blueprint Healthcare Real Estate Advisors has negotiated a new tenant a vacant seniors housing asset in the Tulsa area. The owner, a national REIT, is seeking to convert the asset into a behavioral health property. Ultimately, a large regional substance abuse and inpatient mental healthcare operator was selected as the ideal tenant for the asset based on lease terms and execution capability, according to Blueprint. Andrew Sfreddo, Shane Harmon and Gunnar Raney led the Blueprint team.

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