BREWSTER, Mass. — OREC Securities, the investment banking affiliate of Lancaster Pollard, has arranged the sale of Pleasant Bay Nursing and Rehabilitation Center in the Cape Cod town of Brewster. The community is a five-star rated facility with 135 skilled nursing beds and 59 assisted living units. Although the original plan was to split the community into two separate sales, a regional owner-operator bought the properties as a single asset. Laca Wong-Hammond, Chad Elliott, Kevin Laidlaw and Aaron Becker led the transaction for OREC. The seller and price were not …
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NEW ALBANY, Ohio — Trilogy Health Services has Smith’s Mill Health Campus, a seniors housing community in New Albany, a suburb of Columbus. The assisted living and skilled nursing services will be offered on the first floor, with independent living on the second floor. A separate area named Legacy Lane will provide memory care services. The number of units was not disclosed. In addition to traditional skilled nursing, the health center will offer rehabilitation, outpatient therapy and adult daycare services. Paragon Rehabilitation will provide the team of physical therapists. Trilogy …
MONUMENT, Colo. — WellAge has named Dena Mackey as executive director of Jackson Creek Senior Living, a 137-unit independent living, assisted living and memory care community in Monument, located between Denver and Colorado Springs. Mackey has more than 16 years’ experience in the senior living industry. She started her career as a certified nursing assistant in an memory care unit and eventually worked at Poudre Valley Hospital on the medical floor and in the operating room. Mackey has also worked as an assisted living director, memory care director and hospice …
Nonprofit Operator Acquires Former College of New Rochelle Campus in Metro New York City
by Jeff Shaw
NEW ROCHELLE, N.Y. — The Masonic Hall and Asylum Fund has acquired the former College of New Rochelle campus just north of the Bronx for $32 million, according to reports from The Journal News. The college declared bankruptcy in September, and sister school Mercy College absorbed all the students, faculty and programs. Although specific plans for the future of the property were not disclosed, Masonic Hall and Asylum Fund operates Masonic Care Community, a seniors housing community in Utica. The group also runs a summer camp and DeWint House, George …
POWAY, Calif. — Owner-operator Cadence Living and Sabra Health Care REIT have acquired Sunshine Care, a 32-acre seniors housing community in Poway, a suburb of San Diego. Now named Cadence at Poway Gardens, the property is situated near the Palomar Hospital. The community is known for its horticultural therapy program that grows more than 20,000 pounds of organic fruits and vegetables every year. “To be able to produce an in-house farm-to-table experience as an activity that brings staff, families and their loved ones together sets Cadence at Poway Gardens apart …
WASHINGTON, D.C. — A project development team comprising Dantes Partners, Gilbane Development Co., Carding Group and H Street Community Development Corp. has broken ground on Livingston Place at Southern in Washington D.C.’s Ward 8. The five-story community offers 152 units of affordable assisted living. Partners on the project include the D.C. Housing Finance Agency (DCHFA), the D.C. Department of Health and the Department of Healthcare Finance. Residents must be at least age 60 and earn no more than 60 percent of the area median income. The project is the first …
NEW YORK CITY — New York-based Meridian Capital Group’s seniors housing and healthcare team has arranged $60 million in financing for two portfolios of memory care assets across Ohio, Georgia, South Carolina, Colorado, California and Tennessee. Ari Adlerstein, Ari Dobkin and Josh Simpson of Meridian negotiated the two transactions, which will refinance existing debt on the properties. In the first transaction, Meridian arranged $27.5 million for four memory care facilities totaling 264 beds in Ohio and Georgia. The five-year loan features a fixed rate and limited personal guarantees. In the …
OHIO — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 45-unit assisted living and memory care community in Northeast Ohio. A regional owner-operator sold the property to an Ohio-based owner-operator looking to grow in the region. The price, facility name and exact location were not disclosed. Connor Doherty and Ryan Kelly of Blueprint facilitated the transaction.
TAMPA, Fla. — Evans Senior Investments (ESI) has arranged the sale of Tessera of Westchase, a 102-unit assisted living and memory care community in Tampa. An investor/developer sold the property to a publicly traded REIT for $28.8 million, or approximately $282,000 per unit. The community opened in summer 2019. The new owner is bringing in a regional operator to manage the property.
COLUMBIA, S.C. — Watercrest Senior Living Group and Titan Development Real Estate Fund I have opened Watercrest Columbia Assisted Living and Memory Care in Columbia. The resort-style community features 75 assisted living units and 32 memory care units. LifeBUILT Architecture designed the property. Watercrest Columbia is one of two joint venture development projects between Watercrest Senior Living Group and equity partner Titan Development Real Estate Fund I. Their second project, Watercrest Winter Park Assisted Living and Memory Care, is under construction in Winter Park, Florida, and scheduled to open in …