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AcquisitionsIndependent LivingMemory CareMinnesotaNewsSkilled Nursing

Vivie Adds Northfield Retirement Community to Portfolio 

by Hayden Spiess

NORTHFIELD, Minn. — Vivie has acquired Northfield Retirement Community in Northfield. Opened in 1969, the community offers a full continuum of care, including independent living, assisted living, memory care, skilled nursing and rehabilitation. Vivie’s portfolio comprises 34 communities, as well as several home health and hospice offices. In addition to its senior living communities, Vivie — formerly Knute Nelson and Walker Methodist — provides home health care, care management, rehabilitation and hospice across Minnesota, North Dakota and Wisconsin.

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Company NewsNewsOhioPeople

National Church Residences Appoints Chair of the Board, Vice Chair

by Hayden Spiess

COLUMBUS, Ohio — Nonprofit organization National Church Residences has appointed new leaders of its board. Both longstanding board members, Virginia Barney and Rob Maloney will serve as chair and vice chair of the board, respectively.  Barney succeeds Greg Overmeyer, who has served in the role since 2022. Barney’s experience includes more than 30 years of leadership in the private and public sectors, including tenures as the city manager, councilwoman and mayor of the City of Upper Arlington in Ohio.  “I’m looking forward to working with my board colleagues and the staff …

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Brooke-House_Boston
Affordable HousingDevelopmentFinanceMassachusettsNews

2Life Communities Receives State Funding for 127-Unit Affordable Housing Project in Boston

by Hayden Spiess

BOSTON — 2Life Communities has received funding in the form of low-income housing tax credits, state bond funds and rental subsidies from the state of Massachusetts for the development of an affordable seniors housing community in the Boston neighborhood of Mattapan. Massachusetts Gov. Maura Healey’s administration awarded the funding.  Dubbed Brooke House at Olmsted Village, the project will comprise 127 apartments reserved for seniors earning at or below 60 percent of the area median income.  The property will also feature a 2,400-square-foot public community space with a small convenience store. Brooke House will …

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Assisted LivingCaliforniaFinanceMemory CareNewsSkilled Nursing

Forbright Provides $44M HUD Financing for 318-Bed Facility in California

by Hayden Spiess

SAN JOSE, Calif. — Forbright Bank has provided a $44.2 million HUD loan to finance a 318-bed skilled nursing, assisted living and memory care facility located in the San Jose area of California.  Provided under the HUD 232/223(f) program, the 35-year fully amortizing term loan will be used to refinance existing Forbright Bank bridge and partnership debt, as well as cover the cost of recent capital expenditures and critical repairs. Forbright originally provided acquisition financing and a line of credit for working capital for the undisclosed borrower in 2022. 

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AcquisitionsAssisted LivingIllinoisMemory CareNews

Tutera Senior Living & Health Care Acquires, Plans to Reopen 75-Unit Community in Metro Chicago

by Hayden Spiess

MATTESON, Ill. — Tutera Senior Living & Health Care has acquired a 75-unit seniors housing community located in Matteson, roughly 30 miles south of Chicago. Built in 2021 for $21 million, the property formerly operated under the name Alexi Senior Living before closing in 2022. Tutera plans to make improvements to the community and reopen it as Ridgeland Senior Living this spring.  Situated on 5.5 acres, the 81,589-square-foot development features 55 assisted living and 20 memory care residences. Amenities at the property will include a restaurant-style dining room; poker area and …

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AcquisitionsAssisted LivingIndependent LivingMemory CareNewsOperationsPennsylvania

Legend Senior Living Takes Partial Ownership of Community Near Philadelphia

by Hayden Spiess

KING OF PRUSSIA, Pa. — Legend Senior Living has taken partial ownership of Anthology Living, a seniors housing community located in King of Prussia, roughly 20 miles outside Philadelphia. Effective immediately, the community — which offers independent living, assisted living and memory care residences — will be known as Revelle King of Prussia.  Legend will also operate community. This brings the Wichita, Kansas-based company’s portfolio to a total of 65 owned and/or operated communities in Florida, Colorado, Texas, Kansas, Oklahoma and Pennsylvania.  Amenities at Revelle King of Prussia include a fitness …

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Legal IssuesMarylandNews

Maryland Legislator Proposes Bill Requiring Video Surveillance in Assisted Living, Nursing Home Facilities

by Hayden Spiess

ANNAPOLIS, Md. — Maryland legislators have proposed a bill — HB576 — that would require video surveillance within assisted living and nursing home facilities in the state, with the aim of detecting abuse, neglect and exploitation of residents. This follows several incidences of mistreatment in Maryland.  Under the legislation, operators would be required to install and maintain video surveillance equipment within facility common areas. Private spaces and areas where residents receive medical care or nursing services would be exempt from surveillance requirements.  According to the Maryland General Assembly’s website, the bill …

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Lake-Place
Active AdultFinanceMinnesotaNews

BWE Secures $20M Permanent Financing for Active Adult Community in Metro Minneapolis

by Hayden Spiess

CHANHASSEN, Minn. — BWE has secured $20 million in permanent financing for Lake Place, an active adult community located in Chanhassen, roughly 20 miles outside Minneapolis. Silver Creek Equity, a Minnesota-based development company, is the borrower.  Lundat Kassa of BWE originated the financing through Freddie Mac on behalf of the borrower. The loan features a 10-year term with a 35-year amortization period and five years of interest-only payments. Proceeds from the loan will be used to close out the existing high-interest floating rate construction financing.  Built in 2023, Lake Place totals …

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DevelopmentNewsWashington, D.C

Maplewood, Omega Healthcare Investors Open 174-Unit Luxury Senior Living Community in Washington, D.C. 

by Hayden Spiess

WASHINGTON, D.C. — Maplewood Senior Living and Omega Healthcare Investors Inc. have opened Inspīr Embassy Row, a 174-unit luxury senior living community in the Fairfax at Embassy Row building in Washington, D.C.  Located with proximity to the Dupont Circle Metro, the community features apartments in studio, one- and two-bedroom layouts.  Architect Beyer Blinder Belle led the project, an adaptive reuse renovation.  “Inspīr Embassy Row showcases our commitment to raising the bar in senior living,” says Shane Herlet, co-CEO of Maplewood Senior Living and Inspīr Senior Living. “By combining cutting-edge technology, personalized …

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Assisted LivingFinanceMemory CareNew YorkNews

MonticelloAM Arranges $115M Acquisition Financing for Seniors Housing Portfolio in Long Island

by Hayden Spiess

LONG ISLAND, N.Y. — MonticelloAM has arranged $115 million in acquisition financing for a portfolio of seniors housing communities located in Long Island. The undisclosed borrower plans to use the proceeds from the senior bridge loan to both acquire the properties and expand the services offered across the communities.  The portfolio comprises 1,000 beds across multiple assisted living and memory care communities.  With two six-month extension options, the financing carries a 36-month initial term. 

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