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Aloha-Iā-Halewilikō_'Aiea-Hawai'i
Affordable HousingDevelopmentHawaiiNews

EAH Housing Begins Leasing at $62M Affordable Community in Hawaii

by Hayden Spiess

‘AIEA, HAWAII — Nonprofit organization EAH Housing has begun leasing at Aloha lā Halewilikō, a new affordable seniors housing community in ‘Aiea.  Totaling 140 units, the property is reserved for residents age 62 and older. Residences are available for households earning 30, 50 and 60 percent of the area median income.  Units at the community include 83 studio and 56 one-bedroom apartments, as well as a manager’s unit. Amenities at the development include a multipurpose room, walking paths, fitness facilities, community gardens and digital literacy programs. Local nonprofit partner Lanakila Pacific …

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Active-Adult_Annapolis-Md
Active AdultDevelopmentMarylandNews

Greystar to Develop Active Adult Project in Annapolis, Maryland

by Hayden Spiess

ANNAPOLIS, Md. — Greystar has announced plans to develop a new active adult project in Annapolis.  Upon completion, the community will total 175 units, with a mix of one-, two- and three-bedroom residences. Amenities at the five-story development will include a library, club room, kitchen, fitness studio, pet spa, swimming pool and exterior courtyard.  Greystar recently acquired a 2.17-acre development site within Annapolis Town Center for the project. Construction is currently underway, and leasing is scheduled to begin in spring 2026.  Annapolis Town Center features more than 50 retail stores and …

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Company NewsNew YorkNews

Macquarie Asset Management Launches New Seniors Housing Platform

by Hayden Spiess

NEW YORK CITY — Global asset manager Macquarie Asset Management has launched Health Wave Partners, a new seniors housing platform.  Alongside established operators, the platform will target investments in modern properties.  Health Wave Partners’ management team will include John Cobb as chief executive officer, Philip Kayden as chief investment officer, Elliot Pessis as chief operating officer, Sean O’Malley as managing director of finance and Holden Torrens as director of investments.  “Health Wave Partners will focus on investing in what it views to be high-quality properties and partner with experienced operators in …

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AcquisitionsArizonaAssisted LivingIndependent LivingMemory CareNews

Stellar Senior Living Acquires Community in Marana, Arizona

by Hayden Spiess

MARANA, Ariz. — Stellar Senior Living has acquired La Sonora at Dove Mountain, a seniors housing community located in Marana, roughly 20 miles northwest of Tucson.  Totaling 152 units, the property features independent living, assisted living and memory care residences.  The seller and sales price were not disclosed. Stellar Senior Living, which was founded in 2011, is headquartered in Salt Lake City. 

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Coventry Court
AcquisitionsAffordable HousingCaliforniaNews

Jonathan Rose Cos. Acquires Coventry Court for $83M

by Hayden Spiess

TUSTIN, Calif. — Jonathan Rose Cos. has acquired Coventry Court, a seniors housing community located in Tustin, for $83 million. Meta Housing Corp. was the seller.  Developed in 2012, the property features 240 units, with 153 residences designed as affordable and reserved for seniors earning 50, 60 and 110 percent of the area median income. Consequently, the property qualifies for a 40 percent tax abatement. The other 87 units at the community are market rate.  Jim Fisher, Vince Norris, Mike Smith and Tommy Yates of Northmarq brokered the transaction on behalf …

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Company NewsNewsOhioPeople

United Church Homes Names Terry Spitznagel COO

by Hayden Spiess

MARION, Ohio — Nonprofit senior living provider United Church Homes (UCH) has named Terry Spitznagel chief operating officer (COO).  Spitznagel, who joined the organization in 2020, will continue to serve as senior executive vice president as well. Previously, she also held the title of chief growth officer.  In her new role, Spitznagel will report directly to Kenneth Young, president and CEO of UCH.  “Terry has consistently demonstrated a deep commitment to our mission and a strong vision for the future of senior living and services,” says Young. “Her strategic leadership, collaborative …

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FinanceNew YorkNewsSkilled Nursing

MonticelloAM Provides $218M Financing for Skilled Nursing Portfolio in Kentucky

by Hayden Spiess

NEW YORK CITY — MonticelloAM has provided $218 million in financing for a skilled nursing portfolio in Kentucky. Comprising 18 facilities, the portfolio totals 1,500 beds across the state.  In addition to a $179.3 million senior bridge loan and a $29 million mezzanine loan, which the undisclosed borrower plans to use to restructure and upsize existing debt, the financing includes a $10 million working capital line of credit that will be used to cover the day-to-day operational needs of the facilities.  New York City-based MonticelloAM originally financed the portfolio in May …

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Ellore_Santa-Clara-Calif
CaliforniaNewsOperations

Ellore Senior Living Launches Wellness Program in Santa Clara, California

by Hayden Spiess

SANTA CLARA, Calif. — Ellore Senior Living, a recently opened 176-unit seniors housing community in Santa Clara, has launched a new onsite wellness program.  Dubbed Wellness by Ellore, the program will offer onsite healthcare services to residents. Wellness by Ellore offers five “pillars” of care — Medical Advisement, Concierge Medicine, Ellore Med, Ellore Balance and Traditions Memory Care. Dr. Mahyar Ayati is leading the program.  Through an exclusive partnership with Pine Park Health, Concierge Medicine will offer primary and specialist care including dentistry, podiatry, audiology, optometry and therapeutic massage. Ellore Med …

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Assisted LivingFinanceIndependent LivingMemory CareNewsWisconsin

Nuveen Provides $10.6M C-PACE Financing for Development in Wisconsin

by Hayden Spiess

SHEBOYGAN, Wis. — Nuveen Green Capital has provided $10.6 million in C-PACE financing for the construction of a new senior living development in Sheboygan. North Town Partners is the borrower. Upon completion, Charter Senior Living Sheboygan will total 182 independent, assisted living and memory care units within a 191,000-square-foot building.  Charter Senior Living Sheboygan is being developed jointly by DMK Development Group, North Town Partners and Charter Senior Living. The project’s total cost is $55 million. 

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Assisted LivingMemory CareMichiganNews

BHI Provides $49M Bridge-to-HUD Financing for Portfolio in Michigan

by Hayden Spiess

DETROIT — BHI, the U.S. branch of Bank Hapoalim B.M., has provided $49 million in bridge-to-HUD financing for a portfolio of three communities located in suburbs of Detroit.  Shahid Imran, doing business as Hampton Manor, is the borrower.  The portfolio includes Hampton Manor of Dundee, Hampton Manor of Trenton and Hampton Manor of Hamburg. Together, the communities total 221 units, with 171 assisted living and 50 memory care units.  Proceeds from the bridge-to-HUD facility will be used refinance existing debt and facilitate a partnership buyout, with Imran assuming full ownership of …

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