MOORESTOWN, N.J. — Resort Lifestyle Communities has completed Parkers Bend Retirement, an independent living community in Moorestown, approximately 10 miles east of Philadelphia. The company will hold a grand opening for the community on April 18. Although the number of units was not disclosed, they come in studio, one-, two- and three-bedroom plans.
BARRINGTON, Ill. — Berkadia has arranged the sale of a 45-unit assisted living and memory care community in Barrington, approximately 35 miles northwest of downtown Chicago. The Berkadia team of Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders represented the seller, a publicly traded REIT. A regional owner-operator acquired the property for an undisclosed price. Further details were not disclosed.
GOSHEN, Ind. — Evergreen Real Estate Group has completed Green Oaks of Goshen, a 120-unit assisted living community for low-income seniors in Goshen, a city in northern Indiana. Evergreen Construction Co., a division of Evergreen Real Estate Group, served as general contractor on the project, which recently welcomed its first residents and is currently 50 percent leased. Located at 282 Johnson St., the $30 million project replaces a vacant, three-acre lot on the city’s north side near an existing Salvation Army building. Bourbonnais, Ill.-based Gardant Management Solutions operates the four-story …
CHICAGO — Blueprint Healthcare Real Estate Advisors has negotiated the sale of three value-add seniors housing communities in western suburbs of Chicago. Opened between 1994 and 2000, the portfolio consisted of three geographically clustered communities, with two distinct managers, offering approximately 290 assisted living and memory care units and approximately 40 Medicare-only skilled nursing units. The communities struggled post COVID and presented a meaningful value-add opportunity, despite some recent capital improvements. Ultimately, the seller elected to divest the communities to preserve liquidity and simplify the portfolio. The buyer was a …
ILLINOIS — CFG, a subsidiary of CFG Bank, has provided two HUD loans totaling $13.6 million to refinance debt on two skilled nursing facilities in Illinois. The facilities accommodate a total of 173 beds. Further details were not disclosed. Tim Eberhardt and Ava Julio originated the transaction for CFG.
DAVENPORT, Iowa — Health Dimensions Group (HDG) has taken over management of Country Manor Memory Care in Davenport. Country Manor Memory care is the Quad Cities’ only freestanding memory care community, according to HDG. The community features 38 licensed beds. Further details were not disclosed.
GIG HARBOR, Wash. — Emerald Communities, a nonprofit operator with two continuing care retirement communities (CCRCs) in Washington, has appointed Chris Lucero as the new executive director at Heron’s Key in Gig Harbor, just across the Puget Sound from Tacoma. Lucero has more than 17 years of experience in the senior living industry. He holds a bachelor’s degree in marketing from the University of New Mexico. As executive director, Lucero will oversee the management, planning, organization, leadership, evaluation and control in all departments of Heron’s Key.
FAIRFAX, Va. — Arlington Partnership for Affordable Housing (APAH) has opened Ilda’s Overlook Senior Residences, an affordable seniors housing community in Fairfax, approximately 15 miles west of Washington, D.C. The community provides 80 affordable units to seniors age 62 and above with incomes at or below 60 percent of the area median income (AMI). Ilda’s Overlook was built in partnership with Fairfax County Redevelopment and Housing Authority (FCRHA) and Erickson Senior Living. The property’s name, Ilda’s Overlook, is a nod to Black history in Fairfax County. It references a community …
TOPEKA, Kan. — Marcus & Millichap has arranged the sale of Providence Living Center, a 78-bed, 24,000-square-foot nursing facility in Topeka. A limited liability company sold the asset to an undisclosed buyer for an undisclosed price. The Marcus & Millichap team included Rod Llanos and Colby Haugness.
TROY, N.Y. — The United Group of Cos. Inc, a Troy-based owner operator, has promoted Michael DiGiacomo to chief operating officer and Jeff Smetana to chief development officer. DiGiacomo will take on increased responsibility in all phases of operations as well as play the role of leading United Group’s growing management company. DiGiacomo was formerly United Group’s vice president of operations. In that role, he oversaw the management company’s operations and the asset management of United Group’s senior, student, multifamily and commercial portfolios. Before joining United Group, DiGiacomo was a …