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AcquisitionsActive AdultAffordable HousingCaliforniaNews

Coldwell Banker Brokers $33.7M Sale of Seville Gardens Active Adult Community in Huntington Park, California

by Jeff Shaw

HUNTINGTON PARK, Calif. — Coldwell Banker Commercial West has arranged the sale of Seville Gardens Apartment Community, a seniors housing property located at 2701 Randolph St. in Huntington Park. Seville Gardens LLC sold the asset to Equity Consultants Equity Inc. for $33.7 million. The buyer plans to maintain the property as seniors housing. Built in 1989, Seville Gardens features 225 apartments in a mix of 108 studios, 114 one-bedroom/one-bath and three two-bedroom/one-bath units. The property is currently under a building covenant that mandates it be used as 55-plus housing with …

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DevelopmentNew JerseyNews

JCHC, DIGroup Complete Renovation of Lester Senior Living in Whippany, New Jersey

by Jeff Shaw

WHIPPANY, N.J. — DIGroup Architecture and Jewish Community Housing Corp. (JCHC) have completed a renovation and expansion project at Lester Senior Living in Whippany, approximately 30 miles west of Manhattan. The project includes 20,000 square feet of newly completed modern amenities. Alterations at Lest’ers Heller Independent Living and Weston Assisted Living areas included re-envisioning the first-floor area as a more interactive space for residents. These gathering-place enhancements involved the café/reading room and refurbished dining room. Additions to the second floor encompassed a new theater. The atrium was also renovated.

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AcquisitionsAssisted LivingIllinoisNews

Blueprint Brokers Sale of 136-Unit Community in Joliet, Illinois

by Jeff Shaw

JOLIET, Ill. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 136-unit assisted living and memory care community in the Chicago suburb of Joliet. The two-building campus features dedicated assisted living and memory care buildings that were built in 1999 and 2007, respectively. The seller made approximately $1.3 million of capital expenditure investments since 2016. The buyer was a local owner-operator. The seller and price were not disclosed. Giancarlo Riso, Lauren Nagle, Brooks Blackmon and Amy Sitzman led the Blueprint team.

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InvestmentNewsPeople

Kayne Anderson Real Estate Appoints Lee Levy as Senior Managing Director, Head of Real Estate Debt

by Jeff Shaw

BOCA RATON, Fla. — Kayne Anderson Real Estate has hired Lee Levy as a senior managing director and head of real estate debt. Based in Boca Raton, Kayne Anderson is an investment firm across multiple property types, including seniors housing. Levy will serve alongside CEO Al Rabil and CIO David Selznick as a portfolio manager for Kayne Anderson Real Estate’s debt platform, which pursues investment opportunities in Freddie Mac structured products, CMBS and direct loan originations and purchases across Kayne’s alternative niche sectors — medical office, seniors housing, student housing …

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DevelopmentMissouriNews

Tutera, Shelbourne Open $55M The Lumiere of Chesterfield in Missouri

by Jeff Shaw

CHESTERFIELD, Mo. — Tutera Senior Living & Health Care, together with Shelbourne Healthcare Development Group, have completed The Lumiere of Chesterfield, an upscale senior living community in the St. Louis suburb of Chesterfield.  The community features 96 units of independent living, 37 units of assisted living and 17 units of memory care in a 193,000-square-foot building near the Chesterfield Mall. Development costs were estimated at $55 million.  The project architect is Moseley Architects in Springfield, Virginia, and the interior designer is Faulkner Design Group out of Dallas.

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AcquisitionsCompany NewsNewsTechnology

Senior Living Tech Company LifeLoop Acquires Resident Engagement Platform Linked Senior 

by Jeff Shaw

DENVER — LifeLoop, a Denver-based resident and staff experience solution for senior living, has acquired Linked Senior, an evidence-based resident engagement platform supporting person-centered care.  This acquisition brings together two senior living resident experience solutions. This merger comes as the industry actively prepares to support the influx of 76 million seniors who are aging into and exploring senior living care and lifestyle options. This need is compounded further by ongoing caregiver and staffing shortages that impact operators’ ability to provide exceptional services and experiences. “Mission alignment was essential for us …

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AcquisitionsArizonaIdahoNewsOperationsUtah

Grace Management Inc. to Operate Three Communities in the West

by Jeff Shaw

MERIDIAN, Idaho; SANTA CLARA, Utah; and CREEK, Ariz. — Grace Management Inc. has added three senior living communities to its management portfolio: The Pointe at Meridian in Meridian; Snow Canyon Retirement Community in Santa Clara, opening in fall 2024; and Cave Creek Assisted Living in Cave Creek, opening late 2024. Gold Stream Retirement Communities owns all three properties. Based in Salt Lake City, Gold Stream has strategically honed its focus on the development of upscale retirement communities in previously underserved markets. With this expansion, Grace Management now manages 64 communities …

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FloridaNewsOperationsPeople

Watermark Names Dan Guanio as Executive Director of The Glades at ChampionsGate in Four Corners, Florida

by Jeff Shaw

FOUR CORNERS, Fla. — Watermark Retirement Communities has named Dan Guanio as executive director of The Glades at ChampionsGate in Four Corners, located between Orlando and Tampa. The community offers independent living, assisted living and memory care. Guanio has more than 16 years of experience in senior living and has served as an executive director for most of his career. He has previously served as executive director at Atria Senior Living, Saber Healthcare and Watercrest Senior Living Group. He earned his bachelor’s degree from Florida State University.

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River Birch Living, Springfield, Illinois
Company NewsFinanceNews

Midwestern Nonprofit Operator Christian Horizon Files for Chapter 11 Bankruptcy

by Jeff Shaw

ST. LOUIS — Midwest Christian Villages, a St. Louis-based operator of Christian Horizons-branded seniors housing communities, has filed for reorganization under Chapter 11 bankruptcy. The company operates 12 communities in Illinois, Indiana, Missouri and Iowa. The nonprofit, faith-based organization owns and operates a portfolio of seven life plan communities and five standalone communities offering a mix of independent, assisted and supportive living; memory care; skilled nursing; and short-term rehabilitation. Chapter 11 bankruptcies in long-term care and healthcare reached a multi-year high in the first quarter, according to the Polsinelli-TrBK Distress …

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ArizonaDevelopmentIndependent LivingNews

Senior Resource Group Begins Expansion of Maravilla Scottsdale in Arizona

by Jeff Shaw

SCOTTSDALE, Ariz. — Senior Resource Group has started the planned expansion of Maravilla Scottsdale, a seniors housing community in the Phoenix suburb of Scottsdale. Neighboring the Fairmont Scottsdale Princess hotel and The Champions Course at TPC Scottsdale golf course, Maravilla Scottsdale has served older adults since its opening in 2012. The current community comprises 217 units, including 157 independent living, 36 assisted-living and 24 memory care residences.  The expansion will add 162 more independent living residences, consisting of 47 casitas and 115 lodge homes. Construction is ahead of schedule on …

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