WEST DES MOINES, Iowa — Co-developers MorningStar Senior Living and Confluent Development have broken ground on MorningStar at Jordan Creek, an 85-unit assisted living and memory care community in West Des Moines.
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WINCHESTER, Va. — CBRE has arranged a $7.4 million loan for a joint venture between Care Investment Trust and affiliates of Inspirit Senior Living. The capital will be used to purchase Hilltop House Assisted Living, a 73-unit independent living, assisted living and memory care community.
Already facing a labor shortage, the U.S. seniors housing industry could be dealt a “devastating” blow if president-elect Donald Trump were to limit the number of lower-wage immigrants coming into the country in order to accommodate an increased number of high-wage skilled immigrants, says Jeff Sands, managing principal and general counsel for HJ Sims. “It’s a real issue this industry is grappling with,” especially given the growing number of facilities.
CBRE Arranges $33.2M Acquisition Loan for 139-Unit Assisted Living Community in Minnesota
by Jeff Shaw
EDINA, Minn. — CBRE has arranged a $33.2 million loan for a joint venture between The Waters Senior Living and an undisclosed institutional investor. The capital will be used for the acquisition of The Waters of Edina, a 139-unit assisted living and memory care community in the Minneapolis suburb of Edina.
DOWNERS GROVE, Ill., PRAIRIE VILLAGE, Kan., and DELRAY BEACH, Fla. — Lifespace Communities, a nonprofit operator based in Iowa, has named new executive directors at its continuing care retirement communities (CCRCs) in Downers Grove, Prairie Village and Delray Beach.
Eastern Union, Greystone Arrange $105M Acquisition Loan for 13-Property Portfolio in Kentucky
by Jeff Shaw
NEW YORK CITY — Eastern Union Funding and Greystone & Co. have arranged a $105 million loan for a New York-based owner-operator. The loan will be used to partially fund the $120 million acquisition of 12 skilled nursing facilities and one assisted living community in Eastern Kentucky.