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AcquisitionsAssisted LivingNewsOregon

Foundry Commercial Acquires 126-Unit The Village at Keizer Ridge in Keizer, Oregon 

by Jeff Shaw

KEIZER, Ore. — Foundry Commercial has purchased The Village at Keizer Ridge, a seniors housing community in Keizer, a northern suburb of the state capital, Salem. With this acquisition, Foundry now owns 30 senior living communities totaling over 1,900 units and operates 57 senior living communities totaling over 3,800 units across the U.S. The Village at Keizer Ridge, which opened in 2016, offers 126 units of assisted living and memory care. Cascadia Senior Living, Foundry’s regional operating partner in the Pacific Northwest, will operate the community following the acquisition.  Foundry’s …

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AcquisitionsNewsWisconsin

Ziegler Negotiates Sale of 67-Unit Cedar Community Elkhart Lake in Wisconsin

by Jeff Shaw

ELKHART LAKE, Wis. — Ziegler has arranged the sale of Cedar Community Elkhart Lake, a 67-unit independent living and assisted living community in Elkhart Lake, approximately midway between Green Bay and Milwaukee. Ziegler advised the seller, local nonprofit Benevolent Corp. Cedar Community, in the transaction. The seller built the entry-fee community in 2008. The 13.3-acre property, located blocks from Elkhart Lake, includes a neighborhood of independent townhomes, a main assisted living apartment complex and a resident clubhouse. Matter Development acquired the property. Matter’s operating affiliate, Koru Health, will operate the …

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DevelopmentIndependent LivingMarylandNews

Commonwealth Senior Living Plans Independent Living Expansion in Salisbury, Maryland

by Jeff Shaw

SALISBURY, Md. — Commonwealth Senior Living has unveiled a planned expansion at Commonwealth Senior Living at Salisbury, located on the Delmarva Peninsula near the Delaware border, southeast of both Baltimore and Washington, D.C. The plan calls for 12 cottages and a new clubhouse. In addition to the new facilities, Commonwealth Senior Living will introduce new lifestyle programming and amenities. After construction is complete, there will be a total of 23 cottages at Commonwealth Senior Living at Salisbury. “We have seen a tremendous amount of demand from existing and prospective residents …

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NewsPeople

LCB Hires Kelly Shaw as Director of Learning

by Jeff Shaw

NORWOOD, Mass. — LCB Senior Living, a Norwood-based owner-operator, has named Kelly Shaw as director of learning.  In this newly created role, Shaw will create and cultivate LCB’s associate training program, while also encouraging growth opportunities and learning support to all. She will lead efforts for increasing learning productivity, teaching new skills, elevating current training platforms and increasing knowledge. Shaw was formerly senior content developer and instructional designer at Sunrise Senior Living. She has over 20 years of senior living experience. In addition, she is a Mental Health First Aid …

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Affordable HousingDevelopmentFloridaNews

Housing Trust Group Breaks Ground on $44M Naranja Grand Affordable Community in Leisure City, Florida

by Jeff Shaw

LEISURE CITY, Fla. — Housing Trust Group (HTG) has started construction of Naranja Grand, an affordable housing community for seniors in Leisure City, approximately 25 miles southwest of Miami. The $44 million project is a collaborative effort between HTG and Miami Lakes-based Elite Equity Development. The eight-story property will feature 120 units reserved for income-qualifying residents age 55 and older who earn at or below 30, 60, and 70 percent of the area median income (AMI). Monthly rents will range from $580 to $1,625. Construction is slated for completion in …

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AcquisitionsAssisted LivingColoradoNews

ESI Arranges $31.5M Sale of Balfour at Littleton in Colorado

by Jeff Shaw

LITTLETON, Colo. — Evans Senior Investments (ESI) has arranged the sale of Balfour at Littleton, a seniors housing community in the Denver suburb of Littleton. United Properties sold the 86-unit assisted living and memory care community for $31.5 million, or $366,279 per unit.  Built in 2018, the trophy asset was 97 percent occupied. Over the past 12 months, the community consistently maintained an average occupancy of 95 percent, even with new supply coming into the market, according to ESI. The buyer was an investment group based in Ohio.

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AcquisitionsAssisted LivingNewsTexas

Blueprint Brokers Sale of 93-Unit Community in Preston Hollow Neighborhood of Dallas

by Jeff Shaw

DALLAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 93-unit assisted living and memory care community in the Preston Hollow area of Dallas. The seller was a national developer and investor looking to create an exit strategy in order to maximize value for more than a dozen geographically disparate, older-vintage communities. The communities were purchased in a sizeable portfolio transaction pre-COVID, under a value-add thesis contemplating operator transitions to create regional groupings coupled with the intent to meaningfully invest in renovations and repositioning. Unfortunately, according to …

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NewsPeople

Patriot Angels Hires Mary Sue Patchett as Strategic Advisor for New Business

by Jeff Shaw

HENDERSONVILLE, Tenn. — Patriot Angels, a Hendersonville-based organization that helps veterans pay for senior living, has hired Mary Sue Patchett as strategic advisor for new business. Patchett has 40 years of experience in senior living and healthcare. She was a community executive director before spending more than two decades as a senior executive leader at Brookdale Senior Living, most recently as executive vice president of community and field operations.

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CCRCFinanceFloridaNews

Ziegler Arranges $10.5M Bond Financing for Jacaranda Trace in Venice, Florida

by Jeff Shaw

VENICE, Fla. — Ziegler has arranged $10.5 million in bond financing for Jacaranda Trace, a seniors housing community in the Gulf Coast city of Venice. The borrower is Convivial Life Inc. Jacaranda Trace is part of a multi-phase, master-developed campus originally built in 1998 consisting of 436 independent living residences (apartments and villas), 19 assisted living units, 36 memory care units and a clubhouse on approximately 33 acres.  In June of 2022, the borrower used a portion of the proceeds of the issuance of 2022 bonds in the total amount …

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AcquisitionsCompany NewsNews

Transforming Age, Elder Care Alliance Complete Affiliation Agreement

by Jeff Shaw

BELLEVUE, Wash. — Transforming Age, a Bellevue-based nonprofit operator, has completed its affiliation with Elder Care Alliance (ECA).  By combining their expertise, the two organizations aim to strengthen and grow their mission impact and better address the evolving needs of older adults across the economic spectrum, according to Transforming Age. Transforming Age is one of the nation’s largest nonprofit senior living providers, serving more than 125,000 older adults by integrating housing, community services, technology, philanthropy and partnerships.  Guided by a similar set of values and rich culture, San Francisco Bay …

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