RICHMOND, Va., and FORT COLLINS, Colo. — Brinkmann Constructors, in partnership with Erickson Senior Living and Mosely Architects has completed the construction of a four-story, 103-unit residential building at Avery Point, a seniors housing community in Richmond. This 157,000-square-foot, wood-framed building is the fourth residential facility built on the campus and the fifth building at Avery Point completed by Brinkmann. In a separate deal, Brinkmann Constructors, in partnership with Experience Senior Living, broke ground on a five-story memory care and assisted living facility with 27 memory care units and 117 …
SAN BERNARDINO, Calif. — CareTrust REIT Inc. (NYSE: CTRE) has acquired The Villas at San Bernardino, a 78-unit assisted living and memory care facility located in the Inland Empire city of San Bernardino. In connection with its acquisition of the facility, CareTrust and a third-party regional healthcare real estate investor entered into a joint venture arrangement under which CareTrust provided a combined common equity and preferred equity investment amount totaling $10.7 million. CareTrust is the managing member of the joint venture entity. CareTrust’s initial contractual yield on its combined preferred …
BEACHWOOD, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Menorah Park, a sprawling seniors housing campus in the Cleveland suburb of Beachwood. Following an affiliation with a fellow nonprofit, Montefiore, in July 2020, the campus totaled 588 licensed skilled nursing beds, 288 assisted living and memory care units, and 193 independent living units. The seller was a nonprofit organization that has served Cleveland’s Jewish community since its founding in 1906. Facing challenges due to increased healthcare staffing and a shift in competitive landscapes, the board elected …
WESTLAKE VILLAGE, Calif. — LTC Properties Inc. (NYSE: LTC), a Westlake Village-based REIT that invests in seniors housing and healthcare properties, has completed its previously announced process involving its 35-property Brookdale Senior Living portfolio. Through the process, 17 communities across four states including Colorado (six), Texas (six), Kansas (four) and Ohio (one) with a total of 738 units, were re-leased to Brookdale. The new master lease, which commenced in January 2024, is for six years at an initial annual rent of $9.3 million. Five communities in Oklahoma, with a total …
CHAGRIN FALLS, Ohio — Continuum Advisors has arranged for the sale of The Weils, a 120-unit assisted living, memory care and skilled nursing community in Chagrin Falls, an eastern suburb of Cleveland. Built in phases between 2002 and 2015, the community consists of 75 assisted living units, 18 memory care units and 27 skilled nursing units. The community sits on a 45-acre site and includes excess acreage for future expansion. Through the marketing of the campus for sale, the community featured occupancy around 85 percent. Cleveland-area based non-profit Eliza Jennings …
SAN BERNARDINO, Calif. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Villas at San Bernardino, a 77-unit assisted living and memory care community in California’s Inland Empire. Built in 2003, the property totals 43,197 square feet on 1.35 acres of land. This was the seller’s only remaining seniors asset, as it plans to exit the industry. The buyer was an in-state owner-operator looking to grow its footprint in California. The price was not disclosed. Jason Punzel, Brad Goodsell, Vince Viverito and Jake Anderson of SLIB handled the …
WILLIAMSBURG, Va. — Ziegler has arranged $76.9 million in bond financing for an expansion project at Williamsburg Landing, a continuing care retirement community in Williamsburg. Williamsburg Landing is located on 138.56 acres. It was founded in 1982 and since opening its doors has grown to include 317 independent living apartments, 73 assisted living units, 36 memory care units and 58 health and rehabilitation units. In 2018, Williamsburg Landing acquired 15.3 acres of undeveloped land adjacent to the existing campus, on which the owners plan to develop an expansion known as …
SWEETWATER, Fla. — CREI Holdings, a development firm, has received a $41 million loan for the refinancing of Li’l Abner II apartments in Sweetwater, just west of Miami. Marc Suarez led the Lument team, which provided the funds. The project was completed in April 2023. Designed by Burgos Lanza Architects and Planners, an architectural firm based in Coral Gables, the eight-story building is situated adjacent to its 87-unit sibling, Li’l Abner I. Li’l Abner II consists of 244 one- and two-bedroom units dedicated to affordable and workforce housing. Among these, …
SPRING HILL, FORT MYERS, NICEVILLE and TALLAHASSEE, Fla. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of four assisted living communities totaling 173 units in Florida. The properties are located in the municipalities of Spring Hill, Fort Myers, Niceville, and Tallahassee. A seniors housing REIT sold the assets to an operator expanding in Florida. The price was not disclosed. Bradley Clousing and Daniel Geraghty of SLIB handled the transaction.
BLOOMFIELD, N.J. — Juniper Communities, a Bloomfield-based owner/operator, has hired Rikki Goldenberg as Catalyst innovation and implementation specialist. In this newly created position, Goldenberg will play a pivotal role in advancing Juniper’s Catalyst program by spearheading innovation and overseeing its effective implementation. Catalyst is a signature program of Juniper, designed to integrate all resident services under one platform. “Rikki has proven to be an exceptional leader in the healthcare industry, launching programs for startups to complex healthcare organizations,” says Lynn Katzmann, CEO and founder of Juniper. “Her competencies in innovation …