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Affordable HousingDevelopmentFinanceFloridaNews

Pinnacle Receives $41.2M in Financing for Affordable Development in Miramar, Florida

by Jeff Shaw

MIRAMAR, Fla. — Pinnacle has received $41.2 million in financing to start construction of Pinnacle at La Cabaña, a 110-unit affordable housing development for seniors in the Miami suburb of Miramar. Construction is scheduled to begin this January.  Pinnacle at La Cabaña will consist of one- and two-bedroom apartments with enhancements to ensure adaptability for aging residents. Of the total units, 11 will be available for seniors earning up to 28 percent of the area median income and the remaining will be affordable to seniors earning up to 60 percent …

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NewsPeople

Cogir Senior Living Names Gottfried Ernst as Chief Operating Officer

by Jeff Shaw

SACRAMENTO — Cogir Senior Living, a Sacramento-based owner-operator, has hired Gottfried Ernst as chief operating officer.  Ernst joins the Cogir team from Discovery Senior Living Management LLC. He brings more than 20 years of experience within the hospitality and senior living industries and held prior executive leadership roles at Brookdale Senior Living, Harbor Retirement Associates and Green Courte Partners LLC. He was inducted into Brookdale’s President Circle in 2005 and helped develop and implement several Argentum award-winning programs.

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Affordable HousingDevelopmentFloridaNews

T.D. Jakes, New Urban to Develop Two Affordable Housing Communities in South Florida Totaling 350 Units

by Jeff Shaw

HALLANDALE BEACH and MIAMI GARDENS, FLA. — T.D. Jakes Real Estate Ventures (TDJREV) and New Urban Development will build two affordable housing communities in South Florida. Located in Hallandale Beach, the first property will comprise 200 mixed-income multifamily units on five acres. The groundbreaking is scheduled for the first quarter of 2024. The second community will be located in Miami Gardens, adjacent to the Miami Gardens Senior Family Center. Upon completion, the development will feature 150 affordable senior living units on seven acres. Amenities will include a clubhouse and walking …

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AcquisitionsArizonaNews

SLIB Arranges Sale of 143-Unit Community in Scottsdale, Arizona

by Jeff Shaw

SCOTTSDALE, Ariz. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 143-unit independent living and assisted living community in the Phoenix suburb of Scottsdale. The community totals approximately 145,000 square feet on 3.3 acres of land. The seller is an independent owner based in Southern California that had used multiple management companies over the past few years. The Utah-based buyer is the current management company, which has a national seniors housing portfolio. Matthew Alley, Jason Punzel, Vince Viverito and Brad Goodsell of SLIB handled the transaction.

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Lutheran Social Ministries of Maryland Hires Paige Mills-Haag as Vice President of Philanthropy

by Jeff Shaw

WESTMINSTER, Md. — Lutheran Social Ministries of Maryland has hired Paige Mills-Haag as its vice president of philanthropy.  Mills-Haag is spearheading the senior living organization’s philanthropic efforts, including designing initiatives that advance the organization’s mission and overseeing charitable programs and initiatives in its continuing care retirement communities: Carroll Lutheran Village in Westminster and Lutheran Village at Miller’s Grant in Ellicott City. With over 17 years of expertise in philanthropy and nonprofit leadership, Mills-Haag has held executive roles in two senior living communities. Mills-Haag earned a bachelor’s degree in organizational leadership …

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Assisted LivingDevelopmentNew JerseyNews

Meyer Opens 76,700 SF The Chelsea at Washington Township in New Jersey

by Jeff Shaw

WASHINGTON TOWNSHIP, N.J. — Meyer has opened The Chelsea at Washington Township, a luxury assisted living and memory care community located in the Washington Township, a suburb of Philadelphia. Capitol Seniors Housing owns the two-story, 76,700 square-foot community, which Chelsea Senior Living operates. The asset features 85 residential units with one and two-bedroom options. Its opening marks the fourth senior living property Meyer completed in 2023.

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AcquisitionsAssisted LivingNewsWashington

SLIB Negotiates Sale of 119-Unit Emerald City in Seattle

by Jeff Shaw

SEATTLE — Senior Living Investment Brokerage (SLIB) has arranged the sale of Emerald City, a 119-unit assisted living and memory care community in Seattle. Emerald City features 99 assisted living and 20 memory care units. It was built in 2006 with renovations in 2017. The property totals 88,839 square feet on approximately 0.8 acres of land. The seller was an out-of-state private equity group with a third-party operator. The buyer was an experienced regional owner-operator looking to expand its footprint in the Seattle MSA. The price was not disclosed. Jason …

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NewsPeopleSouth Carolina

Watercrest Hires Diana Chavis as Executive Director of Watercrest Columbia in South Carolina

by Jeff Shaw

COLUMBIA, S.C. — Watercrest Senior Living Group has hired Diana Chavis as executive director of Watercrest Columbia Assisted Living and Memory Care in Columbia. Chavis brings over 40 years of healthcare experience to her role, holding a dual license in South Carolina as a Nursing Home and Assisted Living Administrator as well as a Licensed Preceptor for Long Term Care. She has served as executive director of continuous-care residential communities that included independent living, assisted living, memory care, skilled nursing and long-term care.  Additionally, Chavis held the role of CEO …

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AcquisitionsActive AdultNew YorkNews

CBRE Negotiates Sale of 225-Unit Active Adult Property in Mount Sinai, New York

by Jeff Shaw

MOUNT SINAI, N.Y. — CBRE has negotiated the sale of Sutton Landing at Mount Sinai, a 225-unit active adult property located in the Long Island community of Mount Sinai.  Built in 2021 by Long Island-based B2K Development, Sutton Landing at Mount Sinai features apartments and single-family rentals for residents age 55 and over. Amenities include a pool, pickleball courts, putting greens, fitness center with yoga and Pilates studios, massage room, game room, a lounge area with a sports bar, catering kitchen and outdoor grilling and dining stations.  Aron Will, John …

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FinanceNewsSkilled NursingWisconsin

G Capital Markets Arranges Refinancing for 65-Bed Community Facility in Plum City, Wisconsin

by Jeff Shaw

PLUM CITY, Wis. — G Capital Markets has arranged the permanent refinancing of a skilled nursing and assisted living facility in Plum City, a tiny village of fewer than 1,000 residents approximately 60 miles southeast of the Twin Cities. The property was originally built in 1987 and renovated in 2005, with an assisted living expansion built in 2014. The community features 65 beds in 41 private and semi-private units, with a ratio of 70 percent skilled nursing to 30 percent assisted living. The community has performed strongly with occupancy consistently …

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