NASHVILLE, Tenn. — Lument has hired Justin Elshire as a managing director to lead its new office in Nashville. Elshire is responsible for originating and structuring commercial mortgage loans for seniors housing and healthcare clients across the country, focusing primarily on Fannie Mae, Freddie Mac, Federal Housing Administration (FHA) and U.S. Department of Agriculture loan programs, as well Lument’s proprietary lending products. He will report to Aaron Becker, Lument’s head of seniors housing and healthcare production. Elshire has over 20 years of financial and commercial real estate experience, most recently …
NASHVILLE, Tenn. — CBRE has arranged an undisclosed amount of financing for construction of The Crestmoor at Green Hills in Nashville. A joint venture between Bridgewood Property Co. and Harrison Street are developing the property, which is slated to rise 12 stories on a one-acre plot in the Green Hills neighborhood. The development will feature 117 independent living units, 45 assisted living units and 29 memory care units. Aron Will and Tim Root of CBRE National Senior Housing arranged the five-year construction loan through a regional bank. Bridgewood’s wholly owned …
HENDERSONVILLE, Tenn. — McShane Construction Co. has completed work on Album Indian Lake, located in the heart of the Indian Lake Village in Hendersonville. The community offers 138 units for adults 55 and older. The community is Avenida’s 12th and the second between McShane and Avenida. The property offers more than 6,000 square feet of interior amenity space within a detached clubhouse within the three-story building on a five-acre site. Poole & Poole Architecture provided architectural services for the development.
NASHVILLE, Tenn. — Ryan Cos. US Inc., on behalf of LCS and Harrison Street, has started construction of Clarendale West End in Nashville. The upscale community will feature 172 units of independent living, assisted living and memory care in a 261,000-square-foot, five-story building. According to Moore Diversified Services Inc., Nashville’s 75-plus population is expected to grow 4.4 percent annually, outpacing the city’s annual total population growth of 1.2 percent. “This community will offer premier senior living conveniently located close to some of the best entertainment, shopping and hospitals in the …
TENNESSEE — VIUM Capital has provided a $14.2 million bridge-to-HUD loan for a 79-unit assisted living community in Tennessee. The financing provided $12.8 million for the acquisition of the property, as well as $1.3 million for an expansion that will add eight memory care units. The borrower has operated the facility since its recent construction. Further details were not disclosed.
KNOXVILLE and POWELL, Tenn. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of two seniors housing communities, one in Knoxville and one in nearby Powell. The communities feature a combined 102 assisted living and memory care units. The seller is a private REIT that had partnered with a national operator. These two assets were outliers for the operator, which led to the sale. The buyer is a joint venture between a real estate/asset management firm and an operator that already had a footprint within Tennessee. The price was …
CLEVELAND, Tenn. — Solinity has opened Remember Me Senior Care, an assisted living and memory care neighborhood in the East Tennessee city of Cleveland. The five-home, farmhouse-style neighborhood focuses on memory care services. Solinity leads the operations and also serves as the marketing agency with sister company, Solinity Marketing. The homes are situated in a subdivision-like design with walking paths, a gazebo and pavilion. Each home includes a private family gathering room, living room, private apartments, a residential-style kitchen, outdoor common spaces and large hallways. Project partners included DKLEVY Architectural …
BRENTWOOD, Tenn. — Meridian Realty Advisors LP and Integral Senior Living have opened Cloverland Park Senior Living, a 100-unit seniors housing community in the Nashville suburb of Brentwood. Partners on the project include Pi Architects, SCI Construction, Thomas & Hutton, TDI Engineering and MEP Associates Design Group Inc. Located on 6.6 acres, Cloverland features 72 assisted living and 28 memory care units. “As part of this project, we donated seven acres of land to the city of Nashville for a planned park and walking trail site and look forward to …
MADISON, Tenn. — Lloyd Jones has acquired Maybelle Carter, a 131-unit senior independent living, assisted living and memory care community in first-ring Nashville suburb of Madison. The property will operate under Lloyd Jones’ Sage Hill brand as Sage Hill Maybelle Carter. Maybelle Carter is Lloyd Jones’ third seniors housing acquisition this year. In February, the firm added two Class A communities to its senior living portfolio: Aviva Woodlands in Lincoln, Nebraska, and River Bend in Rochester, Minnesota. The property was built on the former estate of country music legend “Mother” …
MEMPHIS, Tenn. — Charter Senior Living has taken over management duties at The Village at Primacy Place in Memphis. Formerly known as Rose Terrace Assisted Living, the community offers assisted living services. The Village at Primacy Place increases the family of Charter Senior Living retirement communities to more than 40 throughout the U.S.