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AcquisitionsMemory CareNewsUtah

SLIB Brokers Sale of 66-Bed Barrington Place in Clinton, Utah

by Jeff Shaw

CLINTON, Utah — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Barrington Place, a 66-bed memory care community in Clinton, 30 miles north of Salt Lake City. The facility was built in 2016, totaling approximately 32,862 square feet on 2.9 acres of land. A national owner-operator seeking to sell non-core assets sold the property to a family office based in the West for an undisclosed price. The new owner plans to install Ridgeline Management Co. as the operator. Jason Punzel, Vince Viverito and Brad Goodsell of SLIB handled …

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FinanceIndependent LivingNewsUtah

Greystone Arranges $22.5M Refinancing for TREEO South Ogden in Utah

by Jeff Shaw

OGDEN, Utah — Greystone has arranged a $22.5 million loan to refinance debt on TREEO South Ogden, a seniors housing community in Ogden, approximately 30 miles north of Salt Lake City. Tyler Armstrong, managing director at Greystone, placed the bank loan for Leisure Care, which owns the 143-unit independent living community. The regional bank loan was executed as a floating-rate financing carrying a five-year term and 30-year amortization. The loan featured 12 months of interest-only payments and a mid-200 basis points loan spread.

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AcquisitionsMemory CareNewsUtah

SLIB Negotiates Sale of 66-Bed Pheasant Run in Clinton, Utah

by Jeff Shaw

CLINTON, Utah — Senior Living Investment Brokerage (SLIB) has arranged the sale of Pheasant Run, a memory care community in Clinton, approximately 30 miles north of Salt Lake City. Built in 2015, the facility consists of 45 units and 66 beds across approximately 32,862 square feet, on three acres of land. A regional owner exiting the Utah market sold the asset to a family office based in the Western U.S. for an undisclosed price. The new owner plans to use Ridgline Management Company as the operator. Jason Punzel, Vince Viverito …

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Affordable HousingDevelopmentNewsUtah

TWG Plans $13M Residences at Fireclay Affordable Community in Murray, Utah

by Jeff Shaw

MURRAY, Utah — TWG has unveiled plans for Residences at Fireclay, a $13 million affordable seniors housing community in Murray. Construction is slated to begin this year, with the first units available in 2025. Located at 152 W. 4250 South, the four-story building will feature 40 one-bedroom apartments for seniors age 62 and older. The units are also reserved for those earning up to 50 percent of the area median income, with a preference for military veterans. Additionally, the project includes four units reserved for disabled seniors and five units …

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AcquisitionsAssisted LivingNewsUtah

SLIB Negotiates Sale of 62-Unit Harmony Hills in Lehi, Utah

by Jeff Shaw

LEHI, Utah — Senior Living Investment Brokerage (SLIB) has arranged the sale of Harmony Hills, a 62-unit assisted living facility in Lehi, located on the north bank of Utah Lake between Salt Lake City and Provo. The community was built in 2016, totaling approximately 46,000 square feet on 1.5 acres of land. The property was vacant at the time of sale. The seller was a Utah-based developer looking to exit the industry. The buyer is a Utah-based skilled nursing and short-term rehab owner-operator expanding its portfolio into assisted living. The …

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AcquisitionsActive AdultNewsUtah

IPA Brokers Sale of 144-Unit Lakeside Village Active Adult Community Near Salt Lake City

by Jeff Shaw

WEST VALLEY CITY, UTAH — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Lakeside Village, an active adult property in West Valley City. Constructed in 1997, Lakeside Village features 144 one- and two-bedroom residences with eight-foot ceilings, walk-in closets and private balconies or patios. The community includes a swimming pool, hot tub, community garden and pond. Danny Shin and Brock Zylstra of IPA represented the undisclosed seller and procured the undisclosed buyer in the deal. Terms of the transaction were not released.

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FinanceKeyBankNewsUtah

KeyBank Provides $68.3M Refinancing for Seniors Housing Property in Salt Lake City

by Jeff Shaw

SALT LAKE CITY — KeyBank Real Estate Capital has arranged a $68.3 million permanent loan through Freddie Mac for The Woodbury Corp., Colmena Group and Western States Lodging. The loan refinances existing debt on Legacy Village of Sugar House, a seniors housing property in Salt Lake City. The 10-story Legacy Village of Sugar House features independent living, assisted living and memory care units. The property also offers retail space, parking and commercial space. Morgin Morris of KeyBank structured the 10-year, fixed-rate loan with an initial five years of interest-only payments. …

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AcquisitionsActive AdultNewsUtah

Institutional Property Advisors Arranges Sale of 277-Unit Active Adult Community Near Salt Lake City

by Jeff Shaw

DRAPER, Utah — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of The Ivy at Draper, a 277-unit active adult community in Draper, a southern suburb of Salt Lake City. Ivy at Draper features freeway access, with connectivity to interstates 15, 215 and 80 and immediate access to Bangerter Highway, a main thoroughfare throughout the Wasatch Front. The buyer, seller and price were not disclosed. “Draper City’s prestigious location at the Point of the Mountain, in the south end of Salt Lake Valley and …

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AcquisitionsIndependent LivingNewsUtah

SLIB Brokers Sale of 82-Unit Williamsburg Community in Logan, Utah

by Jeff Shaw

LOGAN, Utah — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Williamsburg, an 82-unit independent living and assisted living community in Logan. Located in the northern portion of Utah near the Idaho border, the facility was built in 1981 and renovated in 2015. It totals approximately 62,953 square feet and is situated on approximately 1.8 acres of land. The seller was a regional owner-operator based in Utah. The buyer is a California-based private owner looking to expand its portfolio of independent living communities. As such, the new owner …

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Affordable HousingDevelopmentNewsUtah

Canterbury Partners Completes Affordable Community in Ogden, Utah

by Jeff Shaw

OGDEN, Utah —Canterbury Partners LLC has completed work on Senior Living on Washington, an affordable seniors housing community in Ogden, approximately 35 miles north of Salt Lake City. Partners on the project include R & O Construction, Think Architecture, The Richman Group Affordable Housing Corp., JP Morgan Chase Community Development Bank, Rocky Mountain Community Reinvestment Corp. and the Olene Walker Housing Loan Fund. Senior Living on Washington is a 100 percent affordable housing project for seniors over age 62. EMG Management will be the operator.

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