BEDFORD, Va. — Impact Senior Living, an affiliated SRI Management company, has taken over operations of Carriage Hill Retirement in Bedford, located between Lynchburg and Roanoke approximately 150 miles west of Richmond. Set on over 15 acres offering views of the Blue Ridge Parkway, Carriage Hill Retirement specializes in assisted living and memory care. The number of units was not disclosed.
LYNCHBURG, Va. — LifeSpire of Virginia has announced plans for an $80 million expansion of The Summit, a continuing care retirement community in Lynchburg. Although the number of units was not disclosed, the company says the project will “create dozens of new residences” via 18 cottage homes and multiple villa options, as well as a new memory care neighborhood. The nonprofit LifeSpire of Virginia, which acquired The Summit in late 2021, plans to complete the expansion over the next 24 months. As Virginia’s senior population swells to an expected 2.2 …
DALEVILLE, Va. — LifeSpire of Virginia has broken ground on a $25 million expansion project at The Glebe, a continuing care retirement community in the Roanoke suburb of Daleville. The project will add a total of 22 new cottages will to the campus. These new residences are specifically designed to allow seniors to age in place. The first set of cottages is expected to open in early 2025. U.S. Census data shows that persons older than 60 years of age account for 28 percent of the overall population in Roanoke …
RICHMOND, Va. — BWE has arranged a $47 million loan to refinance Discovery Village at the West End, a 219-unit, Class A independent living, assisted living and memory care community in Richmond. Ryan Stoll and Taylor Mokris arranged the financing on behalf of a large private equity investor. Mesa West Capital provided the funds. Discovery Village at the West End comprises a 124-unit independent living building and a 95-unit assisted living and memory care building. The property is located on 37 acres and was built between 2011 and 2015 Discovery Senior …
RICHMOND, Va. — Berkadia has arranged the sale of a 77-unit assisted living and memory care community in Richmond. The seller was a publicly traded REIT. A private equity group acquired the property for an undisclosed price and has installed Commonwealth Senior Living as the operator. The new owner plans to implement a renovation plan, scheduled for completion in the first quarter of 2025. Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders led the Berkadia team.
BON AIR, Va. — Commonwealth Senior Living has taken over operations of a community in the Richmond area and renamed it Commonwealth Senior Living at Bon Air. This will be Commonwealth’s third senior living community in the Richmond area, joining Commonwealth Senior Living at Chesterfield and Commonwealth Senior Living at the West End. The community currently features 77 assisted living and memory care apartments, with both studio and one-bedroom suites. Commonwealth plans to execute a full renovation and updating of the community, to be completed by the first quarter of …
RICHMOND, Va. — Brinkmann Constructors, with Erickson Senior Living, has broken ground on a four-story, 109-unit residential building at Avery Point in Richmond. The 158,000-square-foot, wood-framed building is the seventh residential building constructed at the community. It is slated to welcome residents in the second half of 2025.
FAIRFAX, Va. — Arlington Partnership for Affordable Housing (APAH) has opened Ilda’s Overlook Senior Residences, an affordable seniors housing community in Fairfax, approximately 15 miles west of Washington, D.C. The community provides 80 affordable units to seniors age 62 and above with incomes at or below 60 percent of the area median income (AMI). Ilda’s Overlook was built in partnership with Fairfax County Redevelopment and Housing Authority (FCRHA) and Erickson Senior Living. The property’s name, Ilda’s Overlook, is a nod to Black history in Fairfax County. It references a community …
FAIRFAX, Va. — Focus Healthcare Partners has completed a $67 million renovation project at The Virginian, a 32-acre continuing care retirement community (CCRC) in the D.C. suburb of Fairfax. LCS operates the property. This project included adding an array of advanced technology, sustainability initiatives, lifelong learning opportunities and healthcare services. Amenities now include multiple dining venues, a wine cellar, sports bar, indoor golf simulator, theater, entertainment venues, three full-service salons, technology areas and a spa under development. Outdoor areas include pickleball, bocce ball, a putting green, a dog park and …
SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NYSE: CTRE) has participated in the origination of over $52 million in mezzanine loans. The financings are secured by three portfolios of 26 properties comprising 3,050 skilled nursing beds and 186 assisted living units in Virginia, Missouri, and California. CareTrust’s participation in the Virginia and Missouri mezzanine financings was done alongside a co-lender: the Northwind Group. Northwind’s healthcare portfolio includes investments in nearly 200 skilled nursing facilities and senior living communities. CareTrust provided $35 million in mezzanine loan proceeds in connection with the …
