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CCRCDevelopmentNewsVirginia

Focus Healthcare Partners Completes $67M Renovation Project at The Virginian CCRC in Fairfax

by Jeff Shaw

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 …

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CaliforniaFinanceMissouriNewsVirginia

CareTrust REIT Provides $52M in Mezzanine Financings

by Jeff Shaw

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 …

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DevelopmentMemory CareNewsVirginia

Commonwealth Senior Living Begins Memory Care Expansion at Community in Manassas, Virginia

by Jeff Shaw

MANASSAS, Va. — Commonwealth Senior Living has started the complete renovation of Commonwealth Senior Living at Manassas, located in the town of Manassas, approximately 35 miles southwest of Washington, D.C. The project includes the creation of a secure memory care neighborhood, which will feature a new dining room, a new fitness/therapy space and a new living/activity room dedicated to the memory of Caton Merchant, original founder of the community.  In addition, all the apartments and public areas will be renovated, and the building exterior will be completely updated.  “Since taking …

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DevelopmentIndependent LivingNewsVirginia

Bonaventure Nears Completion of 133-Unit Alate Old Town in Alexandria, Virginia

by Jeff Shaw

ALEXANDRIA, Va. — Bonaventure has neared completion of Alate Old Town, a 133-unit independent living community in Alexandria. Partners on the project include Senior Lifestyle Corp. and Earthcraft. The development is scheduled to open in March. Located in the Old Town West historic district of the first-ring Washingon, D.C. suburb, future residents will have access to more than 200 restaurants and boutiques alongside historic museums and activities on King Street, less than 0.3 miles away.  Alate’s main restaurant, Old Town Tavern, will be open to the public.

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AcquisitionsFinanceNewsSkilled NursingVirginia

CFG Provides $19.8M Acquisition Loan for Skilled Nursing Facility in Virginia

by Jeff Shaw

VIRGINIA — Capital Funding Group (CFG) has provided a $19.8 million bridge-to-HUD loan to support the acquisition of a 120-bed skilled nursing facility in Virginia.  Loan proceeds represented 100 percent of the acquisition and closing costs. Further details were not disclosed. Andrew Jones originated the transaction for Capital Funding Group.

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ColoradoDevelopmentNewsVirginia

Brinkmann Constructors Builds Communities in Virginia, Colorado

by Jeff Shaw

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 …

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CCRCDevelopmentFinanceNewsVirginia

Ziegler Arranges $76.9M Bond Financing for Williamsburg Landing Expansion in Virginia

by Jeff Shaw

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 …

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CCRCDevelopmentFinanceNewsVirginia

Ziegler Arranges $423.5M Bond Financing for Westminster-Canterbury on Chesapeake Bay in Virginia Beach

by Jeff Shaw

VIRGINIA BEACH, Va. — Ziegler has arranged $423.5 million in bond financing for Westminster-Canterbury on Chesapeake Bay (WCCB), a continuing care retirement community in Virginia Beach. The community is located on a 12-acre property fronting the Chesapeake Bay and currently includes 424 independent living units, 66 assisted living units, 14 memory care units and 108 skilled nursing beds. In addition, WCCB owns and operates a 172-unit rental independent living community called Opus Select, located a half mile away from the community. WCCB is carrying out an expansion to the community, …

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Assisted LivingDevelopmentNewsVirginia

The Virginian Opens New Assisted Living Wing as Part of $67M Renovation

by Jeff Shaw

FAIRFAX, Va. — The Virginian, an independently operated continuing care retirement community in Fairfax, has opened the second phase of the community as part of a $67 million renovation.  The renovated seven-story, 367,000-square-foot buildings will feature four wings, comprising 155 independent living apartments, 56 assisted living residences and 36 memory care units, along with 81 skilled nursing beds. Nestled on over 32 wooded acres along the Accotink Creek of the Potomac River, The Virginian stands out as one of the few senior living communities in the area.

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AcquisitionsAssisted LivingNewsVirginia

Blueprint Brokers Sale of Two Communities in Central Virginia

by Jeff Shaw

VIRGINIA — Blueprint Healthcare Real Estate Advisors has arranged the sale of two assisted living and memory care communities in Central Virginia. The properties located approximately 75 miles apart from each other and total 128 total units. One is located in a densely populated, affluent market, and the other in a more tertiary submarket. The buyer, seller and price were not disclosed, nor were further details on the properties.The Blueprint team included Kory Buzin, Steve Thomes, Amy Sitzman and Giancarlo Riso.

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