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DevelopmentNewsVirginia

Brightview Senior Living Opens 196-unit Dulles Corner Community in Herndon, Virginia

by Jeff Shaw

HERNDON, Va. — Brightview Senior Living has opened Dulles Corner in Herndon, a Washington, D.C. suburb near Dulles International Airport. Dulles Corner offers 196 units of independent living, assisted living and memory care. The development marks Brightview’s 46th community and its third in Fairfax County. “Brightview Dulles Corner follows a new trend to embed senior living into the greater community,” says Doug Dollenberg, president and CEO of Brightview. “Innovation Center Station is a $1 billion investment with the intent to offer a thoughtful live, work and play neighborhood in a …

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AcquisitionsMemory CareNewsVirginia

Blueprint Negotiates Sale of 48-Unit Arbor Terrace Fairfax in Chantilly, Virginia

by Jeff Shaw

CHANTILLY, Va. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Arbor Terrace Fairfax, a 48-unit memory care community in Chantilly, approximately 25 miles west of Washington, D.C. The seller was Capitol Seniors Housing (CSH), which developed the community in 2017 alongside operator The Arbor Company. The community leased up in record time, reaching 93 percent occupancy within eight months of opening its doors, according to Blueprint. It also maintained profitability during the COVID-19 lockdowns. Upon fully restabilizing in first-quarter 2022, CSH sought to collect on its successful …

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CCRCDevelopmentIndependent LivingNewsVirginia

Erickson Plans Independent Living Expansion at Avery Point in Short Pump, Virginia

by Jeff Shaw

SHORT PUMP, Va. — Erickson Senior Living has planned two new independent living buildings at Avery Point, a continuing care retirement community in Short Pump. Stafford Glen opened in February, and Langham Terrace will follow this summer. Stafford Glen and Langham Terrace feature 203 luxury one- and two-bedroom apartments. Additionally, two more buildings will open in 2024 — Boynton Place and Wilton Crossing — with reservations currently open. Avery Point, situated on a beautiful 94-acre campus, opened in October 2022. Upon full build-out, the community will feature 1,200 independent living …

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AcquisitionsNewsSkilled NursingVirginia

ESI Arranges $59M Sale of Three Skilled Nursing Communities in Virginia

by Jeff Shaw

VIRGINIA — Evans Senior Investments (ESI) has arranged the sale of a three-property skilled nursing portfolio in Virginia. Hill Valley Healthcare sold the assets to an East Coast-based buyer just entering the seniors housing industry. The $59 million price tag equates to $184,375 per bed. The assets are located in the eastern part of Virginia and totaled 270 skilled nursing beds and 50 assisted living beds. Despite two buildings being located in rural markets, the portfolio maintained an occupancy average of 86 percent during the marketing process. Accompanied with a …

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NewsOperationsPeopleVirginia

Goodwin Living Names Josh Bagley as Executive Director of The View Alexandria

by Jeff Shaw

ALEXANDRIA, Va. — Goodwin Living, a nonprofit, faith-based senior living and healthcare services organization in the Capitol Region, has named Josh Bagley executive director of The View Alexandria. Bagley has served as the interim executive director since Goodwin Living acquired the retirement community in August 2022. Located in the West End of Alexandria on a seven-acre campus, The View Alexandria is home to more than 100 residents, employs more than 100 team members and offers independent living, assisted living and long-term nursing care. Bagley began his career with Goodwin Living …

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Company NewsInvestmentNewsOperationsVirginia

Welltower, Retirement Unlimited Partner to Launch Luxury Elancé Brand

by Jeff Shaw

TOLEDO, Ohio and ROANOKE, Va. — Welltower Inc (NYSE: WELL) and Retirement Unlimited Inc. (RUI) have formed a partnership under which RUI will operate luxury seniors housing communities under a newly launched Elancé brand. Welltower, a Toledo-based REIT, installed Roanoke-based RUI as the operator of Fountains at Washington House in Alexandria, Virginia in November. Following the change, the property was renamed Elancé at Alexandria and became the first community under the new banner. The two companies have planned a “significant expansion in the programmatic relationship between Welltower and RUI” in …

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Active AdultDevelopmentFinanceNewsVirginia

Northmarq Arranges $38.1M Construction Financing for 176-Unit Active Adult Community in Midlothian, Virginia

by Jeff Shaw

MIDLOTHIAN, Va. — Northmarq’s debt and equity team of Keith Wells, Hunter Wood, Reina Abboud, and Mike Lowry have arranged a $38.1 million loan for the construction of Lake Forest at Swift Creek in Midlothian, approximately 15 miles west of Richmond. The Holladay Corp. is developing the four-story, 176-unit active adult community on 11.7 acres. Sandy Spring Bank provided the funds. The development is scheduled for completion in 2024.

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AcquisitionsNewsVirginia

Blueprint Brokers Sale of Five-Property Portfolio in Virginia

by Jeff Shaw

VIRGINIA — Blueprint Healthcare Real Estate Advisors has negotiated the sale of five seniors housing communities located in the Blue Ridge Mountains of Virginia. The properties total approximately 250 units. Three of the assets were constructed between 1997 and 2002, one was built in the early 1980s, and the last is a historic landmark dating back to 1916. A publicly traded REIT sold the assets to a family office experienced in turnaround projects. The price was not disclosed.

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AcquisitionsAssisted LivingNewsVirginia

CBRE Negotiates Sale of HarborChase of Prince William Commons in Woodbridge, Virginia

by Jeff Shaw

WOODBRIDGE, Va. — CBRE National Senior Housing’s investment properties team has arranged the sale of HarborChase of Prince William Commons, a Class A seniors housing community in Woodbridge, a suburb of Washington D.C. Built in 2018, HarborChase of Prince William Commons is a three-story building with 127 units of assisted living, transitional memory care and memory care units. John Sweeny, Aron Will, Garrett Sacco and Scott Bray represented the sellers, Silverstone Senior Living and Lionstone Investments. Although the price was not disclosed, CBRE National Senior Housing’s debt and structured finance …

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AcquisitionsNewsVirginia

CareTrust REIT Sells Five Communities in Virginia for $13M

by Jeff Shaw

VIRGINIA — CareTrust REIT Inc. (NYSE: CTRE) has sold five seniors housing facilities in Virginia for $13 million. The facilities total approximately 240 units. In connection with the completion of the sale, the facilities were removed from the company’s applicable master lease with affiliates of Noble Senior Services. The buyer was a regional owner-operator of assisted living and memory care facilities. “The sale of these five facilities continues our plan to de-risk the portfolio,” says Dave Sedgwick, president and CEO of CareTrust. “We continue to move forward towards selling or …

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