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Erickson Senior Living Appoints Todd DeLaney as Executive Director of Avery Point in Short Pump, Virginia

by Jeff Shaw

SHORT PUMP, Va. — Erickson Senior Living has named Todd DeLaney as Avery Point’s first executive director. DeLaney will oversee daily operations for the community, which will open its 94-acre campus in the Richmond suburb of Short Pump in fall 2022. DeLaney started his career with Erickson Senior Living 17 years ago and has held a variety of leadership positions at multiple Erickson Senior Living communities. Most recently, he served as executive director of Cedar Crest in Pompton Plains, N.J. Before this role, he served as executive director and associate …

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CCRCDevelopmentFinanceNewsVirginia

Ziegler Arranges $193.2M Financing for Westminster Canterbury Richmond CCRC

by Jeff Shaw

RICHMOND, Va. — Ziegler has arranged $193.2 million in bond financing for Westminster Canterbury Richmond, a continuing care retirement community (CCRC) in Richmond. Opening in 1975 as one of the first CCRCs in Virginia, Westminster Canterbury Richmond has become one of the largest single-site campuses with 809 total units (487 independent living, 164 assisted living and 158 skilled nursing). In 2019, Westminster Canterbury Richmond announced the Vibrancy! Project, an expansion designed to enrich the community in all aspects. The project will be constructed in two major areas on the campus: …

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Assisted LivingDevelopmentNewsVirginia

Watercrest Nears Completion of 98-Unit Community in Richmond, Virginia

by Jeff Shaw

RICHMOND, Va. — Watercrest Senior Living Group has opened the sales office at Watercrest Richmond, a 98-unit senior living development in Richmond. Watercrest Richmond will feature 76 assisted living and 22 memory care. This is the first senior living development project partnered between Watercrest and Harbert Seniors Housing Fund II. Construction began in January 2021. An opening date was not released.

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AcquisitionsAssisted LivingNewsVirginia

CBRE Arranges $17M Acquisition Financing for Edgeworth Park at New Town in Williamsburg, Virginia

by Jeff Shaw

WILLIAMSBURG, Va. — CBRE has arranged $17 million in Freddie Mac acquisition financing for Edgeworth Park at New Town in Williamsburg, located between Richmond and Norfolk. The borrower is a joint venture between Solera Senior Living and Wheelock Street Capital. Built in 2017, the community consists of 62 assisted living and 21 memory care units. Aron Will, Austin Sacco and Tim Root of CBRE National Senior Housing arranged the seven-year, floating-rate loan with four years of interest-only payments. The seller and total price were not disclosed.

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CCRCFinanceNewsVirginia

Ziegler Arranges $18.9M Bond Refinancing for Kendal at Lexington in Virginia

by Jeff Shaw

LEXINGTON, Va. — Ziegler has arranged $18.9 million in bond financing for Kendal at Lexington, a continuing care retirement community in Lexington, a small city approximately 70 miles east of the West Virginia border. Kendal at Lexington was chartered in January 1995 on 84 acres in the Blue Ridge Mountains. Located roughly 1.3 miles from Washington & Lee University and Virginia Military Institute, Kendal at Lexington currently consists of 150 independent living units (55 apartments, 95 cottages), 19 assisted living units (includes one dual-occupancy unit) and 60 skilled nursing beds. …

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AcquisitionsAffordable HousingIllinoisMinnesotaNewsOhioOperationsVirginia

Evergreen Real Estate Group to Operate 1,377-Unit Portfolio in Illinois, Minnesota, Ohio, Virginia

by Jeff Shaw

CHICAGO — Chicago-based Evergreen Real Estate Group has been retained to manage multifamily communities comprising a total of 1,377 units across Illinois, Minnesota, Ohio and Virginia. The assignments include a mix of market-rate units and affordable housing for families, seniors and disabled individuals, expanding Evergreen’s management portfolio to more than 10,000 units throughout the U.S. “While some of the new management contracts were underway just before COVID-19, many started during the pandemic, and we have taken great care to help residents of each community navigate these uncertain times,” says Steve …

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CCRCFinanceNewsVirginia

Ziegler Arranges $53M Bond Financing for CCRC in Charlottesville, Virginia

by Jeff Shaw

CHARLOTTESVILLE, Va. — Ziegler has arranged $53 million in bond financing for Westminster-Canterbury of the Blue Ridge (WCBR), a continuing care retirement community in Charlottesville. WCBR is located 4.6 miles from the main campus of the University of Virginia and 5.4 miles from Thomas Jefferson’s Monticello. Since opening in 1990, WCBR has seen continual growth and expansion, currently offering 281 independent living units (221 apartments and 60 cottages), 45 assisted living units, 12 memory care beds and 52 nursing beds. The financing included two series of bonds, which will refund …

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CCRCNewsPeopleVirginia

Pinnacle Living Promotes Michael Shaw to Vice President of CCRC Operations

by Jeff Shaw

RICHMOND, Va. — Pinnacle Living has promoted Michael Shaw from an executive director position to vice president of continuing care retirement community (CCRC) operations. In this role, Shaw will support executive directors in the five Pinnacle Living communities across Virginia. He was previously the executive director at Cedarfield, a 90-acre CCRC in Henrico County, Virginia. Pinnacle hired Paul Gregg to fill the vacancy left by Shaw’s promotion. He holds a master’s degree in aging services and nonprofit management from North Carolina State University, as well as a bachelor’s degree from …

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AcquisitionsAssisted LivingLouisianaNewsVirginia

Quality Senior Living Partners Sells Two Communities in Louisiana, Virginia

by Jeff Shaw

HARAHAN, La., and CHARLOTTESVILLE, Va. — Quality Senior Living Partners (QSLP), a LongueVue Capital portfolio company, has sold two senior living communities: The Blake at Colonial Club in Harahan and The Blake at Charlottesville in Charlottesville. Each community features 118 units of assisted living and memory care. The buyer and price were not disclosed. In 2017, LongueVue partnered with the team of senior living industry executives at QSLP, a Pensacola, Fla.-based developer, owner and operator of upscale senior housing communities, to expand its resort-style communities to underserved markets.

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Active AdultDevelopmentNewsVirginia

Resort Lifestyle Communities Opens $30M Tuckahoe Pines in Richmond, Virginia

by Jeff Shaw

RICHMOND, Va. — Resort Lifestyle Communities (RLC) has opened Tuckahoe Pines Retirement Community, a seniors housing property in Richmond. Development costs were estimated at $30 million for the 180,000-square-foot community. Floor plans include studio, one-, two- and three-bedroom options. The type of care was not disclosed. This is the first RLC location in Virginia.

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