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Assisted LivingDevelopmentNewsVirginia

Benchmark Plans 10-story, 115-Unit Community in Alexandria, Virginia

by Jeff Shaw

ALEXANDRIA, Va. — Benchmark Senior Living has unveiled plans for Benchmark at Alexandria, a 10-story senior living community in Alexandria. The property will feature 89 assisted living units and 26 memory care units. The site is located within West Alex, a mixed-use destination offering over 100,000 square feet of retail space in addition to apartments, condominiums, office space, a daycare and a school. “This project is really exciting because not only is Benchmark expanding into a new market, but this community will be an integral part of a lively mixed-use …

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NewsOperationsPeopleVirginia

Erickson Senior Living Promotes Melissa Robson to Executive Director of Greenspring in Springfield, Virginia

by Jeff Shaw

SPRINGFIELD, Va. — Erickson Senior Living has named Melissa Robson as executive director of Greenspring in Springfield. Robson has served as associate executive director of Greenspring since 2018. Robson, a registered nurse, has over 25 years of experience working in various health care settings. She holds a bachelor’s degree in nursing from Gardner-Webb University and a master’s in health administration from Pfeiffer University.

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AcquisitionsAssisted LivingMarylandNewsNorth CarolinaVirginia

Foundry Commercial Buys 24-Property Spring Arbor Senior Living Portfolio in Mid-Atlantic

by Jeff Shaw

ORLANDO — Foundry Commercial, in partnership with an investment fund managed by Morgan Stanley Real Estate Investing, has purchased the Spring Arbor Senior Living collection of 24 assisted living and memory care communities across the Mid-Atlantic. As part of the transaction, Foundry Commercial acquired the current operator, which will continue to manage the properties post-closing. The portfolio contains 1,424 units throughout Maryland, North Carolina and Virginia, with capacity for more than 1,800 residents. The Spring Arbor platform will continue operations under the Spring Arbor Senior Living brand. Capital Funding arranged …

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DevelopmentNewsVirginia

Watermark, Silverstone Open $100M The Landing in Alexandria, Virginia

by Jeff Shaw

ALEXANDRIA, Va. — Watermark Retirement Communities and Silverstone Senior Living have opened The Landing, a seniors housing community in Alexandria. Development costs are estimated at $100 million. The project is located within South Potomac Yard, nearby to National Landing, Virginia Tech’s Innovation Campus and the future Inova Oakville Healthplex as well as the soon-to-be-open Potomac Yard Metro Station. Construction began in 2020 on the nine-story building. The Landing features 163 apartments with 40 units dedicated to independent living, 89 units to assisted living and 34 units to memory care. The …

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AcquisitionsNewsVirginia

Goodwin House Acquires Hermitage Northern Virginia from Pinnacle Living

by Jeff Shaw

ALEXANDRIA, Va. — Goodwin House Inc. (GHI) has acquired Hermitage Northern Virginia, a senior living community in Alexandria. The community is home to 100 residents across its independent living, assisted living and skilled nursing units. Pinnacle Living sold the asset for an undisclosed price. The Hermitage Northern Virginia seven-acre campus is located in the west end of Alexandria. The campus includes several structures as well as a top-floor community room with views of Washington, D.C. for private gatherings.

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NewsOperationsPeopleVirginia

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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