GLEN ALLEN, Va. — HJ Sims has arranged $93.4 million in financing for LifeSpire of Virginia, a continuing care retirement owner-operator based in Glen Allen. LifeSpire currently owns and operates four life plan communities in Virginia: The Chesapeake, The Culpeper, The Glebe and Lakewood. The financing provided funds for the acquisition The Summit in Lynchburg, for capital projects Lakewood and The Culpeper, and to refinance existing bank debt with permanent bond debt. The seller in the Summit transaction is Centra Health System. The $30.3 millionsale also includes adjacent developable land …
HENRICO, Va. — Anthology Senior Living has opened Anthology of Tuckahoe, a 150-unit seniors housing community in Henrico, a suburb of Richmond. The community features independent living, assisted living and memory care services. According to a recent report by the U.S. Census Bureau, more than 15 percent of the Henrico County population has already reached age 65 and older, a number that will continue to climb as the baby boomers age.
WILLIAMSBURG, Va. — Ziegler has arranged $58.2 million in a mix of bond financing and loans for WindsorMeade Williamsburg, a continuing care retirement community in Williamsburg. The community sits on an approximately 105-acre campus that currently consists of 181 independent living units, 14 assisted living units, 18 memory support units and 22 skilled nursing beds. All of the skilled nursing beds are Medicare certified and WindsorMeade is in the application process to receive Medicaid certification. In 2013, faced with liquidity and occupancy challenges, WindsorMeade reached an agreement with a majority …
ALEXANDRIA, Va. — Trammell Crow Co. (TCC) plans to develop a 383,000-square-foot mixed-use development in Alexandria. Located at 765 John Carlyle St., the Class A project will include a 268,000-square-foot seniors housing property and a 115,000-square-foot medical office building. The buildings will be constructed above a common podium, offering a mix of retail uses and a 440-space parking garage. Construction is slated to begin in the third quarter of 2022 for completion by the end of 2024. The 18-story seniors housing building will include approximately 215 residences that will offer …
RURAL RETREAT, Va. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Carrington Place at Rural Retreat, a 120-bed skilled nursing facility in the western portion of Virginia, near the North Carolina and Tennessee borders. The property is a dually certified facility constructed in 2015. Census stabilized shortly after opening and the operator subsequently executed its below-market option to acquire the real estate. The operator then decided to exit and take advantage of Virginia’s red-hot acquisition market. The chosen buyer was an owner-operator based in the Northeast and …
RICHMOND and VIRGINIA BEACH, Va. — Blueprint Healthcare Real Estate Advisors has arranged the sale of two memory care communities in Richmond and Virginia Beach ProMedica acquired the assets with ownership partner Welltower for $31 million. The seller was not disclosed. The portfolio included two fully stabilized communities that boasted high occupancy and above-market rates. The Memory Center Richmond consists of 48 units and opened in 2015 while The Memory Center Virginia Beach consists of 48 units and opened in 2008.
TYSONS, Va. — Mather has started pre-sales for the second phase of The Mather, a Life Plan Community in Tysons, a suburb of Washington, D.C. The second phase is known as the South Building. The two high-rise buildings of the development include one with 186 apartments (Phase I, projected to open in 2023) and another with 114 apartments (Phase II, projected to open in 2024), which will be connected by a multi-story concourse with amenity spaces. Phase I is currently 80 percent pre-sold. Entrance fee pricing starts at $646,700, with …
RICHMOND, Va. — EquityPlus LLC has successfully sold $16 million in bonds issued by the Richmond Redevelopment & Housing Authority. Proceeds from the bond sale will finance renovations to the Shockoe Hill Senior Apartments, an affordable seniors housing complex owned by Capital Realty Group in Richmond. The financing will also fund a new community wellness center for its residents. The bonds were purchased in their entirety by Cedar Rapids Bank & Trust of Iowa ($10.5 million) and Capital Realty Group ($5.5 million). EquityPlus identified the buyers, coordinated closing and will …
CHESAPEAKE, Va. — Standard Communities, the affordable housing division of Standard Cos., has acquired Chesapeake Crossing, a 597-unit mixed-income community for seniors in Chesapeake, located near the coast and the North Carolina border. The total capitalization of the transaction is approximately $68 million, including renovations and other costs. Standard is rebranding the property as Starling Village and plans to make $7.5 million in renovations. “With this acquisition, Standard has acquired over 3,000 units in the Mid-Atlantic region, including approximately 1,500 in Virginia,” says Scott Alter, principal and co-founder of Standard …
VIRGINIA BEACH, Va. — Pembroke Realty Group and Beth Sholom Village have announced plans for a seven-story seniors housing community in Virginia Beach. The new building, which does not yet have a name, will feature 124 independent living apartments, 20 assisted living apartments and 12 memory support units. Kahler Slater Architects and CJMW Architecture designed the property, which is scheduled to open in fall 2023.