Pennsylvania

Terrace-at-Chestnut-Hill_Philadelphia
AcquisitionsAssisted LivingMemory CareNewsPennsylvania

Cushman & Wakefield Brokers Sale of 108-Unit Assisted Living, Memory Care Community in Philadelphia

by Hayden Spiess

PHILADLEPHIA — Cushman & Wakefield has brokered the sale of The Terrace at Chestnut Hill, a 108-unit assisted living and memory care community located in northwest Philadelphia.  MVJ Ventures acquired the property from an undisclosed seller. Brett Gardner, Joshua Jandris and Jason Skalko of Cushman & Wakefield represented the seller in the transaction. Jason Stroiman and Brendan DeSilva of Evans Senior Investments represented the buyer.  Originally built in 1987, The Terrace at Chestnut Hill was renovated in 2012. Viva Senior Living will operate the community, which was 85 percent occupied at …

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Assisted-Living-Portfolio
Assisted LivingFinanceNewsOhioPennsylvania

Berkadia Arranges $114.4M Refinancing for Assisted Living Portfolio in Ohio, Pennsylvania

by Hayden Spiess

NEW YORK CITY — Berkadia has arranged $114.4 million in refinancing for an assisted living portfolio located in Ohio and Pennsylvania. A joint venture between New Perspective Senior Living and an undisclosed seniors housing owner was the borrower.  Totaling 580 units, the portfolio is located in metro Cleveland and western Pennsylvania. As of January 2025, occupancy throughout the portfolio was 86 percent. The joint venture acquired the portfolio in 2022.  Bloomfield Capital Partners provided the financing, which includes a two-year, interest-only bridge loan. Steve Muth, Garrett Sacco, Austin Sacco and Alec …

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FinanceNewsPennsylvaniaSkilled Nursing

MonticelloAM Provides $80M Financing for Skilled Nursing Portfolio in Pennsylvania

by Hayden Spiess

NEW YORK CITY — MonticelloAM, a New York City-based seniors housing and multifamily bridge lending platform, has, with firm affiliates, provided $80 million in financing for a skilled nursing portfolio in Pennsylvania.  The portfolio includes four facilities totaling more than 520 licensed beds.  In addition to a $75 million bridge loan, the financing includes a $5 million working capital line of credit. Loan proceeds will be used by the borrower to acquire the facilities, fund the interest reserve and complete renovations at the properties. The financing features a 36-month initial term …

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Farmhouse-Village-Plan_Millersville-Pa
AcquisitionsDevelopmentNewsPennsylvania

Burkentine Real Estate Group Acquires 67 Acres in Pennsylvania for Senior Living Development

by Hayden Spiess

MILLERSVILLE, Pa. — Burkentine Real Estate Group has acquired 67 acres in Millersville, with plans to develop a senior living community at the site. HHF Real Estate sold the land to Burkentine for $7.9 million.  Upon completion, the development — Farmhouse Village — will feature 420 age-restricted rental homes, including a mix of townhomes and condominiums. Plans also include a 75-bed health care facility.  Matt Wolf of The Kislak Co. arranged the land sale on behalf of the seller. 

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Messiah-Village_Mechanicsburg-Pa
DevelopmentFinanceNewsPennsylvania

Ziegler Provides $82.3M Bond Financing for CCRC in Southern Pennsylvania

by Hayden Spiess

MECHANICSBURG, Pa. — Ziegler has provided $82.2 million in bond financing to borrower Messiah Lifeways, a Pennsylvania-based nonprofit that owns and operates Messiah Village, a continuing care retirement community (CCRC) in Mechanicsburg.  Messiah Village serves more than 700 residents on an 85-acre campus, which it has occupied since 1978. The community was originally founded in 1896. In addition to 375 independent living units, 88 personal care units and 76 memory care units, the property features 100 skilled nursing beds and 18 skilled nursing memory support beds.  Proceeds from the bonds will …

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Charter-Senior-Living_West-Chester-Pa
DevelopmentNewsPennsylvania

Charter Senior Living, Paradise Management to Develop 162-Unit Community in Pennsylvania

by Hayden Spiess

WEST CHESTER, Pa. — Charter Senior Living and Paradise Management are partnering on the development of a new community in West Chester.  Upon completion, the community — Charter Senior Living of West Chester — will total 162 units, including 59 independent living, 71 assisted living and 32 memory care apartments. Construction is currently underway. Completion of the development is scheduled for late 2027, with leasing to begin in late 2026.  “We’re thrilled to partner with the outstanding team at Paradise to bring this exciting new senior living option to West Chester,” …

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New JerseyNewsPennsylvania

Viva Senior Living Assumes Management of Four Northeast Communities

by Hayden Spiess

NORWOOD, N.J. — Viva Senior Living has assumed management of four communities located in New Jersey and Pennsylvania.  The communities include Belle Reve Senior Living in Milford, Pennsylvania; Heritage Hill Senior Community in Weatherly, Pennsylvania; Cardinal Village in Sewell, New Jersey; and Viva Senior Living at Cross Keys in Glassboro, New Jersey.  Logos Living Capital, along with affiliates, acquired the properties and engaged Viva to serve as the operator.  New Jersey-based Viva’s management portfolio comprises 40 senior living communities across the East, Southeast and Midwest. 

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Devon-Senior-Living_Devon-Pa
AcquisitionsAssisted LivingMemory CareNewsPennsylvania

Juniper Communities Acquires 90,865 SF Property in Pennsylvania

by Hayden Spiess

DEVON, Pa. — Juniper Communities has acquired  The Devon Senior Living in Devon, a suburb located roughly 20 miles northwest of downtown Philadelphia. Totaling 90,865 square feet, the property features 65 assisted living apartments — called “personal care” apartments in the state of Pennsylvania — and 13 memory care units.  Originally developed in 1892 as the Eliza Cathcart Home and expanded in 1896, the property was fully renovated this year. Juniper plans to implement additional design and program enhancements at the community, which has been renamed Juniper Village at Devon.

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FinanceGeorgiaNewsPennsylvania

BWE Arranges $52M Bridge Financing for Senior Living Portfolio

by Hayden Spiess

ATLANTA and PHILADELPHIA — BWE has arranged a $52 million bridge loan to finance a portfolio of senior living communities located within the Atlanta and Philadelphia metros.  The portfolio comprises independent living, assisted living and memory care properties.  Ryan Stoll and Taylor Mokris of BWE secured the three-year, floating-rate financing on behalf of the undisclosed borrower. 

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Eagleview-Landing
DevelopmentIndependent LivingNewsPennsylvania

Hankin Group Announces $67M Expansion at Community in Metro Philadelphia

by Hayden Spiess

EXTON, Pa. — Vertically integrated real estate company Hankin Group has announced plans for a $67 million expansion project at Eagleview Landing, its senior living community in Exton, roughly 30 miles west of Philadelphia.  Upon completion, the expansion will add 117 independent living residences to the property, which currently totals 107 assisted living and memory care units, with 9,000 square feet of amenity space.  The new building will also feature additional amenity space, including a fitness center, indoor pool, spa, theater, game rooms and golf simulator. Residents will also have access …

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