DOYLESTOWN, Pa. — Newmark Knight Frank (NKF) has arranged the sale of and financing for Solana at Doylestown, located in the Philadelphia suburbs. The 98-unit seniors housing community opened in 2014 and was 96 percent occupied at the time of sale. Ryan Maconachy and Chad Lavender of NKF represented the seller, Atlanta-based Formation Development Group. A joint-venture between LCS Senior Living and Nuveen acquired the property for an undisclosed price. Sarah Anderson and Brittany Robinson, also of NKF, secured the financing on behalf of the buyer. Solana at Doylestown provides …
Pennsylvania
EXTON, Pa. — Capitol Seniors Housing has started construction of Arbor Terrace Exton, an assisted living and memory care community in Exton, a suburb of Philadelphia. The 78,000 square-foot community will feature 86 apartments located near major medical facilities, restaurants and shopping. Capitol expects to complete construction in winter 2020. The Arbor Company will operate the community upon completion. The designer on the project is Meyer Senior Living Studio.
WYNDMOOR, Pa. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Wyndmoor Hills, a 180-unit rental continuing care retirement community (CCRC). The community is located on 12 acres in Wyndmoor, an affluent suburb just north of Philadelphia. The building totals 214,288 square feet. Blueprint represented the court-appointed receiver for the sale of the financially distressed community. The receiver took over operational control and saw immediate improvement, allowing the property to be marketed as a value-add opportunity. A regional buyer with a track record for turnaround projects acquired the …
FORT WASHINGTON, Pa. — Acts Retirement-Life Communities, one of the nation’s largest nonprofit senior living organizations, has acquired an 80,000 SF office building in Fort Washington for an undisclosed price. Acts will move its headquarters to the building and will be the sole occupant. Acts will move its operations from West Point, just a few miles away. Both municipalities are northern suburbs of Philadelphia. Acts has operated out of its current headquarters since 1989. The office complex was built in 2006 and will serve Acts’ primary base of operations for …