BEDFORD, DANVILLE and ROANOKE, Va. — Bowery Investment Partners has acquired three senior living communities in Virginia. The communities include Cardinal Senior Living at Bedford, Cardinal Senior Living at Danville and Cardinal Senior Living at Roanoke. Together, the properties total 164 assisted living and memory care units. Moving forward, the communities will operate as Riverstone Senior Living at Bedford, Riverstone Senior Living at Danville and Riverstone Senior Living at Roanoke. Viva Senior Living has been chosen to operate the communities on behalf of Bowery.
GLEN ALLEN, Va. — Ziegler has closed approximately $171 million in bond financing for Virginia Baptist Homes doing business as LifeSpire of Virginia. Based in Glen Allen, the nonprofit company owns and operates five continuing care retirement communities in Virginia. LifeSpire’s properties include Lakewood in Richmond, The Culpeper in Culpeper, The Chesapeake in Newport News, The Glebe in Daleville and The Summit in Lynchburg. Together, the communities total 952 independent living, 225 assisted living, 108 memory care and 226 skilled nursing units. Proceeds from the bonds will be used to refund …
NORTH PALM BEACH, Fla. — AgeWell Senior Living has assumed the management of seven communities located in Virginia and South Carolina. The properties include communities in Berryville, Fishersville and Harrisonburg, Virginia, as well as communities in Camden, Fort Mill, Harstville and Indian Land, South Carolina. “We are excited to welcome these communities to AgeWell,” says David Mills, president and chief operating officer of Florida-based AgeWell. “This expansion reflects our commitment to thoughtful growth and our belief that strong community operations begin with exceptional resident and team member experiences.” Established in 2009, …
FREDERICKSBURG, Va. — Watercrest Senior Living Group, with partners Harbert Seniors Housing Fund II and Centric Development, has opened a new luxury senior living community in Fredericksburg, roughly 60 miles north of Richmond. Totaling 142 units, Watercrest Fredericksburg Assisted Living and Memory Care opened in early April. The community features 106 assisted living and 36 memory care apartments. As of mid-May, memory care units at the property were 55 percent occupied, and assisted living units were 35 percent occupied. Watercrest began development of the community in fall 2024. Watercrest and Harbert Seniors Housing …
RICHMOND, Va. — Blueprint has arranged the sale of a 122-unit senior living property located in Richmond. Built in 1987, the community features independent living residences. A publicly traded company sold the property for an undisclosed price. Kyle Hallion, Kory Buzin, Ben Firestone and Steve Thomes of Blueprint represented the seller in the transaction.
CHESAPEAKE, Va. — Commonwealth Senior Living has announced plans for an expansion at Commonwealth Senior Living at Cedar Manor in Chesapeake. With the expansion, which will add 24 assisted living apartments, the community will total 85 units, with capacity to serve 126 residents. The new assisted living units will include 10 one-bedroom apartments and 14 studio apartments. Construction is scheduled for completion in August 2027, and the community will remain fully open throughout the project. Commonwealth’s portfolio includes communities in Connecticut, Michigan, Pennsylvania, Maryland and Virginia.
ALEXANDRIA, Va. and NORTH BETHESDA, Md. — Chiron Real Estate (NYSE: XRN) has entered into purchase agreements to acquire three senior living communities. Chiron is acquiring the properties from affiliates of Silverstone Senior Living for an aggregate price of $425 million. The acquisitions mark the REIT’s first entry into the seniors housing sector. “We believe this is an attractive time to enter the sector, given the favorable long-term demand outlook and limited new supply,” says Mark Decker, chief executive officer of Chiron. “Each of our acquisition communities are newly constructed and …
NEW YORK CITY — Morgan Stanley Investment Management, through funds managed by Morgan Stanley Real Estate Investing (MSREI), and Foundry Commercial have completed the sale of a portfolio of 11 communities within the Spring Arbor Senior Living collection. An undisclosed buyer purchased the communities for $296 million. Located in Maryland and Virginia, the properties total 795 assisted living and memory care units. According to Morgan Stanley, the communities surpassed 90 percent occupancy in recent years. Foundry will continue to operate the properties through its affiliated Allegro Living platform. This marks the …
CHICAGO — Blueprint has brokered the sale of a skilled nursing portfolio totaling 570 beds in Virginia. Three of the four properties were originally constructed in the 1970s. The other facility was developed in 2005. Michael Segal, Jacob Gehl, Ryan Chase, Daniel Waldhorn and Dillon Rudy of Blueprint arranged the transaction on behalf of the seller, a REIT. Blueprint’s marketing process initially drew 14offers from potential buyers. A New York-based owner and operator was selected as the buyer after several rounds of bidding.
MECHANICSVILLE, Va. — Investment firm Clarion Partners has acquired Sancerre at Atlee Station in Mechanicsville, marking the first seniors housing acquisition for the company. NexCore Group sold the property for an undisclosed price. Experience Senior Living, a subsidiary of NexCore, will continue to operate the community. Opened in September 2023, Sancerre at Atlee Station totals 103 units, with independent living, assisted living and memory care options. BWE investment Sales, an affiliate of BWE, facilitated the transaction. “Senior housing is a high-conviction strategy for Clarion,” says Julie Robinson head of healthcare at …
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