Passco Makes 2nd DC Purchase for $113M
The 360-unit luxury community in Alexandria, Va., is strategically located at the Huntington Metro Station and had a 92 percent occupancy rate at the time of the transaction.
Parc Takes a Walk in TX
Parc at Traditions, a 159-unit luxury senior community, marks the company’s first property in Texas. The asset is opening its doors this fall and will provide independent living, assisted living and memory care services.
Senior Community Coming to Calgary University District
West Campus Development Trust and The Brenda Strafford Foundation are developing Cambridge Manor, a 240-unit property in Canada. The facility is part of a 200-acre, master-planned sustainable development.
Maplewood Debuts Cape Cod Senior Housing
The 75-unit property is part of the Maplewood at Mayflower Place campus, a full-service continuing-care retirement community in West Yarmouth, Mass.
Silverstone Debuts Palm Beach Gardens Senior Housing
Harbor Retirement Associates operates the 120-unit property, which provides assisted living and memory care services, in addition to HarborChase of Southlake and HarborChase of The Park Cities, both of which are slated to open in the first quarter of 2018.
Inland Empire Asset Trades in 1031 Exchange
Providence Capital Group placed a non-contingent offer for the 140-unit community in Hemet, Calif., which traded for $15.5 million. Marcus & Millichap represented the seller and procured the buyer.
Affordable Senior Community Opens in Richmond, IL
The 25-unit community offers one- and two-bedroom apartments for $866 and $1,039, respectively, and is Energy Star Certified.
CBRE Closes Inland Empire Sale
Evart Street Apartments in Montclair, Calif., changed hands for $8.9 million, one of the highest per-square-foot prices for a multifamily property in the area, according to the brokers.
Boutique Project Hits SoMa
Developed by Align Real Estate and managed by Alliance Residential Co., 923 Folsom brings 115 residences to the San Francisco neighborhood.
The Senior Housing Boom’s Ripple Effect
Assisted living occupancy fell to its lowest in eight years, despite record absorption, according to NIC’s 2017 second quarter report. San Jose had the highest occupancy, while Detroit recorded the biggest rent growth.