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.
Master Plan Brings Green to SoCal Desert
Family Development and Presidio Residential Capital have received the go-ahead for a 660-acre development in Riverside County, Calif. Comprising apartments, condominiums, townhomes and single-family homes, the project would be the first of its kind in the Coachella Valley.
SALT Cooks Up Luxury Living
The company has completed a $100 million community in downtown Salt Lake City. Greystar is managing the 493-unit property, which features a sports club, heated spas and a yoga and spin room.
Granite Investment Buys OR Memory Care Portfolio
Avalon Health Care Group will manage the two facilities, which mark Granite’s first Oregon deal.
Berkadia Taps Senior Housing Lead
With nearly two decades of industry, Tim Cobb joins the firm’s D.C. office as managing director & senior housing and health care investment sales lead.
Berkadia Closes Record Sale in Encinitas
Property West Residential purchased a 120-unit community in San Diego County for $53 million from Equity Residential.
Tradition Senior Living Enters Houston
The company broke ground on a 316-unit community slated for completion in late 2018. The two-building property will offer a continuum of care, including independent living, assisted living and memory care.
Bellwether Secures $75M Refi for Luxury Inland Empire Asset
The company arranged a $59 million permanent loan and a $16 million mezzanine loan for a 298-unit community asset in Ontario, Calif.
Medistar Brings Transitional Care Facility to North Houston
Pi Architects are currently designing the 104-bed asset, which will provide various services, including skilled nursing focused on short-term rehabilitation care, assisted living and memory care.
Capital One Closes $12M HUD Loan for Portland Skilled Nursing Facility
The financing proceeds will refinance a comprehensive renovation program of the 128-bed property in Gresham, Ore.