Senior Housing
Cleveland Hotel to be Converted Into Senior Housing
The Lake County Ohio Port and Economic Development Authority completed a $49 million bond financing packaging for Tapestry Wickliffe to transform the building.
Palace Group Unveils FL Luxury Senior Housing
The Palace at Weston Senior Living will feature 300 studios and one- and two-bedroom independent living, assisted-living and memory-care apartments. The project is scheduled to break ground in 2018 and be completed in 2019.
NY Nursing Facility Lands $25M Refi
Greystone provided the HUD-insured loan for Adira at Riverside Rehabilitation & Nursing in Yonkers, N.Y. The financing carries a 30-year term at a low, fixed rate.
Marcus & Millichap Sells $23M Senior Community in Sandy, UT
Located between Salt Lake City and Provo, Rosegate Sandy broke ground in 2013. The 159-unit asset is located in a submarket that has seen more than seven percent population growth since 2010.
Sienna Lines Up Ontario Retirement Portfolio Deal
The company purchased two luxury retirement properties comprising comprising 380-plus units and more than 380,000 square feet for $160 million.
Bay Area Senior Living to Break Ground
Embarking on a five-year, multi-phase project, Wilson Investment Properties will build Paradise Value Estates, a 140-unit assisted living community in Fairfield, Calif.
Queens Nursing Facilities Land $54M Refi
With a total of 576 units, both properties are part of the SentosaCare network. Greystone provided the HUD-insured mortgage loans for the two highly specialized assets.
TD Bank Invests in Affordable Philly Community
The bank provided a $9.1 million construction loan and purchased $12.0 million in federal tax credits. The money will be used to redevelop a nursing home into a 60-unit affordable housing project for seniors.
Bellwether Closes $42M for 3 Affordable Properties
The properties, all in Charlotte, N.C., include the 381-unit Southside Homes, the 176-unit Edwin Tower and the 161-unit Charlottetown Terrace.
PB Bell Begins Construction on AZ Senior Housing
In partnership with Cadence Senior Living, the company is developing Inspira Arrowhead, a 165-unit senior housing community in Glendale, Ariz., that will feature both independent living and memory care apartments.