Senior Housing
TODAY’S DEALS: Toronto-Based Starlight Acquires Houston Apartments
Starlight U.S. Multi-Family Core Fund acquires a 257-unit asset in Houston; RED Capital Group provides $10.1 for the acquisition and rehab of a low income seniors housing asset; and Carroll Organization adds a multifamily asset to its Florida portfolio.
LaSalle Group to Break Ground on Chicago-Area Memory Care Community
The LaSalle Group will break ground on its ninth Chicago-area memory care community.
TODAY’S DEALS: Berkadia Arranges $146M for First Seniors Housing Early Index Lock Deal
Berkadia closes a first-ever seniors housing Early Index Lock transaction; Investor’s Bank closes 80 deals in 1Q14 with strong multifamily business; and Cohen Financial secures $16 million in equity for a condominium development in South Florida.
LaSalle Group to Develop Two Memory Care Properties in Austin Area
The LaSalle Group, which specializes in memory-care seniors housing, has broken ground on two properties in the Austin, Texas, area.
MHN Interview: Monica Makin, Urban Innovations, Vice President of Acquisitions and Asset Management
In her current position as vice president of acquisitions and asset management for Chicago-based Urban Innovations, Monica Makin is an advocate for expanding affordable housing opportunities for seniors, workforce and low-income residents.
USA Properties Fund Completes Rehab on LA Seniors Community
The renovation of Huntington Plaza Apartments, a 184-unit low-income seniors housing property in the Los Angeles suburb of Huntington Park, has been completed. The entire cost of the property’s acquisition and rehabilitation was $30.2 million.
MHN Interview: Michael Preston, Regional Director, National Church Residences
With more than 20 years of experience in social work, Michael Preston is a good judge of what kind of social support program actually makes a difference for disabled homeless and veterans. In his role as regional director of permanent supportive housing for Columbus, Ohio-based National Church Residences—the nation’s largest non-profit specializing in affordable senior housing—he’s involved in a fast-growing collaborative effort to help house those in need.
IPA Plans Another Phoenix Seniors Housing Development
Investment Property Associates and Retirement Community Specialists have partnered to develop a seniors property in the Ahwatukee neighborhood of Phoenix, near the southwest corner of Chandler Blvd.
TODAY’S DEALS: Miami Waterfront Development Site Trades Hands
ARA brokers a multifamily development site in Miami Beach, Fla.; Berkadia arranges $86 million for 15 seniors housing communities in North Carolina; and an Israeli insurance company acquires its first multifamily property in the United States for $48 million.
Affordable Seniors Apartments Unveiled in Citronelle, Ala.
AHEPA 310 of Citronelle, a new affordable senior housing complex in Citronelle, Ala., has been given its official opening ceremony.