Senior Housing
TODAY’S DEALS: ARA Seniors Housing Completes Georgia Class A Sale
PREI buys a seniors housing asset in an ARA-brokered sale; Beech Street closes $17.2 million for a 456-unit asset in Florida; and Commercial Mortgage Capital secures a $23 million construction loan.
Arts-Oriented Seniors Housing Completed in Long Beach
Long Beach Senior Arts Colony, a development of Meta Housing Corp., has been completed. The property is a new-construction TOD with 200 units designed to provide affordable housing for seniors.
High-Tech Memory Care/Assisted Living Property Completed in Suburban Texas
Developers PinPoint Commercial L.P. and Thrive Senior Living have completed Legacy at Bear Creek, a 78-unit assisted living and memory care facility in the affluent Fort Worth suburb of Keller.
Target Demographic: Active Adults
Fifty-five to 75-year-olds like many of the same things as the hipster generation…
Emeritus to Operate Merrill Gardens’ Seniors Portfolio
Seniors housing specialist Emeritus has inked a deal to take over operation of 38 properties currently run by Merrill Gardens.
Construction Begins on Seniors Housing in Brooklyn
Developer CPC Resources Inc. has joined forces with Ground Community HDFC, East Brooklyn Congregations, Common St. Paul Community Baptist Church, the U.S. Department of Housing and Urban Development and the New York State Homes and Community Renewal on construction of Redwood Senior Living in the East New York section of Brooklyn.
Seniors Housing Development Nears Completion in Metro Cleveland
Work is nearly complete on Emeritus at Newell Creek, a seniors housing property in Mentor, Ohio.
Connecticut’s Augustana Homes Preserved as Affordable
Augustana Homes, a 186-unit affordable senior apartment community in Bridgeport, Ct., will receive $4 million in improvements and renovations, and will be preserved as affordable for an additional 30 years.
JV Opens Brand New Elegant and Affordable Housing for Low-Income Seniors
An affordable housing community for low-income seniors at the brand new Canby Woods, 7238 Canby Avenue, Reseda, has broken ground.
L.A. Hospital Redeveloped into Affordable Seniors Housing
The first phase of Linda Vista Senior Apartments, which is part of the redevelopment of a former hospital in Los Angeles, has opened.