Senior Housing
Economy Watch: Senior Home Builders More Optimistic
The National Association of Homebuilders said that its 55+ Single-Family Housing Market Index increased 19 points year-over-year to 46 in the first quarter of 2013.
TODAY’S DEALS: Health Care REIT Announces Big Investment Partnership
Health Care REIT will invest approximately $1 billion into a Canadian portfolio partnership; Morgan Properties and DRA acquire a 620-unit asset; and Marcus & Millichap arranges the sale of a distressed community in Tampa.
RUPCO Develops Affordable Housing Community in Woodstock
Rural Ulster Preservation Company has developed Woodstock Commons, a 12-building, 53-unit affordable housing community for families and seniors in Woodstock, N.Y., marking it the first new affordable housing in the area in more than 30 years.
Construction Completed on 173-Unit Seniors Community in Florida
Work has been completed on the initial phases of Providence Independence, a 173-unit (209-bed) senior housing property in Wildwood, Fla.
TODAY’S DEALS: Ridge Capital Joint Venture Acquires Napa Portfolio for $39.5M
Ridge Capital Investors LLC and Redwood Real Estate Partners acquire two properties south of downtown Napa, Calif.; and Greystone originates $28 million in bridge loans for two seniors communities.
MHN Interview: Centerline Capital Group’s New Director of Affordable Housing Debt James Boris
Centerline Capital Group, a subsidiary of Centerline Holding Company, recently hired James F. Boris III as director, affordable housing debt. MHN talks to Boris about his new position and his predictions for the affordable and seniors housing industry.
Affordable Seniors Multifamily Community Completed in N.Y. State
A new seniors housing community called Amber Grove has been completed in New Windsor, N.Y., about an hour’s drive north of New York City.
TODAY’S DEALS: Greystone Closes $43.8M for San Jose Asset
Greystone provides financing for a 434-unit community in San Jose; Enterprise Homes closes loans totaling nearly $30 million for two new affordable senior assets in Baltimore County; and Hudson Realty Capital funds a $5.5 million construction loan for a school conversion.
MHN Interview: Getting an Insider’s Perspective on Seniors Housing
In order to learn more about the useful design elements in seniors housing, the architects at D2 Architecture in Dallas have started the Sleepover Project, which allows them to spend a day at the facilities as a “resident” to learn more about the community.
Three Affordable Housing Properties to Benefit from $1.4M in Disaster Recovery Funds
The Broward County Housing Authority was awarded a $1.4 million grant by the Broward County Housing Finance and Community Development Division, which will be used to strengthen three of its multifamily rental communities to better withstand storms.