Senior Housing
Indiana Seniors Housing Furthers City’s Redevelopment Plans
Mishawaka, Ind.–Sterling Development is partnering with Memorial Hospital of South Bend, Inc. to construct Heritage Place at LaSalle Square Senior Apartments in South Bend, Ind.
Construction Surging at Florida’s Mixed-Use Lakewood Ranch
Several projects totaling $100 million will be built this year at Lakewood Ranch, including a 380-acre neighborhood with 800 homes, 272 seniors apartments and a shopping center.
TODAY’S DEALS: Real Capital Solutions, Family Development Purchase Gated Adult Community
Real Capital Solutions and Family Development acquire a gated adult community in Palm Desert, Calif.; Silver Capital and McCann Partners acquire a 166-unit property in Zionsville, Ind.; and Marcus & Millichap sells a 22-unit asset for $2.3 million.
TODAY’S DEALS: Archstone Acquires 187-Unit Condo-Conversion for $80M
Archstone acquires a 187-unit condominium development; BPG Properties sells a 292-unit community in San Antonio; and Hendricks completes the sale of a 36-unit asset in Ohio.
Armstrong Place Rental and For-Sale Residences Completed
San Francisco–Armstrong Place, an affordable housing development in San Francisco, includes a rental community for seniors as well as below-market-rate homeownership options for first-time homebuyers.
TODAY’S DEALS: Prometheus Buys 342-Unit Property in Oregon
Prometheus completes a $51.2 million purchase of an Oregon community; Senior Living Investment Brokerage Inc. brokers the sale of 17 properties in one month; and HFF closes the sale of a Chicago Class A community.
Ground Breaks on Southern California Community Designed for 21st-Century Seniors
Long Beach, Calif.–Work has gotten underway on the Long Beach Senior Arts Colony, a 200-residence affordable housing community in Long Beach, Calif., designed by architectural firm Studio One Eleven to tailor to the demands of today’s seniors.
Ripple Effects of the Joplin Tornado on Surrounding Communities
Yarco Company’s Robert Schock shares with MHN some of the indirect human costs that are taking shape as people start to pick up the pieces shredded by the recent storms.
Rehab of Historic Affordable Seniors Housing Property in Richmond, Calif.
Richmond, Calif.–The Carquinez, a 36-unit affordable seniors housing apartment building in Richmond, Calif., has experienced a rebirth with the completion of a $9.5 million rehabilitation program.
TODAY’S DEALS: BCN Acquires Prime Manhattan Space for Condo Development
BCN Development signs prime Manhattan space for a new condo; Emeritus enters a purchase agreement with Blackstone for 24 assisted-living communities; and Beech Street Capital originates $12.65 million Fannie Mae loan for property in an improving area.