Senior Housing
TODAY’S DEALS: Archstone Buys 224-Unit Asset in Marina del Ray
Archstone acquires a 224-unit community in Marina del Ray, Calif.; Marcus & Millichap sells two New England assisted living facilities; and Transwestern negotiates the sale of a $4.3 million portfolio in Phoenix.
TODAY’S DEALS: JLL Closes $253M Sale of 103-Unit Historic Manhattan Apartment
JLL closes the sale of a 103-unit vintage Manhattan luxury building for $253 million; Red Mortgage Capital refinances three loans on Indiana seniors housing communities; and Northmarq arranges a $25 million Freddie Mac mortgage.
D.C. Seniors Housing Property Begins Rehab
Washington, D.C.–Jair Lynch Development Partners has closed on financing for the redevelopment of the Paul Laurence Dunbar Apartments, a 171-unit seniors-housing rental property.
Bell Divests Itself of Senior Living Communities
As it seeks to solidify its position as one of the nation’s premier multifamily companies, Bell Partners Inc. has completed a $300 million sale of almost all its senior living communities.
RealPage Acquires SeniorLiving.Net
Carrollton, Texas–RealPage, Inc. has acquired SeniorLiving.Net, an Internet lead-generation and placement network for the senior-housing market.
TODAY’S DEALS: IPA Sells Newly Constructed L.A. Community for $133M
IPA completes the sale of a newly constructed 438-unit property in Los Angeles for $133 million; Tryko picks up a campus of age-restricted properties in West Philadelphia; and GFI sells a rent-stabilized building in Brooklyn for $5.15 million.
Housing Council Changes Name to Reflect Age Requirements
The Irvine-based 50+ Housing Council of the Building Industry Association of Southern California changes its name to accurately reflect its age requirement.
Work Begins on Affordable Seniors Housing in Gurnee
Gurnee, Ill.–Credit Capital L.L.C., together with partner Richman Group, have underwritten a $20.2 million private equity investment to construct an affordable seniors-housing complex.
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.