Senior Housing
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.
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.