Seniors Housing Business

AUG-SEP 2015

Seniors Housing Business is the magazine that helps you navigate the evolution of the seniors housing industry.

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Page 17 of 87

18 Seniors Housing Business n August-September 2015 Development ACTIVELY INVESTING IN SENIOR LIVING H A R R I S O N S T R E E T Focused Investments in Education, Healthcare & Storage Real Estate 71 SOUTH WACKER DRIVE, SUITE 3575 CHICAGO, ILLINOIS 60606 W W W.HARRISONST.COM | 312.920.050 0 Since 2006 we have acquired or developed over $3.3 billion in senior housing properties nationwide. As one of the largest private equity investors in the senior housing space we continue to actively seek acquisition and development opportunities. Funding for the project was obtained through Justin Hitchcock at Community National Bank and Trust of Texas in Weatherford. Donica Construction and Development will develop the community. The building plans include 38 assisted living suites and one-bedroom units, and 24 private and semi-private memory care units. Clear Fork Senior Living will be owned and managed by Civitas under the leadership of Wayne and Misti Powell. This develop- ment will be the 13th property in the company's portfolio. Based in Fort Worth, Civitas Senior Living specializes in devel- opment, acquisitions, operational management and consulting for seniors housing properties. Granite sells plot in California to seniors housing developer for $5.7 million Palm Desert, Calif. — An affli- ate of Granite Investment Group has sold 6.8 acres of land in Palm Desert for $5.7 million to WL Palm Desert Property LLC, a wholly owned subsidiary of seniors hous- ing developer and operator West Living LLC. West Living has designed a prominent 150-unit assisted living facility, with a memory care com- ponent, which it will construct on the property. Located at the southwest corner of the intersection at Country Club Drive and Portola Avenue, an additional 6.4 acres of land zoned for seniors-related use remains available for sale. Based in Irvine, Calif., Granite Investment Group currently man- ages a portfolio of commercial real estate assets valued at approxi- mately $540 million, primarily comprised of seniors housing com- munities that offer a total of 4,442 licensed beds. Sunrise opens new assisted living community near Columbus Dublin, Ohio — Sunrise Senior Living has completed construction on its newest seniors housing com- munity, Sunrise of Dublin. The community, located in Dub- lin just northwest of Columbus, is Sunrise's 11th community in Ohio. Comprising 66,000 square feet and 80 units, Sunrise of Dublin will offer assisted living and memory care, including special- ized services for younger-onset Alzheimer's Disease residents. Based in McLean, Va., Sunrise Senior Living operates 303 com- munities in the United States, Canada and the United Kingdom, including 15 Gracewell Healthcare communities, with a total unit capacity of approximately 27,200. Epoch, National Development open new memory care community in Massachusetts Mashpee, Mass. — A joint ven- ture of operator Epoch Senior Liv- ing and investment frm National Development has opened Bridges by Epoch at Mashpee, a memory care community near Cape Cod. The new community includes 54 units on 19 acres and is designed exclusively for residents with memory impairment. Architectural frm JSA Inc. of Portsmouth, N.H., designed the community, and the general con- tractor is Cranshaw Construction of Newton, Mass. Benchmark to break ground on $30 million Massachusetts assisted living community Woburn, Mass. — Benchmark Senior Living, a seniors housing developer, owner and opera- Continued from page 16 West Living has designed a 150-unit assisted living facility, which the company plans to build on a 6.8-acre plot it recently purchased in Palm Desert, Calif.

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