Seniors Housing Business

JUL 2018

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

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Page 15 of 40

Development 15 July 2018 n Seniors Housing Business The rehabilitation project rede- signed the units and added several amenities, such as a fitness center, business center, upgraded laundry facilities, exam room, community room, recycling center, covered ter- race and outdoor patio. Building improvements and upgrades in- cluded energy efficient façades and exterior walls, new plumbing sys- tems, two new elevators, new win- dows, upgraded electrical systems, energy efficient appliances, HVAC systems and more. Surber Barber Choate + Hertlein Architects, Long Engineering and J.M. Wilkerson Construction Co. Inc. make up the development team. Financing was secured through partnerships with Wells Fargo, Sugar Creek Capital and the Atlanta Housing Authority. Leisure Living breaks ground on $23 million community in Michigan Forest Hills, Mich. — Leisure Living Management has broken ground on Cascade Trails Senior Living, a 104-unit independent liv- ing, assisted living and memory care community in the Grand Rap- ids suburb of Forest Hills. The community will be Grand Rapids-based Leisure Living's 26th in Michigan. Development costs were estimated at $23 million. The property will feature 54 in- dependent living apartments, six independent living townhomes, 30 assisted living units and 14 mem- ory care units. The property is lo- cated on an 18-acre campus. The community is slated to open in 2020. PMRG buys plot for $40 million community near Dallas McKinney, Texas — PMRG has acquired a plot of land in the Dallas suburb of McKinney for the devel- opment of Hidden Springs, a 200- unit independent living, assisted living and memory care commu- nity. The 215,000-square-foot commu- nity is scheduled for completion in July 2019. Development costs were estimated at $40 million. The prop- erty will feature 132 independent living units, 40 assisted living units and 28 memory care units. Headquartered in Houston, PMRG is a full-service com- mercial real estate firm, offering property services, development and acquisitions. The company's portfolio spans 30 markets and includes commercial office build- ings, mixed-use centers, corporate headquarters, industrial build- ings, medical facilities, high-rise multifamily buildings and re-ap- propriated military facilities. CA Senior Living starts construction of 122-unit expansion near Seattle Lynnwood, Wash. — CA Senior Living has started construction of a 122-unit expansion at Quail Park of Lynnwood, a seniors housing community in the Seattle suburb of Lynnwood. The project will add 96 assisted living apartments, as well as 26 in- dependent living units split among 13 duplex cottages. Sixteen of the new assisted living apartments Capital Funding, LLC Capital Funding, LLC and Capital Fianance, LLC are wholly-owned subsidaries of CFG Community Bank. CFG Capital Markets, LLC: Member FINRA/SIPC Capital Finance, LLC Jeffrey Stein, Executive Managing Director 410.513.8736 Erik Howard, Managing Director 410.513.8728 As one of the nation's leading healthcare lenders over the past 30 years, Capital Funding Group provides creative, structured financing solutions for our clients. Whether bridge-to-HUD, subordinate/mezzanine, working capital, or HUD-insured loans, CFG has all the necessary tools to help you fund any transaction. bridge loans commercial banking investment advisory services HUD loans spend management subordinate/mezzanine debt working capital lending THE ORIGINAL ONE-STOP SHOP HEALTHCARE FINANCING FOR

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