Seniors Housing Business

FEB-MAR 2018

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

Issue link: https://seniorshousingbusiness.epubxp.com/i/945957

Contents of this Issue

Navigation

Page 18 of 56

Development 18 www.seniorshousingbusiness.com Seniors Housing Business n February-March 2018 combination of studio, one- and two-bedroom units. Wolff, an Arizona-based devel- oper, plans to open the three-story community in late 2018. Revel Eagle is the eighth senior living community that The Wolff Company has developed since 2016. The company plans to invest $300 million to $400 million an- nually in the development of new independent and assisted living communities, in addition to the purchase and renovation of exist- ing communities. LTC, Tealwood, Tukka to develop $23 million community in Wisconsin Cedarburg, Wis. — LTC Proper- ties Inc. (NYSE: LTC) has entered into a joint venture with affiliates of Tealwood Senior Living and devel- oper Tukka Properties to develop a $23 million independent living, assisted living and memory care community in the Milwaukee sub- urb of Cedarburg. Named Hamilton House, the property will offer a total of 110 units. Construction has already begun for a planned opening in spring 2019. LTC, a California-based REIT, is the capital partner on the develop- ment. Tealwood will operate the community under a triple-net lease once the property is opened. It is the first joint venture between the three companies, though LTC indi- cated that there will be more in the future. "We are delighted that Tukka is developing this property and are thrilled to welcome Tealwood Se- nior Living into our portfolio of operators," says Wendy Simpson, chairman and CEO of LTC. "We are excited about pursuing additional opportunities with them." Tealwood Senior Living started in 1989 and now has management and operational responsibilities in over 50 nursing home and assisted living communities across Min- nesota, Iowa, Nebraska and South Dakota. Tukka Properties is a de- veloper based in Madison, with both senior living facilities and oth- er projects around the state. John Pantone and Matthew Lund of Walker & Dunlop brokered the deal. CA Senior Living starts construction of 128-unit Atria community near Chicago Bolingbrook, Ill. — CA Senior Liv- ing LLC, the senior housing invest- ment and development division of Chicago-based CA Ventures, has started construction of Atria at Riv- er Trail, a 128-unit seniors housing community in the Chicago suburb of Bolingbrook. The development will offer a mix of 86 private and shared assisted living apartments and 42 memory care units. Louisville, Ky.-based Atria Senior Living will operate the community, which is scheduled to open in late summer 2018. Atria operates approximately 200 locations across the U.S. and Can- ada, including two near Chicago: Atria Park of Glen Ellyn and The WHO'S FIGHTING FOR YOU? Increase your census and maintain retention with the help of Patriot Angels! CALL TODAY! 844-757-3047 DID YOU KNOW? 41% OF YOUR CLIENTS ARE VETERANS OR WIDOWS! THERE ARE PENSION PROGRAMS, ALSO KNOWN AS AID AND ATTENDANCE, AVAILABLE TO WARTIME VETERANS AND THEIR SPOUSES! These programs can be used to offset the cost of senior living, making your community more affordable than ever! Pension Amounts Veteran: $1,830.00 Veteran and Spouse: $2,169.00 Surviving Spouse: $1,176.00 Veteran Married to a Veteran: $2,903.00 Tax free, monthly distribution. Patriot Angels will ensure that your clients receive the assistance they deserve, every step of the way! Visit www.PatriotAngels.com and start the process with us now! Or give us a call at 844-757-3047! Patriot Angels does not sell financial products to help your clients qualify! Contact our support team at www.patriotangels.com for additional informa tion. Atria at River Trail will feature 128 units of assisted living and memory care in the Chicago suburb of Bolingbrook.

Articles in this issue

Links on this page

Archives of this issue

view archives of Seniors Housing Business - FEB-MAR 2018