Seniors Housing Business

FEB-MAR 2018

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

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Page 19 of 56

Development 19 February-March 2018 n Seniors Housing Business Solana Deer Park. Construction is also underway on a third commu- nity, Atria Glenview, in Glenview. The Chicago office of Harley Ellis Devereaux designed the property. CA Senior Living opened its first seniors housing community in 2016 and now has 16 communities oper- ating or under construction. OneStreet Residential opens $21.6 million age-restricted community near Atlanta Duluth, Ga. — OneStreet Resi- dential has opened MainStreet Breckinridge, a $21.6 million ac- tive-adult community in the Atlan- ta suburb of Duluth. Residents must be age 62 or older. MainStreet Breckinridge will offer 110 one- and two-bedroom apart- ments, with 20 percent of the apart- ments available to residents of any income and 80 percent available to those with incomes not exceeding 60 percent of Atlanta's median in- come. MainStreet Breckinridge is the third MainStreet branded property in the Atlanta metropolitan area. The other two properties — located in Braselton and Winder — have been at full occupancy since open- ing their doors in 2013 and 2014, respectively. MainStreet Breckinridge is a joint venture between OneStreet Resi- dential and the Charlotte Mecklen- burg Housing Partnership. Foley Design Associates Architects de- signed the project, which Swiner- ton Builders constructed. Cushman & Wakefield arranges $20.6 million construction loan for community in Sonoma County Rohnert Park, Calif. — Cushman & Wakefield's Senior Housing Cap- ital Markets Group has arranged $20.6 million in construction fi- nancing for Clearwater at Sonoma Hills, a 90-unit assisted living and memory care community in the Sonoma County community of Rohnert Park. The borrower is Clearwater Liv- ing, which is developing the com- munity and will operate it. The fa- cility will sit adjacent to Oak View of Sonoma Hills, an active adult community developed by Clear- water CEO Tony Ferrero in the early 2000s. PNC Bank provided the loan. The Cushman & Wakefield team involved in the transaction includ- ed Richard Swartz, Aaron Rosen- zweig, Timothy Hosmer and Alex Petrosian. MorningStar, Confluent start construction of 77-unit community near Albuquerque Rio Rancho, N.M. — Develop- ers MorningStar Senior Living and Confluent Senior Living have bro- ken ground on MorningStar of Rio Rancho, a 77-unit assisted living and memory care community in the Albuquerque suburb of Rio Rancho. The 70,863-square-foot develop- ment will be situated on 5.5 acres. It will feature 51 assisted living suites and 26 memory care suites. The co-developers plan to open an information center onsite by this May, and complete construction by the end of this year. Ari Dobkin | Managing Director 212.612.0165 | Ari Adlerstein | Managing Director 212.612.0174 | $48,000,000 Acquisition Skilled Nursing Portfolio 601 Beds Chicago, IL $34,120,000 Acquisition Skilled Nursing Facility 200 Beds Bronx, NY $21,300,000 Repositioning Assisted Living & Memory Care 190 Beds Lake Charles, LA $16,500,000 Acquisition Skilled Nursing Portfolio 240 Beds Connecticut $10,000,000 Acquisition Skilled Nursing Facility 97 Beds West Milford, NJ $39,000,000 Refinance Skilled Nursing Portfolio 355 Beds California $25,000,000 Refinance Skilled Nursing Portfolio 181 Beds Santa Rosa, CA $20,850,000 Acquisition Skilled Nursing Portfolio 356 Beds North Carolina $11,950,000 Acquisition Independent Living Facility 145 Beds Allen Park, MI $7,200,000 Refinance Skilled Nursing Facility 185 Beds Trenton, NJ $35,250,000 Refinance Skilled Nursing Portfolio 559 Beds CT & MD $23,885,000 Construction Assisted Living & Memory Care 118 Beds Delray Beach, FL $19,165,000 Construction Assisted Living & Memory Care 104 Beds Pooler, GA $11,500,000 Acquisition Skilled Nursing Portfolio 409 Beds KS & MO $5,300,000 Acquisition Assisted Living Portfolio 156 Beds Wisconsin $93,000,000 Acquisition Skilled Nursing Portfolio 900 Beds Pennsylvania MERIDIAN'S HEALTHCARE TEAM CLOSED $ 1 BILLION I N S A L E S & F I N A N C I N G I N 2 0 17 S E L E C T T R A N S A C T I O N S Thank you to our clients and lending partners for your trust and confidence in achieving this success together. Contact us for debt & equity financing and sales expertise in: ■ Skilled Nursing ■ Assisted Living ■ Memory Care ■ Independent Living

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