Seniors Housing Business

APR 2018

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

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Page 12 of 48

Development 12 Seniors Housing Business n April 2018 Fuel growth and profi ts with an HR strategy. "Utilizing Aureon gives us time to focus on our residents. As we grow and continue to implement new communities, Aureon makes our decisions easier." TED TURNER, CHIEF OPERATING OFFICER, NAVION SENIOR SOLUTIONS Read the story at AUREON.COM HFF arranges $114.7 million development financing for high-rise community in Seattle Seattle — Holliday Feno- glio Fowler (HFF) has arranged $114.7 million in development financing for 620 Terry, a 243- unit high-rise seniors housing community in Seattle's First Hill neighborhood. HCP provided the capital to the developer, Columbia Pacific Advisors. The community will feature 194 independent living units, 21 assisted living units and 28 memory care units. The 24-story property is scheduled for com- pletion in 2019. Ankrom Moisian designed the property, which is situated within a five-block radius of three major area hospital sys- tems: Harborview Medical Cen- ter, Swedish Medical Center/ First Hill and Virginia Mason Medical Center. It is less than one mile from an array of life- style and entertainment ameni- ties in downtown Seattle. The HFF team representing the borrower included David Fasano, Sarah Anderson, Casey Davidson, Ryan Maconachy and Chad Lavender. Rising 24 stories in Seattle's First Hill neighborhood, 620 Terry will offer 243 units of independent living, assisted living and memory care. Navion, NorthView purchase 8.5 acres for 189-unit community in Raleigh Raleigh, N.C. — Two local compa- nies, Navion Senior Solutions and NorthView Partners, have acquired 8.5 acres in Raleigh to develop The Reserve at North Hills, a 189-unit independent living, assisted living and memory care community. Justin Good, Jeff Glenn, Allan Lynch and Sarah Godwin of HFF brokered the land sale, which to- taled $3.9 million. The sellers were Wells Fargo Bank, acting as trustee for a local family, and Henry Sink and Richard Williams, acting as co- trustees for another local family. The project will be part of Phase III of North Hills, a massive mixed- use development. Kane Realty and Dewitt Carolinas recently pur- chased more than 50 acres across the street from The Reserve at North Hills for continued expan- sion. NorthView Partners is a devel- oper, general contractor, owner and operator primarily focused on multifamily. The company has de- veloped nearly 7,000 multifamily units in addition to other commer- cial developments. Navion Senior Living has devel- oped, owned and operated more than 100 seniors housing campuses totaling 6,000 units across North Carolina. Construction is scheduled to begin in spring 2018. Reserva- tions will be accepted beginning in spring 2019 for a planned opening in the first quarter of 2020. Ryan Cos., Grand Living start construction of $50 million, 172-unit community in Florida Sarasota, Fla. — Ryan Cos. US Inc. and its partner Grand Living have started construction of Grand Liv- ing at Lakewood Ranch, a 172-unit independent living and assisted living community in Sarasota. Located between Tampa and Fort Myers, the property is the third Florida partnership between the two companies. Development costs are estimated at $50 million. The project will be located within the Lakewood Ranch

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