Transactions Shadowbrook Resort sold, to become independent living community The six-decades-old Shadowbrook Resort based out of Wyoming County, Pa., is expected to close on a sale to developer Richard Angelicola on Aug. 31. Reporting from The Times-Tribune states the 100-unit apartment facility will add to Angelicola’s current portfolio of Glenmaura Senior Living, Highland Park Senior […]
McCaffery Interests
A couple weeks ago, my colleague and SHN Managing Editor Tim Mullaney offered his post-NIC thoughts that the industry is entering a tough spot. I agree the industry is entering a period fraught with perils, including rising interest rates and cost inflation. But I also believe that the stage is set for senior living companies […]
“Plainly put, I think the industry to a large degree has built itself over the last 20 years on a model that today’s customer doesn’t want anymore,” Belmont Village CEO Patricia Will told me this week. Belmont Village and partner Greystar are trying to solve this problem by creating a new model, which they unveiled […]
As 2021 comes to a close, four hotly anticipated new senior living communities are opening their doors for the first time: — Sunrise at East 56th, in Manhattan — MorningStar at River Oaks, in Houston — Modena Reserve at Kensington, near D.C. — Trulee Evanston, near Chicago These communities exemplify several trends in luxury senior […]
Adam Kaplan has a keen sense of the history of senior living, having grown up in the industry. As Founder and CEO of Solera Senior Living, he is drawing inspiration from the entrepreneurs who created the sector while also pushing hard to move senior living forward. Since starting Denver-based Solera in 2016, Kaplan has pursued […]
Covid-19 presents a sizable challenge for the senior living industry, but two major players in real estate development also foresee multiple avenues for growth ahead. In particular, Hines and McCaffery are leveraging their scale and experience in other types of real estate as they expand in senior housing and bring new communities to some of […]
The impact of the Covid-19 pandemic has yet to seriously impact the construction industry, but experts believe that it is a matter of when, not if, the crisis will have deleterious effects on construction timetables, supply chains and an already shallow labor pool. For expensive construction projects such as senior housing, that can lead to […]
McCaffery Interests’ entry into senior housing can be summed up in three words. “Development follows demand,” CEO Dan McCaffery told Senior Housing News. The Chicago-based developer broke ground last week on Modena Reserve at Kensington, a $75 million, 135-unit community with independent living, assisted living and memory care in Kensington, Maryland with operating partner, Denver-based […]
A prominent name in real estate development is creating its first senior living projects, partnering with Solera Senior Living on a pipeline in the mid-Atlantic region of the U.S. The Denver-based senior living operator is partnering with Chicago-based McCaffery Interests on Modena Reserve at Kensington, a 135-unit community with independent living, assisted living and memory […]
“This project has been a very long time in the making.” Those were the words that Belmont Village Senior Living founder and CEO Patricia Will said to a group of nearly 60 people late last month at a ribbon cutting ceremony of a sales center for the Houston-based firm’s upcoming assisted living facility in Chicago’s […]
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