Developer’s $158 Million Pipeline Bridges Affordable Senior Housing Gap

Senior Lifestyle Corporation recently completed its first affordable assisted living community in Chicago Heights and is moving forward on other projects in its $158 million pipeline, many of which are heavily utilizing tax-exempt bond financing.  Prairie Green in Chicago Heights is a 144-unit, $23.3 million supportive living facility that received $18.5 million in tax-exempt bond […]

Silverado to Acquire Three Communities from Troubled CRL Operator

Silverado Senior Living announced on Friday that it will acquire and assume management of three memory care communities currently managed by CRL Senior Living. The news follows an announcement made earlier last week that Chicago-based Senior Lifestyle Corp. would be assuming management of 11 other CRL communities. The announcement followed reporting by the Northwestern on […]

Senior Living Companies Revisiting Policies in Brookdale Incident’s Wake

Senior living providers are revisiting and clarifying company policies in the wake of a resident’s death at a Brookdale Senior Living-operated community—an incident that grabbed the nation’s attention and could drive changes to the independent living industry. In late February, a staffer at Brookdale’s Glenwood Gardens location didn’t follow a 911 dispatcher’s requests to provide CPR […]

In the Pipeline: Senior Housing Construction Projects (1/23/13)

Construction: Planned Hipster Senior Living Community? Pabst Planning Milwaukee Project Milwaukee Pabst Senior Housing LP, a New York City-based developer, is bringing back plans to build a senior housing community in two buildings in The Brewery in Milwaukee, according to The Business Journal.  The plan for the development was first floated in the summer of 2011 […]

Senior Lifestyle Corp., Walton Street JV Sells Senior Property for $82 Million

A senior housing community in Lake Barrington, Ill. was recently sold by a joint venture between Chicago-based Senior Lifestyle Corp. and Walton Street Capital LLC to Health Care REIT (NYSE:HCN) in a $81.7 million transaction, according to Crain’s Chicago Business. Lake Barrington Woods is a 192-unit property that provides both independent and assisted living.  The […]

Health Care REIT Buys Va. Senior Living Community for $16.3 Million

Toledo, Ohio-based Health Care REIT (NYSE:HCN) recently acquired a retirement community in Spotsylvania County, Va. for $16.3 million, according to Fredericksburg.com. Chancelor’s Village offers assisted living and independent living and was previously owned by an entity of Chicago-based private equity real estate investment firm Walton Street Capital, according to local property records. The Walton Street […]

Health Care REIT Buys Fla. Senior Living Community in $49.4 Million Transaction

Toledo, Ohio-based Health Care REIT (NYSE:HCN) recently acquired a 155-bed senior living facility in Jupiter, Fla. from an affiliate of Chicago-based Senior Lifestyle Corp. in a sale-leaseback transaction.  Senior Lifestyle Jupiter sold Mangrove Bay, located on a 6.52 acre property, in a $49.4 million transaction, according to the South Florida Business Journal. The sale price has […]

Senior Lifestyle Corp. Sells Two Chicago Senior Living Communities in Sale/Leaseback

Chicago-based developer Senior Lifestyle Corp. confirmed it has sold two local senior housing projects in a sale-leaseback transaction.  The transaction includes Autumn Green at Midway Village, a 121,600-square-foot retirement community in the West Lawn neighborhood of Chicago with 100 independent living and 23 assisted living units. The community opened in 2005 and is located adjacent […]

Health Care REIT Acquires Wisc. Senior Housing Community for $38 Million

Health Care REIT, Inc. recently bought a senior housing community from a subsidiary of Senior Lifestyle Corporation for $38 million, reports CoStar.  The community consists of two apartment buildings located in Greendale, Wisc., with a total of approximately 250,300 square feet.  The properties were under contract for about two months prior to closing and were […]