Senior Star Co. acquires two assisted living projects inOklahoma's largest operator of independent retirement communities has added two Texas properties to its growing portfolio with the recent acquisition of Twelve Oaks East and Twelve Oaks Irving, both located in Dallas.
The acquisitions bring Tulsa, Okla.-based Senior Star Management Co.'s total retirement communities to eight. Both Dallas sites have independent apartments and separate assisted living facilities.
In February, Senior Star acquired Las Colinas Village in Albuquerque, N.M., with 128 units. The company, which is jointly developing plans for seniors housing with the Gerontology Institute of Oklahoma State University, has properties in five states including Ohio and Missouri.
Heller Real Estate Finance gives $36M boost to Charlotte CCRC Carriage Club of Charlotte, a 359-unit continuing care community, which began operating in 1988, will get a $36 million injection from Heller Real Estate Finance as part of a fixed-rate first mortgage refinance package.
In 1997, Carriage Club converted one building into a personal care unit, renovated another facility and developed an additional 54-unit assisted living center.
The property now totals more than 400,000 sq. ft. with 276 units for congregate care patients, 54 rooms for assisted living residents and 29 units for residents over the age of 65.
First Centrum buys Va. site for seniors apartment complex A 3.61-acre stretch of land in Chesapeake, Va., has been snapped up by local operator First Centrum Corp.
The company plans to develop the parcel into nearly 90 housing units for independent living seniors.
Brandywine Senior Care breaks ground on Seaside Pointe Brandywine Senior Care, an Exton, Pa.-based company, has broken ground on its latest assisted living facility, Seaside Pointe, located along the Delaware shore at Rehoboth Beach.
The two-story building was designed by local architects, Bernardon & Associates, as a self-contained community with fully enclosed courtyards for both assisted living residents and dementia patients. Brandywine expects the $4.6 million, 92-unit project to be completed by the summer of 1999.
Del Webb Corp. proveswine country aged to perfection Located in the heart of Northern California's wine country, the Del Webb Corp.'s newest retirement community, Clover Springs in Sonoma County, is one step closer to finished with the recent grand opening of its Fire Creek recreation lodge.
The 6,200 sq. ft. facility (left) features a billiard table, fitness center and swimming pool. The lodge is located near the remains of the Moulton Hill Winery, which dates from the 1800s.
When completed, Clover Springs will include approximately 400 single-family detached homes, available in three styles ranging from the mid-$170,000s to mid-$280,000s. The community occupies 175 acres near downtown Coverdale, Calif.
Del Webb's other retirement community, Sun City Roseville, was named "Community of the Year" at the 1996 Merchandising and Marketing excellence awards, hosted by the Building Industry of Superior Northern California. In 1997, Sun City Roseville also was selected as one of the top 20 retirement communities in America by New Choices magazine.
NIC releases the 1998 Underwriter's Resource Guide The National Investment Conference for the Senior Living and Long Term Care Industries (NIC) has just released the 1998 NIC Underwriter's Resource Guide, the industry's first directory of articles, books, data tabulations, periodicals and research studies.
The guide is divided into seven sections, including an industry overview. Resources are organized with recent industry information, contact names and phone numbers.
Printed copies of the guide are available for $75. A free posting of the publication also can be found on the group's website at www.NICinfo.org.