Management
Ciel assumes management of HarborChase of Princeton, rebrands
Ciel Senior Living has taken over the management of HarborChase of Princeton and rebranded the 120-unit assisted living and memory care community to Ciel of Princeton, located in Monmouth Junction, New Jersey. This is the second community Ciel Senior Living has managed since July 2023.
Ciel of Princeton will introduce a new dementia program called “Connections by Ciel” to provide exceptional care for residents with Alzheimer’s disease.
Transactions
Senior Living Investment Brokerage facilitated the sale of Emerald City, a 119-unit assisted living and memory care community in Seattle, Washington. The community, built in 2006 and renovated in 2017, was sold by an out-of-state private equity group to a regional owner and operator looking to expand their presence in the area.
SLIB facilitates sale of 143-unit IL and AL community
Senior Living Investment Brokerage also announced the sale of a 143-unit independent and assisted living community in Scottsdale, Arizona, from a southern California-based independent owner to a Utah-based manager of the community.
Financings
HUD announces $40 million in affordable housing funds
Department of Housing and Urban Development has allocated $40 million to support service coordinators in multifamily housing, as stated by LeadingAge. The funds will be used to finance 160 service coordination programs across the country.
Ziegler prices financing for Westminster-Canterbury on Chesapeake Bay
Ziegler has successfully priced Westminster-Canterbury on Chesapeake Bay’s Series 2023 Bonds, valued at $428.5 million, for the nonprofit’s The Bay Tower project. This project includes a new 22-story independent living apartment building, a five-story parking garage, and 226 units added to the existing campus, with the long-term bonds maturing in 2059.
Acquisitions
Mainstay Senior Living acquires three communities
Mainstay Senior Living has acquired three assisted living communities in South Carolina, renaming them to Ansley Glen at Greenwood in Greenwood, Sumter Terrace in Sumter, and Vickery Park in Central.
