Assisted Living Executive - September/October 2010

Kisco senior Living, of Carlsbad, California, has purchased villa de san Antonio, a senior living community located in San Antonio, Texas. The Villa community has 114 independent living apartments, 55 assisted living apartments, and 24 cottage homes.

vintage senior Living, based in Newport Beach, California, has opened vintage Bur-bank, an eight-story community designed for independent and assisted living programs.

McLean, Virginia-based sunrise senior Living and some of its affiliates have entered into an agreement with GHS Pflegeresiden-zen Grundstucks GmbH and Prudential Real Estate Investors to sell eight of Sunrise’s nine assisted living communities in Germany. The aggregate purchase price is approximately $74.5 million.

Chicago-based ventas has agreed to acquire Lillibridge Healthcare Services and its real estate interests in 95 medical office buildings and ambulatory facilities. The purchase price is estimated between $300 million and $400 million and will grow Ventas’ MOB portfolio to 8. 4 million square feet. ❏

Tinley Park, Illinois-based Providence Life services has begun construction on Park Place of elmhurst, a 12-acre campus in the metropolitan Chicago area with 173 independent apartments, 46 assisted living apartments, 20 memory care suites, and 37 skilled nursing private rooms. As of July, 80 percent of its units were already reserved.

San Francisco-based Agesong communities has earned Green Restaurant certification from the Green Restaurant Association. AgeSong is the first senior living company to earn Green Restaurant certification.

Brookdale senior Living, of Brentwood, Tennessee, has obtained a $117 million first-mortgage loan from Berkadia Commercial Mortgage and Fannie Mae for a portfolio of 19 communities in several states. The mortgage debt has a 10-year term and has a fixed interest rate of 5.98 percent.

Seattle-based emeritus senior Living has completed the purchase 144 Sunwest Assisted living communities for $2 billion.

Healthcare Reit, based in Toledo, Ohio, has formed an $817 million partnership with a 38-property West Coast-based senior living company. The REIT will assume an 80 percent stake in the joint venture.