MBK Senior Living announced that construction has officially begun on a comprehensive renovation of The Bellettini, a senior living community in the heart of downtown Bellevue, Washington. The transformation is expected to be completed in Summer 2026.

The transformation will enhance key shared spaces throughout the community, including the lobby, concierge and valet areas, and signature dining venues. “This renovation reflects a deep respect for what The Bellettini has always been, while thoughtfully enhancing how it feels to live here each day,” said Brian Prouty, Executive Director of The Bellettini.

“We’re creating an environment that feels both elevated and comfortable—where residents can continue to enjoy the connections, experiences, and sense of ease they value, now within beautifully refreshed surroundings.”

The Bellettini features 144 independent and assisted living apartments. MBK Senior Living is a provider of independent living, assisted living, and memory care communities across the Western United States.

Blake Management Group will bring a two-story, resort-style senior living community, The Blake, to the Lake View Acres neighborhood in College Station. The $23 million project will be located on Harvey Mitchell Parkway South.

The development will include 117 units, which include 73 licensed assisted living units and 44 memory care units. The community will offer assisted living and specialized memory care services for residents living with Alzheimer’s disease and related conditions. The Blake will offer full hospitality services, including dining, fitness programs, concierge assistance and laundry. 

Construction is expected to be completed in early 2028.

The Blake College Station project marks the company’s fourth development in Texas. Blake operates eight other communities nationwide. Texas locations include Waco, Tyler and New Braunfels.

Greysteel has completed the sale of Mary Hardesty House, a 60-unit senior community located at 218 Mosby Boulevard in Berryville, Virginia.

The property, which was developed using Low-Income Housing Tax Credit (LIHTC) financing, is encumbered by a long-term use agreement for the property to be Affordable Housing. The property was acquired by Community Housing Partners for $5.85 million.

Fletcher Hultman, Justin Mazzamaro, and Henry Mathies of Greysteel’s National Affordable Housing practice group exclusively represented the seller The Wentwood Companies. Mary Hardesty House is ideally located in the northern Virginia town of Berryville, about 65 miles northwest of Washington, D.C.

“We received strong investor interest in this property because it didn’t have any major deferred maintenance or operational challenges,” said Fletcher Hultman, Director of Mid-Atlantic Affordable Housing sales at Greysteel. “This acquisition allows Community Housing Partners to achieve operational scale in this market as they also own a nearby property.”

The James of Irvine, a luxury senior living community, recently celebrated its groundbreaking, marking a milestone for what’s reportedly the area’s first upscale rental-based senior community. The event, held at the 3.03-acre site on Gates Avenue, drew more than 80 attendees, including city officials, developers and industry leaders.

Designed for baby boomer renters, The James will feature 350 studio, one- and two-bedroom residences for independent living, assisted living and memory care. The eight-story community, set to open in summer 2027, will offer modern amenities, holistic care and a walkable lifestyle in Orange County, with convenient access to Santa Ana, Costa Mesa and Tustin.

Owned by the P3 Foundation, The James is being developed by Harbert South Bay Partners and will be managed by Momentum Senior Living. Additional project partners include Van Tilburg, Banvard & Soderbergh, Rodrigo Vargas Design and W.E. O’Neil Construction.

Thursday, March 20: Be there to learn from and network with the experts from Gantry, CBRE, Wonderful Real Estate, RETS Associates, BKM Capital Partners, Thorofare Capital, Kidder Mathews, Buchanan Street Partners, and many more on March 20^th at the 9^th annual Connect Orange County conference. Don’t miss out on the industry’s most insightful Orange County CRE event of 2025. Be sure to register in advance; registration pricing increases on event day. www.ConnectOC2025.com

NeighborWorks Housing Solutions held the ribbon cutting of The Lincoln, a new community offering 37 units of affordable housing for seniors at the site of the former Lincoln School, 70 Highland Street in Brockton, MA.  Leasing is now underway, and the first residents are expected to move into their new homes sometime in April.

The project transformed a historic former elementary school originally constructed in the 1890s into 37 studio and one-bedroom apartment homes for seniors. Wherever possible, original elements from the schoolhouse were incorporated into the new design. 

“We’ve seen a huge increase in demand for affordable, accessible, and supportive housing, which puts more of our seniors at risk,” said Robert Corley, CEO of NeighborWorks. “These types of historical developments are some of the most challenging to take on, but we are proud to welcome you to this revitalized former school, which will now serve as a home to 37 seniors.”

Belmont Village Senior Living has opened Belmont Village San Ramon, its fifth Bay Area development and 16th California community. Located at 1000 Walnut Dr., the 177-unit property was developed in partnership with Sunset Development and is located within the Bishop Ranch mixed-use neighborhood.

The development includes studio, one- and two-bedroom options for independent living, assisted living and memory care. It represents the second residential community to join Bishop Ranch and the only senior living community in the development.

“The opening of Belmont Village San Ramon is a testament to our mission to create vibrant, supportive communities where seniors not only receive best-in-class care but truly feel at home,” said Patricia Will, founder and CEO of Belmont Village Senior Living.

Added Alex Mehran, Jr., president and CEO of Sunset Development, “The influx of new residents, including those at Belmont Village, underscores how San Ramon is evolving into a premier destination not only for families but also for seniors seeking a luxury living experience that offers both tranquility and easy access to the greater Bay Area.”

Walker & Dunlop has arranged $25.9M in permanent financing for Rivertown Ridge, a senior housing community located in the Grand Rapids, Michigan, metro area.

Walker & Dunlop Managing Directors Mary Stuart Hurst and Russell Dey partnered with Inner Circle Holdings to structure the 10-year, fixed-rate Fannie Mae loan with three years of interest-only payments to Redstone Group Management Inc.

Rivertown Ridge is a 152-unit, class A senior housing community built in 2019 as part of a larger, 120-acre master-planned community. The community includes dedicated units for independent living, assisted living, and memory care.

“We pulled together a team of agency and senior housing experts to collaborate on this unique transaction, which was a testament to the breadth of Walker & Dunlop’s financing platform,” said Mary Stuart Hurst, Managing Director of Multifamily Finance at W&D. “We are thrilled that we could be a part of Redstone Group’s commitment to providing quality care and housing in Grand Rapids and the surrounding region.”

JLL has arranged $39.98 million in acquisition financing for a portfolio of three senior housing communities totaling 344 units in Eugene and Springfield, Oregon, on behalf of a local operator.

JLL worked on behalf of the borrower to secure the three-year, floating-rate regional bank financing. Proceeds were used to acquire the three properties. The JLL Seniors Housing Capital Markets team representing the borrower was led by Senior Director Alanna Ellis and Associate Alex Sheaffer. “This portfolio represents a tremendous addition to this operator’s portfolio,” said Ellis. “JLL was excited to work alongside our client  to achieve very favorable financing.”

The portfolio consists of Evergreen Senior Living, Timber Pointe and Woodside Senior Living, which together offer 43 independent living, 245 assisted living and 56 memory care units. All of the properties were built between 1996 and 2006 and the properties were fully renovated in 2021.

Continuum Advisors, a national senior housing investment sales and advisory firm, announced the sale of The Oaks at Bartlett, a 283-unit senior housing community about 35 miles northwest of downtown Chicago.

Built in 2007, the 37-acre interconnected campus offers 10 cottages, 154 independent living apartments, 49 assisted living units, 16 memory care units and 54 skilled nursing units. Continuum Advisors co-founders David Kliewer and Jay Jordan led the transaction, after running an extensive marketing campaign to identify a stalking horse bidder, followed by a court-supervised overbid process.

The community was sold through a court-supervised process with Michael F. Flanagan of Flanagan & Associates, LLC serving as the Receiver. This led to the $42 million sale of The Oaks at Bartlett to a national institutional investor.

“Under new ownership, this sale paves the way for long-term financial stability and new capital to be invested into the campus across common spaces as well as unit upgrades,” said David Kliewer.

Greystone has arranged a $33.7 million debt placement to refinance a portfolio of seniors communities in the Pacific Northwest. The transaction was sourced by David Young, a Managing Director at Greystone on behalf of a regional owner of affordable-focused senior housing communities.

There were four properties total across two states. Each community has a specific Medicaid contract with the state serving assisted living and memory care residents. The financing was provided by a debt fund meeting the borrower’s expectations on proceeds.

“With recent Medicaid rate increases and capital expenditures completed on the communities, we were seeking to maximize proceeds for this debt request. We sourced a fitting lender after an extensive process working with banks, credit unions and unlevered, A/B tranched, and back-levered debt funds,” said Young.