National Health Investors, Inc. (NYSE: NHI) entered into an agreement to finance the development of a 144-bed skilled nursing facility near Milwaukee, a $25.35 million commitment with a 9.5% initial yield.
Real estate firm Pontarelli Cos. wants to develop Blue Sky Residence, a 67-unit apartment community for residents 62 and older, on about 3.5 acres on the 900 block of North Avenue, between Second and Third avenues.
With the senior population and demand for senior housing guaranteed to grow over the next 20 years, yesterday’s offices, hotels, schools and commercial buildings can be repurposed into the senior housing of tomorrow.
The McGregor Senior Assisted Living building rising in East Cleveland was designed by the Hiti,DiFrancesco and Siebold architecture firm and constructed by the Krill Co., both of Cleveland. The $12 million building is scheduled to open next year.
A tight labor market has continued to drive up construction costs for skilled nursing facilities — and that’s before accounting for the potential effects of disruptive new tariffs from the Trump administration.
Greystone is joining forces with senior living developer and operator Lake Gibson Village to meet a community need for effective post-acute care services for its residents within their continuum of care.