September 2016 — Health Care Properties Quarterly —
Page 19
Senior Housing & Care
Group and the management company will be FPI
Management. The property is expected to open
in September 2017.
Renovations
Marcella Manor Senior Apartments, a 206-unit,
U.S. Department of Housing and Urban Develop-
ment Section 8 senior apartment property, has
begun a major renovation following its sale in
2015. The 1977 property is now owned by Arvada
Preservation Partners LP. The renovation is being
financed partially by 4 percent Low Income Hous-
ing Tax Credit financing. Renovations include
modernization of elevators, window, exterior skin,
HVAC, common areas and unit finishes and fix-
tures. The architect is ej architecture and the con-
tractor is Pinkard Construction.
Openings
Mainstreet Capital’s new subacute, rehab skilled
nursing facility, Healthcare Resort of Colorado
Springs, opened in May. The property includes 97
skilled nursing beds and 28 assisted living units.
The general contractor was Meyer-Najem and the
architect was arcDesign.
Inglenook at Brighton, an existing assisted living
and independent living community, opened a new
12-unit memory care addition in May. Inglenook
at Brighton is operated by Claremont Retirement
Management Services.
Lakewood Memory Care, a 46-unit standalone
memory care community, held a grand opening
ceremony July 14. The architect was Lantz-Boggio
Architects and the general contractor was Brink-
man Partners. Lakewood Holdings LLC owns the
property and Milestone Retirement Communities
LLC is the operator.
Rocky Mountain Assisted Living Lakewood, a
new 32-bed assisted living community, opened in
July. The general contractor was Springfield Con-
struction LLC and the architect was MA Architects.
The property is owned and managed by Rocky
Mountain Assisted Living.
Sales
Mesa Vista of Boulder, a 146-bed skilled nursing
facility in Boulder, was sold by HCM Inc. to Omega
Healthcare Investors of Hunt Valley, Maryland, in
April. Mesa Vista sold for a reported $19 million.
Overture at Stapleton, formerly known as Gre-
enways at Stapleton, a 108-unit market-rate, age-
qualified apartment community, was sold by Hori-
zon Development to The Carlyle Group in January.
Overture is managed by Greystar.
Grace Healthcare sold three Colorado skilled nurs-
ing facilities to an undisclosed California-based
investor. The new owner plans to lease the proper-
ties to a new operator that currently has a presence
in Colorado. The sale included Paonia Care and
Rehab Center in Paonia, Grace Healthcare & Rehab
in Glenwood Springs and Pioneer Health Care Cen-
ter in Rocky Ford. The properties collectively sold for
$15.3 million, at $67,700 per bed.
These listings of construction starts, openings and
property sales are as reported by Boulder-based
The
Forest Ridge, an 80-bed skilled nursing facility in Woodland Park, on the campus of the Pikes Peak
Regional Hospital, opened in May. Forest Ridge will accept Medicare, Medicaid and private-pay residents.
The general contractor was Golden Triangle Construction and the architect was Architectural Nexus Salt
Lake. Forest Ridge is operated by OnPointe Health.
Centerpointe Senior Living’s new assisted living and memory care community in Arvada, Ralston
Creek Senior Living, held its grand opening celebration July 29. The property includes 107 assisted living
and 27 memory care units. The general contractor was The Weitz Co. and the architect was Douglas Pan-
cake Architects. Milestone Retirement Communities LLC manages the new community.
