BETHEL PARK, PA – Senior Lifestyle Corporation, a privately-held owner, operator, and developer of senior housing communities, announced the official ground breaking of one of its newest plotted communities, The Sheridan at Bethel Park.

Co-Developed by Senior Lifestyle Corporation and Kaufman Jacobs, a national real estate investment firm, The Sheridan at Bethel Park is scheduled to open in fall 2018 and will feature 79 helped-living apartment homes, as well as 34 memory care residences developed specifically to support those with Alzheimer’s, dementia and other memory-impairing illnesses. The 99,000 square foot retirement community will sit on approximately 5.2 acres at 2000 Cool Springs Drive, adjacent to the Cool Springs Sports Complex.

“Senior Lifestyle is excited to bring a best-in-class senior housing option to the families and residents of the South Hills area,” said Matthew Phillips, Executive Vice President of development for Senior Lifestyle Corporation. “What makes The Sheridan at Bethel Park so special is that it offers the latest in innovative care, design, and hospitality to a growing and thriving area. Our overall mission is to make fantastic places to live and fantastic places to work, and The Sheridan is part of that vision.”

Residents of the community will have access to spacious common areas with elegant dining rooms, an interactive creative studio, physical therapy center, serenity room and more. In addition, residents can explore the memory care tranquility garden and outdoor terrace with gorgeous views of the landscaped courtyard and driving range.

Senior Lifestyle is a privately-held, owner-operator and developer of senior housing communities. With a portfolio of more than 181 communities located throughout 27 states, Senior Lifestyle offers independent living, helped living, memory care and skilled nursing for the luxury, moderate and affordable segments.

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NEW YORK, NY – The Praedium Group, a New York City-based national real estate investment firm, announced the acquisition of Reserve Decatur in Decatur, GA. Peter Calatozzo, Managing Director of The Praedium Group, made the announcement of the investment firm’s most recent acquisition.

Built in 2016, Reserve Decatur consists of 298 units comprised of one-, two-, and three-bedroom units ranging in size from 620 square feet to 1,555 square feet.  Unit interiors feature quartz countertops, nine foot ceilings, built-in Bluetooth sound systems, stainless steel appliances, side-by-side refrigerators with water and ice dispensers, kitchen islands with undermount sinks and garbage disposals, vinyl plank flooring, crown molding, digital thermostats, subway tile backsplash, and “Green” features, including Low Flow plumbing fixtures and Low-E windows.

Community amenities include a two-tale clubhouse, cyber café, conference room with kitchen area, poolside outdoor kitchen with cabana bar, game lounge, rooftop entertainment lounge, second outdoor kitchen cabana with outdoor fireplaces and TVs, dog park and spa, and 1.2-acre green space.

Peter Calatozzo said that, “Reserve Decatur is a high-quality apartment community located in an MSA that has seen and will continue to see strong population and job growth.”

Per the Bureau of Labor Statistics’ July 2017 report, Atlanta achieved a 3.2% year-over-year change in total nonfarm jobs, ranking first among the 12 largest metropolitan areas in the country.  Job growth is expected to continue, with projections reflecting an increase of another 11.0% over the next five years – more than double the projection for the national average during this period.

“Situated in a highly desirable location between Downtown Decatur and the Emory/Clifton Corridor, Reserve Decatur will also benefit from Uptown Decatur’s transformation into a live-work-play environment, which is being facilitated by the development of nearby high-quality retail, including a soon to be completed 365 by Whole Foods,” noted Calatozzo.

“Demand for housing such as Reserve Decatur will continue to be bolstered by Atlanta’s growing population, which has exceeded the national average since 2010, and, per the US Census Bureau, is expected to continue to do so over the next 5 years,” added Kelsey Durels, Associate of the Praedium Group.

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CHICAGO, IL – Lowe Enterprises Investors, in a joint venture with an investment client, has bought the 400-unit AMLI at St. Charles apartment community in the quick-growing Chicago suburb of St. Charles, IL, and renamed the property Ascend St. Charles. Located at 100 Lakeside Drive, 40 miles west of Chicago, the garden style property includes 20 three-tale residential buildings spread across 25 acres.

“Ascend St. Charles offers a rare opportunity to buy a well located and exceptionally well maintained property from its original owner in a premier residential market,” said Andy Sands, managing director of Lowe Enterprises Investors. “St. Charles is a desirable, family friendly area with an brilliant school system that is conveniently located near the many major employers along the renowned Illinois Technology Corridor on Interstate 88 as well as those along the I-90 Corridor.”

Built in 2000, the property offers a mix of one- and two-bedroom units all with washer/dryer, walk in closets, and a patio or balcony. Many units also offer gas fireplaces, wood flooring, and detached or attached garage with a private entrance. The resort-style grounds are perfectly landscaped with walking paths and a lake, as well as a pool with sundeck, a clubhouse and a sand volleyball court. Ascend St. Charles also offers the convenience of two fitness centers, a business center with conference room and a multimedia center with surround sound.

“We will start upgrading the units to keep them up to date with the latest finishes. We will also be making improvements to the fitness center, clubhouse and landscaping,” noted Sands. “Further, upgrades will be made to the property’s many outdoor amenities including the addition of a dog park and grilling areas.”

Ascend St. Charles is located just minutes from historic downtown St. Charles on the banks of the Fox River, known for its entertainment, shopping and dining options as well as the historic architecture of its landmark buildings. The nearby Metra commuter rail offers service to downtown Chicago.

LEI’s acquisition team was led by Andy Sands. Greystar has been retained to provide property management services. Moran & Co. represented AMLI and Hunt Mortgage Group arranged financing for the transaction.

Ascend St. Charles is the latest addition to LEI’s growing multifamily investment portfolio in select markets across the country. In the greater Chicago area, the firm’s portfolio includes the 612-unit Bourbon Square apartment property in Palatine, the 210-unit Fairways at Naperville and the recently bought 239-unit Reserve at Glenview in Chicago’s North Shore area. LEI continues to seek multifamily and commercial acquisition and development opportunities nationwide.

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