Surprise Behavioral Hospital
Chancery Seniors Housing Investments is partnered with Avenir Senior Living in the development of a geriatric behavioral hospital in Surprise, Arizona.
The Surprise Behavioral Hospital will benefit from its proximity to Surprise Memory Care, which is located on the adjacent land. The facilities will share a kitchen and maintenance services as well as casual and on-call staff. The Surprise Memory Care community will provide referrals to the hospital, and the hospital will allow for higher level of care for the existing residents of Surprise Memory Care.
Geriatric behavioral care addresses a number of behavioral problems that can accompany Alzheimer’s disease and other forms of dementia. When behaviors exceed the ability of their existing care givers to adequate care for their patients, such patients need isolated/specialized treatments before they can return to regular memory care facilities. Funding in the United States for behavioural hospitals is provided by Medicare and Medicaid. Government funding for these programs roughly accounts for 2/3 of industry revenues.
This development project represents the third project that Suske Capital has done with Avenir Senior Living since 2014, with Steve Suske’s relationship with Avenir’s CEO going back to Steve’s time at Chartwell. Suske Capital and Avenir previously partnered on Surprise Memory Care, which opened in 2016, and Nanaimo Memory and Complex Care, which opened in May 2017.
Chancery completed a US$3,000,000 capital raise for Surprise Behavioral Hospital which closed November 10, 2017. The capital raise consisted of Subordinated Unsecured Notes and Non-cumulative Preferred Limited Partnership Units.
Canoe Bay is a real estate development project designed with a focus on a mature active living lifestyle. In a beautiful setting adjacent to Mooney’s Bay, Canoe Bay will be a sustainable community which will provide essential services at a reasonable price to a diverse group of residents from all walks of life.
Loft apartments will front on Riverside Drive above the community retail, with exceptional views of Mooney’s Bay. Canoe Bay’s vision is to provide an ideal setting for people to age-in-place in Ottawa in a vibrant community with a full spectrum of services to help promote a healthy, active lifestyle. The site, 3071 Riverside Drive, is situated between two hospitals and 50 acres of parkland in the established community of Ottawa South.
Chancery completed an $8,000,000 capital raise with Echelon Wealth Partners on March 9, 2017. This raise was to develop the land phase of the project and sell the excess in order to fund the building phase. The building phase will include 525 suites in the form of seniors apartments and seniors residence suites.
Allandale Station Retirement Residence
Allandale Station Retirement Residence is a 140-suite retirement residence offering independent and assisted living. Allandale is centrally located in Barrie, Ontario with access to retail, restaurants, parks and health care providers. Construction began in Fall 2017 for occupancy in Fall 2019.
Chancery completed a $6,500,000 capital raise with Echelon Wealth Partners for Allandale Station Retirement Residence which closed April 30, 2017. The capital raise consisted of Subordinated Secured Notes and Deferred Non-cumulative Preferred Limited Partnership Units.
The Bartlett Seniors Apartments
Chancery Seniors Housing Investments is partnered with Hillsport Developments in the development of The Bartlett Seniors Apartments in Oshawa, Ontario.
The project is located at the north-west corner of Stevenson Road and Bond Street in the City of Oshawa, which comprises of a site area of approximately 2.38 acres. The plan is to build and operate a five storey, 129-suite rental apartment building that will allow seniors to live in a secure environment while providing access to a host of services, on an a-la-carte basis, that is available on premises.
The project provides the Ontario market with a new approach to seniors housing that is different from traditional retirement homes. The project provides the safety and security of a traditional retirement residence, but with the added benefit of residents being able to access a variety of services and activities available a-la-carte, as well as having urgent medical care, as required. The innovative service structure allows the quality of care of a retirement home to be provided in a more traditional apartment setting.
Chancery completed a $5,100,000 capital raise for The Bartlett Seniors Apartments which closed October 3, 2017. The capital raise consisted of Subordinated Secured Notes and Deferred Non-cumulative Preferred Limited Partnership Units.
Bradford West Gwillimbury, Ontario
The Middleton Seniors Housing Complex
Chancery Seniors Housing Investments is partnered with Hillsport Holdings Developments in the development of The Middleton Seniors Housing Complex in located at 558 Holland St W. in Bradford West Gwillimbury, Ontario.
The Middleton will be a 122-unit apartment building designed for active senior living. It represents an affordable alternative to conventional seniors housing, offering services that permit seniors to live independently, on an à-la-carte basis through a concierge, in a regular apartment building, while providing the comfort to seniors and their families that care will be available in short order should the need arise.
Chancery completed a $1,650,000 capital raise on October 16, 2018 for the pre-development phase of The Middleton through the issuance of Preferred Limited Partnership Units. Construction will begin in the first quarter of 2019 and the building is scheduled to be completed in the first quarter of 2021.