Carmel developer sinks $66M into four senior communities

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Carmel-based Leo Brown Group LLC has committed $66 million to develop two senior communities in the Indianapolis area and two more in Ohio and Kentucky, the developer of health care properties said Monday.

In Indianapolis, the $16.7 million, 105-unit Traditions at Solana opened last month in Milhaus Development LLC’s Solana at the Crossing apartment development at 78th Street and Keystone Avenue.

Leo Brown Group also opened Traditions at Reagan Park last month in Avon near the IU Health West hospital campus. The $11.5 million, 82-unit assisted living and memory care community is part of the larger Reagan Park senior-living campus developed by Leo Brown.

In Reagan Park, Traditions joins the existing Thornbury Pointe senior apartments and the Brooke Knoll Village Health and Rehabilitation skilled-nursing facility. The 25-acre Reagan Park will be fully developed next year.

In Granville, Ohio, east of Columbus, Leo Brown Group began construction in May on Middleton of Granville, the firm’s first senior-living community in the state. The $18.3 million development includes 94 assisted living and memory care units, and is a joint venture with Columbus-based Continental Real Estate Cos.

And earlier this month, Leo Brown Group broke ground on the $19.5 million Traditions at Beaumont in the Louisville suburb of Fern Creek, the company’s first development in Kentucky. The project includes 130 independent living, assisted living and memory care units.

A company affiliate, Traditions Management, will operate the four facilities.



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  1. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  2. If you only knew....

  3. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

  4. The facts contained in your post make your position so much more credible than those based on sheer emotion. Thanks for enlightening us.

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