Thursday, September 19, 2024
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Channing Hamilton

AcquisitionsActive AdultAssisted LivingCCRCDevelopmentFeaturesFinanceIndependent LivingIndustry ContentInvestmentMemory CareOperationsWebinars

Tempo of Deal Velocity Increases as Industry Enters Homestretch of 2024

by Channing Hamilton

By Matt Valley Following a quiet end-of-summer period on the dealmaking front — “quieter than it has been for years with the exception of the pandemic” — Sabra Health Care REIT Chief Investment Officer Talya Nevo-Hacohen encountered a flurry of transaction activity in late August and early September.  “It’s been gangbusters, and what we’re seeing is primarily seniors housing assets (independent living and assisted living) coming to market,” said the veteran REIT executive who participated in the webinar Seniors Housing Business hosted on Sept. 5, titled “Creating Value in Seniors Housing — …

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The Retreat at Carrollton in Carrollton
AcquisitionsAssisted LivingNewsOperationsTexas

12 Oaks Senior Living Expands Management Portfolio with Retreat at Carrollton in Metro Dallas

by Channing Hamilton

CARROLLTON, Texas — 12 Oaks Senior Living has expanded its management portfolio with the addition of The Retreat at Carrollton, an assisted living community in Carrollton, located approximately 20 miles northwest of Dallas.  The 122-unit property opened early this year. A private equity group based in Dallas selected 12 Oaks to operate The Retreat at Carrollton. As part of this partnership, 12 Oaks will focus on optimizing operations, lease-up, enhancing resident experiences and achieving the owner’s business goals. The management team at 12 Oaks emphasizes the importance of resident-centered care, innovative …

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Garden Spot Village in New Holland, Pennsylvania
FinanceNewsPennsylvania

Ziegler Closes $67.3M Tax-Exempt Bond Financing for Garden Spot Village in Southeast Pennsylvania

by Channing Hamilton

NEW HOLLAND, Pa. — Specialty investment bank Ziegler has closed on an approximately $67.3 million tax-exempt bond financing for Garden Spot Village in New Holland, located about 14 miles northeast of Lancaster, Pa. Ziegler served as underwriter in the transaction. The obligated group consists of Garden Spot Village (the “Corporation”) and its subsidiary, GSV LLC. Garden Spot Village is a not-for-profit Pennsylvania corporation that owns and operates a life plan community, known as Garden Spot Village, located on an approximately 220-acre campus in New Holland.  The community includes 621 independent living homes …

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The Nation's Largest Not-for-Profit Multi-Site Senior Living Organizations
AcquisitionsFeaturesIllinoisNewsOperations

Latest LZ 200 Report Shows Not-for Profits Growing Mostly Through Campus Expansions, Affiliations, Acquisitions

by Channing Hamilton

CHICAGO — Not-for-profit senior living providers have grown primarily through community expansions from existing campuses as well as affiliation and acquisition activity, according to the 21st Annual LeadingAge Ziegler (LZ 200) report.  Developed annually through a partnership between LeadingAge and Ziegler, the report is a ranking and analysis of the nation’s 200 largest not-for-profit senior living organizations across the country as of Dec. 31, 2023.  Nearly 30 percent of the total number of units for all senior living systems among this year’s LZ 200 are represented by the 10 largest …

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Lockwood of Ann Arbor in Ann Arbor, Michigan
DevelopmentIndependent LivingMichiganNews

Lockwood Cos. Opens 154-Unit Independent Living Community in Ann Arbor, Michigan

by Channing Hamilton

ANN ARBOR, Mich. — Lockwood Cos., a developer and manager of senior living communities, has opened Lockwood of Ann Arbor. With a focus on independent living, the community features 154 senior apartments, with 65 of these units designated as affordable housing. Households earning up to 60 percent of area median income will be eligible for the affordable units. The $47 million development is designed to provide high-quality, accessible living for seniors in Washtenaw County, addressing the growing need for seniors housing as the local population continues to age. The facility is equipped …

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The Patriot in Somerset, Pennsylvania
AcquisitionsCCRCNewsPennsylvania

ESI Arranges Sale of Continuing Care Retirement Community in Southwest Pennsylvania

by Channing Hamilton

SOMERSET, Pa. — Evans Senior Investments (ESI) has arranged the sale of The Patriot, a continuing care retirement community (CCRC) in Somerset, located in southwest Pennsylvania. The transaction was executed on behalf of a non-profit organization. The sales price was not disclosed. The CCRC features a diversified unit mix, including 100 licensed skilled nursing beds, 47 personal care units, and two independent living units. At the time of marketing, the skilled nursing component of the community was 77 percent occupied while the personal care beds were 47 percent occupied.  Financial …

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CaliforniaDevelopmentFinanceNews

EBSC Arranges $31.2M in Construction Financing for Luxury Senior Living Facility in Los Angeles

by Channing Hamilton

LOS ANGELES — EBSC Lending has arranged $31.2 million in construction financing for a new 172,163-square-foot luxury senior living community under development in Los Angeles. The borrower operates senior living facilities in the Southeast, with a primary focus on Florida. Brian Stark, manager of information technology at EBSC Lending, led the transaction. The facility will offer a total of 198 catered living, assisted living and memory care units in three buildings spread over a 7.8-acre campus. It will also feature gourmet restaurant-style dining, boutique hotel décor, and a variety of …

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