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Hayden Spiess

Matt-Brown
FinanceMassachusettsNews

Diversified Healthcare Trust Receives $109M Refinancing Through Freddie Mac

by Hayden Spiess

NEWTON, Mass. — Diversified Healthcare Trust (DHC), a Massachusetts-based REIT that owns roughly $7.2 billion of healthcare properties across 36 states, has received a $109 million mortgage financing through Freddie Mac.  The 10-year, fixed-rate loan is secured by seven senior living communities comprising 1,184 units. Five Star Senior Living, the operating division of AlerisLife Inc., manages the properties, which are located in five states.  DHC plans to use the proceeds to redeem a portion of its outstanding 9.750 percent senior notes due in 2025.  “This new 10-year loan through Freddie Mac …

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Alamitos-West-Health-Rehabilitation-Center_Los-Alamitos-Calif
AcquisitionsAssisted LivingCaliforniaMemory CareNewsSkilled Nursing

Marcus & Millichap Brokers $34.5M Sale of Two Properties in Los Alamitos, California

by Hayden Spiess

LOS ALAMITOS, Calif. — Marcus & Millichap has brokered the $34.5 million all-cash sale of two senior living properties located in Los Alamitos.  The properties include Alamitos West Health & Rehabilitation Center, a 142-bed skilled nursing facility and Katella Senior Living, a 73-unit, 77-bed assisted living and memory care community. International Equity Partners was the buyer.  Nick Stahler, Michael Mooney and Hap Knowles of Marcus & Millichap represented the undisclosed seller in the transaction. Stahler procured the buyer. Tony Solomon is Marcus & Millichap’s broker of record in California. 

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Don-Vetal
FeaturesIndustry VoicesTechnology

Conversion Through Care: Technology Transforms the Transition from Home to Community

by Hayden Spiess

Senior living communities can benefit from the same platforms serving seniors and their caregivers in the home setting.  Aging adults often require assistance to sustain their safety and well-being long before they enter a seniors housing community. Over time, this may advance to needs in the realm of care, companionship, and support for most activities of daily life including shopping, transportation to appointments, finding products and services and more.  Studies have shown that adult children of seniors may provide as many as 24 hours per week of care in addition …

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CountryHouse-Agemark
AcquisitionsMemory CareNebraskaNews

NHI Acquires Six-Property Agemark Portfolio in Nebraska for $63.5M

by Hayden Spiess

MURFREESBORO, Tenn. — Tennessee-based National Health Investors Inc. (NHI) has acquired a portfolio of six Agemark memory care communities located in Nebraska for $63.5 million.  The seller, Agemark Senior Living, will continue to operate the properties, which total 205 units, on a 15-year master lease with two five-year renewal options.   “Agemark is an innovative leader in providing exceptional personalized care to memory care residents and we have long admired their commitment,” says Eric Mendelsohn, president and CEO of NHI. “That is why we are thrilled to announce our new partnership today, …

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The-Village-at-Gainesville
AcquisitionsAssisted LivingFloridaIndependent LivingMemory CareNews

SantaFe Healthcare Sells 100-Acre Senior Living Property in Gainesville, Florida

by Hayden Spiess

GAINESVILLE, Fla. — Continuum Advisors has arranged the sale of The Village at Gainesville, a 639-unit seniors housing community in Gainesville. SantaFe Healthcare Inc. sold the 100-acre asset to funds managed by Fortress Investment Group for an undisclosed price. The Village at Gainesville consists of nine residential buildings — six independent living, one assisted living and two memory care — and several community clubhouses with amenities. Eighty percent of the residences are dedicated to independent living. Continuum states that the property is considered one of the largest seniors housing rental communities …

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Phil-Brusk
FeaturesIndustry Voices

Dual Appraisal Methods Improve Opportunities to Get Fair Taxation for Seniors Housing Properties

by Hayden Spiess

By Phil Brusk and Caleb Vahcic The seniors housing sector can’t seem to catch a break. Owners grappling with staffing shortages and other operational hardships lingering from the pandemic are facing new challenges related to debt and spiraling costs. High interest rates and loan maturations loom over the industry, with $19 billion in loans coming due within the next 24 months, according to Cushman & Wakefield’s “H1 2024 Market Trends and Investor Survey” on senior living and care. Factors driving high costs include wage pressures, inflation and — incredibly — …

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Affordable HousingDevelopmentFloridaNews

Green Mills Group Breaks Ground on $26M Affordable Housing Community in Florida

by Hayden Spiess

OSCEOLA COUNTY, Fla. — Green Mills Group has broken ground on a $26 million affordable seniors housing community in Osceola County.  Dubbed Poinciana Parc, the property will comprise an 86-unit mid-rise building. Amenities at the community will include a fitness center, business center, club/game room, laundry room and swimming pool.  The Florida Housing Finance Corp. awarded the project a 9 percent tax credit allocation in May 2023. Additional funding is being provided by Green Mills Group, TD Bank, Raymond James Affordable Housing Investments and Neighborhood Lending Partners. 

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American-House_Lebanon_Tenn
Assisted LivingCompany NewsMemory CareNewsTennessee

American House, Curana Health Partner at 11 Communities Across Tennessee

by Hayden Spiess

SOUTHFIELD, Mich. — American House Senior Living Communities, a seniors housing owner and operator, has partnered with Curana Health at 11 of its Tennessee communities.  The collaboration provides on-site healthcare services to residents, including routine preventive primary care, illness appointments, 24-hour clinical support, care coordination and specialty appointment arrangement, chronic condition management, medication review and coordination of on-site phlebotomy and imaging.  Visits and services are covered by the patient’s health insurance and are billed by Curana.  Offering assisted living and respite care units, the properties include:  Each of the communities (with …

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Lucinda Baier
Company NewsNewsPeopleTennessee

Brookdale Announces Departure of CEO Lucinda Baier

by Hayden Spiess

BRENTWOOD, Tenn. — Brookdale Senior Living (NYSE: BKD) has announced that Lucinda (Cindy) Baier has stepped down as president and chief executive officer of the company, effective April 13. According to Brookdale, the largest U.S. seniors housing operator based on the American Seniors Housing Association’s 2024 ASHA 50 rankings, the company entered into a separation agreement with Baier and has initiated a search for a new CEO. Baier also resigned from Brookdale’s board of directors.  Baier first joined the company in February 2018. Prior to becoming the CEO, she served as Brookdale’s chief …

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Jason-Dopoulos_Ikaria
FeaturesIndustry Voices

Ikaria Capital Group’s $1.5B Bridge-to-HUD Deal Pipeline is Newly Launched Firm’s Meal Ticket

by Hayden Spiess

Jason Dopoulos and Ken Gould, co-founders of Cleveland-based Ikaria Capital Group, have ambitious plans for their fledgling company, which specializes in financing skilled nursing and seniors housing facilities. The duo is intent on their firm becoming the No. 1 lender in HUD’s Section 232 program, which provides mortgage insurance for residential care facilities such as assisted living facilities and nursing homes. “We want to be the No. 1 HUD lender within three years. We want to do $1 billion to $1.5 billion of bridge loans a year, and we want …

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