Author

Hayden Spiess

The-Preserve_Mentor-Ohio
AcquisitionsNewsOhio

Cardinal Senior Living Purchases Three Communities in Northeast Ohio

by Hayden Spiess

GREEN and MENTOR, Ohio — Cardinal Senior Living has completed the purchase of three communities in northeast Ohio. The acquisitions include two properties in Green and one in Mentor.  GreenView Senior Assisted Living and Brier Creek in Green, Ohio, total 99 and 134 units, respectively. Brier Creek is comprised fully of independent living units, and GreenView features assisted living and memory care residences. The Preserve in Mentor totals 48 units, with 23 memory care and 25 assisted living residences.  With the new acquisitions, Cardinal’s Ohio portfolio totals six communities.  “Ohio continues …

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Hyde-Park_Tampa-Fla
AcquisitionsFloridaNew JerseyNews

Foundry, AEW Acquire Two Communities in Florida, New Jersey 

by Hayden Spiess

HARRINGTON PARK, N.J. and TAMPA, Fla. — Foundry Commercial, with institutional capital partner AEW, has acquired two senior living communities. The properties include Allegro Harrington Park roughly 20 miles north of New York City in Harrington Park, New Jersey, and Allegro Hyde Park, a community located in Tampa’s Hyde Park neighborhood. Allegro Living, Foundry Commercial’s wholly owned senior living management platform, operated the communities prior to the acquisition and will continue to serve as the operator.  Delivered in 2021, Allegro Harrington Park features 173 units and a full continuum of care. …

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David Rieth (left) and Courtney Clyde
Company NewsNews

Continuum Advisors Adds David Rieth, Promotes Courtney Clyde

by Hayden Spiess

TAMPA, Fla. — Seniors housing investment sales and advisory firm Continuum Advisors has expanded its national investment sales team.  David Rieth has been hired as director at the Florida-based company. Additionally, Courtney Clyde has been promoted, also to the role of director.  Rieth joins Continuum from Longview Senior Housing, a Blackstone company. At Longview, he helped oversee asset management, financial analysis and divestment for more than $1 billion in seniors housing communities.  Prior to joining Continuum in October 2023, Clyde worked in multifamily property management at Preferred Apartment Communities, another Blackstone …

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Steven-Stumph
FeaturesIndustry Voices

Gerontological Advantage: Specialized Leadership is the Future of Senior Living 

by Hayden Spiess

By Steven Stumph The senior living industry is currently navigating a seismic shift. As the sector moves beyond traditional “care-and-custodial” models toward more proactive, people-centered approaches, senior living executives must rethink how communities support the whole resident — beyond delivering care. In 2026, maintaining a competitive advantage requires more than real estate acumen or operational efficiency — it requires a sophisticated understanding of aging itself. As resident expectations become more individualized and our understanding of the needs of older adults grows increasingly complex, industry leaders must be able to translate …

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Ballantine Greens
Active AdultDevelopmentNew JerseyNews

Garden Communities Underway on 250-Unit Community Near Newark

by Hayden Spiess

PARSIPPANY, N.J. — Garden Communities is underway on the development of a new active adult community located in Parsippany, roughly 20 miles northwest of Newark.  Upon completion, Ballantine Greens will total 250 residences, with one- and two-bedroom apartments.  Situated on 20 acres, the project is a redevelopment of a private country estate and the former headquarters of GlaxoSmithKline.  Amenities at the community will include a clubhouse with a fitness center, saunas and a sports simulator, as well as a heated swimming pool and spa, activity area, putting green, bocce courts, electric …

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FinanceIndianaNewsSkilled NursingVirginia

MonticelloAM Provides $195.7M in Financing for Skilled Nursing Portfolio 

by Hayden Spiess

NEW YORK CITY — MonticelloAM, with firm affiliates, has provided $195.7 million in financing for a skilled nursing portfolio located in Virginia and Indiana.  The undisclosed borrower will use $184.7 million in bridge and mezzanine loans to refinance three skilled nursing facilities in Virginia and acquire four skilled nursing properties in Indiana. Together, the portfolio totals more than 900 beds.  Additionally, the financing includes an $11 million working capital line of credit, which will support the day-to-day expenses of the facilities.  “Skilled nursing operators who are expanding their portfolio need a …

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AcquisitionsMichiganNews

Marcus & Millichap Brokers $7.3M Sale of Portfolio in Southern Michigan

by Hayden Spiess

COLDWATER and HILLSDALE, Mich. — Marcus & Millichap has brokered the $7.3 million sale of a three-campus seniors housing portfolio located in southern Michigan.  Totaling 100 beds, Drews Place is located in Hillsdale and Coldwater.  Jim Knapp of Marcus & Millichap arranged the sale on behalf of the undisclosed seller.  “The new owner sees Drews Place as an opportunity to grow their presence in the seniors housing sector,” says Knapp. “In rural and small-town markets, we continue to see opportunities for operators to fill gaps in seniors housing and care services …

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River Glen -St. Charles
AcquisitionsAssisted LivingIllinoisIndependent LivingMemory CareNews

Citrine Investment Group Sells 106-Unit Community in Metro Chicago

by Hayden Spiess

ST. CHARLES, Ill. — Citrine Investment Group has sold River Glen of St. Charles, a senior living community located in St. Charles, about 45 miles west of Chicago.  Citrine acquired the property, which totals 106 units, in January 2023. The community includes independent living, assisted living and memory care residences.  Under Citrine’s ownership, River Glen of St. Charles transitioned from an entrance-fee structure to a market-rate rental model. Citrine also invested in strategic capital improvements throughout the community.  “River Glen benefited from Citrine having the conviction to take on the entrance …

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Avanti-Hills_Mesquite-Texas
Affordable HousingDevelopmentFinanceNewsTexas

Walker & Dunlop Arranges $30M Financing for Affordable Seniors Housing Project in Texas

by Hayden Spiess

MESQUITE, Texas — Walker & Dunlop has arranged approximately $30 million in financing for Avanti Hills, an affordable seniors housing community currently under development in Mesquite in the Dallas-Fort Worth metro. The project is being developed by a joint venture between KCG Development, The Javelin Group and the Mesquite Housing Finance Corp.  Walker & Dunlop Affordable Housing Equity provided low-income housing tax credit (LIHTC) equity for the project, which is supported by tax-exempt bond financing through the Mesquite Housing Finance Corp. Citi Community Capital and Bank of America are serving as …

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Company NewsNews

RiverGlade Capital Acquires Senior Living Residences

by Hayden Spiess

CHICAGO — RiverGlade Capital Partners has acquired Senior Living Residences (SLR), a Northeast-based seniors housing operator.  Under the new partnership with Chicago-based RiverGlade, SLR will continue to operate under its existing name and leadership team. SLR’s founder, Bob Larkin, will transition to the company’s board of directors as part of the transaction.  Founded in 1990, SLR operates a portfolio of 24 independent living, assisted living and memory care communities in Massachusetts, Connecticut, New Hampshire, New Jersey and Rhode Island.   RiverGlade Capital is a healthcare-focused private equity firm. 

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