Sunday, December 22, 2024
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Hayden Spiess

Investment-Panel
FeaturesFinance

Stars are Aligned for Healthy Investment Climate in 2025, Says InterFace Panel

by Hayden Spiess

PHILADELPHIA — The investment market for seniors housing is in a favorable position heading into the new year thanks to a confluence of factors, says Scott Corbin, director at Boston-based AEW Capital Management. The firm has roughly $3 billion in assets under management within this niche property type. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. “We’ve seen a full rebound in recovery. We’re not necessarily back …

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Assisted LivingDevelopmentIndependent LivingMemory CareNewsVirginia

NexCore Group, Experience Senior Living Break Ground on 215-Unit Senior Living Community in Metro D.C. 

by Hayden Spiess

Falls Church, Va. — NexCore Group and Experience Senior Living (ESL) have broken ground on The Reserve at Falls Church, a new, 215-unit senior living community in Falls Church, roughly 10 miles outside Washington, D.C.  Upon completion, the property will feature independent living, assisted living and memory care units across 15 stories. Amenities at the community will include multiple restaurants, an indoor saltwater pool, spa, fitness center and a “maker space” for creative endeavors.  Nuveen Real Estate is providing an undisclosed amount of capital for the project.  Scheduled to open in …

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Assisted LivingFinanceIndependent LivingMemory CareNewsNorth Carolina

Berkadia Arranges $71.3M Refinancing for Senior Living Community in Greensboro, North Carolina

by Hayden Spiess

Greensboro, N.C. — Berkadia has arranged a $71.3 million loan for the refinancing of Abbotswood at Irving Park, a senior living community located in Greensboro. KISCO Senior Living was the borrower.  Austin Sacco, Steve Muth, Garrett Sacco and Alec Rosenfeld of Berkadia Seniors Housing & Healthcare secured the financing through Freddie Mac.  Located at 3504 Flint St., Abbotswood at Irving Park offers cottages and independent living and assisted living units, as well as memory care suites. 

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Company NewsNewsTennessee

Brookdale Declines to Renew 120-Community Master Lease with Ventas

by Hayden Spiess

BRENTWOOD, Tenn. — Brookdale Senior Living, the largest seniors housing operator in the United States, has declined to exercise its right to renew an existing master lease with real estate investment trust Ventas.  Covering 120 seniors housing communities, the lease will remain effective through its current term, which ends Dec. 31, 2025. Annual cash rent under the master lease will total $113.6 million in 2025.  In a press release, Brentwood-based Brookdale indicated the portfolio has “historically generated significant negative cash flows.” Additionally, Brookdale stated that it is open to continuing discussions …

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Assisted LivingFinanceMemory CareNewsWisconsin

MonticelloAM Provides $18M Bridge Loan for Seniors Housing Community in Wisconsin

by Hayden Spiess

NEW YORK CITY — MonticelloAM has provided an $18 million bridge loan to finance a seniors housing community located in Wisconsin. Karina Davydov, managing director of New York City-based MonticelloAM, originated the financing.  The undisclosed borrower will use the proceeds to refinance an outstanding debt and position the property, which totals 100 assisted living and memory care units, for HUD financing. 

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CaliforniaCompany NewsNews

LTC Properties Appoints New Co-Chief Executive Officers

by Hayden Spiess

WESTLAKE VILLAGE, Calif. — LTC Properties, a real estate investment trust that invests primarily in seniors housing and health care properties, has announced the appointment of two new co-chief executive officers, Pam Kessler and Clint Malin.  Kessler and Malin previously served as co-presidents of the company, with Kessler also acting as chief financial officer since 2007 and Malin holding the position of chief investment officer since 2004. The new appointments become effective Dec. 31 of this year.  Wendy Simpson, who has acted as LTC Properties CEO since 2007, will continue to …

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AcquisitionsActive AdultMinnesotaNews

Podawiltz Sells 114-Unit Active Adult Community in Metro Minneapolis

by Hayden Spiess

OAKDALE, Minn. — Podawiltz Development Corp. has sold Cottages at Aspen, a 114-unit active adult community located in Oakdale, roughly 20 miles east of Minneapolis.  Built in 1991 and renovated in 2008, the property totals 99,600 square feet and features one- and two-bedroom townhomes, averaging 874 square feet, for residents age 55 and older. Amenities at the community include a library, ponds, walking areas and lawns.  Josh Talberg of JLL represented Podawiltz in the transaction, and Pat McMullen and Joseph Peris of JLL arranged acquisition financing for the undisclosed buyer.  The …

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FeaturesFrom The Magazine

Architects Embrace Placemaking

by Hayden Spiess

From ground-up development to renovations, this new wave of projects aims to connect seniors more fully with their surroundings. As the seniors housing industry matures and evolves to meet the needs of a changing customer, so too does the design of the communities. Outdoor spaces have become more vital than ever before as new research emerges about the power of natural sunlight. Architects are integrating technology into design with the goal of creating environments that not only enhance the resident experience but also support operational efficiencies.  Meanwhile, staff break rooms …

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FinanceNews

Cap Rates Remain Flat, Even Compress in Some Cases, CBRE Investor Survey Reveals

by Hayden Spiess

DALLAS — A clear majority of respondents to CBRE’s U.S. Senior Housing & Care Investor Survey conducted in October reported either no change or a decrease in capitalization rates from the prior survey in April.  Meanwhile, the industry outlook for rent growth is less bullish than it was a short time ago as more survey respondents in October predicted flat rent growth in the year ahead,  with April’s poll findings. Administered via e-mail in October, the 15th edition of CBRE’s survey polled the same group of seniors housing real estate professionals …

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Industry Voices

Exceptional Dining: A Key Ingredient for a Fulfilling Lifestyle

by Hayden Spiess

Nothing shapes — or caps off — an enjoyable day quite like an extraordinary meal served in comfortable surroundings. And nothing fuels an active, engaged lifestyle like dishes made from the finest ingredients and prepared with the utmost care.  Many of the most cherished experiences are shared amid a delicious meal with family and friends. This is true of seniors housing communities, where the opportunity to eat with friends and neighbors in a relaxed atmosphere is one of the primary benefits. At the senior living communities where we work, creating these …

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