Monday, March 31, 2025
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Hayden Spiess

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Savvy Operators Turn Market Turbulence into Opportunity, InterFace Panel Reveals

by Hayden Spiess

LOS ANGELES — The challenges in the commercial real estate lending market that emerged in the fourth quarter of 2022 — highlighted by the sharp rise in interest rates — still linger and have forced seniors housing developers, investors and operators to adjust their strategies. 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’re in an era now where there’s a lot of turmoil, I’d say, …

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AcquisitionsCompany NewsNewsOhio

Welltower to Acquire Amica Senior Lifestyles Portfolio for C$4.6B

by Hayden Spiess

TOLEDO, Ohio — REIT Welltower Inc. is under contract to acquire a seniors housing portfolio located in Canada for C$4.6 billion ($3.2 billion). In addition to 38 ultra-luxury communities, the acquisition includes nine entitled development parcels. Ontario Teachers’ Pension Plan is the seller.  Located throughout neighborhoods in Toronto, Vancouver and Victoria, the communities include 31 in-place properties as well as seven communities under construction. Of the 31 in-place communities, 24 are stabilized, with seven recently opened properties still undergoing the lease-up process. The under-construction communities will be acquired upon the achievement …

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Clearwater Living Promotes Danielle Morgan to CEO

by Hayden Spiess

NEWPORT BEACH, Calif. — Senior living developer and operator Clearwater Living has promoted Danielle Morgan to the role of chief executive officer with the company. Morgan, who joined Clearwater in 2017, has more than 30 years of experience in the financial services and senior living industries. Prior to joining Clearwater, Morgan held the role of chief operations officer of MBK Senior Living. She also serves on the board of directors for the California Assisted Living Association (CALA) and as a member of the executive board for the American Seniors Housing Association …

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Diversified Healthcare Trust Closes $135M Portfolio Sale

by Hayden Spiess

NEWTON, Mass. — Diversified Healthcare Trust (DHC) has announced the closing of a $135 million portfolio sale.  Originally announced in September of last year, the sale involves the disposition of 18 triple-net leased senior living communities. Totaling 876 units, the properties are located across 10 states.  Brookdale Senior Living acquired the portfolio. Massachusetts-based DHC plans to use the proceeds from the transaction to pay down its senior secured notes due in January 2026.  “By divesting of these non-core assets, we are continuing to focus DHC’s portfolio on high-performing communities with significant …

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FeaturesFrom The Magazine

Why Acquisitions Market Could Thrive in ’25 

by Hayden Spiess

An increase in stability and debt availability will lead to an uptick in transactions but not all buyers — or properties — are created equal.  To say that the seniors housing sector has encountered strong headwinds over the past few years would be an understatement. The property sector was uniquely impacted by the COVID-19 pandemic. It scarcely had a chance to recover and enjoy rebounding occupancy before being faced with the reality of heightened interest rates. Amid all the challenges, industry professionals adopted a motivational yet pragmatic mantra and strategy: …

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Affiliate of Meridian Acquires 127-Unit Assisted Living, Memory Care Community in Metro Denver

by Hayden Spiess

PARKER, Colo. — An affiliate of Meridian Senior Living LLC has acquired Pine Grove Crossing, a 127-unit assisted living and memory care community located in Parker, roughly 30 miles outside Denver.  JLL brokered the sale on behalf of the seller, a real estate private equity group. Meridian purchased and will operate the community on behalf of the buyer, an institutional investor.  Completed in 2018, the property features 100 assisted living and 27 memory care residences. Amenities at the community include shuttle bus excursions, private transportation services, a beauty salon and barbershop, …

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Apollo Agrees to Acquire Bridge Investment Group for $1.5B

by Hayden Spiess

NEW YORK CITY AND SALT LAKE CITY — Global alternative asset manager and private equity firm Apollo (NYSE: APO) has entered into an agreement to acquire Bridge Investment Group Holdings Inc. (NYSE: BRDG) in an all-stock transaction valued at approximately $1.5 billion. The deal is expected to close in the third quarter. Upon completion of the transaction, Bridge will operate as a privately held company, and shares of Bridge common stock will no longer be listed on the New York Stock Exchange. Bridge was ranked No. 21 on the American …

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Elksy Development Completes 147-Unit Independent Living Community Near Boston

by Hayden Spiess

WEYMOUTH, Mass. — Elksy Development has completed the construction of and opened Cornerstone of Weymouth, a new independent living community located in Weymouth, roughly 15 miles south of Boston.  Architecture and design firm Meyer designed the building, which totals 154,962 square feet with 147 units. Amenities at the community include a theater room, game room, library, salon, fire pit, pickleball court, bocce court, outdoor grills and gardening beds. The property features three dining venues, including a coffee bar, pub and full-service restaurant.  Sona Senior Living will operate the community on behalf …

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Benchmark Senior Living Underway on 86-Unit Assisted Living, Memory Care Community in New Jersey

by Hayden Spiess

SCOTCH PLAINS, N.J. — Benchmark Senior Living is underway on the development of a new assisted living and memory care community in Scotch Plains, New Jersey.  Upon completion, the facility will total 81,692 square feet of indoor and outdoor space, with 86 studio and one-bedroom units. Amenities at the property will include outdoor patios, a hair salon, recreation room, bistro and club room. A rooftop deck will host regular social hours and other events. Personalized care including assistance with bathing, dressing and medication management, will be available.  Benchmark in Scotch Plains …

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JLL Arranges Sale of 88-Unit Assisted Living, Memory Care Property in New Jersey

by Hayden Spiess

FRANLIN LAKES, N.J. — JLL Capital Markets has arranged the sale of Sunrise of Franklin Lakes, an 88-unit assisted living and memory care property located in Franklin Lakes, roughly 30 miles northwest of New York City.  Developed in 2021, the community comprises a two-story building with 51 assisted living and 37 memory care residences. Assisted living offerings at the property include studio, one- and two-bedroom apartments, and memory care units are available in private or and semi-private configurations. Amenities at the community include activity rooms and social areas, a bistro, theater, …

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