Author

Hayden Spiess

Jason Beakas
Company NewsNew YorkNews

Jason Beakas Joins Lument as Originator

by Hayden Spiess

NEW YORK CITY — Jason Beakas has joined Lument as an originator. Serving in a director role, Beakas will support the firm’s seniors housing and healthcare origination efforts in collaboration with Doug Harper and Casey Moore.  Based in Columbus, Ohio, Beakas will serve clients nationwide.  Prior to joining Lument, Beakas worked at Lancaster Pollard, which he joined in 2010. Since 2010, Beakas has managed and underwritten more than 200 transactions totaling roughly $1.7 billion across a range of capital structures including FHA/HUD, Fannie Mae and USDA financing, as well as balance …

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AcquisitionsNewsSkilled NursingWisconsin

Marcus & Millichap Arranges $9.5M Sale of Skilled Nursing Facility in Wisconsin

by Hayden Spiess

MERRILL, Wis. — Marcus & Millichap has arranged the $9.5 million sale of a skilled nursing facility located in Merrill.   Totaling 120 beds, Pine Crest Nursing Home features 117 units, with 105 private rooms and 15 semi-private rooms. A memory care unit, rehabilitation center and special care units were recently added to the property.  The facility was 70 percent occupied at the time of sale. Ray Giannini of Marcus & Millichap brokered the sale on behalf of the seller and procured the buyer. 

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Company NewsNewsPeopleTechnology

Two Senior Living Veterans Join Technology Company Nobi

by Hayden Spiess

HOUSTON — Two new leaders, both veterans of the senior living industry, have joined technology company Nobi. Shelley Esden now serves as chief operating officer, and Kim Lody is now chair of the board of directors for the organization.  Founded in 2018, Nobi produces AI-powered light fixtures that serve as fall detectors for seniors.  Esden, who has more than 25 years of experience in seniors housing organizations, oversees daily operations and lead implementation across communities in her new role. She has held executive roles with both national and regional senior living …

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FeaturesFrom The Magazine

REITs in Hot Pursuit of Seniors Housing Assets

by Hayden Spiess

By Beth Mattson-Teig Real estate investment trusts (REITs) have their foot firmly on the gas when it comes to acquiring seniors housing assets, and they’re taking full advantage of the opportunity to buy at below replacement cost.  The appetite to grow portfolios, particularly on the private pay side of independent living, assisted living and memory care, comes as no surprise given the combined tailwinds of growing consumer demand and a slowdown in new supply.  While the aging population has led to accelerating demand, the high cost of development has forced …

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CaliforniaDevelopmentIndependent LivingNews

Hawthorn Senior Living Opens 149-Unit Independent Living Community Near Sacramento

by Hayden Spiess

RANCHO CORDOVA, Calif. — Developer, owner and operator Hawthorn Senior Living has opened Bear Hollow Estates, a new independent living community located in Rancho Cordova, roughly 15 miles outside Sacramento.  Totaling 149 units, the property features studio, one- and two-bedroom apartments. Amenities at the $46.5 million development include a fitness studio, movie theater, billiards lounge, pub, salon and library. Outdoor features include walking paths, raised garden beds and a fire-pit courtyard.  This marks Hawthorn Senior Living’s sixth community in California. Hawthorn’s national portfolio comprises more than 70 communities. 

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Company NewsIllinoisNewsPeople

Covenant Living Names Tony Galvan Vice President of Resident Experience

by Hayden Spiess

SKOKIE, Ill. — Tony Galvan has joined Covenant Living Communities and Services as vice president of resident experience. Covenant is a non-profit, faith-based senior living organization. In this new role, Galvan is responsible for working with the organization’s 20 communities in all areas impacting resident life, ranging from wellness initiatives to lifestyle programming and more.  While Covenant has always placed a strong emphasis on enhancing the resident experience, this is the first leadership position to spearhead those efforts under the umbrella of operations, according to the organization. Galvan has more than …

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AcquisitionsActive AdultNewsTexas

Capital Square Acquires 62-Unit Active Adult Community in Fredericksburg, Texas

by Hayden Spiess

FREDERICKSBURG, Texas — Capital Square has acquired Woodland Cottages, an active adult community located in Fredericksburg.  Woodland Cottages totals 62 units, with 20 one-bedroom and 42 two-bedroom residences. One-bedroom and two-bedroom apartments at the property average 899 and 1,355 square feet, respectively. Amenities at the community include a 6,000-square-foot clubhouse, a swimming pool, fitness center and dedicated resident concierge.  Capital Square acquired the property on behalf of its CS1031 Texas Active Adult Living I DST fund, which is currently raising equity from accredited investors. 

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Amy-Kotterman
Company NewsNewsOhioPeople

Amy Kotterman Receives Executive Promotion at United Church Homes

by Hayden Spiess

MARION, Ohio — United Church Homes (UCH) has promoted Amy Kotterman, a registered dietitian nutritionist, to the position of senior executive director of integrated operations. In this new leadership role, Kotterman will oversee multiple interdisciplinary service lines at UCH, including middle-market housing, memory care program management and dining services. UCH serves nearly 7,000 residents across more than 90 communities in 15 states and two Native American nations. As senior executive director, Kotterman will be responsible for strategic planning, operational excellence and program integration across service lines. She will lead efforts to ensure …

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FeaturesFrom The MagazineSkilled Nursing

Skilled Nursing Operators Navigate Array of Challenges

by Hayden Spiess

By Jane Adler Similar macro trends are shaping both seniors housing and skilled nursing. The aging population continues to increase demand for services. Occupancies are rising. Limited new development has helped to keep competition in check.  Meanwhile, technology promises to improve operational efficiency and potentially cut expenses. Industry consolidation is ongoing. Older buildings are being renovated. Prices for quality properties are rising, and investors are eager to invest in both seniors housing and skilled nursing. Both segments face similar challenges too. Although the worker shortage has eased somewhat, operators continue …

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Assisted LivingDevelopmentGeorgiaIndependent LivingMemory CareNews

ASC Breaks Ground on 377-Unit Community in Athens, Georgia

by Hayden Spiess

ATHENS, Ga. — Active Senior Concepts (ASC) has broken ground on Celebration Village Athens, a new senior living community in Athens, roughly 80 miles northeast of Atlanta.  Upon completion, the development will total 377 units, with 96 bungalows, 20 independent living cottages, 70 independent living villas, 96 concierge living apartments, 66 assisted living apartments and 29 memory care suites. Celebration Village Athens will also feature a 30,000-square-foot Celebration Club and 4,000-square-foot spa and wellness center.  Amenities at the community will include pickleball and bocce ball facilities, pavilions with grill stations, fire …

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