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Hayden Spiess

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United Church Homes Names Terry Spitznagel COO

by Hayden Spiess

MARION, Ohio — Nonprofit senior living provider United Church Homes (UCH) has named Terry Spitznagel chief operating officer (COO).  Spitznagel, who joined the organization in 2020, will continue to serve as senior executive vice president as well. Previously, she also held the title of chief growth officer.  In her new role, Spitznagel will report directly to Kenneth Young, president and CEO of UCH.  “Terry has consistently demonstrated a deep commitment to our mission and a strong vision for the future of senior living and services,” says Young. “Her strategic leadership, collaborative …

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FinanceNew YorkNewsSkilled Nursing

MonticelloAM Provides $218M Financing for Skilled Nursing Portfolio in Kentucky

by Hayden Spiess

NEW YORK CITY — MonticelloAM has provided $218 million in financing for a skilled nursing portfolio in Kentucky. Comprising 18 facilities, the portfolio totals 1,500 beds across the state.  In addition to a $179.3 million senior bridge loan and a $29 million mezzanine loan, which the undisclosed borrower plans to use to restructure and upsize existing debt, the financing includes a $10 million working capital line of credit that will be used to cover the day-to-day operational needs of the facilities.  New York City-based MonticelloAM originally financed the portfolio in May …

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CaliforniaNewsOperations

Ellore Senior Living Launches Wellness Program in Santa Clara, California

by Hayden Spiess

SANTA CLARA, Calif. — Ellore Senior Living, a recently opened 176-unit seniors housing community in Santa Clara, has launched a new onsite wellness program.  Dubbed Wellness by Ellore, the program will offer onsite healthcare services to residents. Wellness by Ellore offers five “pillars” of care — Medical Advisement, Concierge Medicine, Ellore Med, Ellore Balance and Traditions Memory Care. Dr. Mahyar Ayati is leading the program.  Through an exclusive partnership with Pine Park Health, Concierge Medicine will offer primary and specialist care including dentistry, podiatry, audiology, optometry and therapeutic massage. Ellore Med …

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Assisted LivingFinanceIndependent LivingMemory CareNewsWisconsin

Nuveen Provides $10.6M C-PACE Financing for Development in Wisconsin

by Hayden Spiess

SHEBOYGAN, Wis. — Nuveen Green Capital has provided $10.6 million in C-PACE financing for the construction of a new senior living development in Sheboygan. North Town Partners is the borrower. Upon completion, Charter Senior Living Sheboygan will total 182 independent, assisted living and memory care units within a 191,000-square-foot building.  Charter Senior Living Sheboygan is being developed jointly by DMK Development Group, North Town Partners and Charter Senior Living. The project’s total cost is $55 million. 

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Assisted LivingMemory CareMichiganNews

BHI Provides $49M Bridge-to-HUD Financing for Portfolio in Michigan

by Hayden Spiess

DETROIT — BHI, the U.S. branch of Bank Hapoalim B.M., has provided $49 million in bridge-to-HUD financing for a portfolio of three communities located in suburbs of Detroit.  Shahid Imran, doing business as Hampton Manor, is the borrower.  The portfolio includes Hampton Manor of Dundee, Hampton Manor of Trenton and Hampton Manor of Hamburg. Together, the communities total 221 units, with 171 assisted living and 50 memory care units.  Proceeds from the bridge-to-HUD facility will be used refinance existing debt and facilitate a partnership buyout, with Imran assuming full ownership of …

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News

Boomer Generation Moving Into Seniors Housing at Record Rates, Says NIC

by Hayden Spiess

ANNAPOLIS, Md. — Seniors of the boomer generation are moving into seniors housing communities at a record rate, according to a new report published by the National Investment Center for Seniors Housing & Care (NIC).  NIC MAP data from the Annapolis, Maryland-based organization, shows that the seniors housing occupancy rate in the United States increased 0.8 percentage points to 88.1 percent in the second quarter of 2025, up from 87.3 in the first quarter.  Occupancy of independent living units saw a strong increase of 0.8 percentage points to 89.7 percent, a …

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AcquisitionsFloridaIndependent LivingNews

Town Lane Acquires Two Independent Living Communities in Florida

by Hayden Spiess

NAPLES and SARASOTA, Fla. — Real estate investment management firm Town Lane has acquired two independent living communities located in Florida. Together the properties total 373 units.  Located in Naples, Discovery Village Naples was opened in 2020. Discovery Village Sarasota Bay in Sarasota was opened in 2022. Both communities are located on campuses that also house assisted living and memory care facilities.  Discovery Senior Living will continue to lease and operate the communities.  Amenities at the properties include outdoor courtyards and pools, fitness and rehab spaces, theaters and beauty salons.  “The …

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Assisted LivingDevelopmentFinanceIndependent LivingMassachusettsNewsSkilled Nursing

MassDevelopment Issues $134.9M Tax-Exempt Bond for Seniors Housing Project at Lasell University in Newton, Massachusetts

by Hayden Spiess

NEWTON, Mass. — MassDevelopment has issued a $134.9 million tax-exempt bond to Lasell Village Inc. for the renovation and expansion of a senior living community located on the campus of Lasell University in Newton.  The financing will fund the purchase of 1.4 acres of land owned by Lasell University and the construction of a new building. Upon completion, the new building will feature 42 independent living apartments, a bistro, fitness and wellness centers, a multipurpose room, common space and other amenities.  Lasell Village is a charitable corporation that was formed in …

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Affordable HousingDevelopmentNew YorkNews

Mulford Corp., The Community Builders, Yonkers Housing Authority Break Ground on Affordable Seniors Housing Development in Yonkers, New York

by Hayden Spiess

YONKERS, N.Y. — The Mulford Corp., The Community Builders (TCB) and Yonkers Housing Authority have broken ground on a new affordable seniors housing development located in Yonkers.  Dubbed Willow at The Ridgeway, the project marks the sixth and final phase of the redevelopment of the former Cottage Place Gardens public housing complex.  Upon completion, the community will comprise 92 units, with 85 one-bedroom and seven two-bedrooms apartments. The one- and two-bedroom residences will average 550 and 800 square feet, respectively.  Apartments will be reserved for seniors referred from the Yonkers Housing …

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AcquisitionsAssisted LivingFloridaIndependent LivingIowaMemory CareNews

Chicago Pacific Founders Acquires Communities in Florida, Iowa

by Hayden Spiess

HERNANDO, Fla. and CORALVILLE, Iowa — Chicago Pacific Founders (CPF) has acquired two senior living communities, The Summit of Citrus Hills and The Summit of Coralville.  Located in Hernando, Florida, and Coralville, Iowa, respectively, The Summit of Citrus Hills and The Summit of Coralville feature independent living, assisted living and memory care units.  Previously known as Grand Living at Citrus Hills and Grand Living at Bridgewater, the communities will now be operated by Grace Management Inc., a subsidiary of CPF.  According to CPF, the acquisitions align with the company’s strategy of …

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