WALNUT CREEK, Calif. — Kisco Senior Living has named Joseph Villanueva as executive director at The Kensington at Walnut Creek. Villanueva brings more than 15 years of senior living experience to the community. He started as a licensed vocational nurse at a retirement community and has held a variety of positions within the industry including associate executive director, and previously served as executive director of another community in California.
BRANCHBURG, N.J. — Walters has opened Cornerstone at Branchburg, a LEED-certified community featuring 150 premium age- and income-restricted housing units in Branchburg, approximately 35 miles west of Staten Island. Situated on nearly 12 acres in Somerset County, the two-building development offers one- and two-bedroom apartments ranging from approximately 700 to 900 square feet. Cornerstone at Branchburg apartments are available to residents whose incomes are at or below 60 percent of the area’s median income. Rental rates are based on the renter’s gross annual income, according to the rent/income requirements chart.
SAN ANTONIO and DALLAS — Blueprint Healthcare Real Estate Advisors has brokered the sale of two seniors housing communities in the San Antonio and Dallas markets. The two buyers both plan to convert the two properties into inpatient detox and residential substance abuse behavioral healthcare centers. The Blueprint team on the deal included Andrew Sfreddo, Shane Harmon, Gunnar Raney, Amy Sitzman and Giancarlo Riso. The buyers, seller and price were not disclosed.
WICHITA, Kan. — Anthem Memory Care has named Sara Miller as executive director for Chisholm Place in Wichita. She will oversee all daily care, programming and operations. Miller previously was residence director and assistant residence director with Legend Senior Living. She brings over 16 years of healthcare experience to this position. Miller earned a bachelor’s degree in health services management and community development with a minor in aging studies from Wichita State University.
CHICAGO — Life Care Services has opened the doors on Clarendale Six Corners, a 258-unit seniors housing community in the Portage Park neighborhood of northwest Chicago. Rising 10 stories at the intersection of Milwaukee Avenue and Irving Park Road, the community features 114 independent living apartments with one, two and three-bedroom layouts, 98 assisted living units and 46 memory care apartments.
CALIFORNIA — Forbright Bank and HJ Sims have partnered to finance the acquisition of two skilled nursing facilities in California. The skilled nursing facilities feature approximately 150 beds. The borrower plans to invest in the physical plants of both facilities. The financing partners described the buyer as “a top-tier skilled nursing operator.” Further details on the properties, buyer and seller were not disclosed. Forbright and HJ Sims closed a unique unitranche loan product to provide financing for the acquisition. This loan product acts as a single debt obligation with one …
MINNEAPOLIS — Health Dimensions Group (HDG), a Minneapolis-based senior living, post-acute and long-term care management and consulting organization, has added three members to its financial leadership team. Melissa Zygarlicke joined HDG as senior director of finance to oversee all aspects of financial reporting and accounting for communities within HDG’s management portfolio. A certified public accountant and experienced chief financial officer, her areas of expertise include financial statement analysis, risk and compliance management, and financial reporting. Carmen Broska was promoted to senior director of revenue services. In her role, Broska manages …
On its surface, now is a difficult time to be in seniors housing development or operations. Rising interest rates have made financing or refinancing challenging. Occupancy rates, while improving, are still well below pre-pandemic levels. Expenses have increased dramatically, particularly for labor, while rent increases haven’t been able to keep up. JP LoMonaco, now an appraiser with CBRE after the company bought his former appraisal firm Valuation & Information Group in June, notes that the work he does reflects the tough times. “We saw a sudden shift from new loan …
HARTLAND and GRAND BLANC, Mich. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two Bella Vita-branded seniors housing communities in Michigan. The communities are located approximately 26 miles from each other between Detroit and Flint. Bella Vita – Hartland is located on 6.8 acres and totals 41,534 square feet of livable area, with 61 units offering both assisted living and memory care. Bella Vita- Grand Blanc is located on 4.65 acres and totals 41,508 square feet of livable space, with 61 units also providing both assisted living …
BLOOMFIELD, N.J. — Juniper Communities, a Bloomfield-based operator, has promoted Kathryn Bainbridge to regional director of operations for Texas. Bainbridge will support five Juniper Villages-branded communities within the state serving as a resource to the executive directors and leadership team members. For the past 4.5 years, Bainbridge was the nursing home administrator at Juniper Village at Brookline Rehabilitation and Skilled Care in State College, Pennsylvania. In all, she has been with Juniper Communities about nine years, and has worked in senior living for more than 20 years. Bainbridge received her …
