Author

Jeff Shaw

FeaturesNewsOperations

Argentum Panel: COVID May Have Forced Operators to Change for the Better

by Jeff Shaw

NEW ORLEANS — While the COVID-19 pandemic was a tragic and challenging time for seniors housing operators, many are now looking at the ways the industry can improve as a result. Those operators can see, in retrospect, how the way they were forced to respond to the crisis will pay dividends for years. “We’re looking at adjustments that should’ve always been done this way,” said Stephanie Harris, CEO and principal at Arrow Senior Living. “That’s one of the silver linings from COVID.” Harris made her comments during the “Insights From …

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Active AdultDevelopmentNew JerseyNews

AMS Acquisitions, Vector Group Break Ground on 100-Unit Seniors Housing Project in Howell, New Jersey

by Jeff Shaw

HOWELL, N.J. — A partnership between New Jersey-based investment firm AMS Acquisitions and Miami-based holding company Vector Group has broken ground on a 100-unit seniors housing project in Howell, located east of Trenton near the Jersey Shore. The site spans 14 acres, and the four-building project will feature one- and two-bedroom units that will be reserved for renters age 55 and above. Amenities will include a pool, great room with a communal kitchen, fitness center, outdoor grilling areas and a tenant lounge. Construction is expected to last about 18 months.

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Company NewsNewsPeople

Grandbridge Veteran Allen McMurtry Retires Following 35-Year Career

by Jeff Shaw

CHARLOTTE, N.C. — Allen McMurtry, senior vice president of Charlotte-based Grandbridge Real Estate Capital and longtime seniors housing investment sales broker, has retired after 35 years. The Tampa, Florida native was an early entrant into the then-burgeoning seniors housing industry in 1987. Over the course of his career, McMurtry dedicated his work exclusively to the sale of seniors housing communities nationally, facilitating the sale over 200 properties across 35 states. In 1984, McMurtry was a land broker in the Tampa Bay area. After a few years of facilitating such sales, …

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AcquisitionsAssisted LivingFloridaNews

SLIB Arranges Sale of 173-Unit Portfolio in Florida

by Jeff Shaw

LUTZ and ORANGE CITY, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two seniors housing communities in Florida. Totaling 173 units of assisted living and memory care, the properties are located in the Tampa suburb of Lutz and the Orlando suburb of Orange City. The seller is a partnership between an institutional capital provider and a national operator. The company initially acquired the communities as part of a larger portfolio of campus-style assets. The buyer is a Florida-based regional owner-operator continuing to grow across the Southeast. …

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FinanceIndianaNewsSkilled Nursing

Northland Networks Arranges Refinancing for 100-Bed Skilled Nursing Facility in Gary, Indiana

by Jeff Shaw

GARY, Ind. — Northland Networks has arranged an undisclosed amount of financing for a 100-bed skilled nursing facility in Gary, just across the state border from Chicago. The loan will refinance existing debt on the property. Further information on the borrower, loan and property was not disclosed.

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DevelopmentIndustry Voices

Meet Evolving Demands of Residents, Staff with Mixed-Use Integration

by Jeff Shaw

By Ray Yancey and Janice Sanada, LRS Architects The seniors housing industry is constantly evolving to meet the needs of residents. The baby boomer generation is quickly becoming the largest demographic of the seniors housing community, and their demands significantly differ from their predecessors. Whereas previous generations embraced designs where seniors housing communities were isolated from the broader community, baby boomers desire a melding of suburban and urban elements, such as entertainment venues, restaurants, professional business services and retail spaces. They also want these amenities to be closer. Blending these …

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AcquisitionsFinanceIllinoisNews

CBRE Arranges Acquisition Financing for 348-Unit Lexington Square of Elmhurst in Illinois

by Jeff Shaw

ELMHURST, Ill. — CBRE has arranged an undisclosed amount of financing for the sale of Lexington Square of Elmhurst, a 348-unit independent living and assisted living community in Elmhurst, approximately 17 miles west of Chicago. The property was built in 1990. The borrower, Focus Healthcare Partners LLC, has purchased the asset and rebranded it as The Roosevelt at Salt Creek. Focus plans to execute a significant capital improvement plan and convert the existing entrance-fee CCRC model to rental units. Aron Will, Matt Kuronen and Michael Cregan of CBRE National Senior …

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AcquisitionsNewsWisconsin

Ziegler Advises on Sale of 101-Unit Terova Senior Living in Mequon, Wisconsin

by Jeff Shaw

MEQUON, Wis. — Ziegler has acted as exclusive financial advisor to Marquee Capital on the sale of Terova Senior Living, a 101-unit senior living community in Mequon, a northern suburb of Milwaukee. Marquee Capital is the real estate company affiliated with Marcus Investments LLC, a family office. Located in one of the most affluent suburbs in Wisconsin, the community represented the only senior living asset owned by Marquee in the state. Terova was built in 2005. Between 2020 and 2022, Marquee Capital renovated and repositioned the community as a for-profit …

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Assisted LivingNewsOperationsPeople

Bridges by EPOCH Names Luidja Jean Louis as Executive Director of Community in Lexington, Massachusetts

by Jeff Shaw

LEXINGTON, Mass. — Bridges by EPOCH has named Luidja Jean Louis as executive director of Bridges by EPOCH at Lexington, a memory care assisted living community in Lexington. Louis’ daily responsibilities include directing the community’s overall operations and leading team members in providing care. Louis has served as the community’s wellness director since March 2022. Louis holds several higher education diplomas and certifications, including an associate’s degree in nursing from Quincy College.

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AcquisitionsIndependent LivingNevadaNews

SLIB Negotiates Sale of 131-Unit Mountain Lakes Estates in Reno, Nevada

by Jeff Shaw

RENO, Nev. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Mountain Lakes Estates, a 131-unit independent living community in Reno. The property was built in 2020 and totals 120,316 square feet on approximately 5.2 acres of land. The seller was a regional owner-operator located in the West. The buyer was a private equity company based in New York that specializes in active adult and independent living communities. The price was not disclosed. Jason Punzel, Dave Balow, Vince Viverito and Brad Goodsell of SLIB handled the transaction. “The …

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