Wednesday, February 26, 2025
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Jeff Shaw

FinanceFrom The Magazine

GSEs Are Down, But Not Out

by Jeff Shaw

Freddie Mac is in the midst of a transaction rally, while Fannie Mae endures a wave of delinquencies fueled by troubled seniors housing loans. By Jeff Shaw Freddie Mac and Fannie Mae — collectively known as the government-sponsored enterprises (GSEs) — have been on divergent paths in recent years when it comes to lending in the seniors housing sector. The two agencies posted similar deal volumes in 2019 before the onset of the COVID-19 pandemic, with both closing over $3 billion in loans that year. While loan closings fell during …

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Fox Knoll Village in Aurora, Illinois
AcquisitionsIllinoisNews

Prime Healthcare Agrees to Acquire 14 Ascension Healthcare Properties in Metro Chicago, Plans $250M in Improvements

by Jeff Shaw

CHICAGO — Prime Healthcare has agreed to acquire nine hospitals and associated physician practices in Illinois, as well as five post-acute and senior living facilities, from St. Louis-based Ascension. The properties are largely located in Chicago and its surrounding suburbs. The transaction is expected to close in the first quarter of 2025, subject to standard regulatory and canonical approvals, as Ascension is a Catholic health system. The price was not disclosed. The acquisition includes the following Ascension hospitals: Prime Healthcare also acquired multiple post-acute and senior living facilities operated by …

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CaliforniaFinanceNews

Lument Provides $38.8M Freddie Mac Refinancing for Carlton Senior Living Portfolio in California

by Jeff Shaw

FREMONT and SAN JOSE, Calif. — Lument has provided $38.8 million in Freddie Mac refinancing loans for Carlton Senior Living, one of Northern California’s largest senior living providers with 11 independent living, assisted living, and memory care communities in operation.  The loans are spread across two separate properties — $13.5 million to refinance a 123-unit senior living property in Fremont and $25.3 million to refinance a 126-unit senior living property in San Jose. Both loans feature a fixed interest rate, 10-year term and 30-year amortization. One loan also provides funds …

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AcquisitionsNewsPennsylvaniaSkilled Nursing

ESI Brokers the Sale of 118-Bed Beacon Ridge in Indiana, Pennsylvania

by Jeff Shaw

INDIANA, Pa. — Evans Senior Investments (ESI) has arranged the sale of Beacon Ridge, a skilled nursing community in the small borough of Indiana, approximately 50 miels east of Pittsburgh. Beacon Ridge opened its doors in the 1970s and has since completed two major renovation projects. The community is licensed for 118 skilled nursing beds and offers a unit mix, including private units, semi-private units, and three-bed wards. At the time of marketing,  Beacon Ridge was 63% occupied and operating with a negative net operating income at the time of …

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AcquisitionsIllinoisNews

SLIB Negotiates Sale of 188-Unit Willow Falls in Crest Hill, Illinois

by Jeff Shaw

CREST HILL, Ill. ­— Senior Living Investment Brokerage has arranged the sale of Willow Falls, a seniors housing community in Crest Hill, approximately 35 miles southwest of downtown Chicago. The Class A, newer construction asset features 76 units of independent living, 81 units of assisted living and 31 units of memory care on approximately 2.5 acres.  The seller was a Midwest-based institutional capital provider. The buyer is a Midwest-based owner-operator looking to strategically add to its existing footprint throughout the Midwest. The price was not disclosed. Ryan Saul and Bradley …

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NewsPeople

Hebrew SeniorLife Names Richard J. Henken Chair of its Board of Directors

by Jeff Shaw

BOSTON — Hebrew SeniorLife, a Boston-based provider of senior healthcare and senior living communities in New England and an affiliate of Harvard Medical School, has named Richard J. Henken chair of its board of directors. Henken has been a volunteer leader at Hebrew SeniorLife for 15 years. In addition to serving on the Hebrew SeniorLife Board of Directors, Henken has served as chair of the senior living committee, and also serves on the governance, real estate and Roslindale campus planning committees. (Roslindale is a neighborhood in Boston.) Henken steps into …

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CCRCDevelopmentNewsNorth Carolina

PruittHealth Breaks Ground on $385.5M Redevelopment at The Oaks at Whitaker Glen in Raleigh

by Jeff Shaw

RALEIGH, N.C. — PruittHealth has broken ground on its $385.5 million redevelopment project at The Oaks at Whitaker Glen, a continuing care retirement community in Raleigh. The project will combine upscale senior living, public-facing retail stores and healthcare on one campus. Upon completion, the community will feature 246 independent living units, ranging from studio size to three bedrooms; 82 assisted living apartments; and a new, 106-bed, state-of-the-art skilled nursing center. The campus spans 20 acres. The Oaks at Whitaker Glen is accepting preconstruction reservations now. A construction timeline was not …

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AcquisitionsMichiganNews

Walker & Dunlop Brokers Sale of Three-Property Portfolio in Michigan

by Jeff Shaw

OAKLAND COUNTY, Mich. — Walker and Dunlop Investment Sales (WDIS) has arranged the sale of Blossom Village, Blossom Ridge and Blossom Springs, a senior living portfolio located in Oakland County, approximately 35 miles northwest of Detroit.  This portfolio encompasses a total of 245 luxury villas, independent living, assisted living and memory care units. The Moceri family sold the assets to StoryPoint Group for an undisclosed price. Built in 2019 by the Moceri family, the portfolio is now known as the Flourish Collection by StoryPoint Group and will be added to …

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AcquisitionsAssisted LivingNewsWashington

Zett Group Arranges Sale of 60-Unit Community in Central Washington State

by Jeff Shaw

WASHINGTON — The Zett Group, led by Blake Bozett, has arranged the sale of a 60-unit assisted living and memory care community in Central Washington.  The seller was an owner-operator that ran the community for 33 years. A Seattle-based owner-operator acquired the property for an undisclosed price in an all-cash deal. Randi Nathanson and Parisa Zarelli of Lane Powell PC helped navigate the complexities of the transaction.

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NewsOperationsPeople

Buckner Retirement Services Hires Alyssa Adam as Senior Director of Sales 

by Jeff Shaw

DALLAS — Buckner Retirement Services, a Dallas-based nonprofit operator, has named Alyssa Adam as senior director of sales.  In her new role, Adam is leading community sales teams, implementing sales processes and initiatives, and driving revenue growth for the organization.  Adam comes to Buckner with 14 years of experience in senior living marketing and sales. In her most recent role, she served as the chief marketing officer at The Legacy Senior Communities where she led marketing and sales efforts, in-house advertising communications, website redevelopment and more. She has also held …

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