BURLESON, Texas, and OVERLAND PARK, Kan. — CareTrust REIT Inc. (NYSE: CTRE) has acquired two skilled nursing facilities: AdventHealth Care Center Burleson, a 178-bed facility in Burleson, and AdventHealth Care Center Overland Park, a 102-bed facility in Overland Park, Kansas. The Overland Park facility represents CareTrust’s entry into the Kansas market. Blueprint Healthcare Real Estate Advisors represented the seller, AdventHealth, in the transaction. The acquisition of the Burleson facility will be an add-on to CareTrust’s existing lease with Austin, Texas-based operator Momentum Skilled Services, which will replace the outgoing operator. …
TEXAS — VIUM Capital has arranged a $10.8 million bridge-to-HUD loan to recapitalize two skilled nursing facilities. The properties, both located in Texas, total 136 beds. Further details were not disclosed.
LAKE OSWEGO, Ore. — Anthem Memory Care, a Lake Oswego-based operator, has named Whitney Lane as vice president of clinical services. In this position, she is responsible for providing leadership and vision for Anthem Memory Care’s 21 communities. Lane previously was chief operating officer for Watercrest Senior Living. She has also served as divisional director of health and wellness for Senior Lifestyle Corp. Throughout her 18-year career in healthcare, Lane has experience within operations, sales, financials, new development, acquisitions, human resources and training in independent living, assisted living and memory …
ANNAPOLIS, Md. — The private-pay seniors housing occupancy rate increased 30 basis points from 82.9 percent in the fourth quarter of 2022 to 83.2 percent in the first quarter of 2023, according to data from NIC MAP Vision released by the National Investment Center for Seniors Housing & Care (NIC). NIC MAP Vision is a product of the National Investment Center for Seniors Housing & Care (NIC), an Annapolis-based nonprofit firm that tracks industry data gathered from 31 primary metropolitan markets. Private-pay seniors housing comprises independent living, assisted living and …
CRESTVIEW, Fla. — Housing Trust Group (HTG) and AM Affordable Housing, a non-profit founded by NBA Hall of Famer and Miami Heat legend Alonzo Mourning, have started construction of Princeton Grove, a $23.5 million affordable seniors housing community in the Florida Panhandle city of Crestview. Apartments at Princeton Grove will be reserved for income-qualifying residents who earn at or below 22, 30 and 60 percent of area median income (AMI), with rents ranging from $363 to $1,188 per month. In addition, the developer has committed a minimum of five apartments …
TEXAS — VIUM Capital has provided $27 million in bridge-to-HUD financing for two skilled nursing facilities totaling 240 beds in Texas. The terms include a purchase option for the first facility, and refinances $6.8 million in debt on the second. The names, locations and borrower were not disclosed. The financing is full recourse, lowering to 50 percent recourse upon submission of the HUD application.
SANDY SPRINGS, Ga. — PruittHealth has acquired Dogwood Forest of Dunwoody, an assisted living community in the Atlanta suburb of Sandy Springs. Under the new ownership, the property is now called PruittPlace – Sandy Springs. Details regarding the seller, price and number of units were not disclosed.
WALTHAM, Mass. — Laurence (Larry) Gerber, the founder and CEO of Waltham-based EPOCH Senior Living, has died. He passed peacefully on March 25, surrounded by his family after a brief illness. EPOCH Senior Living was founded in 1997. Under Gerber’s guidance, the company experienced significant growth, currently operating 11 Bridges by EPOCH memory care assisted living communities and five Waterstone Senior Living communities throughout the Northeast. Gerber was actively involved at the Massachusetts Assisted Living Association (Mass-ALA) as the board chairman and had served on the board of directors for …
DOYLESTOWN, Pa. — Presbyterian Senior Living (PSL) has entered into a non-binding letter of intent to acquire Pine Run Retirement Community, a 532-unit continuing care retirement community (CCRC) in Doylestown, approximately 25 miles north of Philadelphia. If the deal closes, PSL will assume ownership of Pine Run, including Pine Run Lakeview Personal Care, from Doylestown Hospital. PSL intends to continue operating Pine Run as a CCRC. Pine Run features 272 independent living cottages and 24 apartments on a 43-acre private campus. The campus is home to Pine Run Health Center, …
COLUMBUS, Ohio — Seniors housing and healthcare lender VIUM Capital and its joint-venture partner Merchants Bancorp, along with ATLAS SP Partners as structuring agent and sole bookrunner, have completed a securitization referencing over $1.1 billion of first-lien, floating-rate skilled nursing and seniors housing bridge loans. In this transaction Merchants Bank issued and sold $158 million aggregate principal balance of senior credit linked notes representing approximately 14 percent of the reference pool. Merchants Bank’s wholly owned subsidiary, Merchants Capital Corp., will continue to service the loans. Through this transaction it is …