CORAL GABLES, Fla. — Sunrise Senior Living has broken ground on its first community in metro Miami, Sunrise of Coral Gables. The 94-unit building is slated to rise six stories and total 90,000 square feet. Opening is scheduled for 2024. Sunrise’s in-house development and design teams are partnering with Coral Gables-based architecture firm Behar Font & Partners and general contractor Winmar Construction. The site for Sunrise of Coral Gables was chosen for its accessibility and convenience. On the main street of Ponce de Leon, the community has access to neighboring …
AURORA and LAKEWOOD, Colo. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of Hampden Hills Post Acute, a 218-bed skilled nursing facility in Aurora, and Mapleton Post Acute, an 84-bed skilled nursing facility in Lakewood. Both properties are located in first-ring suburbs of Denver. Ensign has signed long-term, triple-net leases for both. The owner was not disclosed. These acquisitions bring Ensign’s growing portfolio to 290 healthcare operations, 26 of which also include senior living operations, across 13 states. Ensign subsidiaries, including Standard Bearer, own 108 real estate …
CINCINNATI and CLEVELAND — Senwell Senior Investment Advisors has arranged the sale of two skilled nursing facilities in Ohio’s Cincinnati and Cleveland markets. The seller, a regional operator in the Midwest, opted to divest these properties as they were not aligned with the company’s core long-term care model. The communities were built in 2016 and 2017. The buyer was a Medicare-specialized operator from the West looking to expand its presence in Ohio. Senwell’s Ben Bohland facilitated the transaction.
EAGLE, Idaho — The Pennant Group Inc. (NASDAQ: PNTG), the parent company of the Pennant group of affiliated home health, hospice and senior living companies, has appointed Barry Smith as chairman of its board of directors and Brent Guerisoli as a member of its board of directors. Smith has served on Pennant’s board since 2021. He previously served as chairman and CEO of Magellan Health Inc., the nation’s largest provider of behavioral health services and a leading provider of pharmacy benefit management services, from 2013 to 2019. He was also …
By Mary Johannesen, Principal, Thriven Design COVID-19 has undoubtedly changed the way we live, work, play and function within our communities. Although a sense of normalcy has returned to daily life, the ramifications from the pandemic and subsequent lifestyle changes continue to drive development and design trends in the seniors housing industry. Older adults, now more than ever, are prioritizing amenities and functionality that improve their quality of life and ability to age in place safely and comfortably. From affordable housing to market-rate senior living communities, here are a few …
CARLSBAD, Calif. — Funds advised by Lee Equity Partners LLC and Coastwood Senior Housing Partners LLC, two specialized investment firms, have made an investment in Integral Senior Living Management (ISL). As part of the investment, ISL will partner with Discovery Senior Living and form the fifth largest seniors housing operator in the United States. Lee Equity and Coastwood recently completed the recapitalization of Discovery Senior Living, which is led by CEO Richard Hutchinson. The investment in both companies by Lee Equity and Coastwood will create an opportunity to find synergies …
LAKEWOOD, Colo. — The Bascom Group, in partnership with Artemis Real Estate Partners, has acquired Avenida Lakewood, a 230-unit active adult community in Lakewood, just west of Denver. Avenida Partners built the community in 2019. The price was not disclosed. Ryan Maconachy and Courtney Crowder at Newmark brokered the transaction. Brian Eisendrath, Cameron Chalfant, Jesse Zarouk and Jake Vitta of IPA arranged the debt financing for the acquisition through Santander Bank. Apartment Management Consultants will provide property management services. The property is located near recreation, retail and entertainment options against …
DAVIE, Fla. — BHI, a full-service commercial bank, has provided a $30 million refinancing for The Alomar, a 199-bed seniors housing community in Davie, a northern suburb of Miami. The borrower is Royal Senior Care, which owns and operates senior living facilities in the Southeast with a primary focus in South Florida. The facility, which opened in 2017, is spread over a three-building campus and includes independent living, assisted living and memory care. “Healthcare is a highly strategic vertical within BHI and Royal Senior Care has a robust track record …
ITHACA, N.Y. — To celebrate its first symposium since 2016, Cornell’s Institute for Healthy Futures is convening industry leaders and academics from across health, hospitality and design to collaborate on ways these combined disciplines can improve quality of life. Held on the Cornell campus in Ithaca from May 11 to 13, the event will include lectures and panels led by economists, senior living and hospitality entrepreneurs, and healthcare practitioners and designers. Beth Mace, chief economist at the National Investment Center for Seniors Housing and Care (NIC), and Rohit Verma, founding …
ATLANTA — WelcomeHome Software, a customer relationship management system for the seniors housing industry, has hired Patrick Sharp as an enterprise account executive. Sharp’s 18-year career in the software industry included roles in implementation, account management and sales. He spent 10 years at Horizon Software International, specializing in senior living dining and public education technology. He also served as a project-based consultant helping senior living operators evaluate software platforms.