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Jeff Shaw

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CEO Panel: Tough Economic Times Call for Return to Basics

by Jeff Shaw

PHILADELPHIA — As the dust settles from the COVID-19 pandemic, and complications such as inflation and higher interest rates continue to hurt the economy, now is the time for seniors housing owners and operators to focus on their fundamentals. “We have to get back to business. That’s really our focus in 2023,” said Wendy Nowokunski, president of owner-operator Northbridge Cos. “Not that we ever lost sight of it, nor will we lose sight of the fact that our associates are our most important investment, but we really need to make …

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AcquisitionsAssisted LivingNebraskaNews

Blueprint Brokers Sale of 110-Unit Community in Omaha

by Jeff Shaw

OMAHA, Neb. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a Class A, 110-unit assisted living and memory care community in Omaha. A Midwest-based developer that works in multiple asset classes sold the asset to Cedarhurst Senior Living for an undisclosed price. Blueprint Capital Markets assisted in arranging acquisition financing through a regional bank. The community was over 95 percent occupied at the time of sale.

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Company NewsInvestmentNews

Rockwood Capital, Doyenne Healthcare Capital Launch $100M Seniors Housing Joint Venture

by Jeff Shaw

NEW YORK CITY and CHICAGO — Rockwood Capital and Doyenne Healthcare Capital (DHC) have formed a joint venture to invest up to $100 million of equity in seniors housing communities across the country. Financial terms of the venture were not disclosed. “We view seniors housing as a complementary strategy for our existing ‘live-space’ investment program,” says David Becker, co-managing partner of Rockwood. “We believe that significant demographic tailwinds continue to support the sector. We also believe that the operational disruption caused by the pandemic coupled with the current capital markets …

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NewsOperationsPeople

Chapters Living Hires Becky Kaufmann, Tyler Brady

by Jeff Shaw

ST. LOUIS — Chapters Living, a St. Louis-based assisted living operator, has hired Becky Kaufmann and Tyler Brady to its team. Kaufmann joins Chapters as the senior vice president of quality of life and memory support. With over 16 years of experience as a healthcare executive with an emphasis on senior living, Kaufmann will develop both the memory care programming and total quality management platforms. With over 13 years of financial analysis and strategy experience, Brady joins the company as senior vice president of strategic finance. He will lead the …

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AcquisitionsNewsTexas

CBRE Brokers Sale of The Village at River Oaks in Houston

by Jeff Shaw

HOUSTON — CBRE has negotiated the sale of The Village at River Oaks, a Class A independent living, assisted living and memory care community in the River Oaks neighborhood of Houston. Harrison Street and Bridgewood Property Co. sold the asset to a fund affiliated with Blue Moon Capital Partners. The price and number of units were not disclosed. CBRE’s National Senior Housing team members John Sweeny, Aron Will, Garrett Sacco and Scott Bray represented the seller in the deal. CBRE National Senior Housing’s debt and structured finance team of Aron …

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CCRCDevelopmentFinanceNewsPennsylvania

Ziegler Arranges $19M Financing for Living Branches Expansion in Pennsylvania

by Jeff Shaw

HATFIELD, SOUDERTON and LANSDALE, Pennsylvania — Ziegler has arranged $19 million in bond financing for Living Branches, a nonprofit seniors housing and affordable housing operator. Living Branches was founded in 2008 upon the merger of Dock Woods, a life plan community founded in 1981 in Lansdale, and Souderton Mennonite Homes, a life plan community in Souderton originally founded in 1917. The corporation also operates The Willows of Living Branches, a personal care community in Hatfield founded in 1942, and two HUD housing organizations located on the Dock Woods campus. The …

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AcquisitionsAssisted LivingNewsOperationsTexas

Ridgeline Takes Over Operations of Parsons House of Frisco in Texas

by Jeff Shaw

FRISCO, Texas — Ridgeline Management Co. has taken over operations of Parsons House of Frisco, renaming the property The Ridge at Frisco. The Ridge at Frisco is a three-story assisted living community that has served the Frisco area since 2001. The Ridge at Frisco is the fourth community added to the Ridgeline’s portfolio in recent months. It joins The Peaks at Millcreek in Salt Lake City; The Ridge at Oregon City in Oregon City, Oregon; and Ridge at The Stratford in Phoenix. These communities are a part of an aggressive …

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Company NewsNewsPeople

Welltower Promotes Six to Senior Leadership Positions

by Jeff Shaw

TOLEDO, Ohio — Welltower (NYSE: WELL), the largest owner of seniors housing in the United States, has promoted Nikhil Chaudhri to executive vice president and chief investment officer and Ayesha Menon to executive vice president of wellness housing and development. Chaudhri previously served as co-head of U.S. investments. Since joining Welltower eight years ago as an associate, he has led many of the company’s most complex transactions. He holds an MBA from Columbia Business School and a BSE in computer science engineering from the University of Michigan. Menon drove the …

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FeaturesNewsOperationsPeopleTechnology

KARE CEO: ‘Culture’ Doesn’t Mean What Operators Think

by Jeff Shaw

PHILADELPHIA — It is common to hear operators proudly profess that it’s their culture that allows them to be top employers in the seniors housing industry, helping to face the massive labor shortage within the sector. However, “culture” can be a nebulous word, and employee surveys show that what employees say makes for a good culture is far different from what the employers believe, according to Charles Turner, CEO of shift-filling software platform KARE. Turner, a former president of two operators in previous positions, didn’t pull punches regarding the overuse …

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Company NewsNewsPeople

Brookdale Shakes Up C-Suite, Previews 2022 Financial Totals

by Jeff Shaw

NASHVILLE, Tenn. — Brookdale Senior Living Inc. (NYSE: BKD), a Nasville-based company that is the largest operator of seniors housing in the country, has made a variety of changes to its corporate structure. Steven Swain, who serves as Brookdale’s chief financial officer, will leave the company on Feb. 24. Dawn Kussow, currently chief accounting officer, will replace Swain while continuing to serve in her current role. Meanwhile, Rick Wigginton was promoted to chief sales officer. Kevin Bowman, executive vice president of community operations, left the company on Jan. 12. Laura …

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