JACKSON, Mo. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Jackson Manor Nursing Home, a 90-bed skilled nursing and long-term care facility in Jackson, approximately 110 miles south of St. Louis. A public REIT sold the asset to a local owner-operator for an undisclosed price. The facility was originally constructed in 1979 and features all private rooms. With limited local competition, Jackson Manor maintained consistent census and quality mix levels through local and regional referral sources around nearby Cape Girardeau.
MINNEAPOLIS — Health Dimensions Group, a Minneapolis-based senior living, post-acute and long-term care management and consulting firm, has named John Capasso as executive advisor of senior care. Most recently, Capasso served as executive vice president and president of the continuing care division for Trinity Health, a $20 billion, nonprofit, Catholic health system with 120,000 employees across 88 hospitals and 131 continuing care locations in 25 states. Previously he served as senior vice president of continuing care for Catholic Health East, with 34 hospitals and 9,000 employees. In his role at …
NIC MAP Vision launches data initiative to track hottest subsector of seniors housing, bolstering transparency for investors. By Jeff Shaw Active adult is the talk of the town in the seniors housing industry. The sector, which caters to the 55-plus crowd that leads an active lifestyle and embraces fun and fitness, resembles traditional multifamily properties in two important ways: Active adult doesn’t offer the extra layer of services associated with standard seniors housing or the medical aspects of skilled nursing. Investors in active adult properties praise the high occupancy rate …
Affiliations, acquisitions and new service lines are part of a multi-pronged strategy to stay competitive amid a challenging business climate. By Jane Adler Despite economic headwinds and an ongoing labor shortage, nonprofit senior living providers are focused on growth. Affiliations and acquisitions are moving forward as big providers partner with single-site operators to realize economies of scale. Meanwhile, regional providers are targeting nearby opportunities. The goal: an add-on to the portfolio within driving distance. Other growth strategies include expansions of existing properties, development of satellite campuses and the addition of …
Son of an industry legend sets out to build his own legacy and transform seniors housing. By Jeff Shaw If he had stuck with the plan, Adam Kaplan would have taken the reins at one of the 10 largest seniors housing operators in the country. The son of Senior Lifestyle co-founder and chairman Bill Kaplan, Adam worked for his father’s company for nine years in various roles. The initial idea was to hand over the company, which currently operates more than 15,000 units, from father to son. Bill Kaplan was …
To succeed for residents of moderate means, we must balance compassion with the business aspects of seniors housing. By Joe Jasmon In order to create a successful and financially sound solution for the middle market of seniors housing, we have to change the paradigm. This change must come from the heart and begins with a single focus: the resident. We must address the resident’s needs with compassion and provide the care required for them to live their best life. Entering the middle-market space is a valid and well supported business …
By Matt Valley A spike in interest rates coupled with operational challenges in the skilled nursing and seniors housing industries stemming from the COVID-19 pandemic took a toll on lending volume in HUD’s Section 232 mortgage insurance program in fiscal year (FY) 2022. Annual lending volume fell to $2.95 billion from $3.94 billion the prior year, a 25 percent drop. The number of transactions also decreased from 328 to 269, an 18 percent decline. “The biggest surprise in 2022 was not that interest rates went up, but how drastically and …
CORCORAN, Minn. — Specialty investment bank Ziegler has closed on $47 million in financing for Saint Therese of Corcoran LLC, and its sponsor, Saint Therese, for the construction of a new senior living community in Corcoran, about 30 miles northwest of Minneapolis. The financing is comprised of $18.2 million of Series 2022AB and $28.8 million of Series 2023 Senior Living Revenue Notes placed with Bremer Bank. Proceeds of the notes, along with other available funds, will be used to finance the construction of Saint Therese of Corcoran, fund interest on …
SHERMAN, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of Homestead of Sherman, a 132-bed skilled nursing facility in Sherman, approximately 65 miles north of Dallas. The community totals approximately 39,211 square feet on a five-acre plot. A private partnership out of Dallas sold the community to an owner-operator from Fort Worth with 20 existing properties in the state. The price was not disclosed. Matthew Alley and Ryan Saul of SLIB handled the transaction.
NAPLES, Fla. — Live Oak Bank and Renasant Bank have provided an undisclosed amount of financing for construction of a 158-unit assisted living and memory care community in Naples. The borrower is a joint venture between investment management firm Heitman and NexCore Group. Experience Senior Living, NexCore’s operating subsidiary, will manage the property.