Author

Jeff Shaw

AcquisitionsNewsTexas

JLL Brokers Sale of 75-Unit Quail Park of Granbury in Texas

by Jeff Shaw

GRANBURY, Texas — JLL Capital Markets has arranged the sale of Quail Park of Granbury, a 75-unit independent living, assisted living and memory care community in Granbury, a growing suburb of Dallas-Fort Worth. JLL represented the seller, Living Care Lifestyles, in the sale to Lloyd Jones LLC. Lloyd Jones Senior Living will operate the community going forward, under the name AVIVA Granbury. The sales price was not disclosed. The community comprises two buildings, one offering independent living (41 units) and assisted living (15 units) and one dedicated to memory care …

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Company NewsFinanceNews

Eagle Senior Living Completes Financial Restructuring, Emerges from Bankruptcy

by Jeff Shaw

WILMINGTON, Del. — American Eagle Delaware Holding Co. LLC and its subsidiaries, collectively known as Eagle Senior Living, have completed a comprehensive financial reorganization and exited the Chapter 11 bankruptcy process. The company has implemented its plan of reorganization, approved by the U.S. Bankruptcy Court for the District of Delaware. Eagle Senior Living has significantly reduced its debt service and enhanced its liquidity position, creating a stronger financial foundation, according to the Wilmington-based company. As part of the Chapter 11 process, Eagle Senior Living executed a transaction whereby Atlantis Senior …

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Assisted LivingFinanceFloridaNews

VIUM Provides $7.7M Refinancing for 50-Bed Community in Florida

by Jeff Shaw

FLORIDA — VIUM Capital has provided $7.7 million in bridge-to-HUD financing for 428 Healthcare. The funds refinance existing debt on a 50-bed assisted living community in Florida. The borrower acquired the property in 2019 and was looking for a cash-out refinancing. Further details were not disclosed.

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AcquisitionsCaliforniaNewsOperations

REMM Group Takes Over Management of Valley View Villas in Garden Grove, California

by Jeff Shaw

GARDEN GROVE, Calif. — The REMM Group Multifamily Management Co. has taken over operations at Valley View Villas Senior Apartment Homes in the Orange County city of Garden Grove. The luxury seniors housing community features 178 units and joins three other properties that The REMM Group manages. “We have an exciting renovation of the beautiful property underway,” says Sara D’Elia, CEO of The REMM Group. “The common areas are being enhanced with a new flooring, a fresh paint palette, furniture and lighting. A full exterior painting is underway and in …

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FinanceNewsPeople

Greystone Monticello Appoints Karina Davydov to Senior Vice President Position

by Jeff Shaw

NEW YORK CITY — Greystone Monticello LLC has hired Karina Davydov as senior vice president, asset-based lending, healthcare originations. Formed in 2021, the Greystone Monticello joint venture provides a wide range of bridge financing options and asset-based lending in the multifamily and seniors housing industries. Davydov brings over 20 years of healthcare lending and banking experience to the company, including asset-based lending with a focus on the healthcare industry. She most recently worked at SLR Healthcare ABL. Davydov will be based out of Chicago, working with Kim Gordon, head of …

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DevelopmentFrom The MagazineInvestment

Value-Add Strategies Fit the Times

by Jeff Shaw

As land and construction costs soar, developers find success with repositioning projects despite the risks. By Jeff Shaw Ground-up seniors housing construction is arguably more difficult now than it has ever been, forcing developers to come up with an alternative game plan to stay active. The producer price index for new building construction — a measure of the price that contractors say they would bid to build a fixed set of buildings — increased 19.8 percent year over year in June, according to the Associated General Contractors of America (AGC). …

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DevelopmentFrom The Magazine

Developers Prefer High Barriers to Entry

by Jeff Shaw

When the going gets tough, top developers are drawn to sites where the competition is limited. By Bendix Anderson Developers are building fewer new seniors housing units today than they have in years. Rising interest rates and the high cost of land, labor and construction materials have made development more expensive than ever.  A potential new seniors housing community would need income from strong, steady rents to justify these high costs. But after years of overbuilding before the coronavirus and the shock of the pandemic itself, seniors housing vacancies remain …

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From The MagazineTechnology

Transformative Tech Products Emerge

by Jeff Shaw

Advancements in artificial intelligence, mobile apps and even robots are becoming the new normal for improving seniors’ health. By Eric Taub A plaintive call from an elderly family member several years ago illustrated society’s digital divide. “The TV commercial said I should go on a website for more information,” she complained. “But I don’t know how to get on the internet.” That generation of individuals alienated by technology is now dwindling in number, gradually being replaced by aging baby boomers who, while not growing up with computers and smartphones, are …

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Industry VoicesOperations

How to Design a Robust Dining Program

by Jeff Shaw

Active adult communities can increase wellness and foster community with a holistic approach to food. By Jami Mohlenkamp The 96 million Americans over age 55 are fundamentally changing the expectations for active adult communities. Baby boomers are demanding something more — something different — than what was available for their own parents.  One of the most impactful ways operators can adjust to meet the needs of this massive generation of people looking to get more out of their coming years is to reevaluate their food program. Active adult communities intentionally …

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Industry Voices

Seniors Housing Needs Long-Term Tax Care

by Jeff Shaw

Follow these steps to stop excessive property tax assessments. By J. Kieran Jennings In a nation that has faced a host of new challenges since the pandemic began, the seniors housing sector has carried one of the heaviest burdens. COVID-19-related mortality risk for those 85 years old or older is 330 times higher than for those 18 to 29 years old, according to the Centers for Disease Control and Prevention (CDC).  Notwithstanding those odds, 51 percent of all seniors housing properties including independent care, assisted living and skilled nursing reported …

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