Author

Jeff Shaw

Assisted LivingDevelopmentNew YorkNews

Benchmark Plans 100-Unit Community in Mount Pleasant, New York

by Jeff Shaw

MOUNT PLEASANT, N.Y. — Benchmark Senior Living has unveiled plans for Benchmark at Mount Pleasant, a seniors housing community in the Westchester County town of Mount Pleasant, approximately 25 miles north of Manhattan. The community, slated for completion in spring 2024, will be Benchmark’s third in metro New York City, joining two existing communities opened on Long Island. It will feature 74 assisted living units and 26 memory care units. Benchmark is partnering with Shelbourne Healthcare Development Group LLC, a development and investment firm in Wayne, Penn. Benchmark will serve …

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Affordable HousingDevelopmentFinanceIllinoisNews

Associated Bank Provides $6M Construction Loan for Diamond Senior Apartments in Peru, Illinois

by Jeff Shaw

PERU, Ill. — Associated Bank has provided $6 million in financing for construction of the Diamond Senior Apartments, a seniors housing community in Peru, located along the Illinois River approximately midway between Chicago and the Iowa border. The borrower is 3 Diamond Development. The project includes 56 units in 10 single-story residential buildings. All units are restricted to low-income seniors age 55 and older. Twelve of the units will be restricted to households earning less than 30 percent of the area median income (AMI), and the remaining 44 units will …

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AcquisitionsNewsPeople

Lloyd Jones Hires David Grady to Lead Aviva Senior Living

by Jeff Shaw

MIAMI — Lloyd Jones, a real estate investment firm headquartered in Miami, has hired David Grady as president of its Aviva Senior Living subsidiary. The firm is expanding its senior housing platform throughout the country, with the acquisition of five communities since January and an additional four closings scheduled within the next two months. Grady will oversee the integration of the new acquisitions into the Aviva brand. With a master’s degree in healthcare administration as well as a Ph.D., Grady has spent his career in executive positions with major senior …

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Company NewsNews

Blueprint Launches Behavioral Healthcare Advisory Group

by Jeff Shaw

CHICAGO — Blueprint Healthcare Real Estate Advisors, a Chicago-based brokerage firm focused on seniors housing and other healthcare real estate, has launched a behavioral health advisory group. Industry veteran Andrew Sfreddo will serve as head of behavioral healthcare, and fellow behavioral healthcare real estate veteran Shane Harmon will serve as senior director. In 2020, behavioral healthcare accounted for $90.5 billion of U.S. market value and is on track to reach $132.4 billion by 2027, a 5.3 percent compound annual growth rate, according to Blueprint. Blueprint attributes the rapid growth to …

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AcquisitionsArizonaNews

CBRE Negotiates Sale of 170-Unit Andara Senior Living in Scottsdale, Arizona

by Jeff Shaw

SCOTTSDALE, Ariz. — CBRE National Senior Housing has arranged the sale of and acquisition financing for Andara Senior Living, a 170-unit luxury seniors housing community in Scottsdale. Built in 2010, the community is located in an affluent pocket of Scottsdale and nestled in the foothills of the McDowell Mountains. The campus features two three-story residential wings interconnected by a covered walkway. The community offers independent living and assisted living services. Reliant Group sold the property to a joint venture between Colonial Oaks Senior Living and Fortress Investment Group. Although the …

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AcquisitionsActive AdultNew YorkNews

Invesque Sells Calamar Seniors Housing Properties as Part of Portfolio Simplification

by Jeff Shaw

WHEATFIELD, N.Y. — Invesque Inc. (TSX: IVQ) has sold $113 million of non-core assets, including its interests in two Calamar-branded active adult communities in Wheatfield, a northern suburb of Buffalo. Inclusive of previously announced dispositions, Invesque has sold $292 million of assets over the last 12 months as part of its portfolio simplification strategy. The Calamar communities were acquired in 2018 as part of the acquisition of Care Investment Trust and were managed by Calamar under a joint-venture structure. “We have been very active over the past year executing on …

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AcquisitionsNewsSkilled NursingTexas

Ensign Group Acquires 138-Bed Park Manor of McKinney in Texas

by Jeff Shaw

MCKINNEY, Texas — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the real estate and operations of Park Manor of McKinney, a 138-bed skilled nursing facility in McKinney. Standard Bearer Healthcare REIT Inc., Ensign’s captive real estate company, will own the real estate. This acquisition brings Ensign’s portfolio to 259 healthcare operations, 26 of which also include senior living operations, across 13 states. Ensign subsidiaries, including Standard Bearer, now own 106 real estate assets.

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From The MagazineLegal Issues

A Time of Change

by Jeff Shaw

The pandemic and a new White House administration lead to a changed legal and regulatory landscape, and the jury is still out on the near-term and long-term impacts. By Jeff Shaw The seniors housing industry has undergone an unprecedented amount of transformation in the last few years, and the government priorities and legal issues surrounding the sector have changed along with it. On the regulatory side, a change of White House administration in the heart of a deadly pandemic meant the baton had to be smoothly passed on a wide …

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From The Magazine

Home Health, Home Care at New Juncture

by Jeff Shaw

Nonprofit, for-profit operators decide how deeply to engage with ancillary businesses to deliver services to seniors — if they engage at all. By Bendix Anderson Many seniors housing properties still struggle to find residents to fill vacant units. At the same time, millions of seniors are living in single-family homes and becoming more isolated and increasingly frail.  So, the last thing some seniors housing experts want to hear is that home care and home health agencies are growing — helping more seniors age in place, instead of moving into seniors …

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Active AdultFinanceFrom The Magazine

More Empirical Data on Active Adult Sector is Needed to Woo Lenders, Says InterFace Panel

by Jeff Shaw

By Matt Valley The pandemic raised the profile of the active adult sector, which anecdotally experienced healthy rent growth and stable occupancy during the health crisis due to “sticky tenants” who tend to stay anywhere from three to seven years. What’s more, the sector hasn’t had to contend with the workforce challenges facing the more operationally intensive skilled nursing and private-pay seniors housing segments. Despite that positive storyline, arranging financing for active adult properties remains a tall order, said Ari Adlerstein, senior managing director at Meridian Capital Group and head …

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