SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NASDAQ: CTRE), a San Clemente-based seniors housing REIT, has elected Careina Williams and Anne Olson to the company’s board of directors. The company also re-elected Gregory Stapley, executive chairman; Diana Laing, lead independent director; and Spencer Plumb, director. Williams will fill the remaining term of Allen Barbieri, who retired as a member of the board in March. Olson succeeds Jon Kline, who served on the board for nearly eight years. Olson currently serves as chief operating officer and secretary of Centerspace (NYSE: CSR), …
LENEXA, Kan. — Cushman & Wakefield has arranged $24.6 million in financing for the acquisition of Silvercrest at College View, a 136-unit independent living, assisted living and memory care community in the Kansas City suburb of Lenexa. Trustmark Bank provided the capital to a private capital group. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Sam Dylag, Bailey Nygard and Jack Griffin represented the borrower. “Silvercrest at College View is an excellent community with upper-echelon performance in an affluent submarket,” says Wagner. “We’re pleased to have assisted in the financing of …
CHICAGO — Jeffrey Davis, the founder and CEO of Chicago-based seniors housing capital markets firm Cambridge Realty Capital, has passed away. He was 69 years old. While the company said the death was sudden, details were not disclosed. Davis’ passion for business began early in his life, and he channeled it into his studies at the University of Illinois, where he graduated with a degree in finance. He went on to pursue a graduate degree in real estate investment analysis and appraisal from the University of Wisconsin in 1976. Upon …
BOCA RATON and LANTANA, Fla. — Ziegler acted as exclusive financial advisor in raising financing of $20.5 million on behalf of Comprehensive Care Capital (CCC) to acquire two seniors housing communities in Boca Raton and Lantana. The communities, Banyan Place – Boca and Banyan Place – Lantana, offer independent living, assisted living and memory care services. Banyan Place – Boca features 130 independent living, assisted living and memory care beds. Banyan Place – Lantana features of 39 licensed memory care beds. CCC’s operating affiliate, Forte Healthcare, led by Yosef Nathan, …
PENNSAUKEN, N.J. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Ivystone Senior Living in Pennsauken, just across the Delaware River from Philadelphia. The community features 100 independent living units, 43 assisted living units and 21 memory care units. The original physical plant was constructed in 1965, with additions to the property over the years. Priority Life Care, a court-ordered receiver as the property was in bankruptcy, sold the asset to UNPPG Management LLC, a privately held owner-operator based in New York. The price was not disclosed.
DALLAS — Sonida Senior Living Inc. (NYSE: SNDA), an operator based in Dallas, has hired Howard Garfield and Debbie Milligan as chief accounting officer and director of financial reporting. Most recently, Garfield was senior vice president, finance, treasurer and chief accounting officer for CorePoint Lodging Inc., a publicly traded real estate investment trust (REIT) with a geographically diverse portfolio. Prior to that, he served as the chief financial officer and chief accounting officer for Monogram Residential Trust for nearly a decade. Milligan also hails from CorePoint Lodging Inc. where she …
By Chip Stuart, Chief Sales Officer, Hub International The new wave of challenges facing the global economy in 2022 such as inflation, continued supply chain delays, and labor shortages has caused property values to rise, along with the cost of construction. In commercial real estate, the impact of these disruptions is mostly felt in new construction, leaving owners of existing assets likely to benefit from shifting demand. Coupled with rising occupancy, seniors housing property owners could see historically high revenue growth in 2022. On the other side of the coin, …
BRENTWOOD, Tenn. — Meridian Realty Advisors LP and Integral Senior Living have opened Cloverland Park Senior Living, a 100-unit seniors housing community in the Nashville suburb of Brentwood. Partners on the project include Pi Architects, SCI Construction, Thomas & Hutton, TDI Engineering and MEP Associates Design Group Inc. Located on 6.6 acres, Cloverland features 72 assisted living and 28 memory care units. “As part of this project, we donated seven acres of land to the city of Nashville for a planned park and walking trail site and look forward to …
VININGS, Ga. — Charter Senior Living has taken over operations at The Social at Vinings, a seniors housing community in the first-ring Atlanta suburb of Vinings. The new operator has changed the name of the community to Charter Senior Living of Vinings. The change in management will increase the portfolio of Charter Senior Living retirement communities to more than 40 throughout the United States.
COLLINGSWOOD, N.J. — Kitchen & Associates (K&A), a multidisciplinary design firm, has appointed Matthew Bartner as managing principal. Bartner, who previously served as principal and director of operations, succeeds Stephen Schoch, who will remain a principal of the firm. As managing principal, Bartner is responsible for maintaining the firm’s position as a leader of integrated design services across key markets and verticals. Bartner and the executive leadership team will be particularly focused on growth in the affordable and student housing sectors. Based in Collingswood, K&A designs properties for the affordable, …