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Jeff Shaw

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JLL Investor Survey: The Worst of the Pandemic Is Behind Us

by Jeff Shaw

CHICAGO — Backed by strong long-term demand and increased investor interest, the seniors housing sector is now fully in recovery mode, according to JLL’s Valuation Advisory group’s fifth annual Seniors Housing Investor Survey and Outlook. The survey also revealed that investors are bullish on the seniors housing and care sector as a result of the projected “silver tsunami” of retired baby boomers and expected subsequent supply shortage. The survey had more than 100 respondents, all transactional professionals who specialize in the seniors housing and care space. The Chicago-based firm released …

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AcquisitionsArkansasGeorgiaIndependent LivingNew JerseyNewsOhioOklahomaSouth Carolina

Discovery Senior Living, NHI Acquire Nine-Community Independent Living Portfolio

by Jeff Shaw

BONITA SPRINGS, Fla. — Discovery Senior Living and National Health Investors (NYSE: NHI) have formed a joint venture to acquire and rebrand nine former Holiday Retirement communities. The properties are located in Arkansas, Georgia, Ohio, Oklahoma, New Jersey and South Carolina and total 1,094 units. Discovery Senior Living and its subsidiary management companies have taken over operations. Additionally, Discovery will assume operations of Isles of Vero Beach, a 230-unit assisted living community in Vero Beach, Florida, through Discovery and NHI’s existing joint venture. That property will be renamed Discovery Village …

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AcquisitionsNewsOregon

SLIB Negotiates Sale of Four Communities in Oregon

by Jeff Shaw

BROOKINGS, GOLD BEACH and SHERIDAN, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of four properties in Oregon: two properties in Brookings, one in Gold Beach and another in Sheridan. The combined communities consist of 169 units and 190 beds. Brookings is a city in Curry County, located on the coast. Gold Beach is located 30 miles north of Brookings on the coast. Sheridan is located approximately 50 miles southwest of Portland. These facilities combined total approximately 109,507 square feet and are situated on approximately 25.6 acres …

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Assisted LivingConnecticutFinanceNews

Lument Provides $18.9M HUD Refinancing for The Guilford House in Connecticut

by Jeff Shaw

GUILFORD, Conn. — Lument has provided an $18.9 million HUD refinancing for The Guilford House, a 96-bed assisted living and skilled nursing facility in Guilford, a coastal town 15 miles east of New Haven. The closing refinances a blended-rate loan from 2019 provided by Lument to fund an expansion of assisted living units and services. Aaron Becker, head of seniors housing and healthcare production for Lument, led the transaction. “This refinance marks the culmination of a successfully implemented plan that expanded the community’s scope of services and positions it for …

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DevelopmentKansasNews

Midwest Health Reopens Homestead Estates of Leawood in Kansas Following Renovation Project

by Jeff Shaw

LEAWOOD, Kan. — Midwest Health has reopened Homestead Estates of Leawood, an assisted living community in the Kansas City suburb of Leawood. The community closed in early 2020 for a full renovation. “Today’s seniors want to live in a beautiful setting while receiving the care they need,” says Ashley Dawson, executive director of Homestead Estates. “That’s why we took extra special care in redesigning this community. Everything from the premium light fixtures to the granite countertops is top-notch.” Midwest Health manages the community, as well as several other senior living …

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FinanceNews

Bellwether Arranges More than $151M in Seniors Housing Loans Nationwide

by Jeff Shaw

CLEVELAND — Bellwether Enterprise Real Estate Capital LLC (BWE), a commercial and multifamily mortgage banking company based in Cleveland, has arranged five loans totaling $151 million to finance nine assisted living and memory care communities across the United States. Ryan Stoll, national director of seniors housing and care, leads BWE’s efforts to secure financing for seniors housing and care communities. The transactions include: A $64.8 million Fannie Mae loan to finance four assisted living and memory care communities across the Northeast for Bridge Investment Group. Bridge Senior Living operates the …

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AcquisitionsAssisted LivingNevadaNews

Inspired Healthcare Capital Acquires Summit Estates Senior Living in Reno, Nevada

by Jeff Shaw

RENO, Nev. — Inspired Healthcare Capital (IHC) has acquired Summit Estates Senior Living, a 124-unit assisted living and memory care community in Reno. The price and seller were not disclosed. IHC is a Scottsdale, Arizona-based private real estate investment firm that focuses on the seniors housing sector. This was IHC’s first acquisition in 2022, after closing on nine senior housing transactions in 2021.

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AcquisitionsAssisted LivingNewsOperationsTennessee

Charter Senior Living to Operate Village at Primacy Place in Memphis

by Jeff Shaw

MEMPHIS, Tenn. — Charter Senior Living has taken over management duties at The Village at Primacy Place in Memphis. Formerly known as Rose Terrace Assisted Living, the community offers assisted living services. The Village at Primacy Place increases the family of Charter Senior Living retirement communities to more than 40 throughout the U.S.

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Company NewsNewsPeople

Diversified Healthcare Trust Elects David Pierce to Board of Trustees

by Jeff Shaw

NEWTON, Mass. — Diversified Healthcare Trust (NASDAQ: DHC) has elected David Pierce to its board of trustees as an independent trustee. With the addition of Pierce, DHC’s board now includes seven trustees. Pierce has served as executive vice president and president of Boston Scientific’s MedSurg since 2018, and president of Boston Scientific’s Endoscopy since 2020. He joined Boston Scientific in 1991 as a territory manager before assuming management-level positions with increasing responsibility. Pierce has served as a director of the Medical Device Manufacturers Association since 2014. He has served as …

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DevelopmentFinanceMichiganNews

Grandbridge Arranges $30 Recapitalization for Vista Grande Villa in Jackson, Michigan

by Jeff Shaw

JACKSON, Mich. — Grandbridge Real Estate Capital’s Tampa-based seniors housing investment sales team has arranged the recapitalization of Vista Grande Villa, a 318-unit campus in Jackson, approximately 35 miles west of Ann Arbor. Vista Grande Villa is an approximately 20-acre campus comprising 32 cottage homes, 181 independent living apartments, 46 assisted living units, 23 memory care units and 36 skilled nursing units. The recapitalization plan consisted of restructuring approximately $22 million of prior debt, together with new committed funding of roughly $8 million to put toward capital investment and stabilizing the …

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