SEBASTIAN, Fla. — Watercrest Senior Living Group has promoted James Brassard to executive director of Pelican Landing Assisted Living and Memory Care in Sebastian. The former executive director, Michelle Miller, was recently promoted to regional director of clinical operations. Brassard joined the Watercrest family in 2019 as director of sales at Palm Bay Memory Care, and was later promoted to executive director there. Brassard has extensive expertise in senior living start-ups and turn-around communities. A recipient of the FALA Sales and Marketing Director of the Year award, he has multi-site …
GREENVILLE, S.C. — Life Care Services and LCS Development have completed an expansion project at Rolling Green Village, a continuing care retirement community in Greenville. The project added 60 apartments, 23 single-family houses and duplexes, and a new commons building with a variety of amenities. Sitting on 175 acres, Rolling Green Village claims to the be the largest nonprofit employer in the state. “The genesis for this expansion started in a resident committee and was picked up and made actionable through the combined effort of the board, Life Care Services …
ASHLAND CITY, Tenn., and KENNESAW, Ga. — Veritas Senior Living, an operator based in Tennessee, has added Vantage Pointe Village in Ashland City and Gaines Park Senior Living in Kennesaw into its portfolio. The new communities will bring Veritas’s total number of communities to six. The operator has added three communities in 2021 so far. “We’re experiencing tremendous and fast-paced growth despite our careful navigation of COVID,” says Matthew Fox, Veritas founder and CEO.
FLORIDA — Monticello has provided $58.1 million in first lien debt financing for the refinance of five skilled nursing facilities consisting of 607 beds in Florida. The borrower is an experienced owner and operator with a current portfolio of over 35 buildings across Florida and has an established relationship with Monticello. Prior to this deal, Monticello financed the acquisition of a number of facilities during 2018 for the sponsor. Further details on the portfolio were not disclosed.
TENNESSEE — Senior Living Investment Brokerage has arranged the sale of two identical assisted living and memory care communities totaling 174 units in Tennessee. The buildings were constructed in 2000 and have vacant land available for future expansion. The locations and acquisition price were not disclosed. The seller is an independent owner-operator and the buyer is a partnership between a REIT and an operator targeting growth throughout Tennessee. Patrick Burke and Dave Balow of SLIB handled the transaction.
EAST AMHERST, N.Y. — Sunshine Retirement Living has hired Marion “Mimi” Piciullo as the new executive director of Juniper Glen Assisted Living and Memory Care in the Buffalo suburb of East Amherst. Piciullo is responsible for all day-to-day management and operations of the community, including financials, marketing, government and community relations. She will also oversee all health and safety programs, including new heightened procedures and protocols to prevent and mitigate COVID-19 infection, which includes a pioneering technology called Needlepoint Bipolar Ionization that eliminates 99.4 percent of the SARS-COVID-2 virus that …
ATLANTA — The beginning of the COVID-19 pandemic made everyone question the future, and for investors and owners in the seniors housing business sector, things were rocky. The National Investment Center for Seniors Housing and Care reported the occupancy rate in seniors housing facilities decreased 680 basis points in 2020 to record lows. In 2021, there has been a rebound in confidence in the economy as people return to working in an office and many Americans have been fully vaccinated against COVID-19. Additionally, occupancy rates in seniors housing properties have …
BOYNTON BEACH, Fla. — CBRE Senior Housing has arranged construction financing for Anthology Boynton Beach, a Class A, 130-unit senior living community located in the South Florida city of Boynton Beach. Aron Will, Austin Sacco and Tim Root of CBRE Senior Housing arranged the financing on behalf of a joint venture between Anthology Senior Living and Harrison Street. The community will be operated Anthology, CA Ventures’ vertically integrated senior housing platform. Situated on a 5.3-acre site near the heart of Boynton Beach, the community will be a part of a …
KIAWAH ISLAND, S.C. — Kiawah Life Plan Village Inc. (KLPV), a newly formed nonprofit, has purchased a nine-acre site from Kiawah Partners, a subsidiary of South Street Partners, in the coastal resort community of Kiawah Island. Plans for the site include Seafields at Kiawah Island, a $180 million continuing care retirement community. Conceived in response to fill a void in the market, and at the request of Kiawah and Seabrook property owners as a way to age in place, the property will feature an in-house medical clinic operated by the …
LAS VEGAS — Volunteers of America National Services (VOANS) has broken ground on Phase II of Desert Oasis, an affordable seniors housing property in Las Vegas. Phase II will add 43 new units to the existing 75 units in the Desert Oasis community. The building will include a recreational clubhouse facility with a computer room, exercise room, laundry facilities and a community garden. Desert Oasis will be built with energy-efficient systems using green building techniques and including solar panels and photovoltaics. The entire development will be Energy Star rated. Funding …