Author

Jeff Shaw

DevelopmentFinanceIndustry Voices

C-PACE Works — Try It, You’ll Like It.

by Jeff Shaw

By Jason Schwartzberg In 1971, Alka-Seltzer, the two-white-tablet packet that helps relieve heartburn, launched a commercial set in a neighborhood bistro where a waiter persuaded a man to sample a new dish. The actor explains: “Came to this little place. Waiter says, ‘Try this, you’ll like it.’ What’s this? ‘Try it, you’ll like it.’ But what is it? ‘Try it, you’ll like it.’ So, I tried it. Thought I was going to die. Took two Alka-Seltzer.” The actor concludes the spot by declaring: “Alka-Seltzer works. Try it. You’ll like it.” …

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Industry VoicesOperations

Question of the Month: Ancillary Services

by Jeff Shaw

What are the biggest areas of opportunity in ancillary services in seniors housing? Dining presents opportunities By Andrew Agins Partner Evolve Senior Living An interesting opportunity for ancillary revenue is to curate an elevated dining experience for our residents.  We will always offer the traditional menu that is included in the base rent. However, for an additional fee, we can design a special dinner for a smaller subset of residents.  For example, our chef can prepare a progressive tasting menu or a steakhouse night.  If residents opt in, they can …

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FinanceFrom The Magazine

NIC Capital Markets Panel Assesses Level of Distress Looming in Seniors Housing Sector

by Jeff Shaw

By Matt Valley What percentage of existing seniors housing loans are destined for trouble? An audience member posed that question during the closing session of the 2024 NIC Spring Conference in Dallas. The answer appears to be elusive. Titled “Capital Markets and Economic Update: Where We Have Been and Where We Are Going,” the March 7 session featured Joel Mendes, managing director at JLL, as panel moderator. Fellow participants included Jamie Cobb, chief financial officer at Columbia Pacific Advisors LLC; Doug Duncan, chief economist with Fannie Mae; and John Olympitis, …

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Assisted LivingDevelopmentNewsWashington

Aegis Living Opens 136-Unit Aegis Living Laurelhurst in Seattle

by Jeff Shaw

SEATTLE — Aegis Living has opened Aegis Living Laurelhurst in the Laurelhurst neighborhood of Seattle, near the University of Washington (UW). The six-story building features 147,911 square feet of space and 136 assisted living apartments.  Aegis Development LLC is the developer, Ankrom Moisan Architects is the architecture firm and Exxel Pacific is the general contractor. Aegis Living Laurelhurst is Aegis’ 38th community and the second one to open this year.

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CCRCFinanceMissouriNews

Berkadia Arranges $82.5M Refinancing for 283-Unit Clarendale Clayton in Missouri

by Jeff Shaw

CLAYTON, Mo. — Berkadia has arranged a refinancing for Clarendale Clayton, a 283-unit continuum-of-care community in the St. Louis suburb of Clayton. Austin Sacco of Berkadia Seniors Housing & Healthcare arranged financing through a national bank on behalf of the borrower, a joint venture between Harrison Street, Ryan Cos. US Inc. and Life Care Services (LCS). The $82.5 million, floating-rate loan features five years of interest-only payments.

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NewsOperationsPeopleWisconsin

Lifespace Communities Hires Chris Andersen as Executive Director of Newcastle Place in Mequon, Wisconsin

by Jeff Shaw

MEQUON, Wis. — Lifespace Communities has hired Chris Andersen as executive director at Newcastle Place in Mequon, a northern suburb of Milwaukee.  Andersen has 29 years’ experience in healthcare and senior living, including previously serving at Lifespace as executive director at Beacon Hill, Claridge Court, and Oak Trace from 2004 to 2013. Most recently, he served as executive director at Oakmont Senior Living for the Simi Valley and Riverpark campuses. Andersen earned his bachelor’s degree in business administration summa cum laude from Capella University and is a Licensed Nursing Home …

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FinanceNewsNorth DakotaWisconsin

BMO Provides $70M Bridge Loan to New Perspective, Boldt Capital 

by Jeff Shaw

MILWAUKEE and WEST FARGO, N.D. — BMO’s Healthcare Real Estate group has provided a $70 million bridge loan for a joint venture between New Perspective Senior Living, Boldt Capital and Fengate Asset Management. The loan is secured by three senior living communities totaling 435 units located in suburban Milwaukee and West Fargo.  Loan proceeds include capital allocated for future capital improvements and value enhancement. Further details were not disclosed.

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AcquisitionsIndependent LivingNewsOhio

Blueprint Negotiates Sale of 102-Unit Independent Living Community Near Cleveland

by Jeff Shaw

CLEVELAND — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 102-unit independent living community in a Cleveland suburb. The property was constructed in the late 1980s. The buyer was a private, Northeast-based investor. Further details were not disclosed. Connor Doherty and Ryan Kelly led the Blueprint team.

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CaliforniaNewsOperationsPeople

Integral Names Jeff Jhunell Sumabat as Executive Director of Bellara Senior Living in Hayward, California

by Jeff Shaw

HAYWARD, Calif. — Integral Senior Living has named Jeff Jhunell Sumabat as executive director of Bellara Senior Living, a new senior living community situated east of San Francisco in Hayward. The community offers independent living, assisted living and memory care.  After he earned bachelor’s degrees in nursing and clinical laboratory technology, Sumabat’s career began in nonprofit and civil service work in the Philippines. After moving to the U.S., he cultivated a passion for senior living, holding roles as a resident services director, memory care director, executive director and, most recently, …

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Affordable HousingCaliforniaDevelopmentNews

Community HousingWorks Opens 59-Unit Puesta del Sol Apartments in San Diego

by Jeff Shaw

SAN DIEGO — Community HousingWorks (CHW) has opened Puesta del Sol Apartments, a 59-unit affordable seniors housing community in the Linda Vista neighborhood of San Diego.  Puesta del Sol apartments are reserved for households earning 30 to 60 percent of the area median income and the community has been awarded 59 project-based vouchers to ensure access for the most income-vulnerable residents. Additionally, six of the 59 vouchers will serve chronically homeless. Built adjacent to CHW’s Amanecer Apartments on Ulric Street, Puesta del Sol completes the combined intergenerational community. Together, Puesta …

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