Author

Jeff Shaw

Active AdultDevelopmentNewsNorth Carolina

Capstone, Liberty Start Construction of $36M Inspire Royal Park in Matthews, North Carolina

by Jeff Shaw

MATTHEWS, N.C. — Capstone Communities and Liberty Senior Living have started construction of Inspire Royal Park, an active adult community for persons age 55 or older in the Charlotte suburb of Matthews. Approximately 30 percent of Matthews residents are over age 55, according to the developers. Construction costs were estimated at $36 million. Inspire Royal Park will feature 204 residences comprised of 20 free-standing cottages with private attached garages and 184 loft apartments offering one, two or three bedrooms. Harrison Street Real Estate Capital, a Chicago-based private equity real estate …

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AcquisitionsAssisted LivingCaliforniaNews

Merrill Commercial Real Estate Arranges $18M Portfolio Sale in Redding, California

by Jeff Shaw

REDDING, Calif. — Merrill Commercial Real Estate has arranged the sale of a two-property portfolio made up of 151 units of assisted living and memory care in Redding. The properties went under contract pre-pandemic. Since that time, the occupancy dropped nearly 20 percent as a COVID outbreak in one of the locations took a toll. Despite this, the buyers stuck with the deal. A private equity group looking to expand in California acquired the properties from an independent owner-operator for $18 million. Tyler Merrill arranged the transaction.

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AcquisitionsNewsSkilled NursingTexas

Ensign Group Acquires 108-Bed Windsor Rehabilitation in Terrell, Texas

by Jeff Shaw

TERRELL, Texas — The Ensign Group Inc. has acquired both the real estate and operations of Windsor Rehabilitation and Healthcare, a 108-bed skilled nursing facility in Terrell, approximately 35 miles east of downtown Dallas. “We are very excited to add another operation in North Texas and believe that this newer building is poised to do great things,” says Barry Port, Ensign’s Chief Executive Officer. “We will continue to look for opportunities in Texas and are confident that our local clusters are well prepared for this addition and for additional growth.” …

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AcquisitionsMaineNews

Blueprint Brokers Sale of 57-Unit Community in Maine

by Jeff Shaw

PORTLAND, Maine — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 57-unit assisted living community and 41-unit memory care community in the Portland metro area. The properties were developed in 1996 and 1997, respectively. A REIT sold the assets to a Massachusetts-based owner-operator. The price was not disclosed.

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Company NewsNews

Erickson Living Rebrands as Erickson Senior Living

by Jeff Shaw

BALTIMORE — As a part of its long-term growth and business strategy, Erickson Living today unveiled its plan to evolve its brand identity and change the company’s name to Erickson Senior Living. The rebranding comes as the company, which oversees a portfolio of more than $1 billion, continues to invest heavily to enhance and expand its network of senior living communities and directly connect its offerings to a population anticipated to double to 98 million by 2060. Based in Baltimore, Erickson Senior Living’s portfolio consists of 20 communities in 11 …

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DevelopmentIndustry Voices

Busting 4 Myths of Interior Design in Senior Living

by Jeff Shaw

Residents require spaces that are well finished, but take unique needs into consideration. By Melissa Banko There are plenty of misconceptions around interior design and even more so in the world of senior living design. As someone with 15 years of experience in this industry, I’m here to dispel some of the more pervasive myths I hear and drop a few tips along the way. Senior Living is Just Multifamily for Old People Let’s clear the air from the get-go. Multifamily, hospitality, and senior living design are three completely different …

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FinanceFrom The Magazine

Capital Stack Shifts

by Jeff Shaw

Seniors housing lending isn’t dormant, but lenders and borrowers alike rethink their strategies as the pandemic continues. By Jeff Shaw The COVID-19 pandemic has been a shock to the entire seniors housing industry at every level, and capital providers in the sector are no exception.  With occupancy at record lows, lenders and investors understandably have changed strategies to protect their investments. Occupancy continued its free-fall in first-quarter 2021, falling 870 basis points year-over-year to 78.8 percent for private-pay seniors housing, according to the National Investment Center for Seniors Housing & …

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DevelopmentFrom The Magazine

Company Profile: Alliance Residential Breaks New Ground

by Jeff Shaw

The largest developer of multifamily communities in the United States tries to bring fresh ideas to seniors housing. By Jeff Shaw While seniors housing carries more operational risk and complexity than other commercial real estate asset classes, the property sector is enticing investors because it offers comparatively higher capitalization rates, meaning a higher annual return on investment. In 2019 before the pandemic struck, the average cap rate for garden-style apartment communities was 5.6 percent compared with 6.4 percent for private-pay seniors housing, according to Real Capital Analytics. In 2019, Alliance …

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DevelopmentIndustry VoicesLegal Issues

How to Work with Cities on New Developments

by Jeff Shaw

Making a partner of your municipality can smooth over many challenges. By Chad Suitonu The hardest thing about senior living development is finding the right land. Many of the good spots are already taken and competition is fierce for the remaining.  But when you have found the sweet spot — that site that has the right demographic demand, limited competition, barriers to entry and a feasible price — you’ll likely still have some obstacles to overcome with the city to get your project built.  Not only must you ensure that …

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Industry Voices

The SHB Interview: Earl Parker, CEO, Commonwealth Senior Living

by Jeff Shaw

From hotels to dining services to chief executive, industry veteran now takes over the reins of a mid-sized, regional operator. By Jeff Shaw Earl Parker knows what it means to grow. In his tenure with three seniors housing operators, he’s seen it firsthand. At Kisco Senior Living, his introduction into the sector in 1995, the company expanded from two to 24 buildings while he served as regional vice president of operations. At Bell Senior Living, the company grew from eight to 22 properties in just two years during his tenure …

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