MAPLE GROVE, Minn. — Grace Management Inc. has hired Suzanne Hansmann as senior vice president of human resources. The company is based in Maple Grove, a suburb of Minneapolis. In her new position Hansmann directs and leads all human resources functions. She has more than 25 years of experience in the field, with specific expertise in areas of associate engagement and organizational effectiveness. Prior to joining Grace Management, Hansmann held human resources leadership roles in various settings including medical device, dental manufacturing and retail services. She led the human resources …
INDIAN LAND, S.C. — Watercrest Senior Living Group and equity partner Waypoint Residential have opened Watercrest Fort Mill – Indian Land Assisted Living and Memory Care. The community is located in Indian Land, approximately 20 miles south of Charlotte just across the North Carolina border. It features 75 assisted living units and 32 memory care units. General contractor Shiel Sexton built the community. It is the second senior living development partnership between Watercrest Senior Living Group and Waypoint Residential. The first project, Watercrest Newnan Assisted Living and Memory Care, recently …
OXFORD, Miss., and WASHINGTON, D.C. — Despite a slew of bad press related to the ongoing COVID-19 pandemic, prospective residents and their families have largely not changed their opinion of seniors housing. That’s according to a new survey released by D.C.-based American Seniors Housing Association and Oxford-based research firm ProMatura. The survey polled prospective customers of 131 participating communities, all private-pay seniors housing. Respondents were over 75 years of age with an income over $35,000 per year living in one of 15 metropolitan areas. Of the respondents, 63 percent said …
BOCA RATON, Fla. and TOLEDO, Ohio — Kayne Anderson Real Estate has acquired 27 medical office buildings and seven seniors housing communities from giant REIT Welltower (NYSE: WELL). The medical office buildings are spread throughout the country, while the seniors housing communities are all located in Florida. MB Real Estate and Discovery Senior Living operate the portfolio. The price and details on the locations were not disclosed. “This portfolio is a very compelling addition to our platform — institutional-quality medical office buildings with long-duration leases and seniors housing assets with …
GULFPORT, Miss. — Claiborne Senior Living has opened its sales office for The Claiborne at Gulfport Highlands in the coastal city of Gulfport. Scheduled for completion in 2021, the community will feature 70 assisted living residences and 30 memory care apartments. In preparation for the opening, Claiborne has named Chynna Hyde as executive director and Marissa Butterfield as community relations director. Hyde, who will oversee the community’s strategic direction and daily operations, has worked in health care on the Mississippi Gulf Coast for five years. Her expertise includes healthcare management, …
TAMPA, Fla. — Ziegler has arranged $70 million in bond financing for Tampa Life Plan Village to expand by acquiring the independent living units of University Village, a nearby continuing care retirement community (CCRC). The acquisition will include 445 independent living apartments, 46 independent living villas, the associated common areas and 32 acres of land. The health center, which features assisted living and skilled nursing units, was not included in the transaction. The seller is Westport Holdings Tampa. The United States Bankruptcy Court for the Middle District of Florida and …
HUNTSVILLE, Ala. — Pennrose and the Huntsville Housing Authority (HHA) have been awarded low-income housing tax credits from the Alabama Housing Finance Authority for the Phase II expansion of Stoneridge Villas in Huntsville. The project will add 65 units to the affordable seniors housing community, bringing Stoneridge Villas to a total of 145 apartments. Five of the new units will be wheelchair accessible and two will be outfitted for residents with hearing or vision impairments. Envolve Client Services operates the community. HHA and Pennrose previously partnered on Stoneridge Villas Phase …
ORANGE and TEXAS CITY, Texas — SLP Operations LLC has taken over management of Pinehurst Nursing and Rehabilitation Center in Orange and Seabreeze Nursing and Rehabilitation Center in Texas City. Pinehurst Nursing and Rehabilitation Center is a 111-bed skilled nursing facility, while Seabreeze Nursing and Rehabilitation Center features 107 beds. Both centers offer skilled nursing, physical therapy, post-acute care, long-term care, rehabilitation services, respite care and memory care in the Houston metro area. SLP now operates 41 seniors housing properties in the state of Texas.
LITTLETON, Colo. — Anthem Memory Care has named Angie Erickson as executive director of Willowbrook Place, a memory care community in the Denver suburb of Littleton. Erickson previously worked for Leisure Care, serving as sales manager and general manager of Denver’s Carillon at Belleview Station. She has also been general manager of MacKenzie Place in Colorado Springs and Treeo, a senior living community in Utah.
Although the coronavirus pandemic has created unprecedented challenges for the seniors housing sector, on the valuations side of the equation the future is still promising. That’s according to a panel of industry experts on an exclusive Seniors Housing Business webinar titled “Market Valuation: How are Seniors Housing Valuations Weathering the Pandemic?” Moderated by JP LoMonaco, president of appraisal and consulting firm Valuation & Information Group, the panel included Kevin Pascoe, chief investment officer at seniors housing REIT NHI; Rich Lerner, executive vice president at Housing & Healthcare Finance; Chris Kronenberger, managing …