ANNAPOLIS, Md. — Seniors housing occupancy experienced a 110-basis-point decrease to 88.7 percent in the month of, while nursing care facility occupancy was down 220 basis points to 84.7 percent, according to the National Investment Center for Seniors Housing & Care (NIC). The data is featured in NIC’s Intra-Quarterly Snapshot, a new monthly publication developed to keep owners and operators better informed during the COVID-19 pandemic. The data, which comes from 15,000 stabilized seniors housing communities in 140 U.S. markets, was previously released on a quarterly basis. “Challenges in senior …
DALLAS — A vast majority of residents in seniors housing communities — 96 percent of them — approve of the current visitation restrictions and social distancing rules to combat the COVID-19 pandemic, according to a survey by Dallas-based operator Buckner Retirement Services. The survey gathered 140 responses from residents across six different Buckner communities in Texas in early May. More than 75 percent of seniors surveyed listed family visits as something they miss most. Other top activities missed within the communities include going to church (56 percent) and group dining …
HOUSTON and DALLAS — Blueprint Healthcare Real Estate Advisors has brokered the sale of seven skilled nursing facilities in Texas for $23 million. The transaction was part of LTC Properties’ continuing divestment of its Preferred Care-branded properties. The portfolio totals 1,150 beds, with five of the communities located in major metros such as Houston and Dallas. A private company based in the Northeast was the buyer. The company was attracted to the immediate economies of scale with so many beds in a single state, according to Blueprint.
MACON, Ga. — Watercrest Senior Living Group and its equity partners, Peninsula Alternative Real Estate and Corecam Capital Partners, have broken ground on Watercrest Macon Assisted Living and Memory Care in Macon. The community will feature 76 assisted living and 22 memory care units. Renasant Bank provided financing, while EMJ Corp. is building the property. Watercrest Macon is located within the Providence at Bass development. The prosperous area offers high-end residential, retail and dining establishments, as well as diverse cultural and entertainment venues. Watercrest Macon is scheduled to welcome residents …
Should assisted living be marketed primarily as a hospitality model or a healthcare model and why? By Meredith Mills Chief Operating Officer Country Meadows Retirement Communities I have always argued that anyone who is still asking himself or herself this question is already behind in the game. The changes in the Medicare payment structure that have occurred over the last five years have continued to push acuity into our communities. If you haven’t already invested in your clinical structure, do so. We are a part of the healthcare system, and healthcare …
LOS ANGELES — Panorama Senior Housing has unveiled plans for Eagle Rock Assisted Living and Memory Care Center in the Eagle Rock neighborhood of Los Angeles. KTGY Architecture + Planning is the architect of the new community. Groundbreaking is scheduled for early 2021, with completion in late 2022. The property will feature 87 assisted living units and 22 memory care units in a five-story building and a four-story building with a rooftop deck. A ground-level courtyard and subterranean parking structure connect the two buildings. “This site was quite challenging because …
BEDFORD, N.H. — Single Digits, a wireless network provider serving multiple commercial real estate sectors including seniors housing, has acquired Inviacom, a provider of Wi-Fi and connectivity services for senior living communities across the U.S. Bedford-based Single Digits cites Inviacom’s specialty in the seniors housing sector as a reason for the purchase. The buyer plans to combine the software and service offerings of the two companies. “Inviacom has been providing exceptional managed Wi-Fi, VoIP, white glove training services and hands-on support to senior living communities since 2011,” says Stephen Singlar, …
ARNOLD, Mo. — Love Funding has provided a $12.9 million FHA loan for The Woodlands of Arnold, an assisted living, memory care and skilled nursing complex in Arnold. The loan will replace bridge financing on the property. The Woodlands of Arnold is part of a larger healthcare campus, offering a full continuum of care including independent living, assisted living, memory care and skilled nursing. The subject credit facility included financing for a 178-bed skilled nursing facility and a 24-unit assisted living facility that is being converted into a memory care …
HARLEYSVILLE, Pa. — CBRE has arranged an undisclosed amount of supplemental financing for Arbour Square of Harleysville, a 276-unit independent living community. Located approximately 35 miles north of downtown Philadelphia, the community was opened in two phases between 2006 and 2014. The borrower is Green Courte Partners, and the company’s wholly owned subsidiary True Connection Communities operates the property. Aron Will, Austin Sacco and Tim Root arranged the Freddie Mac loan. Further details of the transaction were not disclosed.
WEST DES MOINES, Iowa — Lifespace Communities, a West Des Moines-based owner-operator of 15 continuing care retirement communities, has hired Nicholas Harshfield as chief financial officer effective July 1. Harshfield brings more than 30 years of financial experience to the role, 15 years of which are in senior living. He will replace Larry Smith, who plans to retire after serving Lifespace for more than 17 years. Harshfield held executive leadership positions in four senior living organizations with a focus on developing and implementing strategic plans, integrating technology systems, securing financing …