TAMPA, Fla. — Private equity firm Twin Light Capital has acquired Hudson Manor Assisted Living, located in the Davis Islands neighborhood of Tampa. Hudson Manor is the only senior living property in Davis Islands, and one of two properties in the island community listed on the National Register of Historic Places. The seller and price were not disclosed. Miami architect Martin Hampton originally designed the property in 1926 as the Palmerin Hotel. The property was converted into seniors housing in 2004 and extensively renovated from 2016 to 2018. “Hudson Manor …
DES MOINES, Iowa — Blueprint Healthcare Real Estate Advisors has arranged the sale of seven skilled nursing homes in Iowa. Largely located in the Des Moines metro area, the properties total approximately 550 beds. LTC Properties sold the assets to a private owner-operator for an undisclosed price. The transaction was the third of five that Blueprint is brokering for LTC, which is divesting its entire portfolio of Preferred Care-branded properties.
ALEXANDRIA, Va. — Argentum has elected Pat Mulloy, managing director of Commodore Capital LLC, to serve as the new chairman of the Argentum Board of Directors. Most recently, he served as vice chairman on the board. Mulloy practiced law for 20 years before founding Atria Senior Living, where he was president and CEO from 1996 to 2000. He was CEO of LifeTrust America from 2001 to 2004 and CEO of Elmcroft Senior Living from 2006 to 2018. Randy Richardson, president of Vi, will continue to serve as vice chairman. New …
PLEASANT HILL and DAVIS, Calif. — CBRE has provided refinancing loans for three Carlton Senior Living properties totaling $58 million. The portfolio includes Carlton Senior Living Poet’s Corner and Carlton Senior Living Pleasant Hill – Martinez, both located northeast of the Bay Area in Pleasant Hill, as well as Carlton Senior Living Davis in the Sacramento suburb of Davis. The properties feature a combined 251 assisted living units and 64 memory care units and average 93 percent occupancy. Andrew Behrens, Aron Will, Austin Sacco, and Adam Mincberg arranged the Freddie …
OKLAHOMA CITY — Diakonos Group LLC has started construction of Parc Place Medical Resort, a post-acute rehabilitation facility in Oklahoma City. Located on an 8.3-acre site, the 349,892-square-foot asset will offer 75 private rooms. The facility will focus on short-stay rehabilitation. Partners on the project include Pi Architects, SCI Construction and SMC Consulting Engineers. The building is divided into three houses, each with its own themed dining rooms, outdoor cafés and shaded garden courts. “We want to create an environment where people see others getting better and are inspired to …
OCEANSIDE, Calif. — Lancaster Pollard Mortgage Co., a division of ORIX Real Estate Capital, has provided a $25 million FHA construction loan for Transitional Care & Skilled Nursing of Oceanside. The 120-bed skilled nursing facility will be located in Oceanside, approximately 40 miles north of San Diego. RangeComm Development, in partnership with Providence Group, is developing the property, which will focus on short-stay rehabilitation. The non-recourse loan features a fixed interest rate and 40-year term. Brett Murphy led the transaction for Lancaster Pollard.
WASHINGTON, D.C. — The American Seniors Housing Association (ASHA) has announced plans to make advertising buys in several high-profile newspapers as part of the organization’s plan to protect the seniors housing industry’s reputation during the COVID-19 outbreak. Outlets to receive ads include The Wall Street Journal, New York Times, Washington Post, Los Angeles Times, Dallas Morning News, Atlanta Journal Constitution, Boston Globe and AARP magazine. The PR campaign is known as “Senior Living Today & Every Day.” Concurrent with the ad buy, ASHA also produced a video showing the measures that seniors …
BALTIMORE — Capital Funding Group (CFG) and CFG Bank are reinvesting some of the funds earned from facilitating Paycheck Protection Program (PPP) loans to provide meals to frontline healthcare workers at skilled nursing and assisted living facilities in Maryland. Rise Biscuits will provide lunch meals and dinner will be provided by both Maryland Blackwall Hitch locations and some of the Maryland Greene Turtle locations. Driven Private Transportation will deliver the meals to 53 skilled nursing and assisted living facilities in Baltimore and surrounding areas. “Nursing homes/assisted living facilities and their …
OAKLEY, Calif. — Highridge Costa Development Co. and SVA Architects Inc. have released plans for Twin Oaks Senior Residence, a mixed-use project in Oakley, located between Sacramento and the Bay Area. The three-story community will feature 98 one-bedroom and 32 two-bedroom units for people age 62 and older. Units are reserved for those earning between 50 percent and 80 percent of the area median income. The project will also include 5,667 square feet of street-fronting commercial space, 188 parking spaces and over 63,000 square feet of open space on the …
NEW YORK CITY and MURFREESBORO, Tenn. — Two of the larger REITs in seniors housing, New York-based New Senior Investment Group and Murfreesboro-based National Health Investors, released first-quarter reports showing continued profitability despite the ongoing struggles due to the COVID-19 pandemic. New Senior reported 141 positive coronavirus cases in its communities — 101 residents and 40 workers — across 16 communities. With 10,800 residents and 3,300 workers, that accounts for 1 percent of the company’s population. One particularly large outbreak at a continuing care retirement community in Philadelphia accounts for …