ALEXANDRIA, Va. — Oxford Finance LLC has closed a $19.8 million add-on term loan and revolving line of credit to an owner-operator of skilled nursing facilities based in New Jersey. The upsized credit facility now exceeds $75 million. The additional proceeds were used to finance the opportunistic acquisition of a facility located in the eastern U.S. This transaction represents Alexandria-based Oxford’s third deal with the undisclosed borrower.
TAMPA, Fla. —MedBest Recruiting, a Tampa-based executive search firm serving the seniors housing industry, has hired Erica Hutsenpiller as an executive senior living recruiter. Hutsenpiller brings over 15 years experience in the senior living industry. She served as a regional director of business development in skilled nursing and as an executive director for assisted living and memory care communities. Hutsenpiller’s regional director role consisted of overseeing clinical liaisons, admissions, and developing long-term relationships with area hospital C-Suites and physicians in each marketplace.
It’s more important than ever to be proactive, strategic and creative when it comes to generating qualified leads and moving prospects through the sales cycle. By Joseph L. Roche, The Roche Associates Inc. Few industries have been more impacted by the COVID-19 pandemic than seniors housing. While active adult, independent living, assisted living, memory care and life plan communities may not have been as hard hit as some nursing homes, COVID-19 has led to policies and procedures currently restricting or affecting move-ins; meetings and tours with prospects in their buildings; …
Despite the economic turmoil and operational stress in the wake of the COVID-19 pandemic, all parts of the seniors housing — including the lenders, investors, owners and operators — appear to be taking a measured approach, according to Brian Sunday, director with AEW Capital Management. “We keep preaching patience,” said Sunday. “Occupancies are dipping, expenses are rising, but nobody’s pressing the panic button. It’s a long-term play.” The comments came on a webinar hosted by France Media Inc. and Seniors Housing Business on Wednesday, May 13. Other panelists included Rich …
CHICAGO — Harborview Capital Partners, a commercial real estate finance, equity and advisory firm, has arranged a $32.4 million HUD 232/223(f) refinancing of a 210-bed skilled nursing facility in metro Chicago. The borrower is Chicago-based Legacy Healthcare. The loan features a 35-year term and amortization Ephraim Kutner, Jonathan Kutner and Eli Kutner negotiated the transaction.
MESA, Ariz. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 160-bed skilled nursing facility in Mesa. The property was recently renovated and expanded, and is located near multiple medical centers that refer residents to the facility. A buyer with an existing footprint in the market acquired the asset for an undisclosed price. The transaction is part of a series of sales that Blueprint arranged for LTC properties, which is divesting its entire portfolio of Preferred Care facilities. Blueprint estimates the combined sales will total $78 million.
BONITA SPRINGS, Fla. — Discovery Senior Living has named Jeff Floyd as the company’s vice president of operations. Floyd joins Discovery Senior Living after serving the past five years at Chicago-based Enlivant, where he held a divisional role as senior vice president of operations. The move is intended to support Discovery Senior Living’s continued portfolio growth, as well as the enhancement of the company’s lifestyle and care services for residents as part of its new experiential-living philosophy. Floyd began his career at ManorCare, where he ascended to become a regional …
WALL TOWNSHIP, N.J. — Springpoint Senior Living has named Sonny Taragin as vice president of information technology and chief information officer. Taragin is responsible for all aspects of the organization’s technology, focusing on its platforms, operational effectiveness and long-term strategy. Taragin has over 20 years of information technology leadership experience within several healthcare industries. He served most recently as chief information technology officer with Mid-Atlantic Health Care in Maryland, where he led and supported the implementation of new networks, infrastructure, and a host of clinical and administrative applications. Prior positions …
AVENTURA, Fla. — Rieber Developments has broken ground on 12|12 Aventura, a 10-story mixed-use project featuring medical office, luxury senior residences and a food hall. The property is situated in Aventura, approximately 20 miles north of Miami. Arquitectonica designed the development, which will include a 30,000-square-foot gourmet marketplace and food hall, 25,000 square feet of office space and a 160-unit senior living component with a structured parking garage. The roof will feature gardens and micro-parks. Along with its sister project Ivory 214, the development will serve as the epicenter of …
IRVINE, Calif., NEWTON, Mass., and SAN CLEMENTE, Calif. — Three major REITs in the seniors housing sector, Irvine-based Sabra Health Care REIT, Newton-based Diversified Healthcare Trust (DHC) and San Clemente-based CareTrust REIT, have released their first-quarter reports, including updates on how the companies are handling the coronavirus epidemic. Sabra reported that it has “not seen a material disruption from the COVID-19 pandemic in the monthly payment of rents and have not utilized any deposits or other credit enhancements for payment of rent as a result.” The company suggests the positive …