HAYDEN, Idaho — Blueprint Healthcare Real Estate Advisors has arranged the sale of Honeysuckle Place, a 39-unit assisted living community in Hayden, approximately 30 miles east of Spokane, Washington. A national owner-operator sold the property to a regional operator looking to expand into Idaho. The price was not disclosed. Originally built in 1996, the community was positioned as a value-add opportunity, though the seller did increase occupancy by 20 percent during the transaction process, according to Blueprint. The sale is part of a larger portfolio of strategic dispositions for the …
Investors should seek out managers with low turnover, local knowledge and solid standardized practices. By Jess Stonefield Market demographics are just one set of factors that impact a seniors housing investment. Another factor, and arguably a more important one, is the operator managing the senior housing community in which you invest. Operators are charged with managing the day-to-day business within the care community and play a significant role in determining the success of any given investment. As such, they need to be chosen carefully — more carefully than many investors …
LOS ANGELES — Most seniors housing executives see this industry as a long-term play, according to panelists at France Media’s InterFace Seniors Housing West conference, held Feb. 20 at the Omni Los Angeles in Downtown Los Angeles. However, the industry “lifers” don’t necessarily see today’s investors taking the same approach to this product. The comments came during a session titled “Investment Update: Should Today’s Investors Buy, Sell or Hold in the 2020 Market?” “The investor community is focused on the quarter-to-quarter results and not thinking about the 10- to 20-year …
FLORIDA and NORTH CAROLINA — Monticello has provided $35.9 million in first lien debt financing for the acquisition and renovation of four communities in Florida and South Carolina. The properties, totaling 345 units, offer assisted living and memory care services. The names and specific locations were not disclosed. The borrower is an owner-operator with a total portfolio of 1,116 units.
CALIFORNIA — JCH Senior Housing Investment Brokerage has arranged the sale of two assisted living communities in California. The first community totals 49 beds in Riverside County. A local owner seeking to grow its portfolio paid $5 million for the property. The second property was a 15-unit boutique community in Orange County. A local buyer interested in entering the seniors housing market paid $3.3 million for the asset. Both sellers were family owner-operators looking to retire. Jim Hazzard, and Cindy Hazzard handled the transaction process in both sales. The specific …
SAN DIEGO — As the long-standing “continental divide” between the healthcare industry and seniors housing begins to close due to economic realities, the disruptors who embrace the opportunity to build a more integrated model of care for the elderly will be the big winners. That’s the message Andy Waldeck, senior partner at Boston-based growth strategy consulting firm Innosight, delivered Thursday afternoon during his keynote address to several hundred attendees at the NIC Spring Conference. “Disruption is actually a process. It explains how industries change, how they become more affordable, more …
MARYLAND — Ziegler has closed $99.3 million in bond financing for Integrace Inc., a group of four continuing care retirement communities (CCRCs) in Maryland. The company officially affiliated with Acts Retirement-Life Communities in April 2019. Founded in 1974, Integrace is a nonprofit system of retirement communities consisting of Bayleigh Chase in Easton; Buckingham’s Choice in Adamstown; Fairhaven in Sykesville; and Copper Ridge in Sykesville. Integrace also operates a research institute, The Integrace Institute. The financing consists of $87.1 million in tax-exempt bonds and $12.2 million in taxable bonds. The tax-exempt …
WEST DES MOINES, Iowa — Lifespace Communities has hired industry veteran Jesse Jantzen to the position of president and chief executive officer, effective April 1. Over a nearly 30-year career, Jantzen has held similar positions with Ascension Living and Elder Care Alliance, various leadership positions with Life Care Services and, most recently, was chief executive officer of Lutheran Life Communities. As Jantzen transitions into his new role, Larry Smith, the company’s interim president and CEO will transition back to his role as the company’s chief financial officer. Lifespace Communities, based …
SAN JOSE, Calif. — Oakmont Senior Living has opened a marketing information center at Oakmont of Evergreen in San Jose. Scheduled to open this summer, the 93,733-square-foot community will offer 62 assisted living and 39 memory care units.
CLERMONT, Fla. — Greystone Health has cut the ribbon on The Lakes of Clermont Health and Rehabilitation Center in Clermont, a suburb of Orlando. The skilled nursing facility offers 80 beds in 40 private and 20 semi-private rooms. The property totals 60,000 square feet. Greystone Health manages 43 facilities throughout Florida, Illinois and Missouri. The Clermont location represents Greystone Health’s third center located in Lake County.