Author

Jeff Shaw

Active AdultFeaturesNews

Know What Your Consumers Want and Expect, Advise Active Adult Developers

by Jeff Shaw

DALLAS — The success or failure of an active adult community hinges on whether the operator can deliver on its valuation proposition, and tenants are willing to pay a premium if their lifestyle expectations are met. That’s one of the key takeaways from an active adult panel discussion that took place March 6 during the 2024 NIC Spring Conference at the Omni Dallas Hotel. Prospective tenants in this real estate niche are experienced, sophisticated consumers who know when they are being sold a bill of goods. They know if leasing …

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FinanceIndustry Voices

A Rebound in Seniors Housing Is Underway, But We’re Not Out of the Woods Just Yet

by Jeff Shaw

Interest rates have more than doubled and capital market activity is down all while operations seem to be improving. By Alex Loo, director of originations, Hudson Realty Capital It’s now been four years since the COVID-19 pandemic first swept the globe.  The seniors housing and healthcare industry has since experienced many substantial transformations after having endured the government-imposed move-in bans, difficulties in hiring permanent staff, and the reluctance of older adults to transition to assisted living facilities. Recent data from NIC MAP Vision shows that in October, the occupancy rate for primary markets …

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AcquisitionsCCRCNewsTexas

Buckner Retirement Services Acquires The Stayton at Museum Way in Fort Worth, Texas

by Jeff Shaw

FORT WORTH, Texas — Nonprofit senior living provider Buckner Retirement Services has acquired The Stayton at Museum Way, a seniors housing community in Fort Worth. The Stayton at Museum Way is an 11-story continuing care retirement community featuring 188 independent living units, 42 assisted living units, 20 memory care units and 46 skilled nursing units.  The seller, Lifespace Communities, acquired The Stayton in 2019 and has operated it since. The price was not disclosed. The Stayton will be the seventh senior living community owned and operated by Buckner in Texas, …

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AcquisitionsColoradoNews

SLIB Negotiates Sale of 108-Bed Devonshire Acres in Sterling, Colorado

by Jeff Shaw

STERLING, Colo. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Devonshire Acres, an independent living, assisted living and skilled nursing community in Sterling, near the Nebraska border approximately 130 miles northeast of Denver. The community consists of 24 independent living/assisted living beds and 84 skilled nursing beds. It was built in 1982 and renovated in 1989. The property totals 55,430 square feet on approximately 10 acres of land. The seller was a REIT. This was the tenant’s only managed asset in the state. The buyer is a …

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FinanceIllinoisNewsSkilled NursingWisconsin

Walker & Dunlop Originates $65.7M in HUD Loans for Seven Midwestern Skilled Nursing Communities

by Jeff Shaw

ILLINOIS and WISCONSIN — Walker & Dunlop Inc. has originated $65.7 million in 232/223(f) and 241(a) HUD loans for seven skilled nursing facilities and memory care centers across Illinois and Wisconsin. Walker & Dunlop’s Midwest FHA Finance team, led by Joshua Rosen, Brad Annis, and Johnny Rice, arranged the construction loan and refinancings on behalf of five clients. The loans included: Elevate Care Waukegan Location: Waukegan, Illinois Amount: $21.2 million Walker & Dunlop arranged a 232/223(f) HUD loan to refinance existing commercial debt, partnership debt, and fund recent capital improvements …

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CCRCDevelopmentIndependent LivingNewsNorth Carolina

LCS Development Plans $90M Cypress Glen Expansion Project in Greenville, North Carolina

by Jeff Shaw

GREENVILLE, N.C. — LCS Development, An LCS Company, has received an undisclosed amount of financing for the community expansion and remodeling project at Cypress Glen, a senior living community in Greenville.  The $90 million project will add 57 independent living residences and include a new auditorium, expo kitchen, wine bar and remodeled amenities. LCS Development has led the planning, development and design, and will oversee the construction services.  The expansion is slated for completion by November 2025. Cypress Glen sits on over 95 scenic acres and is the only continuing …

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AcquisitionsAssisted LivingNewsTennessee

Blueprint Brokers Sale of Vacant Community in Memphis for Behavioral Health Conversion

by Jeff Shaw

MEMPHIS, Tenn. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a vacant assisted living community in Memphis. Blueprint’s behavioral healthcare team advised the seller on obtaining special zoning entitlements to seek a buyer looking to convert the property into a behavioral healthcare facility. The buyer originally planned to implement capital improvements and license the building as a substance abuse facility. However, during escrow, Blueprint was approached by an adolescent mental healthcare provider, expressing strong interest in leasing and operating the property. Blueprint introduced the buyer to the …

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NewsPeople

Western States Lodging and Management Promotes Dave Egbert to Vice President Operations Senior Living

by Jeff Shaw

SALT LAKE CITY — Western States Lodging and Management (WSLM), a Salt Lake City-based management and development firm focused on hospitality, senior living and multifamily housing, has promoted Dave Egbert to vice president operations senior living.  Egbert will provide operational leadership, planning, coordination and support to the WSLM’s Legacy Retirement Communities. Egbert has nearly 20 years of experience in the senior living and older adult healthcare field. With beginnings as a direct care provider, he has served in leadership positions, most recently as WSLM’s executive director at Legacy Village of …

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Assisted LivingColoradoDevelopmentNews

HDG Opens Terra Bluffs Community in Parker, Colorado

by Jeff Shaw

PARKER, Colo. — Health Dimensions Group (HDG), along with co-owners Ellipsis and Invesque, has opened Terra Bluffs, an assisted living and memory care community in Parker. The property is located southeast of Denver. Details such as the number of units were not disclosed. HDG provides oversight of the community’s day-to-day operations. Ellipsis is the project developer for the care community and Invesque is the project’s investment partner.

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