Author

Jeff Shaw

AcquisitionsAssisted LivingMissouriNews

JLL Arranges Sale of Three-Community Portfolio in Missouri

by Jeff Shaw

WILDWOOD, TOWN & COUNTRY and KANSAS CITY, Mo. — JLL Capital Markets has arranged the sale of three seniors housing communities in Wildwood, Town & Country and the Burlington Creek area of Kansas City. The buyer was a joint venture between Artemis Real Estate Partners, Scarp Ridge Capital Partners and Arrow Senior Living. The seller and price were not disclosed. JLL represented the seller and procured the buyer spearheaded by Scarp Ridge and capitalized by Artemis. Arrow Senior Living is taking over operations of the three communities. The acquisition is …

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FinanceNewsWashington

CFG Arranges $15.4M Financing for Truewood by Merrill, First Hill in Seattle

by Jeff Shaw

SEATTLE — Capital Funding Group (CFG) has arranged a $15.4 million bridge loan to refinance debt on Truewood by Merrill, First Hill, a 98-unit independent living, assisted living and memory care community in Seattle.  CFG closed the financing on behalf of the joint-venture ownership. Further details were not disclosed.

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MarylandNewsPeople

Lutheran Social Ministries of Maryland Names Lisa Pearre as Vice President of Marketing, Communications

by Jeff Shaw

WESTMINSTER, Md. — Lutheran Social Ministries of Maryland (LSMMD) has hired Lisa Pearre as vice president of marketing and communications.  Pearre leads the strategic marketing and communications efforts for Westminster-based LSMMD and its communities: Carroll Lutheran Village in Westminster and Lutheran Village at Miller’s Grant in Ellicott City. Pearre joins LSMMD with over 20 years’ senior living marketing and sales agency experience. As a thought leader and advisor for nonprofit senior living organizations, she has guided teams through various challenges, including start-up communities, major expansion projects, occupancy turnaround, community repositioning …

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CCRCDevelopmentNewsSouth Dakota

Sanford Health Plans 330-Unit CCRC in Sioux Falls, South Dakota

by Jeff Shaw

SIOUX FALLS, S.D. — Sanford Health has announced plans to build Good Samaritan Society – Founder’s Crossing, a continuing care retirement community (CCRC) in Sioux Falls.  The developer plans to break ground this spring. The first phase of the project calls for 146 independent living villas, 120 independent living apartments, 32 assisted living apartments and 32 memory care apartments, due for delivery in 2026.  A second phase over the following two years will add a short-term rehabilitation and long-term care center, additional villas, a Sanford Health clinic and a Lewis …

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AcquisitionsFeaturesIdahoNews

Asset Consolidation Will Continue in the Boise Metro Seniors Housing Market

by Jeff Shaw

— By Blake Bozett, founder and CEO, The Zett Group — The Boise metro (Boise, Eagle, Meridian, Garden City) is made up of 75 licensed assisted living facilities, 42 of which have more than 30 licensed beds. Of those 42 assisted living facilities, the ownership type is made up of: national owner/operator (18), local owner/operator (12), REIT (4), regional owner/operator (3), local development company (2), privately held real estate investment firm (1), 1031 investment platform (1) and non-profit (1). These ownership stats aren’t necessarily unique to other metros such as …

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AcquisitionsNews

Berkadia Arranges Sale of 112-Unit Seniors Housing Community in Atlanta’s Buckhead District

by Jeff Shaw

ATLANTA — Berkadia’s Seniors Housing & Healthcare team has arranged the sale of Brighton Gardens of Buckhead, a 112-unit seniors housing community in Atlanta’s Buckhead district. Metro Atlanta-based PruittHealth purchased the asset from Indianapolis-based Prime Care One LLC for an undisclosed price. Cody Tremper, Mike Garbers, Dave Fasano and Ross Sanders of Berkadia represented the seller in the transaction. Additionally, Jay Healy of Berkadia arranged a $13 million bridge-to-HUD loan for the acquisition of Brighton Gardens, as well as the refinancing of two separate skilled nursing facilities in Georgia. The …

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Affordable HousingDevelopmentFinanceNewsPennsylvania

HumanGood Receives $26.5M HUD Financing for Green Retrofit Projects in Philadelphia 

by Jeff Shaw

PHILADELPHIA — The U.S. Department of Housing and Urban Development (HUD) has awarded HumanGood $26.5 million in financing from the Green and Resilient Retrofit Program (GRRP), which provides funding for direct loans and grants to HUD-assisted multifamily properties to make sustainability updates.  The following HumanGood affordable housing communities in Philadelphia were the only properties in Pennsylvania to receive the award in the comprehensive category in its first wave: The funds will help HumanGood meet sustainability goals, assisting in the renovation and preservation of 329 affordable seniors housing units. President Biden’s …

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NewsOperationsPeople

Clearwater Living Promotes Jill Zimmerman to Director of Resident Engagement, Wellbeing

by Jeff Shaw

NEWPORT BEACH, Calif. — Clearwater Living, a Newport Beach-based operator, has expanded Jill Zimmerman’s role with the company, giving her new responsibilities as director of resident engagement and wellbeing. Zimmerman will continue to develop the company’s Empowered Living program and oversee the Clearbrook Memory Support neighborhoods. Zimmerman is a certified grief coach that joined Clearwater Living in 2019 as the lifestyle director for Clearwater at Sonoma Hills. She was promoted to director of Empowered Living in 2021 to help train, mentor and inspire the lifestyle teams across all Clearwater communities, …

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FeaturesInvestmentNews

JLL Survey: 63 Percent of Investors Plan to Increase Holdings in 2024

by Jeff Shaw

CHICAGO — Green shoots are starting to emerge in the capital markets, benefiting the seniors housing sector of the industry. The underlying market fundamentals continue to bounce back from the lows experienced during the COVID-19 pandemic with occupancy increasing, construction starts slowing and the market showing signs of stabilization and growth, according to JLL’s seventh annual Seniors Housing and Care Investor Survey and Trends Outlook. Of the investors surveyed for the report, 63 percent of respondents indicated they would increase their investment exposure to seniors housing in 2024, which is up …

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DevelopmentNewsTexas

The Legacy Plans Expansion of The Legacy Willow Bend in Plano, Texas

by Jeff Shaw

PLANO, Texas — The Legacy Senior Communities has unveiled plans for an independent living expansion of The Legacy Willow Bend, its flagship community in Plano.  This initiative aims to meet the demand for premium senior living, as Dallas-Fort Worth experiences a significant demographic trend towards a growing senior population, according to the company.  The expansion, with its hybrid-home design, will offer all the privacy of a single-family home, while still maintaining a sense of community and security that having a few neighbors will bring. This new model presents an entirely …

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