INDIANAPOLIS — Blueprint Healthcare Real Estate Advisors has brokered the sale of a seniors housing community in Indianapolis. The buyer, seller, price and details on the property were not released, but the new owner plans to convert the property to an inpatient substance use disorder clinic. Andrew Sfreddo, Shane Harmon, Gunnar Raney, Connor Doherty and Ryan Kelly led the Blueprint team.
ALBANY and CALABASAS, Calif. — BMO Healthcare Real Estate Finance acted as lead arranger and administrative agent on a term loan refinancing for two seniors housing communities located in Southern California. The two Class A communities are Belmont Village Calabasas in Calabasas and Belmont Village Albany in Albany and offer a combined total 315 units. The borrowers are the operator, Belmont Village Senior Living, and its capital partner, Harrison Street.
REDMOND, Wash. — Emerald Communities, a Redmond-based nonprofit operator serving Emerald Heights and Heron’s Key, announced the promotion Denisa Feddersen from corporate controller to vice president and chief financial officer. Feddersen will be responsible for the overall strategic and operational aspects of finance, accounting and IT. She will work closely with the organization president, senior management, board of directors, residents and numerous outside consultants and partners to ensure Emerald Communities meets its financial and business goals. Feddersen has over two decades of experience in accounting and finance with many years …
By Richard Todd and Rob Schumann, Propel Insurance Post-pandemic, the property and casualty insurance landscape for senior living facilities is a combination of promising developments and formidable obstacles. On one hand, both the assisted living and skilled nursing sectors are witnessing enhancements in professional liability and workers’ compensation coverage. The advent of cutting-edge technologies holds the potential to revolutionize how senior living facilities monitor and care for their patients and residents. On the other hand, the senior living industry grapples with several adverse factors that cast a shadow over its …
TOLEDO, Ohio — Welltower Inc. (NYSE: WELL), a Toldeo-based REIT and the largest owner of seniors housing in the United States with nearly 100,000 units, has agreed to acquire 25 active adult communities from Affinity Living Communities for $969 million. The off-market transaction is part of a long-term strategic partnership between the two companies, with plans for future development activity together. The portfolio encompasses nearly 3,900 units predominately concentrated in the Pacific Northwest. The acquisition will enable Welltower to strategically scale the geographic reach of its active adult portfolio into …
LOS ANGELES — If a seniors housing operator is going to survive and thrive in the future, treating front-line staff well is going to be the key to that success. That’s according to a discussion at France Media’s InterFace Seniors Housing West conference, held Feb. 1 at the Omni Los Angeles. The panel, titled “The Power Panel: CEOs Discuss the State of the Industry,” featured Sean Kelly, CEO, Front Porch; Traci Taylor-Roberts, president, Sodalis Senior Living; Chris Belford, CEO, Sinceri Senior Living; and Isaac Scott, principal, Anthem Memory Care. Michael …
BALTIMORE — M&T Realty Capital Corp., a wholly owned subsidiary of M&T Bank specializing in providing financing nationwide for commercial real estate, had record 2023 production volume for its seniors housing team. The group is ranked as the No. 1 Fannie Mae DUS producer for seniors housing and the No. 2 Freddie Mac seniors housing lender for 2023. Last year, the seniors housing team financed 32 properties in 11 states totaling $575 million in closed loans. Leveraging Fannie Mae, Freddie Mac, FHA and bridge lending as sources, the group financed …
COON RAPIDS, Minn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Homestead at Coon Rapids, a 53-unit assisted living and memory care community in Coon Rapids, a northern suburb of Minneapolis. Built in 1999, The Homestead at Coon Rapids features 29 assisted living units 24 memory care units. The property totals 31,195 square feet on approximately three acres of land. The seller is a large, national nonprofit looking to condense its portfolio to focus on core communities. The buyer is an in-state owner partnering with an …
MINNEAPOLIS — Health Dimensions Group (HDG) has promoted Kathy Karr to senior vice president of consulting services of the Minneapolis-based operator. Karr began her career as a nursing assistant and has subsequently served as director of nursing, nursing home administrator and director of operations, providing leadership for multiple skilled nursing facilities. Since 2012, she has held various operations and consulting roles at HDG. As senior vice president of consulting services, Karr leads HDG’s expanding turnaround services, operational assessments and due diligence activities. She will partner with organizations to implement best …
Dominium Receives $354.2M Financing Package for Two Affordable Housing Projects in Glendale, Arizona
GLENDALE, ARIZ. — Merchants Capital has arranged more than $86.2 million in Freddie Mac 4 percent Low-Income Housing Tax Credit (LIHTC) Tax-Exempt Loan (TEL) forwards for the construction of Juniper Square, an affordable seniors housing community, and 67 Flats, an affordable family housing development, both in Glendale. Dominium Inc. is developing the two communities. The properties will maintain affordability through 2053, which will restrict all units to residents earning 60 percent or less of the area median income. The Freddie Mac permanent financing comprises $29.8 million for Juniper Square and $56.3 …