Author

Jeff Shaw

Active AdultColoradoDevelopmentNews

Headwaters Group Breaks Ground on 172-Unit Aspendale Centennial Active Adult Community in Colorado

by Jeff Shaw

CENTENNIAL, Colo. — Headwaters Group has broken ground on Aspendale Centennial, an active adult community in Centennial, a southern suburb of Denver.  The property will feature 172 units in a four-story, 203,653-square-foot building. Live Oak Bank provided construction financing, and a programmatic institutional equity partner provided equity.  “This is a meaningful project, as it will be our first ground-up development since Headwaters Group’s inception in 2022,” says Ben Burke, managing partner at Headwaters Group. The focal point of the community will be a two-story clubhouse, featuring 9,757 square feet of …

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AcquisitionsNewsOhioSkilled Nursing

Blueprint Brokers Sale of 118-Bed The Oaks of West Kittering in Dayton, Ohio

by Jeff Shaw

DAYTON, Ohio — Blueprint Healthcare Real Estate Advisors has brokered the sale of The Oaks of West Kittering, a skilled nursing facility in Dayton. The community was built in 1973 and features 118 licensed beds. A regional owner-operator sold the property as part of its shift to other asset classes. An owner-operator with a presence in Ohio purchased the facility for an undisclosed price. Connor Doherty and Ryan Kelly led the Blueprint team.

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AcquisitionsIowaNewsOperations

Highmark Senior Living Assumes Management of Edencrest Communities throughout Central Iowa

by Jeff Shaw

WEST DES MOINES, Iowa — Highmark Senior Living, a Hubbell Realty Co. affiliate, has taken over management of a portfolio of Edencrest senior living communities throughout Iowa. Edencrest communities offer studio, one-bedroom and two-bedroom units. Highmark Senior Living manages six communities with more than 290 residents and roughly 235 employees throughout Iowa. Edencrest communities include: Edencrest at Beaverdale, Edencrest at Green Meadows, Edencrest at The Legacy, Edencrest at Riverwoods, Edencrest at Siena Hills, Edencrest at Timberline, and Edencrest at Tuscany.

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ColoradoNewsOperationsPeople

WellAge Appoints Lauren Hart as Executive Director of Jackson Creek in Monument, Colorado

by Jeff Shaw

MONUMENT, Colo. — WellAge has named Lauren Hart as executive director of Jackson Creek Senior Living in Monument. Hart’s career journey includes roles as a business office manager in memory care and assisted living, advancing to human resources director at a skilled nursing facility, and subsequently serving as associate executive director at a Brookdale Senior Living community. Hart received an undergraduate degree in human resource management and an MBA in business administration from the University of Phoenix, graduating in 2022.

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AcquisitionsFinanceFrom The Magazine

Capital Markets Cause Looming Wave of Distress

by Jeff Shaw

As variable-rate loans reach their maturity, higher interest rates are making refinancing difficult — or impossible — and leading to distressed properties hitting the market. By Jeff Shaw The challenge is well known by now. Interest rates saw an unprecedented rise in the last two years. To combat inflation, the Federal Reserve aggressively raised the federal funds rate 11 times from near zero percent in March 2022 to a target range of 5.25 to 5.5 percent as of mid-January, leading to higher borrowing costs across the board in the seniors …

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From The Magazine

Owners Cope with Soaring Property Insurance Costs

by Jeff Shaw

Prices are just beginning to stabilize after a 2022 wracked with catastrophes led to unprecedented rate increases. By Jeff Shaw As if things weren’t challenging enough for senior living owners… Expense increases have been a major contributor to shrinking profit margins in the seniors housing space since the COVID-19 pandemic struck in 2020. Whether it’s due to increased labor costs or rising construction costs, it seems like the “L” portion of the P&L keeps growing. We’ll add property insurance premiums to that list — 2022 was a devastating year for …

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DevelopmentIndustry Voices

The SHB Interview: Andy Kohlberg, Founder and CEO, Kisco Senior Living

by Jeff Shaw

Former tennis star turns into one of the biggest owners and operators in seniors housing. By Jeff Shaw It would be a massive understatement to describe Andy Kohlberg’s resume as “unusual.” It’s also very short: • Professional tennis player, 1979 to 1988 (final record of 90-100, including one doubles tournament win. His highest ranking was 142nd in February of 1986) • CEO and co-founder, Kisco Senior Living, 1990 to present • Vice chairman, Phoenix Suns, 1994 to present Taking a year off after retiring from tennis at the age of …

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Industry VoicesOperations

Stronger Teams Deliver Better Resident Care

by Jeff Shaw

By Kenneth Gibson and Lindsay Potter Ask executive directors of senior living communities across the country about their biggest challenges and virtually all of them will mention building and retaining strong teams.  A community’s staff is the foundation of our ability to serve residents and their loved ones with the care and compassion that they deserve. Without an effective team, senior living communities won’t reach their potential and could even become mired in dysfunction.  When we were honored to be named the top senior living executive directors in our respective …

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Industry Voices

Evolving Demographics: A Deep Dive into the Shifting Senior Living Landscape

by Jeff Shaw

By Danette Opaczewski As the senior living landscape undergoes transformative changes, one notable trend stands out: the shifting demographics in seniors housing.  On a national level, the U.S. Census Bureau national population predictions project the country’s population trends through 2100. Overall, the Census Bureau forecasts that older adults will make up a larger portion of the population in the coming years, with a median age expected to increase from 38.9 years in 2022 to 47.9 years in 2100.  Zooming into the senior demographic specifically, the percentage of the population age …

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AcquisitionsIndustry Voices

Question of the Month: Opportunity from Distress

by Jeff Shaw

To what extent will there be opportunities to acquire distressed assets in 2024, and what will be the factors? Defaults may be coming By Cindy Hazzard Broker/President JCH Senior Housing Investment Brokerage The failing debt-coverage ratios due to rising expenses, without equivalent resident rate adjustments, may push lenders to enforce loan covenants. This would trigger defaults for many owners, creating a surge in distressed properties.  If pursued, the focus shifts to what discount lenders might accept to cleanse their books, creating prime opportunities for cash-ready buyers. The market could see …

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