CULVER CITY, Calif.; NORTH ATTELBORO, Mass.; EAST CANTON, Ohio; and VERO BEACH, Fla. — BWE has arranged four financing transactions totaling over $26 million to refinance, build and preserve four seniors and affordable housing properties. In the first transaction, BWE arranged an $11 million refinancing for Palm Court Senior Independent Living in Culver City. The property is a 99-unit, age-restricted apartment complex. Max Sauerman originated the loan on behalf of Goldrich and Kest. The apartment building was completed in 1991. In the second transaction, BWE arranged a $13.2 million acquisition …
IRVINE, Calif. — Sabra Health Care REIT Inc. (NASDAQ: SBRA) has appointed Jessica Flores as executive vice president, chief accounting officer and principal accounting officer. Flores currently serves as Sabra’s senior vice president — finance and controller, a position she has held since January 2022. She joined Sabra in March 2011 and held various leadership positions overseeing Sabra’s accounting during that time. Flores has over 15 years of experience in accounting, finance and real estate investments, having previously worked for KBS Realty Advisors and Deloitte & Touche LLP. Flores graduated …
NORTHVILLE, Mich. — Resort Lifestyle Communities has opened Willow Pines, an independent living community in Northville, approximately 25 miles northwest of Detroit. Willow Pines offers 128 apartments in studio, one-, two- and three-bedroom options. Resort Lifestyle Communities, founded in 2001 and based in Lincoln, Nebraska, develops all-inclusive, resort-style communities for adults age 55 and over.
NASHVILLE, Tenn. — Brookdale Senior Living Inc. (NYSE: BKD), the massive, Nashville-based seniors housing operator, has completed two transactions that refinanced all of its remaining 2024 debt maturities. After giving effect to these transactions, the company’s next debt maturity without extension options is September 2025. The company has also made significant progress on a financing transaction involving 11 of its currently unencumbered owned communities, which it expects to complete in the coming months. Additionally, in December, the company sold its remaining 20 percent equity interest in its Health Care Services …
SPARKS, Nev., and HARROGATE, Tenn. — The Ensign Group Inc. (Nasdaq: ENSG) has acquired the operations of Hearthstone Health and Rehabilitation, a 125-bed skilled nursing facility located in Sparks, and TriState Health and Rehabilitation Center, a 116-bed skilled nursing facility located in Harrogate. Ensign will operate both properties under an long-term, triple-net lease. These acquisitions bring Ensign’s growing portfolio to 299 healthcare operations, 27 of which also include senior living operations, across 14 states. Ensign subsidiaries, including Standard Bearer, own 113 real estate assets.
DES MOINES, Iowa — LCS, the nation’s third-largest senior living provider, has promoted Ross Kelderman to controller to oversee and provide leadership to the Des Moines-based organization’s corporate accounting, financial reporting, audits and finance technology. Kelderman joined the company in 2015 as director, accounting and financial reporting, and was promoted to senior director of accounting and reporting in 2020. Kelderman holds both a bachelor’s and master’s degree in accounting from Iowa State University. He is also a certified public accountant with an active license in the state of Iowa. LCS …
After years of moderate fluctuation, seniors housing capitalization rates have curved sharply upward in the last year, investors within the industry say. That’s according to CBRE’s most recent edition of its U.S. Senior Housing & Care Investor Survey. This 13th edition of CBRE’s survey, conducted in October 2023, polled the same group of seniors housing real estate professionals and investors as its last survey in April and had a 98 percent response rate. While the April survey focused largely on changing market conditions caused by inflation and staffing shortages, the October …
DALLAS — Evans Senior Investments (ESI) has arranged the sale of Crystal Creek at Preston Hollow. Built in 2001 with a 2018 renovation, Crystal Creek is located just north of downtown Dallas. The community features 119 beds, offering a range of care levels, including assisted living, memory care and long-term care. At the time of marketing, occupancy in both the senior living and skilled nursing was rapidly declining. Due to the skilled nursing component not being licensed to accept Medicaid, the community experienced negative operating margins. A regional owner-operator sold …
SEATTLE — Veda Living has taken over management of Emerald City Senior Living in Seattle, the company’s 14th community. The community is a 119-unit, multistory, private-pay community nestled near a highly sought-after residential area in west Seattle. It is positioned to serve middle-market seniors.
WEST LINN, Ore. — Anthem Memory Care, a West Linn-based owner-operator, has promoted Michael Zywicki to vice president of programs and engagement. He will oversee Anthem Memory Care’s culture. Previously, Zywicki was operations specialist for Anthem Memory Care. He also served as area director of operations at Cedarhurst Senior Living of Michigan. Zywicki brings over 18 years of operations experience to this position. He holds a bachelor’s degree in healthcare administration from Alma College in Alma, Michigan.