Author

Jeff Shaw

CCRCNewsPeople

Life Care Services Promotes Kyle Exline to Director of Operations Management

by Jeff Shaw

DES MOINES, Iowa — Life Care Services, An LCS Company, has promoted Kyle Exline to the role of senior vice president, director of operations management for life plan communities.  Exline started his career with Des Moines-based LCS in 2008 and has impacted occupancy, operations improvement, development and building strong teams over his 15-year tenure. Along the way, he gained experience in for-profit, nonprofit, LCS-owned, LCS-managed and rental communities.   Exline will assume responsibility for the strategy and operations of 18 LCS equity-owned life plan communities and will oversee a team of …

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DevelopmentNewsVirginia

Hoffman, ESL to Develop 15-Story Seniors Housing Project at West Falls Development in Northern Virginia

by Jeff Shaw

FALLS CHURCH, VA. — Hoffman & Associates and Experience Senior Living (ESL) plan to co-develop The Reserve at Falls Church, a 15-story seniors housing project within the 10-acre West Falls mixed-use development underway in Northern Virginia.  The Reserve will feature more than 200 units of independent living, assisted living and memory care. Amenities will include a spa with a saltwater pool and fitness center, multiple onsite restaurants, a sky bar, maker space, concierge floors and electric vehicle transportation services.  Aside from the seniors housing component, West Falls will feature apartments, …

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AcquisitionsActive AdultNew YorkNews

CBRE Brokers Sale of 200-Unit Active Adult Complex on Long Island

by Jeff Shaw

DEER PARK, N.Y. — CBRE has brokered the sale of Sutton Landing at Deer Park, a 200-unit active adult complex on Long Island.  The age-restricted property was built in 2021.  Aron Will, John Sweeny and Scott Bray of CBRE represented the seller, a partnership between local developer B2K Development and Chicago-based investment firm Harrison Street. Shawn Rosenthal, Jason Gaccione, Jake Salkovitz, Aron Will, Matthew Kuronen and Michael Cregan of CBRE originated Freddie Mac acquisition financing on behalf of the buyer, Fairfield Properties.

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AcquisitionsAssisted LivingIndianaNews

Blueprint Arranges Sale of Three Communities in Indiana

by Jeff Shaw

ELKHARD, KOKOMO and MADISON, Ind. — Blueprint has arranged the sale of three assisted living communities in Indiana. The communities were built in the late 1990s in Elkhart, Kokomo and Madison, and historically struggled operationally. The buyer plans to reposition the assets as the premier affordable option in their respective markets by utilizing the Indiana Assisted Living Waiver Program. The buyer, seller and price were not disclosed. Connor Doherty, Ryan Kelly, Amy Sitzman and Giancarlo Riso led the Blueprint team.

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FeaturesNews

Cushman & Wakefield Survey: Seniors Housing Performance Continues to Improve, but Valuations Undergo Stress

by Jeff Shaw

CHICAGO — Cushman & Wakefield has released its U.S. Senior Living & Care Investor Survey and Trends Report, indicating continued strong performance of the seniors housing asset class with stabilized occupancy trending upward for the 10th consecutive quarter, reaching 85 percent for primary markets and 87 percent for secondary markets.  Moving forward, the Northeast markets are projected to show the strongest near-term performance while the Southwest and Southeast markets are anticipated to experience downward pressure on occupancy and rent growth as new supply is introduced. Construction starts have receded to …

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CCRCDevelopmentIndependent LivingNewsPennsylvania

Spellman Brady & Completes Interior Design for Friendship Village of Tempe Expansion

by Jeff Shaw

TEMPE, Ariz. — Spellman Brady & Co. (SBC) has completed the interior design for a new five-story, 64-unit independent living building for Friendship Village of Tempe.  SBC was responsible for selecting the interior finishes, as well as the selection and procurement of the furnishings and artwork.  The crowning highlight of the 142,619-square-foot building is the rooftop destination restaurant and brew house called Starfire. SBC collaborated with architecture firm Ryan A+E Inc. and general contractor Ryan Cos. US Inc. LCS Development, An LCS Company is the developer. Friendship Village of Tempe …

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NewsPennsylvaniaPeople

LCB Names Ashley Russo as Executive Director of The Residence at Bala Cynwyd

by Jeff Shaw

BALA CYNWYD, Penn. — LCB Senior Living has named Ashley Russo as executive director of The Residence at Bala Cynwyd, an assisted living and memory care community in the Philadelphia suburb of Bala Cynwyd. Russo holds master’s degrees in gerontology and health administration from the University of Southern California, as well as a bachelor’s degree in communications from Rider University. She is a Certified Assisted Living Administrator, a Certified Dementia Practitioner, and is pursuing a license as a Personal Care Home Administrator. Russo has 15 years’ experience in the senior …

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FeaturesFinanceNews

Lending Community Adjusts to New Reality in Debt Market, Say NIC Panelists

by Jeff Shaw

CHICAGO — For veteran lender Aaron Becker, it feels as if the seniors housing industry is working through the five stages of grief in response to the “incredible change” in interest rates since March 2022. “We haven’t seen this in 40 years,” says Becker, senior managing director and head of seniors housing and healthcare production at Lument. He’s referring, of course, to a string of 11 increases in the federal funds rate beginning in March 2022. To combat inflation, the Federal Reserve has aggressively raised the fed funds rate from …

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AcquisitionsMassachusettsNewsSkilled Nursing

Blueprint Negotiates Sale of 53-Bed Skilled Nursing Facility in Boston for Apartment Conversion

by Jeff Shaw

BOSTON — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 53-bed skilled nursing facility in Boston. The asset was originally constructed in 1960 and located just south of downtown. The building was well maintained, according to Blueprint, and spans over 18,000 square feet and a variety of unit configurations, along with close proximity to several large mixed-used developments and regional hospitals. The buyer was a family office that intends to convert the property into multifamily apartments. Details on the seller and price were not disclosed. Kyle Hallion …

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Memory CareNewsPeople

Anthem Memory Care Promotes Jennifer Boonstra to Management Team

by Jeff Shaw

LAKE OSWEGO, Ore. — Anthem Memory Care, a Lake Oswego-based owner-operator, has promoted Jennifer Boonstra to its management team.  Boonstra has been named senior life engagement director. In this position, she will provide training, education and support for the life engagement teams at 16 communities.  In addition to this position, Boonstra continues as life engagement director for Porter Place in Tinley Park, Illinois. Prior to this, she was the memory care life engagement director at Senior Star at Weber Place, now called Story Point of Romeoville, Illinois. The recreation therapist …

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