Author

Jeff Shaw

AcquisitionsNews

Welltower Acquires 12 Cogir Communities in Canada for $639M

by Jeff Shaw

MONTREAL and QUEBEC CITY — Welltower (NYSE: WELL), the largest seniors housing owner in the United States, has acquired 12 communities totaling 4,173 units in the Quebec province of Canada.  The price was CA$885 million, which equates to US$639.2 million based on this morning’s exchange rate. Welltower says the price is a more than 40 percent discount to replacement cost. The communities are an average of eight years old and are highly concentrated in the province’s two major markets of Montreal and Quebec City. Cogir, a current Welltower partner and …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsCompany NewsNews

Healthpeak Properties, Physicians Realty Trust Agree to $21B Merger

by Jeff Shaw

DENVER AND MILWAUKEE — Two healthcare REITs, Denver-based Healthpeak Properties (NYSE: PEAK) and Milwaukee-based Physicians Realty Trust (NYSE: DOC), have agreed to enter into an all-stock merger agreement that is valued at roughly $21 billion. Under the terms of the agreement, each share of Physicians Realty Trust common stock will be converted into 0.674 of a share of newly issued Healthpeak common stock. The combined entity will feature a portfolio of roughly 52 million square feet of healthcare assets. On a pro-forma basis, Healthpeak and Physicians Realty Trust shareholders will …

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentFinanceKeyBankNewsOhio

KeyBank Provides $11.4M Construction Financing for Garrett Square Apartments in Cleveland

by Jeff Shaw

CLEVELAND — KeyBank Community Development Lending and Investment (CDLI) has provided $11.3 million for 9 percent tax credit equity to finance the construction of Garrett Square Apartments, a 49-unit affordable seniors housing project located in the Glenville neighborhood of Cleveland.  KeyBank will provide a $9 million construction loan and a $2.3 million permanent loan. Additional permanent financing sources include secondary soft loans of $1.7 million provided through the City of Cleveland’s American Rescue Plan Act, $900,000 from City Home, and $450,000 from the County ERA fund. Garrett Square will be …

Continue Reading
0 FacebookTwitterLinkedinEmail
NewsPeopleTexas

Buckner Names Amy Shields as Executive Director of Parkway Place in Houston  

by Jeff Shaw

HOUSTON — Buckner Retirement Services has named Amy Shields as executive director for Parkway Place, a seniors housing community in Houston. Shields has spent the entirety of her 25-year career in senior living serving in the Houston area. Most recently, she held the position of CEO at St. Dominic Village, where she was responsible for the overall operations of the continuing care community. Prior to that, she served as the licensed facility administrator for Sava Senior Care for 14 years.  Shields also holds a bachelor’s degree in social work from …

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceNewsTexas

JLL Arranges $28M Refinancing for The Landing at Augusta Woods in Spring, Texas

by Jeff Shaw

SPRING, Texas — JLL Capital Markets has arranged a $28 million senior mortgage for The Landing at Augusta Woods, a 148-unit seniors housing community in Spring. JLL represented Harmony Communities to secure the four-year, fixed-to-floating-rate loan from a life insurance company to refinance an existing construction loan and fund additional expansion of the community. The community comprises a 120-unit apartment-style complex that provides independent living, assisted living and memory care, and 28 to-be-built independent living duplex-style cottage units. Spring is located just outside of The Woodlands, which is one of …

Continue Reading
0 FacebookTwitterLinkedinEmail
Assisted LivingFeaturesNews

Research Report: Assisted Living Market to Grow Over 5% Per Year Through 2029

by Jeff Shaw

DUBLIN — The U.S. assisted living market is experiencing robust growth, driven by several factors including the increasing number of baby boomers, a rising aging population, higher healthcare expenditure, and a growing preference for independent living. The market is currently characterized by substantial activity, with a promising outlook for the future. A recent report from ResearchAndMarkets.com valued the U.S. assisted living market at $97.6 billion in 2022 and predicted it will reach $133.4 billion by 2029 with a compound annual growth rate (CAGR) of 5.35 percent. The report — titled …

Continue Reading
0 FacebookTwitterLinkedinEmail
CCRCDevelopmentGeorgiaIndependent LivingNews

Canterbury Court in Atlanta Expands With New Independent Living Tower, Seniors Housing Hub

by Jeff Shaw

ATLANTA — Canterbury Court, a continuing care retirement community in Atlanta’s Buckhead district, has doubled in size with its new expansion. The property now includes two new additions: The Garden Tower, a high-rise that features 105 independent living apartments and a ground-level restaurant, and Monarch Pavilion, a four-story building that offers seniors housing units, amenities and services in a neighborhood setting. Monarch Pavilion comprises Azalea View, a new assisted living community; Wisteria Park, a memory care destination centered around a courtyard garden; and Sage Glen, a skilled nursing neighborhood that …

Continue Reading
1 FacebookTwitterLinkedinEmail
Company NewsFeaturesMemory CareNews

Judge Dismisses All Charges Against Silverado, CEO Shook

by Jeff Shaw

LOS ANGELES — A Los Angeles County judge has dismissed all charges against memory care giant Silverado, as well as its CEO Loren Shook and two other executives. Los Angeles County District Attorney George Gascón brought the charges in March, and they were related to 14 COVID-related deaths at Silverado communities. The complaint claimed that Silverado hadn’t followed proper clinical protocols when admitting a resident in March 2020, which lead to an outbreak at one of the operator’s facilities. The charges were shocking at the time they were brought — …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsCaliforniaFinanceNewsSkilled Nursing

CFG Funds $30.3M Acquisition Loan for Skilled Nursing Portfolio in California

by Jeff Shaw

CALIFORNIA — Capital Funding Group (CFG) has provided a $30.3 million loan for the acquisition of three skilled nursing facilities.  The facilities, which are located in California, support 396 beds. The buyer was identified only as “a nationally recognized borrower.” The transaction marks one of the first acquisitions since the inception of a new approval process with the California Attorney General. Under the new state law, any transaction involving the sale or transfer of control of a nonprofit healthcare facility is required to secure the approval of the attorney general. …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAssisted LivingNewsOperationsTennessee

Distinctive Living Takes Over Operations of The Village at Bellevue in Nashville

by Jeff Shaw

NASHVILLE, Tenn. — Distinctive Living has assumed management of The Village at Bellevue, an assisted living and memory care community in Nashville. The community features 69 units, including an 18-bed secured memory care neighborhood. New Jersey-based Distinctive Living currently operates 26 communities and has 20 under development via its development services platform (Distinctive Living Development LLC).

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts