Author

Jeff Shaw

Industry Voices

The SHB Interview: Traci Taylor-Roberts, CEO/President, Sodalis Senior Living

by Jeff Shaw

By Jeff Shaw When Traci Taylor-Roberts took the reins at Sodalis Senior Living in 2020, her goal was to grow the company. And grow it did. During her first two years at the helm, the operator went from nine communities in Texas to 24 across Texas, Florida and Georgia. The company has been on the Inc. magazine list of the 5,000 fastest growing companies list for two years running. Companies on the 2023 Inc. 5000 are ranked by percentage revenue growth from 2019 to 2022, according to the magazine. “This …

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AcquisitionsIndustry Voices

Broker Q&A: Dealmakers Accept the Challenge

by Jeff Shaw

Roundtable participants Alex Florea, Managing Director, Blueprint Healthcare Real Estate Advisors Ross Sanders, Managing Director, Investment Sales, Berkadia Senior Housing & Healthcare Ryan Saul, Managing Director, Senior Living Investment Brokerage John Sweeny Jr., Co-Head National Senior Housing, CBRE Jay Jordan & David Kliewer, Grandbridge Real Estate Capital Cindy Hazzard, PresidentJCH Senior Housing Investment Brokerage Ken Carriero, Senior Vice President, Colliers Bill & Madison Meiser, CEO, COO, WMRG Real Estate Andrew Wittenauer, Senior Associate, Helios Healthcare Advisors By Jeff Shaw We all know the factors by now that are slowing transaction …

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AcquisitionsIndustry Voices

Question of the Month: The Bid-Ask Gap

by Jeff Shaw

Are you seeing a narrowing of the bid-ask gap or indications that the investment market is thawing? Stabilization is coming By John Sweeny Co-Head, National Senior Housing CBRE We are seeing the early stages of a narrowing of the bid-ask spread as the consensus view is forecasting higher benchmark rates for longer (there’s no pending Fed cut in the short term), as owners think through decisions surrounding debt maturities or expiring caps, fund maturities or their time value of money calculus.  We expect pricing for the balance of the year …

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FeaturesNews

Economic Pressures, Technology Complicate Industry Outlook, Says Power Panel of Experts

by Jeff Shaw

CHICAGO — Headwinds and tailwinds are driving the senior living business in a new direction. Owners and operators are bullish on the long-term prospects for the industry, but they still grapple with the aftereffects of a punishing pandemic and the struggle to regain healthy operating margins. Demand is strong and expected to only improve as baby boomers age. However, expenses, including wages, continue to rise. Rents are higher, but so are interest rates, compressing valuations. On the plus side, innovative technology and new revenue streams could help boost profit margins.  …

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AcquisitionsAssisted LivingMinnesotaNews

Vista Prairie Communities Acquires Two Ridgeway Properties in New Ulm, Minnesota

by Jeff Shaw

NEW ULM, Minn. ­— Ridgeway Senior Living and Vista Prairie Communities have completed the transition of ownership for both HADC Ridgeway senior communities located in New Ulm, approximately 90 miles southwest of Minneapolis.  The two properties, Ridgeway on German and Ridgeway on 23rd, provide assisted living and memory care services in 116 apartments. Housing Alternatives Development Corp. (HADC) and Vista Prairie Communities (VPC), both Minnesota-based nonprofits, completed the ownership transition effective Sept. 30. Vista Prairie Communities, ranked in the nation’s 200 largest nonprofit senior living multi-sites, will now own 10 …

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AcquisitionsCCRCFloridaNews

Acts Completes Affiliation with Nine-Story Mease Life CCRC in Dunedin, Florida

by Jeff Shaw

DUNEDIN, Fla. — Acts Retirement-Life Communities has completed its previously announced affiliation with Mease Life, a nonprofit continuing care retirement community (CCRC) in the coastal Tampa suburb of Dunedin. Under the affiliation agreement, Mease Life has become an Acts affiliate member and part of its network of 27 CCRCs in nine states across the east coast. Rising nine stories, Mease Life is home to approximately 350 residents and includes a mix of independent living, assisted living, skilled nursing and other specialty care services. Acts is currently the nation’s fourth largest …

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Assisted LivingDevelopmentMissouriNews

IMPACT Strategies Opens 83-Unit Newbridge Retirement Community in Cape Girardeau, Missouri

by Jeff Shaw

CAPE GIRARDEAU, Mo. — IMPACT Strategies has completed construction of Newbridge Retirement Community, a senior living facility in Cape Girardeau, located along the Mississippi River approximately midway between St. Louis and Memphis. The 75,000-square-foot luxury retirement community features 83 units of assisted living and memory care Project partners included Vessel Architecture, Bowen Engineering & Surveying and SSC Engineering.

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ArkansasMemory CareNewsOperations

Anthem Memory Care Assumes Management of Pinnacle Place in Little Rock, Arkansas

by Jeff Shaw

LITTLE ROCK, Ark. — Anthem Memory Care has assumed management of Pinnacle Place Memory Care, formerly known as Avenir of Little Rock.  Under the agreement, Anthem Memory Care now manages all aspects of the community’s operations and will add regional staff, technology and training programs to adapt the community to its approach to care. The new property, located in Little Rock, brings Anthem’s portfolio up to 20 properties and marks the Oregon-based operator’s entry into Arkansas.

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CCRCDevelopmentMinnesotaNews

Kraus-Anderson Completes $91.8M Expansion at Friendship Village in Bloomington, Minnesota

by Jeff Shaw

BLOOMINGTON, Minn. — Kraus-Anderson (KA) has completed a $91.8 million expansion of Friendship Village, a senior living campus located in Bloomington. Lifespace Communities is the property owner. SAS Architects and Planners designed the 380,294-square-foot project, which adds a five-story independent living and assisted living building with 93 apartments. The expansion also features a three-story skilled nursing building and three-story health center with a physical and occupational therapy gym and memory care suites. Construction began in August 2019. Lifespace plans to open the new areas in November.

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AcquisitionsNewsOregon

Blueprint Brokers Sale of Five Communities in Oregon

by Jeff Shaw

OREGON — Blueprint Healthcare Real Estate Advisors has arranged the sale of five independent living, assisted living and memory care communities in Oregon. The portfolio consists of 468 total units with communities built in the 1980s and 1990s. The portfolio generated approximately $4.8 million in EBITDAR in 2022. The buyer was Arcus Healthcare Partners, which also assumed the existing Freddie Mac loan and current operator. The seller and price were not disclosed. The Blueprint team included Dan Mahoney, Michael Segal and Ben Firestone.

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