Many appraisal districts across the country will re-start the appraisal process on all properties in their respective locations at the start of the new year. A vast majority of these appraisers are trained to value the most common property types in their jurisdictions such as office, multi-family, retail, etc.; however, the seniors living valuation methodologies are not part of the appraisal district’s strong suit. Inaccurate property valuations result when districts are unfamiliar with the senior housing market overall. The more services offered at these facilities unrelated to real estate often …
SEBASTIAN, Fla. — Watercrest Senior Living Group, Walker & Company construction, MBV Engineering and Sebastian city officials have broken ground for Pelican Landing Assisted Living and Memory Care in Sebastian. Watercrest — the developer, owner and operator of the 65,000-square-foot, 89-unit senior living community — plans to open the building to residents in the spring of 2016.
JOHNSON CITY, Tenn. — Dominion Senior Living, in preparation for the April opening of the company’s Johnson City assisted living and memory care community, has named Michelle Bolling executive director of the facility.
TOLEDO, Ohio — Health Care REIT Inc. (NYSE:HCN) has added Colin Catherwood as vice president – investments, Canada. Catherwood will lead HCN’s new office in Toronto, Ontario. He is responsible for managing the company’s Canadian portfolio and identifying and managing growth opportunities in Canada.
COPPERAS COVE, HARKER HEIGHTS and KILLEEN, TEXAS — KeyBank Real Estate Capital has arranged a total of $26.7 million in FHA financing for a three-property, long-term care portfolio in Texas. Two of the properties are skilled nursing facilities and one is a combination skilled nursing and assisted living facility.
BRIDGEWATER, N.J. — The American Health Care Association and National Center for Assisted Living (AHCA/NCAL) have recognized Avalon Assisted Living at Bridgewater with a National Quality Award. The assisted living facility is one of only four NCAL members in the country to receive the award.
HUNT VALLEY, Md. — Omega Healthcare Investors Inc. (NYSE:OHI) has priced a private offering of $700 million aggregate principal amount of 4.50 percent senior notes due 2027 at 98.546 percent of face value. The offering is expected to close on March 18, subject to customary closing conditions.
By Nellie Day Technological advancements in healthcare and daily living are having a profound impact on the seniors housing industry but not without some growing pains, panelists asserted at InterFace’s Seniors Housing West conference, held Feb. 26 at the Omni Hotel in Los Angeles.
GLEN ELLYN, Ill. — Senior Living Investment Brokerage has brokered the sale of a five-community portfolio — four in South Carolina and one in Florida — for a purchase price of $29 million.
CHICAGO — Ventas Inc. (NYSE: VTR), a leading real estate investment trust (REIT) with 1,600 seniors housing communities and other medical facilities in the United States, Canada and United Kingdom, has hired Timothy Sanders as a senior investment officer and promoted three of its existing employees.