AUSTIN and DALLAS, Texas — Newmark has hired Chris McColpin and Andrew Porteous as senior managing directors specializing in debt, equity and structured finance services within the firm’s capital markets practice. Based in Austin and Dallas, respectively, McColpin and Porteous will join director Josh Francis to lead the commercial debt efforts in Texas while working closely with Newmark’s industrial, office and multifamily capital markets professionals. They will report to Ran Holman, executive vice president and Texas market leader. Prior to joining Newmark, McColpin served as a managing director of JLL …
With baby boomers now aging into seniors housing in staggering numbers, how does the industry best serve this new generation of prospective residents? By Jeff Shaw For decades now, developers have been building up for a massive demographic wave of baby boomers aging into seniors housing. We’ve all heard the numbers: 10,000 Americans will turn 80 every day starting in 2025. By 2030, all 73 million boomers will be of retirement age. The wave was nicknamed the silver tsunami. With the first baby boomers turning 78 next year, the generation …
While some owners see opportunities in converting obsolete seniors housing into behavioral health facilities, others look for ways to improve those services within their communities. By Jeff Shaw Seniors housing and behavioral health real estate have a lot in common. Both house people with a largely needs-based offering. There are a wide range of products to serve a variety of needs, and residents are sometimes not there by choice. Both sectors also have favorable demographics and strong real estate fundamentals on their side with demand outpacing supply. Behavioral health real …
By Matt Valley More than 75 percent of investors surveyed by CBRE expect rental rate increases of at least 3 percent over the next 12 months across all seniors housing asset classes except skilled nursing. The most bullish outlook is in the assisted living sector where 28.1 percent of survey respondents expect to underwrite rent growth above 7 percent, up from 15 percent in the 2022 survey. No decreases in rental rates are expected for any asset class. Meanwhile, difficulty in maintaining adequate staffing levels ranks as the greatest headwind …
Developers rethink strategies to manage larger economic headwinds. By Dan King With today’s soaring construction costs, rising inflation and endless supply chain disruptions, developers are more mindful than ever before about project design, efficiency and affordability in senior living. In our current economic landscape, developers are rethinking everything from room sizes to how they use shared spaces to solve some of the biggest problems currently facing construction and design. To keep senior living projects moving forward through a down economic cycle, we as architects and designers are constantly working with …
Young gun works his way up from dining room server to executive, winning an Argentum Senior Living Community Leadership Award along the way. By Jeff Shaw Edwin Funes started young, but you could’ve guessed that by the fact that he’s a 35-year-old taking on a regional director role for The Arbor Company. Arbor operates 45 communities in the Southeast, Northeast, Midwest and Texas. In his new role, Funes oversees seven of the Mid-Atlantic properties as regional vice president of resident care. He earned the promotion soon after winning the 2023 …
WESTERVILLE, Ohio — Ziegler has arranged $59.9 million in bond financing for Ohio Living, a Westerville-based nonprofit operator of 12 seniors housing communities in Ohio. Bond proceeds will be used to refund existing bank debt, terminate an interest rate swap agreement, fund a debt-service reserve fund equal to approximately one year of debt service, fund approximately $3 million of capital expenditures and pay certain costs of issuance associated with the financing. The bonds consist of tax-exempt, fixed-rate serial and term bonds with an 18-year final maturity. The financing includes a …
FORT COLLINS, Colo. — Evans Senior Investments (ESI) has arranged the sale of a skilled nursing facility in Fort Collins for $7.6 million. The seller was an independent owner-operator. Although the number of beds was not released, the per-bed price of $79,166 equates to 96 beds. Initially built in 1968, the seller owned and operated the community for nearly two decades, achieving a four-star CMS rating. However, being its only skilled nursing facility, the company faced the challenges of today’s operating environment and lacked economies of scale. Upon marketing, the …
ARDMORE, Pa. — Meyer, an Ardmore-based architecture and design firm that works in seniors housing, has launched a new brand identity and website. Meyer’s commitment to its next stage is reflected in the firm’s renewed mission, “to create possibilities for people to be and belong.” The firm’s portfolio spans corporate, senior living, multifamily, active adult, life sciences, higher education and healthcare markets nationwide. In February 2020, Meyer announced the promotion of Alicia Karr from CFO to president. In her previous role, Karr led the transition of the company from privately …
NEW YORK CITY — Newmark has hired John Ward as vice chairman of its multifamily capital markets group. Based in New York, Ward specializes in the origination of debt products for multifamily and other commercial assets nationwide, including Fannie Mae, Freddie Mac, FHA/HUD, CMBS, life company, banks, preferred equity/mezzanine and bridge loan executions. With more than three decades of commercial real estate development, valuation and debt origination experience, Ward has placed and structured over $15 billion in capital through varying executions and capital structures for an array of property types. …