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Webinar: Modernizing Seniors Housing Care — Simplifying Workflows for Caregivers through Technology

by Sarah Daniels

  On Sept. 8, Seniors Housing Business hosted a panel discussion called “Modernizing Seniors Housing Care — Simplifying Workflows for Caregivers through Technology” where four seniors housing industry experts spoke about streamlining and improving resident care. Tech innovations were the focus of the webinar. What tools and data help most when it comes to senior care? Listen to hear in-depth discussions on the topics and more: The latest trends in technology-enabled senior care How technology can help simplify workflows and increase productivity The importance of machine learning to drive more proactive …

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Assisted LivingFinanceFloridaNews

VIUM Provides $7.7M Refinancing for 50-Bed Community in Florida

by Jeff Shaw

FLORIDA — VIUM Capital has provided $7.7 million in bridge-to-HUD financing for 428 Healthcare. The funds refinance existing debt on a 50-bed assisted living community in Florida. The borrower acquired the property in 2019 and was looking for a cash-out refinancing. Further details were not disclosed.

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Assisted LivingNewsOperationsVirginia

Watercrest Hires Marsha Sottung as Executive Director of Community in Moseley, Virginia

by Jeff Shaw

MOSELEY, Va. — Watercrest Senior Living Group has hired Marsha Sottung as executive director of Watercrest Richmond Assisted Living and Memory Care in Moseley. Watercrest Richmond is currently under construction and preparing to welcome residents this fall to the 98-unit luxury senior living community. Sottung was the youngest assisted living administrator in the state of New York at the age of 21. For the past 30 years, she has served in various roles as a certified nursing aide, operations director and regional manager.

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AcquisitionsAssisted LivingNewsSkilled NursingTexas

Blueprint Negotiates Sale of 106-Unit Vacant Community in Waco, Texas

by Jeff Shaw

WACO, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 106-unit assisted living and transitional car facility in Waco. Mainstreet developed the asset in 2015 and it was briefly operational before the property was foreclosed on and left vacant. Situated on 6.7 acres of land within the new, 150-acre mixed used development Legends Crossing, the facility is located adjacent to Baylor Scott & White Medical Center. The buyer was a Texas-based joint venture between Zelevie Health and Skywalker Property Partners. This is the joint venture’s first …

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ArizonaAssisted LivingDevelopmentNews

Vista Living Completes 10,000 SF Community in Paradise Valley, Arizona

by Jeff Shaw

PARADISE VALLEY, Ariz. — Vista Living Senior Care Inc. has opened its newest assisted living home in Paradise Valley, a northeastern suburb of Phoenix. The 10,000-square-foot property is Vista’s fourth in the Phoenix metro. The number of units was not disclosed. “We believe that the Paradise Valley market is undersupplied,” says Vista Living CEO Brett Weisel.

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AcquisitionsAlabamaAssisted LivingNews

SLIB Arranges Sale of Assisted Living Community in Madison, Alabama

by Jeff Shaw

MADISON, Ala. — Senior Living Investment Brokerage (SLIB) has arranged the sale of an assisted living and memory care community in Madison, a suburb of Huntsville. A local ownership group of physicians that originally developed the asset was the seller. The building was not fully stabilized with respect to rental rates or expenses, but was near full occupancy at the close of escrow according to SLIB. The buyer, an Alabama-based owner-operator, plans to stabilize the asset and hold it over the long term. Brad Clousing and Daniel Geraghty led the …

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AcquisitionsAlabamaAssisted LivingNews

SLIB Negotiates Sale of 46-Unit Heritage Assisted Living in Madison, Alabama

by Jeff Shaw

MADISON, Ala. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Heritage Assisted Living and Memory Care, a 46-unit seniors housing community. Located in Madison, a western suburb of Huntsville, the community is in a growing residential, medical and commercial corridor. The units are split as 30 for assisted living and 16 for memory care on a 4.9-acre site. The seller was a local ownership group of physicians who had originally developed the asset. The building was not fully stabilized regarding rental rates or expenses, but was near …

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AcquisitionsAssisted LivingMichiganNews

ESI Arranges Sale of Two Senior Living Communities in Michigan for $38.3M

by Jeff Shaw

DETROIT — Evans Senior Investments (ESI) has arranged the sale of two assisted living and memory care communities in the northern suburbs of Detroit. A regional owner-operator sold the assets to an operator looking to expand into Michigan for $38.3 million, or $314,000 per unit. With each community being built between 2019 and 2020, the properties were smaller in size, with fewer than 65 units at each community. This allowed for above-average performance during the COVID-19 pandemic. At the time of marketing the portfolio was 88 percent occupied and boasted …

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AcquisitionsAssisted LivingMichiganNews

Commonwealth Acquires Three-Property Portfolio in Michigan

by Jeff Shaw

NEW BALTIMORE and GRAND RAPIDS, Mich. — Commonwealth Senior Living has entered the Michigan market with the acquisition of three newly renovated senior living communities. The properties include Prestige Commons in New Baltimore, and Addington Place at Grand Rapids and Addington Place at East Paris in Grand Rapids. The communities will be rebranded as Commonwealth Senior Living at New Baltimore, Commonwealth Senior Living at Grand Rapids and Commonwealth Senior Living at East Paris, respectively. Commonwealth Senior Living at New Baltimore is wrapping up a $6.5 million complete renovation of the …

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Assisted LivingCaliforniaFinanceNews

CFG Provides $18M Refinancing for Brightwater Senior Living of Highland in California

by Jeff Shaw

HIGHLAND, Calif. — Capital Funding Group (CFG) has provided an $18 million loan for the refinancing of a 99-bed assisted living and memory care facility, Brightwater Senior Living of Highland, in the San Bernardino suburb of Highland. The borrower is Brightwater Senior Living, which developed the facility in 2014 and is the current owner-operator. Further details were not disclosed.

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