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CaliforniaCCRCFinanceNews

Ziegler Arranges $61.3M in Bond Financing for Aldersly in San Rafael, California

by Jeff Shaw

SAN RAFAEL, Calif. — Ziegler has arranged $61.3 million in bond financing for Aldersly Garden Retirement Community, a continuing care retirement community in San Rafael, a northern suburb of San Francisco. The community was originally founded and incorporated in 1921 by Danish organizations as a retirement home serving the Danish-American communities in California and Nevada. The property is situated on an approximately 3.5-acre campus. Life Care Services LLC has provided management and marketing services since 2004. The borrower will use the proceeds of the bonds, together with an equity contribution, …

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CCRCCompany NewsIllinoisNews

Friendship Village CCRC Files for Chapter 11 Bankruptcy, Seeks Sale

by Jeff Shaw

SCHAUMBURG, Ill. — Friendship Village of Schaumburg, an independent continuing care retirement community (CCRC) in the Chicago suburb of Schaumburg, has filed for Chapter 11 protection through the U.S. Bankruptcy Court for the Northern District of Illinois and is seeking a sale. The community cites continued hardships from the COVID-19 pandemic. Debt on the community is largely through bond financing. The community will continue to operate as normal during the bankruptcy process. The sale process will be subject to the bankruptcy court’s oversight. Due to the large size of the …

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CCRCDevelopmentFeaturesNewsUtah

Joint Venture Receives $160M C-PACE Financing for Summit Vista CCRC in Taylorsville, Utah

by Jeff Shaw

TAYLORSVILLE, Utah — D.A. Davidson’s Special District Group, in partnership with Petros PACE Finance, has arranged $160 million in Commercial Property Assessed Clean Energy (C-PACE) financing for Summit Vista, Utah’s first life plan retirement community. Representing the largest C-PACE deal in history, according to the arrangers, the proceeds will be dedicated toward ongoing construction with a focus on enhancing the development’s energy efficiency, renewable energy and water efficiency. Owned in partnership with Gardner Group, Wasatch Group and Solamere Capital, Summit Vista offers a full continuum of care, including independent living, …

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CCRCFinanceFloridaNews

Ziegler Arranges $142.6M Bond Financing for Presbyterian Retirement Communities CCRCs in Florida

by Jeff Shaw

CHICAGO — Ziegler, a Chicago-based specialty investment bank, has arranged $142.6 million in bond financing for Presbyterian Retirement Communities (PRC). PRC is a nonprofit corporation originally chartered in 1954 in the state of Florida and has communities throughout Florida. PRC and its affiliates are a part of Westminster Communities of Florida and constitute the largest group of continuing care communities (CCRCs) in Florida with a total of 3,643 units. According to the 2022 LeadingAge Ziegler 200 Report, PRC and its affiliates are the 11th largest nonprofit operator of senior living …

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CaliforniaCCRCDevelopmentNews

Spieker Senior Development Partners Breaks Ground on 486-Unit Wisteria at Warner Center CCRC in Woodland Hills, California

by Jeff Shaw

WOODLAND HILLS, Calif. — Spieker Senior Development Partners has broken ground on Wisteria at Warner Center, a continuing care retirement community (CCRC) in Woodland Hills, approximately 25 miles northwest of Los Angeles. The senior living community will rise six stories on 17 acres and offer 486 units. Residential options range from one-bedroom options to penthouses of close to 3,000 square feet. Wisteria at Warner Center will offer a full continuum of care at the health center located adjacent to the community. Residents will have access to assisted living, memory care …

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AcquisitionsCCRCFloridaNews

Lument Securities Arranges Sale of Epworth Village Retirement Community in Hialeah, Florida

by Jeff Shaw

HIALEAH, Fla. — Lument Securities has arranged the sale of Epworth Village Retirement Community in Hialeah, a suburb of Miami. A private joint-venture partnership acquired the nonprofit continuing care retirement community for an undisclosed price. Laca Wong-Hammond and Dominic Porretta led the transaction for Lument Securities. The community was originally founded in 1948 as The Biscayne Home for Women.

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CCRCNewsOperationsPeopleWashington

Emerald Communities Promotes Michelle Wood to Vice President of Operations

by Jeff Shaw

REDMOND, Wash. — Emerald Communities, the Redmond-based nonprofit operator of Emerald Heights and Heron’s Key, has promoted Michelle Wood from corporate controller to vice president of operations. Wood will provide leadership, strategic and daily operational support to the executive directors at Emerald Heights and Heron’s Key. Wood will ensure proper management, planning, organization evaluation and control in all operating departments for each community. She will also oversee Emerald Communities’ director of food and beverage services and serve as Emerald Communities’ corporate risk and compliance officer. With the promotion of Wood, …

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AcquisitionsCCRCFloridaNews

Acts Considers Affiliation with Mease Life in Dunedin, Florida

by Jeff Shaw

DUNEDIN, Fla. — Acts Retirement Life Communities and Mease Life have signed a letter of intent to explore an affiliation relationship. An affiliation in the nonprofit world is similar to an acquisition in the for-profit space. Mease Life is a continuing care retirement community (CCRC) in Dunedin that is home to approximately 350 residents. Under the proposed agreement, Mease Life will become an Acts affiliate member, and part of a network of CCRCs operated and managed by Acts, the nation’s third largest not-for-profit senior living organization. A due diligence review …

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MatrixCare EHR software Sandy Hudak
Active AdultAssisted LivingCCRCContent PartnersFeaturesIndependent LivingIndustry ContentOperationsPeopleSkilled NursingTechnology

Five Tips on How to Leverage Data and Analytics

by Sarah Daniels

State-of-the-art software tools can improve operational efficiency, enhance resident outcomes and boost the bottom line. What can you utilize that has a positive impact on both residents and business results? Data and analytics. With real-time information on performance, senior care executives and clinicians can identify and overcome roadblocks to success. New improvements in the use of data and analytics are helping to guide decision-making. Data mining can boost staff efficiency and profitability. At the same time, data entry is becoming faster and easier. Software tools with the latest graphics make …

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AcquisitionsCCRCNewsPennsylvania

Presbyterian Senior Living to Acquire 532-Unit Pine Run CCRC in Doylestown, Pennsylvania

by Jeff Shaw

DOYLESTOWN, Pa. — Presbyterian Senior Living (PSL) has entered into a non-binding letter of intent to acquire Pine Run Retirement Community, a 532-unit continuing care retirement community (CCRC) in Doylestown, approximately 25 miles north of Philadelphia. If the deal closes, PSL will assume ownership of Pine Run, including Pine Run Lakeview Personal Care, from Doylestown Hospital. PSL intends to continue operating Pine Run as a CCRC. Pine Run features 272 independent living cottages and 24 apartments on a 43-acre private campus. The campus is home to Pine Run Health Center, …

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