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AcquisitionsCCRCNew JerseyNews

ESI Arranges Sale of 212-Unit Hudson Hills CCRC in North Bergen, New Jersey

by Jeff Shaw

NORTH BERGEN, N.J. — Evans Senior Investments (ESI) successfully represented the sale of Hudson Hills Senior Living, a 212-unit continuing care retirement community (CCRC) in North Bergen, just across the Hudson River from Manhattan. Hudson Hills was originally constructed in 1897, with additional expansions in 1942, 1972, 1980 and 1990. The community features 59 independent living units, 81 assisted living units, 12 memory care units and 60 skilled nursing beds. ESI represented the seller, an independent owner-operator based in New Jersey. The buyer was an East Coast owner/operator expanding in …

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CCRCNewsPeople

Emerald Communities Hires Alexander Candalla as Vice President of Operations

by Jeff Shaw

REDMOND, Wash. — Emerald Communities, a nonprofit senior housing and services organization based in Redmond, has appointed Alexander Candalla as vice president of operations. Candalla joins Emerald Communities with nearly three decades of experience in senior living. In his role as vice president of operations, he will be responsible for the oversight of operations for the life plan senior living communities of Emerald Heights and Heron’s Key. Candalla will also work with executive directors of each property to implement new programs and policies, develop short-term and long-term strategic goals, and …

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Kate Risa Paychex Seniors HR
Active AdultAssisted LivingCCRCContent PartnersFeaturesIndustry ContentOperationsPeopleSkilled Nursing

Outsourced HR Meets the Challenges of Senior Living Staffing

by Sarah Daniels

Due to the nature of their clientele, senior living operators continually need to market their services to attract prospective new residents. But it’s not just new residents that they need to attract: it’s new employees as well. For the reality is that the senior living market faces some of the highest employee turnover rates in the service industry: upwards of 50 percent annually. Multiple factors are the culprit, including lower-than-average salaries, the difficulties of working with an aging and often high-acuity population, as well as few perceived opportunities for advancement, …

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CCRCDevelopmentFloridaNews

John Knox Village Breaks Ground on $120M Expansion in Pompano Beach, Florida

by Jeff Shaw

POMPANO BEACH, Fla. — John Knox Village of Florida (JKV), a continuing care retirement community in the South Florida city of Pompano Beach, has broken ground on Westlake, a two-tower, $120 million expansion. The groundbreaking comes on the heels of the completion of The Pavilion, a $35 million addition that included a 380-seat cultural arts center, two restaurants and a bar. “Over the past five years, a master site plan has been developed to guide the capital improvements of our 70-acre campus and the opening of our Pavilion and, in …

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CCRCDevelopmentFinanceNewsSouth Carolina

Ziegler Arranges $27.5M Bond Refinancing for Lutheran Homes of South Carolina

by Jeff Shaw

SOUTH CAROLINA — Ziegler has arranged $27.5 million in bond financing for The Lutheran Homes of South Carolina (LHSC). The borrower is a South Carolina-based nonprofit corporation that currently operates five life plan communities, three hospice offices and four non-medical in-home services agencies throughout South Carolina. LHSC operates a total of 1,077 units (409 independent living, 308 assisted living and 360 skilled nursing), ranking as the 83rd largest nonprofit senior living operator in the U.S. according to the 2021 LeadingAge Ziegler 200. First Horizon Bank, an LHSC existing banking partner, …

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AcquisitionsActive AdultAffordable HousingAssisted LivingCCRCDevelopmentIndependent LivingIndustry ContentInvestmentMemory CareOperationsVideosWebinars

Webinar: Inflation and Rising Interest Rates – Doom or Boom for the Seniors Housing Industry?

by Sarah Daniels

  Seniors housing valuations — what can the industry expect in terms of future occupancy, inflation and interest rates? These were the most pressing topics of the “Inflation and Rising Interest Rates — Doom or Boom for the Seniors Housing Industry?” webinar, hosted by Seniors Housing Business and sponsored by V&IG. Hear how expert panelists are accounting for some of the most challenging questions in today’s market: What is driving investment in this space? How have return expectations changed since the beginning of the pandemic? How are increasing interest rates and/or inflation impacting …

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AcquisitionsCaliforniaCCRCCompany NewsNews

Welltower Buys Seven West Coast Communities for $344M

by Jeff Shaw

TOLEDO, Ohio — Welltower Inc. (NYSE: WELL) has expanded its strategic partnership with Oakmont Management Group, a West Coast operator of Class A seniors housing communities. Welltower agreed to purchase seven senior living communities, subject to customary closing conditions, which Oakmont will operate under a RIDEA contract. The seven properties are located in affluent markets in California and include four rental properties and three continuing care retirement communities (both entry fee and rental), including Fountaingrove Lodge, the nation’s first LGBTQ-focused CCRC. The portfolio has geographic overlap with Welltower’s current footprint, …

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CCRCDevelopmentFinanceNewsVirginia

Ziegler Arranges $193.2M Financing for Westminster Canterbury Richmond CCRC

by Jeff Shaw

RICHMOND, Va. — Ziegler has arranged $193.2 million in bond financing for Westminster Canterbury Richmond, a continuing care retirement community (CCRC) in Richmond. Opening in 1975 as one of the first CCRCs in Virginia, Westminster Canterbury Richmond has become one of the largest single-site campuses with 809 total units (487 independent living, 164 assisted living and 158 skilled nursing). In 2019, Westminster Canterbury Richmond announced the Vibrancy! Project, an expansion designed to enrich the community in all aspects. The project will be constructed in two major areas on the campus: …

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Gaurie A. Rodman Technology staffing quote
Active AdultAffordable HousingAssisted LivingCCRCContent PartnersFeaturesIndustry ContentOperationsPeopleSkilled NursingTechnology

Design, Technology Lead to Labor Savings in Senior Living Communities

by Sarah Daniels

Senior living communities, often strained by labor shortages, can benefit from design and technology strategies built to streamline how employees spend their time. While the focus in any construction, design or renovation project must be on resident needs first, an in-depth planning approach can benefit the community as a whole — especially staff. Technologies — including fall detection and prevention, real-time location systems (RTLSs) and strong Wi-Fi — are at the heart of making sure staff can focus on residents. Good technology design is an essential part of making sure …

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CCRCDevelopmentFinanceFloridaNews

Ziegler Arranges $68M Financing for Expansion Project at Cypress Cove in Fort Myers

by Jeff Shaw

FORT MYERS, Fla. — Ziegler has arranged $68 million in financing for Cypress Cove at HealthPark Florida, a continuing care retirement community in Fort Myers. The community currently features 377 independent living units, 44 assisted living units, 44 memory support units and 64 skilled nursing units on a 48-acre campus. The financing will fund the addition of a 12-acre gated community known as The Oaks at Cypress Cove, which will include 24 independent living villas, 24 independent living apartments and new common areas in a five-story building. The financing comprises …

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