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AcquisitionsCCRCFinanceNewsNorth Carolina

Ziegler Arranges Acquisition Financing for 203-Unit Village at Brookwood CCRC in Burlington, North Carolina

by Jeff Shaw

BURLINGTON, N.C. — Ziegler has arranged three separate loans to fund the acquisition of The Village at Brookwood (TVAB), a continuing care retirement community (CCRC) in Burlington. Opened in 2003, TVAB features 155 independent living units, 12 assisted living units, 12 memory care units and 24 skilled nursing units on a 47-acre plot. The buyer, Well-Spring, is the current operator and also owns/operates a second CCRC in nearby Greensboro. Alamance Regional Medical Center originally developed TVAB, but the health system was acquired by Cone Health in 2011, after which Well-Spring …

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CCRCNewsPeopleTexas

Buckner Names David Ummel as New Executive Director at Buckner Westminster Place in Longview, Texas

by Jeff Shaw

LONGVIEW, Texas — Buckner Retirement Services has named David Ummel as the new executive director at Buckner Westminster Place in the East Texas city of Longview. Ummel most recently served as executive director for Calder Woods in Beaumont, which Buckner Retirement Services also operates. A 14-year veteran of Buckner, Ummel worked for Buckner Children and Family Services (BCFS) and Buckner church/ministry engagement prior to his move to Buckner Retirement Services. As a Buckner church engagement officer, he oversaw Faith Fosters Texas, a statewide initiative engaging the faith-based community with the …

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CCRCDevelopmentFinanceNewsTexas

Ziegler Arranges $197.7M Bond Financing for The Outlook at Windhaven in Plano, Texas

by Jeff Shaw

PLANO, Texas — Ziegler has arranged $197.7 million in bond financing for the Outlook at Windhaven Forefront Living, a seniors housing community in Plano. The property is currently in the development process. Designs call for 153 independent living apartments, 30 independent living cottages, 32 assisted living units and 24 memory care units. The proceeds will be used to refinance the cost of acquiring, developing and constructing the retirement community. The borrower is Forefront Living, formerly known as Presbyterian Communities and Services. The financing comprises $109.5 million of tax-exempt bonds, $88.2 …

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AcquisitionsCCRCNewsTexas

Grandbridge Brokers Sale of 664-Unit CCRC Portfolio in Texas

by Jeff Shaw

ABILENE, AMARILLO and TYLER, Texas — Grandbridge Real Estate Capital’s seniors housing investment sales team has arranged the sale of a three continuing care retirement communities (CCRC) in Texas. Lifespace Communities acquired the properties from RSF Partners, Evergreen Senior Living Properties and ER Senior Management. The price was not disclosed. The 664-unit portfolio provides a full continuum of care including independent living cottages and apartments, assisted living, memory care and skilled nursing in a hybrid structure of entrance-fee and rental contracts. The properties include Wesley Court in Abilene, The Craig …

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CCRCDevelopmentFinanceIndependent LivingNewsVirginia

Ziegler Arranges $71M Bond Financing for Shenandoah Valley Westminster-Canterbury in Winchester, Virginia

by Jeff Shaw

WINCHESTER, Va. — Ziegler has arranged $71 million in bond financing for Shenandoah Valley Westminster-Canterbury (SVWC), a continuing care retirement community (CCRC) in Winchester, approximately 75 miles west of Washington, D.C. SVWC was founded in 1982 and provides housing, healthcare and other services to nearly 400 residents on its 87-acre campus through the operation of 218 independent living units (164 apartments and 54 cottages), 48 assisted living units, 12 memory care units and 51 skilled nursing beds. SVWC is completing an independent living unit expansion project known as the Hackwoods, …

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ArizonaCCRCFinanceNews

BMO Harris Closes $145M Term Facility for LCS, Westminster Capital

by Jeff Shaw

PHOENIX — BMO Harris Bank’s Healthcare Real Estate Finance group has closed on a $145 million, two-bank term facility for LCS and Westminster Capital. The borrowers will use the funds to recapitalize Sagewood, a continuing care retirement community in Phoenix. The property features 417 independent living, 44 assisted living, 28 memory care and 78 skilled nursing units.

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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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