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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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CCRCDevelopmentIllinoisNews

HJ Sims Arranges USDA Financing for $32M Expansion Project at Evenglow Lodge in Pontiac, Illinois

by Jeff Shaw

PONTIAC, Ill. — HJ Sims has arranged financing for a $32 million expansion project at Evenglow Lodge, a continuing care retirement community in downtown Pontiac, approximately 95 miles southwest of Chicago. The United States Department of Agriculture (USDA) is providing the majority of the funds. In accordance with USDA’s requirements, proceeds of the financing will be used for the construction of 76 replacement assisted living units, common space and other space used by the health center, as well as for the demolition of the existing assisted living structure. Opened in …

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Paychex Labor Shortage Hiring Practices Quote
Active AdultAffordable HousingAssisted LivingCCRCContent PartnersFeaturesIndustry ContentOperationsPeopleTechnology

How to Streamline Senior Living Community HR Processes

by Sarah Daniels

Cut Costs, Save Time and Recruit and Retain Good Workers The growth of the aging population is creating more demand for senior living options. But growing demand is colliding with a labor shortage, adding to the workload and strain on senior living communities. Scalable, streamlined HR infrastructure can help. Efficient and cost-effective solutions can cut expenses and reduce the amount of executive time spent on staffing issues. Enhanced back-office systems can also help boost recruitment and retention efforts. “Everything we do is designed and built around taking the burden off …

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AcquisitionsCCRCNewsSouth Carolina

Blueprint Negotiates Sale of 222-Unit Easley Place CCRC in South Carolina

by Jeff Shaw

EASLEY, S.C. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Easley Place, a continuing care retirement community (CCRC) in Easley. Easley Place, a 222-unit campus offering independent living, assisted living and skilled nursing services, is located in the Greenville-Spartanburg metro area and was built in 1985. The seller was a West Coast-based owner-operator seeking to divest of a non-core asset. The company acquired the asset in 2019, but the turnaround plan was negatively impacted by COVID. Elevation Financial Group bought the property for an undisclosed price and …

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CCRCDevelopmentIllinoisIndependent LivingNews

Lifespace Breaks Ground on Independent Living Expansion at Oak Trace CCRC in Downers Grove, Illinois

by Jeff Shaw

DOWNERS GROVE, Ill. — Lifespace Communities has broken ground on an expansion project at Oak Trace, a nonprofit continuing care retirement community in the Chicago suburb of Downers Grove. The expansion is Phase II of a $112 million reinvestment project at the community. The first phase, which converted some units to assisted living to complete the continuum of care, was completed in 2019. Phase II will add 145 independent living apartments, bringing the total from 232 to 377. It is scheduled for completion in 2023. In addition to increasing the …

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Active AdultAffordable HousingAssisted LivingCCRCIndustry ContentPeopleSkilled NursingTechnologyVideosWebinars

Webinar: What’s Ahead For Seniors Housing Staff, Leaders and HR

by Sarah Daniels

  The “What’s Ahead For Seniors Housing Staff, Leaders and HR: A Study on 2022 Business Priorities” webinar took place April 14 and was hosted by Seniors Housing Business and sponsored by Paychex. The discussion focused on staff retention and engagement; diversity, equity, and inclusion initiatives; and resiliency strategies for the industry. In a time of labor shortages, keeping staff happy and well trained has become particularly difficult for senior living communities. Using Paychex’s recent survey results on workforce challenges, this webinar explores the most challenging aspects of managing staff, the Great …

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CCRCDevelopmentFinanceNewsWisconsin

Ziegler Arranges $87.5M in Financing for Expansion Project at Cedar Crest in Janesville, Wisconsin

by Jeff Shaw

JANESVILLE, Wis. — Ziegler has arranged a financing package totaling $87.5 million for an expansion project at Cedar Crest, a continuing care retirement community in Janesville, approximately 40 miles southeast of Madison. The financing includes $57.5 million in fixed-rate revenue bonds and $30 million in bank debt bought by BMO Harris Bank. The Wisconsin Health and Educational Facilities Authority issued the financing. Cedar Crest currently features 135 independent living units (consisting of 102 apartments and 33 cottages), 44 assisted living units, 24 memory care assisted living units, and a skilled …

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