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CCRCColoradoDevelopmentNews

PMMA Breaks Ground on $140M Aberdeen Ridge CCRC in Colorado Springs

by Jeff Shaw

COLORADO SPRINGS, Colo. — Presbyterian Manors of Mid-America (PMMA) has broken ground on Aberdeen Ridge, a continuing care retirement community (CCRC) campus in Colorado Springs. In 2018, PMMA acquired a Texas nonprofit corporation, which owned an undeveloped 15.3-acre site within Garden of the Gods National Park, and which already had the permits and approvals for a senior living community. Aberdeen Ridge is scheduled for completion in 2023 and will feature 171 one- and two-bedroom independent living residences, 40 assisted living apartments and 24 memory care suites. The homes will vary …

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AcquisitionsCCRCNewsPennsylvania

Tryko Partners Acquires 415-Bed CCRC Campus in Langhorne, Pennsylvania

by Jeff Shaw

LANGHORNE, Pa. — Tryko Partners has expanded its Greater Philadelphia real estate presence with the acquisition of the Attleboro Community, a continuing care retirement community in Langhorne. The 415-bed campus has been rebranded as Oxford Enhanced Senior Living. “Bucks County is a phenomenal market with a large senior population and strong hospital networks,” says Tryko’s Uri Kahanow, director of acquisitions. “The seller, Wilmac Corp., has done a fine job with this well-respected CCRC.” The campus’ skilled nursing facility, Oxford Rehabilitation & Healthcare Center, provides post-hospital care, short-term rehab and long-term …

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CCRCNewsPeople

Lifespace Communities Appoints Three Executives to Board of Directors

by Jeff Shaw

WEST DES MOINES, Iowa — Lifespace Communities, a nonprofit operator based in West Des Moines, has appointed three veteran business leaders to its board of directors. The company added David S. Williams III, co-founder and CEO of Care3 Inc.; Gary Blackford, chairman of Avanos Medical Inc.; and Jonathan Sokeye, chief financial officer of Carolina Complete Health Inc. Celebrating its 45th anniversary this year across 14 continuing care retirement communities in seven states, Lifespace will leverage the three board members’ expertise in healthcare, corporate finance, data and operations as the organization …

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CCRCFinanceHawaiiNews

Ziegler Arranges $52M Bridge Loan for Kalakaua Gardens in Honolulu

by Jeff Shaw

HONOLULU — Ziegler has arranged a bridge loan placement totaling $52 million for Kalakaua Gardens, a continuing care retirement community in Honolulu. The property features 164 units of independent living, assisted living, memory care and skilled nursing. The borrower is Island Paradise Investments (IPI). IPI opened Kalakaua Gardens in late 2016. The community is situated at the gateway to Waikiki within the lively Ala Moana enclave and in close proximity to several hospitals and medical clinics. The community was built for ohana-style living, where residents are encouraged to live and …

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CCRCFinanceNewsOhio

Ziegler Arranges $40.1M Bond Financing for Ohio Living

by Jeff Shaw

WESTERVILLE, Ohio — Ziegler has arranged $40.1 million in bond financing for Ohio Living, a Westerville-based owner-operator. Ohio Living owns and operates 12 senior living communities located throughout the state of Ohio, nine of which are full-service continuing care retirement communities. Proceeds of the bonds will be used to refinance a previous bond issue from 2013. In order to lock in attractive interest rates, the new bonds were priced on Oct. 13 with a six-month forward delivery for a planned closing on April 6, 2022. As a result of locking …

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CCRCDevelopmentNewsNorth Carolina

LCS Development Begins 44-Unit Expansion at Plantation Village in Wilmington, North Carolina

by Jeff Shaw

WILMINGTON, N.C. — LCS Development has started construction of an expansion at Plantation Village, a continuing care retirement community in Wilmington. The project will add 44 independent living units with covered parking, a new artisan studio, woodshop, dog park, cocktail bar, billiards room, more indoor and outdoor dining options, and expanded garden area for residents. A theater room, board room and creative arts room are also planned. Herbert J. Sims & Co. guided the financing of the project. Construction is scheduled for completion by May 2023. Project partners include CJMW …

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CCRCFinanceNewsNorth Carolina

Ziegler Arranges $130.8M Financing for United Methodist Retirement Homes

by Jeff Shaw

DURHAM, N.C. — Ziegler has arranged $130.8 million in bond financing for United Methodist Retirement Homes (UMRH). Based in Durham, UMRH operates three communities in North Carolina: Croasdaile Village in Durham, Cypress Glen in Greenville and Wesley Pines in Lumberton. The portfolio totals nearly 1,000 units. The bonds comprise both public, fixed-rate bonds and direct bank-held bonds that enable UMRH to lock in cash flow savings while borrowing $32.6 million of new money capital with its maximum annual debt service unchanged. In addition, the financing will fund a 54-unit independent …

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Ingrid Svensson staffing technology
CCRCContent PartnersIndustry ContentOperationsPeopleSkilled NursingTechnology

Streamlining Workflows in Post-Acute Care via Electronic Health Record Software

by Sarah Daniels

Balance and efficiency in seniors housing have always been the hardest-to-achieve goals of the post-acute care continuum. Electronic health record (EHR) software, integrated with existing technologies, can both promote consistency and save staff time. Once fully integrated, care platforms can create a cascade effect where purpose-built technologies improve the system of care: easier interfaces improve health records, analyze resident data and predict problems before they happen. Better records and data analytics save staff time and effort, so they can focus on improving care. Applying Technology to Post-Acute Issues Post-acute EHR …

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CCRCDevelopmentFloridaNews

FK Architecture Designs 155-Unit Expansion at Westminster Baldwin Park in Orlando

by Jeff Shaw

ORLANDO, Fla. — FK Architecture has completed design work for the second phase of Westminster Baldwin Park in Orlando. The 180,000-square-foot expansion will bring the continuing care retirement community to a total of 155 units and 40 rehabilitation beds. The second phase features three additional new residential buildings with 75 apartments. The general contractor for the project is Clancy & Theys.

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AcquisitionsCCRCNew HampshireNews

Covenant Living Acquires Hillside Village CCRC in Keene, New Hampshire

by Jeff Shaw

KEENE, N.H. — Covenant Living Communities and Services has agreed to acquire Hillside Village Keene, a continuing care retirement community (CCRC) in Keene, just north of the Massachusetts border. Covenant is purchasing the community out of bankruptcy in a deal scheduled to close in early 2022. The price was not disclosed. Hillside Village opened in 2019 with 141 independent living units, 43 assisted living units, 18 assisted living/memory care units and 20 nursing care suites. Its ability to achieve a healthy occupancy was severely interrupted by a suspension of sales …

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