NEW YORK CITY AND SALT LAKE CITY — Global alternative asset manager and private equity firm Apollo (NYSE: APO) has entered into an agreement to acquire Bridge Investment Group Holdings Inc. (NYSE: BRDG) in an all-stock transaction valued at approximately $1.5 billion. The deal is expected to close in the third quarter. Upon completion of the transaction, Bridge will operate as a privately held company, and shares of Bridge common stock will no longer be listed on the New York Stock Exchange. Bridge was ranked No. 21 on the American …
COLUMBUS, Ohio — Nonprofit organization National Church Residences has appointed new leaders of its board. Both longstanding board members, Virginia Barney and Rob Maloney will serve as chair and vice chair of the board, respectively. Barney succeeds Greg Overmeyer, who has served in the role since 2022. Barney’s experience includes more than 30 years of leadership in the private and public sectors, including tenures as the city manager, councilwoman and mayor of the City of Upper Arlington in Ohio. “I’m looking forward to working with my board colleagues and the staff …
CLEVELAND — Industry veterans Ken Gould and Jason Dopoulos have launched Ikaria Capital Group, a platform specializing in debt solutions including bridge loans, recapitalizations, refinancings, construction and permanent financing, FHA/HUD loans and working capital lines of credit. Cleveland-based Ikaria will feature a focus on skilled nursing and seniors housing facilities. Currently, the Ikaria team is processing a more than $1 billion pipeline of bridge loans through FHA/HUD. Gould and Dopoulos previously worked with Lancaster Pollard and White Oak Healthcare Partners, respectively. “We are dedicated to this sector and have specifically created …
GREELEY, Colo. — Ascent Living Communities will serve as the operations and management provider for High Plains Crossing, a 52-unit memory care community located in Greeley, on behalf of the ownership. Ascent plans to implement renovations at the property, which was originally opened in 2018. Plans include updated flooring; new furniture, fixtures and equipment; and reimagined lobby space. Renovations are scheduled for completion this spring, with residents remaining in their apartments throughout the process. Founded in 2008, Ascent’s portfolio comprises more than 750 senior living units.
FORT WAYNE, Ind. — Priority Life Care (PLC) has appointed Bobby Petras to the role of president. Petras previously served as chief operating officer (COO) of the company. Dave Kloster, who has been with PLC for three years, will take over the role of COO. Petras, who is also a co-founder of Fort Wayne-based PLC, will now concentrate on strategic initiatives and operational practices that align with the company’s growth objectives. “I look forward to working closely with our capital partners and ensuring that we implement effective operational practices as we …
TOLEDO, Ohio and HOUSTON — An affiliate of Welltower Inc. (NYSE: WELL) has entered into an agreement to acquire NorthStar Healthcare Income Inc., a public, non-traded REIT that owns a diversified portfolio of seniors housing properties throughout the United States, for roughly $900 million. Toledo-based Welltower will take ownership of NorthStar Healthcare’s portfolio of 40 seniors housing communities in the acquisition. Founded in 2010, Houston-based NorthStar Healthcare’s portfolio includes independent living, assisted living and memory care properties. “We expect that this portfolio will serve to further enhance our regional densification …
NORTH PALM BEACH, Fla. — Management company AgeWell Solvere Living has appointed Rich Gordon to the role of chief strategy officer (CSO). Gordon has been with AgeWell for three years and has more than 20 years of experience in the seniors housing sector. As CSO, he will lead the company’s long-term strategic direction and business development efforts. “We are thrilled to provide this advancement opportunity to Rich,” says Mark Lichtenwalner, CEO of AgeWell Solvere Living. “Over the years, he has demonstrated exceptional strategic thinking, an ability to execute on complex initiatives and …
SAN DIEGO — As of Jan. 1, Mark Myers has joined SVN Senior Living Advisors (SVN SLA) as a managing director. Myers will also serve as a member of the executive committee. Myers joins an existing team that includes Tony Yousif, Torey Riso, Don Husi, John Klement, Joshua Salzman, Aaron Thompson, Jacob Bennema, Fabio Riso, Shelly Bird and Michael Watson. According to a press release issued by the firm, Myers specializes in large, complex transactions. He recently facilitated the sales of a 76-facility, 5,000-unit portfolio and a 400-bed portfolio. “We’re thrilled …
CHICAGO — Real estate investment trust Ventas, which has a portfolio that features more than 800 seniors housing properties, has reached a new agreement with Brookdale Senior Living regarding the communities covered by the existing master lease between the two companies. Previously set to expire Dec. 31, 2025, the master lease applies to 120 senior living communities. Earlier this month, Brookdale expressed its intent to allow the lease to expire. Now, Brookdale will extend its lease on 65 of the communities for a 10-year term with a 38 percent cash rent …
BRENTWOOD, Tenn. — Brookdale Senior Living, the largest seniors housing operator in the United States, has declined to exercise its right to renew an existing master lease with real estate investment trust Ventas. Covering 120 seniors housing communities, the lease will remain effective through its current term, which ends Dec. 31, 2025. Annual cash rent under the master lease will total $113.6 million in 2025. In a press release, Brentwood-based Brookdale indicated the portfolio has “historically generated significant negative cash flows.” Additionally, Brookdale stated that it is open to continuing discussions …
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