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Joe-Weisenburger
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Charter Appoints Joe Weisenburger SVP of Capital Markets, Business Development

by Hayden Spiess

NAPERVILLE, Ill. — Charter Senior Living has appointed Joe Weisenburger senior vice president of capital markets and business development.  With more than two decades of experience in the seniors housing sector, Weisenburger most recently served as vice president of capital markets and investments at Kisco Senior Living. HE also previously held leadership roles at LCS and Welltower.  “Joe brings an exceptional combination of industry expertise, investment knowledge and longstanding relationships that will be instrumental in Charter’s next chapter,” says Patrick Mathews, CFO and CIO of Charter Senior Living. “His experience and …

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Richard Hutchinson
AcquisitionsCompany NewsNewsOperations

Discovery Acquires 26 Management Contracts From Senior Solutions Management Group

by Hayden Spiess

BONITA SPRINGS, Fla. — Discovery Senior Living has entered into a definitive agreement to acquire the management contracts for 26 seniors housing communities from Senior Solutions Management Group (SSMG).  According to Discovery, the portfolio is concentrated in eight states in the South and the Southeast.  Totaling more than 2,200 units, the communities comprise assisted living, independent living and memory care units. Of the units, 69 percent are assisted living, with 18 percent independent living and 13 percent memory care.  Discovery, led by co-founder and CEO Richard Hutchinson, is currently the largest …

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Company NewsDevelopmentNewsNorth Carolina

Madison Communities Expands Into Seniors Housing Sector

by Hayden Spiess

CHARLOTTE, N.C. — North Carolina-based multifamily development company Madison Communities has announced plans to expand into the seniors housing sector.  The firm’s new platform will focus on the ground-up development of communities in the Sunbelt, with an emphasis on luxury.  “Seniors housing is a natural extension of what we do well — designing and building exceptional communities,” says Ryan Hanks, CEO of Madison Communities. “Demand is accelerating while new construction has nearly stalled.” Matthew Griffin has joined the company as executive managing director of development and will lead the senior living …

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Discovery-Village_Naples-Florida
AcquisitionsCompany NewsNews

Discovery Acquires Sunshine Retirement Living

by Hayden Spiess

BONITA SPRINGS, Fla. — Operator Discovery Senior Living has entered into a definitive agreement to acquire seniors housing management company Sunshine Retirement Living.  Discovery will obtain full ownership of the company, which will join Discovery’s family of management companies and will remain its own distinct company. Luis Serrano, president and co-founder, will continue to lead the company.  Founded in 2010 and based in Bend, Oregon, Sunshine manages a portfolio of 33 senior living communities totaling roughly 3,500 units. The communities comprise approximately 2,750 independent living units, 207 assisted living units and …

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Company NewsNews

Priority Life Care, Almanac Realty Enter $275M Strategic Partnership

by Hayden Spiess

FORT WAYNE, Ind. — Senior living operator Priority Life Care and investment firm Almanac Realty Investors have entered into a new strategic partnership, with Almanac Realty committing to provide $275 million in capital.  According to a press release, the funds will support Priority Life Care’s “growth initiatives in seniors housing.” Ted Flagg, Jay Wagner and Tim Hosmer of JLL advised Priority Life Care in the transaction. Headquartered in Indiana, Priority Life Care operates a portfolio of more than 70 communities. 

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Sunrise_Manhattan-Beach-Calif
AcquisitionsCompany NewsNews

BDT & MSD to Acquire Sunrise Senior Living for $1B

by Hayden Spiess

MCLEAN, Va. — Funds affiliated with BDT & MSD Partners have entered into a definitive agreement to acquire operator Sunrise Senior Living. According to The Wall Street Journal, the acquisition price is $1 billion. PSP Investments is the seller.  The Sunrise senior leadership team, led by Jack Callison, the chief executive officer, will remain in place.  Founded roughly 45 years ago, Sunrise currently operates a portfolio of more than 230 communities throughout the U.S. and Canada, serving more than 22,000 residents. Headquartered in Virginia, Sunrise ranked as the sixth-largest seniors housing operator in …

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David Rieth (left) and Courtney Clyde
Company NewsNews

Continuum Advisors Adds David Rieth, Promotes Courtney Clyde

by Hayden Spiess

TAMPA, Fla. — Seniors housing investment sales and advisory firm Continuum Advisors has expanded its national investment sales team.  David Rieth has been hired as director at the Florida-based company. Additionally, Courtney Clyde has been promoted, also to the role of director.  Rieth joins Continuum from Longview Senior Housing, a Blackstone company. At Longview, he helped oversee asset management, financial analysis and divestment for more than $1 billion in seniors housing communities.  Prior to joining Continuum in October 2023, Clyde worked in multifamily property management at Preferred Apartment Communities, another Blackstone …

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Company NewsNews

RiverGlade Capital Acquires Senior Living Residences

by Hayden Spiess

CHICAGO — RiverGlade Capital Partners has acquired Senior Living Residences (SLR), a Northeast-based seniors housing operator.  Under the new partnership with Chicago-based RiverGlade, SLR will continue to operate under its existing name and leadership team. SLR’s founder, Bob Larkin, will transition to the company’s board of directors as part of the transaction.  Founded in 1990, SLR operates a portfolio of 24 independent living, assisted living and memory care communities in Massachusetts, Connecticut, New Hampshire, New Jersey and Rhode Island.   RiverGlade Capital is a healthcare-focused private equity firm. 

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Company NewsNewsOregonPeople

Anthem Memory Care Promotes Lewis McCoy to President

by Hayden Spiess

WEST LINN, Ore. — Anthem Memory Care has promoted Lewis McCoy to the position of president.  McCoy previously served as chief operating officer for the Oregon-based company, which operates and develops memory care communities in Arkansas, California, Colorado, Illinois, Kansas, Minnesota, New Mexico, Ohio, Tennessee and Wisconsin.  In his new role, he will focus on improving and strengthening Anthem’s infrastructure, capabilities and employee base. According to the company, his key priorities will include operational efficiency, research and development, process improvement and innovation.  McCoy holds a doctorate of philosophy in industrial and …

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David-Coster
Company NewsNewsNorth CarolinaPeople

Cline Appoints David Coster Director of Seniors Housing

by Hayden Spiess

RALEIGH, N.C. — Cline has appointed David Coster to the newly created position of seniors housing sector director. In his new role, Coster will lead efforts to expand the architecture and design firm’s senior living capabilities and market presence throughout the U.S.  Coster, who has 30 years of experience in the healthcare, financial services and real estate industries, most recently served as vice president of development at Retirement Living Associates.  “David’s extensive experience in senior living development combined with his broad leadership background makes him exceptionally well suited to lead Cline’s …

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