Company News

ST. LOUIS and MIDDLETOWN, Pa. — Lutheran Senior Services (LSS), a faith-based, nonprofit operator based in St. Louis, has agreed to merge with Diakon Lutheran Social Ministries, a Middletown-based nonprofit operator. The agreement will bring Diakon’s senior living operations and four life plan communities under LSS management and form the 12th largest nonprofit seniors housing organization in the country, according to the two companies. The combined entity will features nearly $350 million in annual revenues across 12 life plan communities, one assisted living community and nine affordable seniors housing communities, as …

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NEW YORK CITY — Dwight & Co. has expanded its seniors housing and healthcare financing solutions by successfully launching working capital revolving lines of credit, investing in new technology and broadening the depth of its healthcare team.  The new team members include Paige Ela as managing director of healthcare finance and Itay Silverberg as director of analytics. Ela has over 20 years of experience working in healthcare at both public and privately held institutions, including SEC and FDIC-regulated firms. She joined Dwight following five years at Forbright Bank, serving as …

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ST. LOUIS — Dover Cos., a St. Louis-based seniors housing developer, builder and operator, has launched Dover Health. The new company seeks to bridge the gap between traditional medical services and the evolving needs of aging populations. Dover Health’s service offerings include home health, hospice, private duty services, long-term care pharmacy, primary care and palliative care. These offerings are designed to address the unique needs of seniors across independent living, assisted living and memory care environments. Dover aims to maximize Medicare and Medicare Advantage benefits and foster a culture of …

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LOUISVILLE, Ky. — John Moore has stepped down as CEO of Atria Management Co., a Louisville-based company and the second largest operator of seniors housing in the United States with over 40,000 units. The company has appointed Holly Belter-Chesser to replace him. The move is part of a planned leadership transition process. Belter-Chesser joined Atria in 2008 and has served in key leadership roles over the past 15 years, including most recently as chief financial officer and chief administrative officer. After 25 years with the company, Moore will remain a …

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DENVER — Onelife Senior Living, a Denver-based developer and operator, and Ally Senior Living, a Texas-based operator, have merged. The combined company manages 19 communities across eight states and will retain Onelife Senior Living’s name and branding. The companies began merger conversations in 2023 and the deal closed this month. Terms of the transaction were not announced. Dan Williams, previously CEO of Ally Senior Living, and Zack Falk, previously CEO of Onelife, will lead the combined company. Executive team members from both companies will fill roles in the newly established …

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BALTIMORE — Capital Funding Group (CFG), a Baltimore-based lender, executed or arranged more than $1.7 billion in financing across 50 deals in 2023.  The transactions included 34 healthcare bridge-to-HUD loans, five multifamily bridge loans, and 11 HUD loans. The multifamily bridge-to-HUD loans totaled approximately $49.7 million of the company’s annual financing.

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TOLEDO, Ohio — Welltower Inc. (NYSE: WELL), a Toldeo-based REIT and the largest owner of seniors housing in the United States with nearly 100,000 units, has agreed to acquire 25 active adult communities from Affinity Living Communities for $969 million. The off-market transaction is part of a long-term strategic partnership between the two companies, with plans for future development activity together. The portfolio encompasses nearly 3,900 units predominately concentrated in the Pacific Northwest. The acquisition will enable Welltower to strategically scale the geographic reach of its active adult portfolio into …

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BALTIMORE — M&T Realty Capital Corp., a wholly owned subsidiary of M&T Bank specializing in providing financing nationwide for commercial real estate, had record 2023 production volume for its seniors housing team. The group is ranked as the No. 1 Fannie Mae DUS producer for seniors housing and the No. 2 Freddie Mac seniors housing lender for 2023. Last year, the seniors housing team financed 32 properties in 11 states totaling $575 million in closed loans. Leveraging Fannie Mae, Freddie Mac, FHA and bridge lending as sources, the group financed …

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DALLAS — Sonida Senior Living Inc. (NYSE: SNDA), a Dallas-based owner-operator of communities and services for seniors, has executed a $47.8 million equity private placement, including an investment from Conversant Capital, the company’s largest shareholder.  Sonida plans to use this new capital for the completion of its balance sheet repositioning, continued investments in community improvements, broader community programming and acquisition opportunities. The shares were issued at $9.50 per share, a 5 percent premium to the 30-day volume weighted average price prior to closing. The equity private placement will close in …

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BRENTWOOD, Tenn. — Grow Your Occupancy, a Brentwood-based senior living services firm, has promoted Danielle Merlino to chief operating officer. Merlino served previously as vice president of strategic development. Merlino’s 20 years in the senior living industry spans operations, sales and marketing roles from community relations director to vice president of sales and operations. She has spent time at Jaybird Senior Living, Five Star Senior Living, Provision Living, Peterson Health Care and Lutheran Life Communities. Merlino will continue to be a visible member of the Grow Your Occupancy team at …

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