LAKEWOOD, Colo. — Vivage Senior Living and Beecan Health Colorado have merged, bringing together an integrated network of care. The two companies combined operate 42 skilled nursing facilities totaling 3,600 licensed beds in the state of Colorado. In addition to providing a large variety of placement options, Vivage-Beecan is also dedicated to enhancing specialty program development. This unified network of skilled nursing facilities allows residents and family members greater access to healthcare solutions in every corner of the state of Colorado, according to the company.
TOLEDO, Ohio and ROANOKE, Va. — Welltower Inc (NYSE: WELL) and Retirement Unlimited Inc. (RUI) have formed a partnership under which RUI will operate luxury seniors housing communities under a newly launched Elancé brand. Welltower, a Toledo-based REIT, installed Roanoke-based RUI as the operator of Fountains at Washington House in Alexandria, Virginia in November. Following the change, the property was renamed Elancé at Alexandria and became the first community under the new banner. The two companies have planned a “significant expansion in the programmatic relationship between Welltower and RUI” in …
SOUTH BEND, Ind. — Strawberry Fields REIT, a South Bend-based owner of skilled nursing facilities, assisted living facilities and long-term acute care hospitals throughout the Midwest and South, will officially begin trading on the New York Stock Exchange American on Wednesday, Feb. 22. The stock exchange, formerly known as the American Stock Exchange, is known for representing small-cap companies that are not yet big enough to list on the New York Stock Exchange, according the U.S. News & World Report. The company announced in April of last year that it …
ALEXANDRIA, Va. — Oxford Finance LLC, an Alexandria-based specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, provided $867 million in healthcare real estate loans in 2022. The total was an annual record for the company’s Healthcare Real Estate Group, which closed a total of 14 transactions, with credit facilities ranging from $9 million to over $124 million. Highlights included: Oxford provided an $80.8 million term loan and an $8.5 million revolving line of credit to finance the acquisition of four healthcare campuses comprised …
NEWTON, Mass. — ABP Acquisition LLC has agreed to acquire Newton-based operator AlerisLife Inc. (NASDAQ: ALR) for $1.31 per share, or $43.8 million, and take the company private. The price represents an 85 percent premium to the average stock price over the 30 days prior to the sale announcement, which was 71 cents per share. ABP is majority owned and controlled by Adam Portnoy, one of ALR’s managing directors and the chair of its board of directors. ABP and its affiliates currently own approximately 6.1 percent of ALR’s outstanding shares …
IRVINE, Calif. — Sabra Health Care REIT Inc. (NASDAQ: SBRA) has completed roughly $185 million of sales related to previously disclosed disposition activity. In addition, the 24 properties formerly leased to North American have been successfully transitioned to Ensign Group (NASDAQ: ENSG) and the Avamere Family of Companies. The disposition activity was almost entirely comprised of skilled nursing investments, including a sizable portfolio that sold for over $200,000 per bed. In aggregate, the cash yield on this disposition activity was approximately 7 percent for the 12-month period ending Sept. 30, …
CHICAGO — Ventas Inc. (NYSE: VTR), a Chicago-based REIT and the second-largest owner of seniors housing in the United States, has promoted J. Justin Hutchens. The longtime seniors housing executive will maintain his title of executive vice president of seniors housing, but take on the additional role of chief investment officer. In his expanded role, Hutchens will be responsible for Ventas’ capital allocation strategy and execution across the enterprise in addition to his current responsibility for the company’s seniors housing portfolio. He will oversee both the seniors housing and investments …
NEW YORK CITY and CHICAGO — Rockwood Capital and Doyenne Healthcare Capital (DHC) have formed a joint venture to invest up to $100 million of equity in seniors housing communities across the country. Financial terms of the venture were not disclosed. “We view seniors housing as a complementary strategy for our existing ‘live-space’ investment program,” says David Becker, co-managing partner of Rockwood. “We believe that significant demographic tailwinds continue to support the sector. We also believe that the operational disruption caused by the pandemic coupled with the current capital markets …
TOLEDO, Ohio — Welltower (NYSE: WELL), the largest owner of seniors housing in the United States, has promoted Nikhil Chaudhri to executive vice president and chief investment officer and Ayesha Menon to executive vice president of wellness housing and development. Chaudhri previously served as co-head of U.S. investments. Since joining Welltower eight years ago as an associate, he has led many of the company’s most complex transactions. He holds an MBA from Columbia Business School and a BSE in computer science engineering from the University of Michigan. Menon drove the …
NASHVILLE, Tenn. — Brookdale Senior Living Inc. (NYSE: BKD), a Nasville-based company that is the largest operator of seniors housing in the country, has made a variety of changes to its corporate structure. Steven Swain, who serves as Brookdale’s chief financial officer, will leave the company on Feb. 24. Dawn Kussow, currently chief accounting officer, will replace Swain while continuing to serve in her current role. Meanwhile, Rick Wigginton was promoted to chief sales officer. Kevin Bowman, executive vice president of community operations, left the company on Jan. 12. Laura …