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 …
FORT WASHINGTON, Pa. — Acts Retirement-Life Communities, a nonprofit operator based in Fort Washington, has added James Glynn, Heinz Hegmann and Dr. Daniel Middlebrooks to its board of directors. Glynn is co-founder (now retired) of GlynnDevins, one of the leading technology-enabled marketing agencies serving the senior living category. He is a frequent presenter at national and state trade associations. He started in senior living in 1981 as the vice president of marketing at John Knox Village. He holds a bachelor’s degree in economics from Rockhurst University. Hegmann is a retired …
Son of an industry legend sets out to build his own legacy and transform seniors housing. By Jeff Shaw If he had stuck with the plan, Adam Kaplan would have taken the reins at one of the 10 largest seniors housing operators in the country. The son of Senior Lifestyle co-founder and chairman Bill Kaplan, Adam worked for his father’s company for nine years in various roles. The initial idea was to hand over the company, which currently operates more than 15,000 units, from father to son. Bill Kaplan was …
CHICAGO — Referah, a Chicago-based company providing a new referral service for seniors housing communities, has officially launched. “With more than 10,000 baby boomers achieving retirement age every day in America, the demand for senior and assisted living communities is facing a strong growth period for those with solutions anticipating a step ahead on the innovation curve,” says Lesley Durkan, president and CEO of the company. The goal is to cut away the confusion and clutter of senior living searches by employing more and better input by including social interests, …
CHICAGO — NewPoint Real Estate Capital LLC has hired Christopher Honn as managing director of seniors housing originations. Based out of Chicago, Honn will work to expand the firm’s seniors housing and healthcare platform, with an emphasis on agency loan solutions. Honn brings more than 35 years of seniors housing and healthcare originations and underwriting experience to NewPoint. He has built several production platforms and leverages a track record of executing for nonprofit and for-profit clients on a national basis. Prior to joining NewPoint, Honn served as a managing director …
CHARLOTTE, N.C. — Arden, a Charlotte-based company developing 55+ active adult living communities in the Southeast, has promoted Natalie Edeburn to the role of director of operations. In this inaugural position, she will seek to establish best-in-class methodologies to support operational performance and develop company policies and procedures. Edeburn joined Arden earlier this year with over 25 years of real estate and property management industry experience throughout the Southeast. In her new role, she will be actively involved in all aspects of the assets and oversee the entire active adult …