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 …
IRVINE, Calif. — Sabra Health Care REIT Inc. (NASDAQ: SBRA), an Irvine-based investor, plans to transition a 24-property portfolio previously leased to North American Health Care Inc. to two of Sabra’s existing tenants: The Ensign Group (NASDAQ: ENSG) and the Avamere Family of Companies. Ensign will add 20 properties located in California to two master leases with Ensign operating companies with initial terms of 18 and 20 years, each with an accompanying corporate guarantee from Ensign. The initial annual rent attributable to the 20 properties will be $29.4 million, with …
TOLEDO, Ohio — Welltower (NYSE: WELL), the largest owner of seniors housing in the United States, has announced plans to transition 147 skilled nursing facilities from its joint venture with ProMedica Senior Care to a new partnership with Integra Health. In addition to transferring the operations, ProMedica will surrender its 15 percent interest in the assets and Integra will acquire that same stake. The financial terms of the move were not disclosed. ProMedica will also “provide significant working capital support for the new operators to ensure a smooth transition of …
ST. LOUIS PARK and EAGAN, Minn. — Lifespark, a senior health company based in St. Louis Park, has agreed to acquire Eagan-based Livio Health, a wholly owned subsidiary of Blue Cross and Blue Shield of Minnesota that provides in-home health services to people with chronic and complex illness. The purchase agreement will integrate all operational components of Livio Health, as well Livio Health employees, into the current systems and capabilities of Lifespark throughout the state. Concurrent with the announcement, Blue Cross has secured a minority owner stake in Lifespark through …
LOS ANGELES — Standard Communities, a Los Angeles-based investor and developer of affordable multifamily housing including seniors housing, has established three new, diversified business lines. The three dedicated business lines — acquisition/redevelopment, new construction and essential housing — aim to leverage and align the strengths and diversity of Standard’s staff and enable them to execute faster and more efficiently. “With our national geographic reach and ambitious vision for the future, it is important that our structure allows us to stay nimble and responsive to opportunities,” says Scott Alter, co-founder and …
SACRAMENTO and SCOTTSDALE, Ariz. — Cogir Management has acquired Cadence Living to form one of the largest operators in the United States. The transaction involves Cogir buying out the shareholders of Cadence. Both companies have a focus on the West Coast, and the combined total number of units will be approximately 8,000 across nine states. Based on the American Seniors Housing Association’s June 1 numbers, that would make the company the 21st largest operator in the country, between Merrill Gardens and publicly traded Sonida Senior Living. Cogir Management USA is …
SOUTH BEND, Ind. — Strawberry Fields REIT, a South Bend-based owner of skilled nursing facilities, assisted living facilities and long-term acute care hospitals in the Midwest and South, has begun trading on the OTC Markets Group Inc. under the symbol STRW. OTCQX is an operator of regulated markets for trading 12,000 U.S. and international securities. “My partners and I invested significant time and energy to build our company, starting with the acquisition of 33 properties in Indiana and Illinois from 2005 through 2014,” says Moishe Gubin, chairman and CEO of …
BOULDER, Colo. — Three technology platforms focused on seniors housing — Enquire, Glennis, and Sherpa — have announced plans to merge following an investment from Boulder-based private equity firm Rubicon Technology Partners, which will be the majority shareholder in the combined company. The combined company will serve over 50 of the largest 150 seniors housing operators, and more than 800 customers in total, representing 5,700 communities across the senior living, post-acute and home care sectors. Rubicon is focused exclusively on investing in and growing enterprise software companies. Rubicon’s investment also …
QUINCY, Mass — Sentrics has acquired Connected Living, a seniors housing resident engagement platform based in Quincy. The platform includes a centralized content management system that helps operators share messages with whom they want, when they want and how it is best received easily and quickly, according to Sentrics. The Connected Living technology will become part of the Sentrics Engage360 suite. Brian McWade, the president of Connected Living will become the chief product officer at Sentrics, responsible for executing the integrated engagement strategy. “Residents who stay socially engaged are more …