OMAHA, Neb. — Transforming Age has announced plans to open a second headquarters in Omaha, along with the addition of 10 third-party managed communities largely in the Midwest. Following the new operational acquisitions, Seattle-Based Transforming Age’s portfolio will total nearly 70 communities. The newly added third-party managed communities, including one under construction, are located in Illinois, Colorado, Nebraska, Kansas, Iowa and South Dakota. This mix of entrance-fee and market-rate rental communities represents over 1,000 units. New additions to the Transforming Age team will include Frankie Pane, Julie Bennett, Camille Burke …
BONITA SPRINGS, Fla. — Funds advised by Lee Equity Partners LLC and Coastwood Senior Housing Partners LLC have agreed to an undisclosed amount of investment in Discovery Senior Living, a Bonita Springs-baed operator. The recapitalization will fund Discovery’s expansion and operational platform enhancement plans. “This strategic recapitalization purposefully combines the strengths and successful experiences of three companies and the resultant innovation-focused efforts will allow the acceleration of Discovery’s ability to execute its vision of creating a scaled company that outperforms the marketplace, addresses some of the legacy industry paradigms and …
DENVER — Healthpeak Properties Inc. (NYSE: PEAK), a Denver-based REIT, has promoted Scott Brinker from chief investment officer to chief executive officer and elected him to the company’s board of directors. Brinker replaces Tom Herzog, “who mutually agreed with the board to step down as chief executive officer and from the board to pursue other endeavors,” according to a press release from Healthpeak. Healthpeak also announced that Scott Bohn, executive vice president and co-head of life sciences, was appointed chief development officer and Adam Mabry, previously senior vice president of …
DALLAS — Compatriot Capital, a diversified real estate company and wholly owned subsidiary of Sammons Enterprises Inc., has acquired an equity interest in Dallas-based senior living developer Silverstone Senior Living. Currently, Compatriot Capital is Silverstone’s largest limited joint venture partner with investments in the company’s Washington, D.C. projects currently in development. Silverstone Senior Living was established in Dallas in 2012 by hospitality and real estate veterans Denny Alberts and John Goff, who had held executive roles at Crescent Real Estate Equities Inc. Currently, Crescent is an investor in Silverstone. Silverstone …
DES MOINES, Iowa — LCS, the nation’s third largest senior living provider, has promoted Chris Bird from executive vice president and chief operating officer to president. He will continue to serve in his existing roles at the company following the promotion. Bird will be responsible for leading the company’s operating activities and working with senior management to drive performance and earnings across all business lines. “This is a well-deserved promotion for one of the industry’s most respected leaders,” said Joel Nelson, LCS’ CEO. “Chris has dedicated his career to senior …
SEATTLE — Bill Pettit, who served as president of RD Merrill Co. for more than 30 years, has launched a new seniors housing consulting and investment firm with his son, Billy. The new company, Seattle-based Black Dog Capital Advisors, will focus on strategic consulting with senior living operators and capital sources. “Our focus will be on consulting with capital sources that have impaired communities coming out of COVID or are struggling with operating performance in their investments,” says Bill Pettit. “I expect we will work with their asset management teams as …
HOUSTON — Bridgewood Property Co. has officially launched The Aspenwood Company, an operator with a focus on the Southeast and Central U.S. Bridgewood has hired Heather Tussing as president of the new, Houston-based Aspenwood. She brings over 20 years of experience in operations, sales, compliance and marketing in senior healthcare services, most recently serving as both chief operating officer and vice president of sales for Morning Pointe Senior Living. “The formation of The Aspenwood Company with Heather’s highly respected leadership provides a strategic alignment of our current and future business,” …
ST. LOUIS — Green Street Real Estate Ventures is joining forces with Danny Stricker on the launch of owner-operator Chapters Living. The company will focus on assisted living and memory care communities at the start, with plans to expand to the active adult sector in the future. “I am blessed to launch this dream in partnership with a great organization in Green Street,” says Strciker. “Serving older adults and their families is my passion and with the talented team at Green Street as support, we have the opportunity to scale …
WILMINGTON, Del. — American Eagle Delaware Holding Co. LLC and its subsidiaries, collectively known as Eagle Senior Living, have completed a comprehensive financial reorganization and exited the Chapter 11 bankruptcy process. The company has implemented its plan of reorganization, approved by the U.S. Bankruptcy Court for the District of Delaware. Eagle Senior Living has significantly reduced its debt service and enhanced its liquidity position, creating a stronger financial foundation, according to the Wilmington-based company. As part of the Chapter 11 process, Eagle Senior Living executed a transaction whereby Atlantis Senior …
HACKENSACK, N. J., and SCOTTSDALE, Ariz. — Executive Home Care, a Hackensack-based in-home care provider with a wide range of service options and care programs, has acquired the Assisted Living Locators brand and franchise system. Assisted Living Locators is a Scottsdale-based franchise dedicated to helping seniors find the right living and care solutions. Backed by The Riverside Company, a private equity firm, Executive Home Care’s acquisition of Assisted Living Locators expands the company’s footprint in the senior care space. “The addition of Assisted Living Locators fits seamlessly with our business …