GREENSBORO, N.C. — Blackford Capital has acquired ID Collaborative Inc. (IDC), an interior design firm that specializes in continuing care retirement communities. Terms of the deal were not disclosed. The deal is Blackford’s third in the commercial interior design industry in 2021, following the acquisition of Georgia-based Design Environments and the merger of Vertically Integrated Projects and Boston Trade Interior Solutions. “We are aggressively executing against our strategic plan to address the highly fragmented interior design and procurement industries to better serve our customers and the industry as a whole,” …
Company News
DALLAS— Capital Senior Living Corp. (NYSE: CSU), an owner-operator of senior living communities across the United States, has closed the previously announced financing transactions with Conversant Capital and has raised a total of $154.8 million, including aggregate gross proceeds of approximately $34 million from a common stock rights offering. With the closing of the transaction, the company’s board of directors has been reconstituted. Noah Beren, Benjamin Harris, Dave Johnson, Max Levy, Shmuel Lieberman and Elliot Zibel will join the board, effective immediately. Philip Brooks, Jill Krueger and company CEO Kimberly …
CLEVELAND — Cleveland-based KeyBank Real Estate Capital, the commercial real estate business unit of KeyCorp (NYSE: KEY), has established a new unitranche loan program with Toledo-based Welltower Inc. The healthcare real estate fund will total $750 million in lending capacity and will provide first mortgage financing on seniors housing and skilled nursing facilities. A unitranche loan blends senior and junior debt pricing and terms into a single first lien debt facility rather than creating two classes of debt and coordinating among multiple lenders. This approach increases certainty of execution, and …
MESA, Ariz. — Thoma-Holec Design has hired interior designer Lisa Warnock as principal at the Mesa-based firm. Warnock will lead the launch of the new Northwest Studio in Portland, Oregon, specializing in senior living, multifamily and hospitality design. Warnock has over 20 years of experience in the senior living, multifamily and hospitality sectors. She was previously principal and director of housing interiors at LRS Architects. Warnock earned her bachelor’s degree in interior design at Marylhurst University. In addition to her design work, Lisa is a member of the Illuminating Engineering …
WAYNE, Pa. — Specialty senior moving services provider Moves for Seniors has launched a safety-focused initiative to make fully vaccinated moving crews available to as many clients as possible. The Wayne-based company has fully vaccinated crews available in 50 markets to date, with ongoing efforts to add new markets weekly across the national network. “Our organization is purpose-built for seniors and a critical goal for us is customer safety,” says Chris Smith, founder and CEO of Moves for Seniors. “In 2020 and early 2021, our primary focus was on securing …
RALEIGH, N.C. — NIC MAP Vision, a provider of senior housing data and analytics, has partnered with financial analytics firm Trepp to improve the seniors housing industry’s access to CMBS financial data. Through their partnership, Trepp’s data adds depth to a platform that provides demand and occupancy data for the seniors housing industry in the United States. The NIC MAP Vision platform combines supply-and-demand data, while Trepp collects and maintains standardized loan, deal and property-level financial data as part of the Securities and Exchange Commission’s commercial mortgage-backed securities (CMBS) disclosure …
Capital Funding Group Promotes Erik Howard to Executive Managing Director of Business Development, Marketing
by Jeff Shaw
BALTIMORE — Capital Funding Group (CFG), a Baltimore-based lender, has announced an expansion from long-term care into the multifamily and seniors housing sectors. To help run the new divisions, CFG has promoted Erik Howard to executive managing director of business development and marketing. During his 17-year career at CFG, Howard has been involved with the financing of more than $7 billion of healthcare and multifamily assets. With the move into seniors housing and apartments, Howard and CFG expect that amount to double in the next three years. Along with the …
GASTONIA, N.C. — After 43 years as a leading advisor to senior living communities, Gastonia-based Spectrum Consultants is rebranding as Tandem Senior Living Advisors. The new moniker is executive creative director David Caudle’s creation, meant to illustrate how the firm partners with other like-minded companies and senior living advocates The rebranding and new name come following the company’s April acquisition of Holleran Consulting, a national community engagement research and consulting firm specializing in resident and employee surveys for senior living. The Holleran name and core business will remain intact. Tandem …
Eclipse Senior Living to Cease Operations in 2022 as Ventas Moves 90 Communities to Other Managers
by Jeff Shaw
CHICAGO and LAKE OSWEGO, Ore. — Eclipse Senior Living has announced plans to cease operations in early 2022 as its main landlord, Chicago-based Ventas, moves its 90 Eclipse-managed communities to other operators. Ventas cited a desire to move to more regional, middle-market operators with local expertise. The 20-state portfolio will be managed by eight different operators moving forward. “The transitions are designed to execute on the company’s seniors housing strategy that matches the right asset with the right market and the right operator,” a press release from Ventas stated. “The …
Homestead Cos. Launches Homestead Living, Bringing All Operations Divisions Under One Umbrella
by Jeff Shaw
COLUMBUS, Ohio —Homestead Cos. has launched Homestead Living, bringing its multifamily, student housing and seniors housing divisions under one company umbrella. Homestead Living will encompass the in-house management team that oversees the day-to-day operations and performance of student housing company Homestead U (HU), multifamily company Homestead America (HA) and the newest venture of active 55+ Homestead Senior Living (HSL). The company is based in Columbus. Laura Formica, former vice president of operations who led the student housing division for five years from 2012 to 2017 and rejoined the company as …