BIRMINGHAM, Ala. — Atlas Senior Living’s principals have announced the formation of affiliate company, Salta Capital. Salta Capital will differentiate itself from Atlas’ day-to-day, community-level operations by focusing on capitalizing, finance and asset management with current and future Atlas-associated real estate holdings. In addition, Salta will pursue opportunities where it is strategic and beneficial for the communities, such as consumption of supply chains. Layne Held, former senior vice president of ServisFirst Bank, in conjunction with Atlas’ founders Scott Goldberg and Wyman Hamilton, will lead Salta. As a strategic shift, this …
IRVINE, Calif. — Sabra Health Care REIT Inc. (NASDAQ: SBRA) has announced that Harold Andrews, executive vice president, chief financial officer and secretary, will retire at the end of the year. Michael Costa, Sabra’s executive vice president of finance and chief accounting officer will take over the role of CFO. Andrews will remain in a consulting role with Sabra pursuant to a two-year consulting. Sabra will also begin searching for a replacement for Costa’s current position with the goal of filling that role by year end.
TOLEDO, Ohio — Welltower Inc. (NYSE: WELL), a Toledo-based REIT and the largest owner of seniors housing in the United States, has expanded its relationship with Oakmont Management Group. Through the acquisition of new management contracts, the partnership is expected to roughly double the size of Welltower and Oakmont’s existing portfolio by the end of the third quarter in affluent markets across California. Welltower has also signed a long-term exclusive development agreement with Oakmont. Through this agreement, both organizations will invest significant capital and resources to build, own and operate …
RICHARDSON, Texas, and BEND, Ore. — RealPage Inc., a Richardson-based provider of software and data analytics to the real estate industry, has agreed to acquire G5 Search Marketing, Inc. (“G5”), a digital marketing, advertising and analytics provider. Both companies work in the seniors housing industry. Terms of the transaction were not disclosed. RealPage plans to combine its own real estate platform with G5’s solutions, accelerating RealPage’s vision for marketing optimization and a better renter experience for its customers. The transaction is expected to close during the third quarter of 2021. …
NEW YORK CITY — Seniors housing finance veterans Rick Shamberg, Greg Rush and Kari Schmidt have launched Scarp Ridge Capital Partners, a New York-based investor. Focused on value-add and opportunistic real estate, the company plans to invest in hospitality and healthcare with a heavy concentration of seniors housing. Launching with a $300 million fund, Scarp Ridge plans to acquire non-performing loans; create structured financing solutions including debt, mezzanine and preferred equity; and acquire direct ownership interests in assets and portfolios. “Scarp Ridge believes there will be opportunities to acquire distressed …
NEWTON, Mass. — Diversified Healthcare Trust (NASDAQ: DHC) has entered into three new management agreements for 66 of its seniors housing communities totaling 4,084 units. Charter Senior Living will manage communities in Florida, Maryland, Tennessee and Virginia; Oaks-CaraVita Senior Care will manage communities in Georgia and South Carolina; and Phoenix Senior Living will manage communities in Alabama, Arkansas, Kentucky, Missouri, North Carolina and South Carolina. These three agreements represent approximately 61 percent of DHC’s seniors housing operating portfolio (SHOP) communities to be transitioned from Five Star Senior Living Inc. (NASDAQ: …
MCKINNEY, Texas, and OCEANPORT, N.J. — The Proveer Senior Living family of companies has formed a joint venture with real estate investment firm East Gate Alliance to form a seniors housing acquisition pipeline. The two groups have been working collaboratively since earlier this year developing a partnership that also provides multiple lines of credit for pre-closing deal costs, due diligence expenses, and corporate overhead, as well as access to working capital for multiple years. “We interviewed several owner-operators in the seniors housing space before ultimately choosing to partner with Proveer,” …
ABILENE, Texas — Chris Coates, president and CEO of Abilene-based ER Senior Management, has retired from his position. Coates will continue to be a principal and board member in the Evergreen Cos. going forward. Brian Dowd is to take over as CEO in addition to his current responsibilities as COO and CFO. “I have every confidence in Brian taking the reins from here and I look forward to seeing the continuous growth of ER Senior Management,” says Coates, who founded the senior living management company with Dowd in 2010. ER …
IRVINE, Calif. — Griffin-American Healthcare REIT III and Griffin-American Healthcare REIT IV have entered into a definitive merger agreement in a tax-free, stock-for-stock transaction that will create a combined company with a gross investment value of approximately $4.2 billion in healthcare real estate assets. Upon completion of the merger, the newly combined company, to be renamed American Healthcare REIT, will be the 11th largest healthcare-focused real estate investment trust globally, according to the companies. The combined company plans to acquire the business and operations of American Healthcare Investors, the co-sponsor …
KANSAS CITY, Mo. — GlynnDevins, a Kansas City-based marketing firm focused on senior living, healthcare and financial services, has officially rebranded as Attane. Since 2017, the company has experienced a rapid growth trajectory with a five-year average annual growth rate of 33 percent. In the past eight months, GlynnDevins acquired two marketing technology businesses — Linkmedia 360 in October 2020 and Bluespire in February 2021. Since those acquisitions, the company has integrated operations, solutions and marketing professionals from all three companies. “A tremendous amount of planning, analysis and effort has …