MCLEAN, Va. — Sunrise Senior Living has appointed Mary Kay Gribbons as chief human resources officer (CHRO) and Maria Davlantes as chief marketing officer (CMO). Gribbons brings more than 20 years of experience in human resources and operations across industries. Most recently, she served as the CHRO for Dean Foods, the largest dairy processor in the U.S. with $8 billion in revenue, more than 15,000 teammates and 70 plants. There she led a formal restructuring, developed programs to retain leaders and enhanced internal communication during a period of intense change. …
BOSTON — Boston Financial Investment Management has closed its Boston Financial Institutional Tax Credits 55 Limited Partnership (ITC 55), a $221 million Low Income Housing Tax Credit (LIHTC) fund. ITC 55 comprises 22 tax credit investments, with plans to finance more than 1,800 affordable housing units across 16 multifamily and six senior living communities. Nine institutional investors from the banking and insurance sectors participated in ITC 55, five of which were new investors with Boston Financial. Additionally, more than 30 percent of the development partners were nonprofit entities. The fund …
MARIETTA, Ga., and SAN MATEO, Calif. — Banko Design has acquired Warner Design Associates (WDA), a senior-living focused interior design firm based in San Mateo. The studio will be renamed Warner Design Associates – A BD Studio. Over the past 30 years, Cynthia and Mark Warner, the founders of WDA, built the interior design and procurement business in the senior living industry. Looking to pass the baton, WDA sought out Banko Design to take ownership of the company. Banko Design, a full-service interior design firm located in Marietta, will continue …
CHICAGO — Ventas Inc. (NYSE: VTR) and New Senior Investment Group Inc. (NYSE: SNR) have announced that New Senior stockholders have approved the previously announced merger agreement, under which Ventas will acquire New Senior as a subsidiary. Both companies are based in Chicago. The proposed $2.3 billion merger was announced in June. Approximately 99.8 percent of the votes cast were in favor of adoption of the merger. “We are pleased with the outcome of today’s special meeting and thank our stockholders for their support of the financially and strategically compelling …
MALVERN, Pa. — HMP Global, a Malvern-based healthcare event and education company, has acquired the annual Senior Living Executive Conference & Expo from Argentum, a national association supporting companies operating senior living communities. Financial terms of the agreement were not disclosed. Nearly 3,000 executives from 750 companies attend the annual. Participating companies represent decision-makers from for-profit and nonprofit operators, real estate investment trusts (REITs), private equity firms, capital providers, industry suppliers, media and academia. The 2022 event will resume its pre-COVID meeting pattern and take place May 16 to 18 …
NEWTON, Mass. — Diversified Healthcare Trust (NASDAQ: DHC) has entered into a new management agreement with Northstar Senior Living for five memory care communities and one assisted living community in California, and one assisted living community in Arizona, totaling 422 units. DHC has now entered into new management agreements representing approximately 84 percent of its seniors housing operating portfolio (SHOP) communities to be transitioned from Five Star Senior Living Inc. to other third-party operators, as previously announced. DHC expects to complete all the management transitions at the 108 communities by …
BOCA RATON, Fla. — DigitalBridge (NYSE: DBRG) has agreed to sell its entire wellness portfolio, consisting of 300 seniors housing, skilled nursing, medical office and hospital properties, in a deal valued at $3.2 billion. The buyers are Highgate Capital Investments and Aurora Health Network. Before announcing its rebrand to DigitalBridge in June, the Boca Raton-based real estate investment trust (REIT) was formerly known as Colony Capital. The sale is the final step of the company’s conversion of its portfolio to all digital infrastructure properties, such as cell towers and data …
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 …