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 …
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,” …