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ER Senior Management CEO Chris Coates Announces Retirement, Brian Dowd to Take Reins

by Jeff Shaw

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 …

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AcquisitionsCompany NewsNews

Griffin-American Healthcare REIT III, IV to Merge, Acquire American Healthcare Investors

by Jeff Shaw

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 …

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Seniors Housing Marketing Firm GlynnDevins Rebrands as Attane Following Acquisitions

by Jeff Shaw

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 …

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Chateau of Harveston in Temecula, Calif. (pictured)
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Ventas to Acquire New Senior Investment Group in $2.3B Deal

by Jaime Lackey

CHICAGO AND NEW YORK CITY — Ventas Inc. (NYSE: VTR) has entered into a definitive merger agreement to acquire New Senior Investment Group (NYSE: SNR), a New York City-based owner of independent living communities across the country. The deal between these two seniors housing real estate investment trusts (REITs) is valued at $2.3 billion, including $1.5 billion of debt. The transaction will bolster the number of independent living communities for Ventas, which as of March 31 owned (fully or partially) 1,200 properties. As of first-quarter 2021, 48 percent of Ventas’ …

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Meridian Capital Group, Barings Launch NewPoint Real Estate Capital

by Jeff Shaw

PLANO, Texas — A partnership between Meridian Capital Group and Barings has launched NewPoint Real Estate Capital. The new company, based in Plano, will focus on multifamily finance options, including seniors housing. The company replaces Barings Multifamily Capital, which the joint venture recently acquired. The company has not unveiled its full staff yet, but in an email to clients CEO David Brickman suggested it will include “a slew of industry veterans.” NewPoint will operate as an independent company, separate from Meridian and Barings.

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AcquisitionsCompany NewsIndependent LivingNews

Holiday Retirement Sells Operations Business to Atria, 86 Communities to Welltower for $1.6B in Megadeal

by Jeff Shaw

LOUISVILLE, Ky., WINTER PARK, Fla., and TOLDEO, Ohio — In a blockbuster deal for seniors housing, the seventh-largest operator of seniors housing in the United States (Atria Senior Living) will acquire the third-largest (Holiday Retirement), with the largest owner in the country (Welltower) buying up a large portfolio of the affected assets. Atria, a privately held seniors housing operator based in Louisville, has agreed to buy the operations business of Winter Park-based Holiday Retirement. Meanwhile, Toledo-based REIT Welltower (NYSE: WELL) will buy the 86 properties that Holiday owns and self-manages …

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AcquisitionsCompany NewsNews

Seniors Housing Advisor Spectrum Consultants Acquires Holleran Consulting

by Jeff Shaw

GASTONIA, N.C. — Spectrum Consultants, a Gastonia-based advisor to senior living communities, has acquired Holleran Consulting, a community engagement research and consulting firm specializing in resident and employee surveys for senior living. The goal of the acquisition is to diversify Spectrum’s services, according to the buyer. “Holleran provides an avenue for us to develop strategic marketing and positioning for senior living communities based on feedback and the voice of residents and staff — the true essence of a community’s aspirational culture,” says Hoppy Sell, Spectrum’s president. The Holleran suite of …

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Greystone, Monticello to Form Joint Venture for Healthcare Capital Solutions

by Jeff Shaw

NEW YORK CITY and WARRENTON, Va. — Greystone, a national commercial real estate finance firm, and Monticello, which provides specialized private real estate and asset-based lending, have announced plans to combine their seniors housing and healthcare lines of business under a new joint venture. The joint venture will provide capital finance products and services for the seniors housing and healthcare industry. Greystone is the top healthcare lender in the United States for FHA-insured loans, originating over $3 billion overall in seniors housing and healthcare finance across FHA, Fannie Mae, Freddie …

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Erickson Living Rebrands as Erickson Senior Living

by Jeff Shaw

BALTIMORE — As a part of its long-term growth and business strategy, Erickson Living today unveiled its plan to evolve its brand identity and change the company’s name to Erickson Senior Living. The rebranding comes as the company, which oversees a portfolio of more than $1 billion, continues to invest heavily to enhance and expand its network of senior living communities and directly connect its offerings to a population anticipated to double to 98 million by 2060. Based in Baltimore, Erickson Senior Living’s portfolio consists of 20 communities in 11 …

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CFG Bank Launches Workforce Development Program for Healthcare Workers

by Jeff Shaw

BALTIMORE — CFG Bank (CFGB), a Baltimore-based lender, has launched the Jack and Nancy Dwyer Workforce Development Program. The non-profit organization seeks to help resolve the effects of systemic poverty and inequality and help fix the turnover crisis and burnout due to staffing shortages in the healthcare industry by creating a pathway to advance career opportunities in the nursing profession. CFGB donated $1 million to jumpstart the program. As part of this initiative, CFGB also announced a partnership with and $1 million donation to Living Classrooms, a nonprofit serving Baltimore …

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