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Steven Vick Retires from Pegasus, Chris Hollister to Take CEO Role

by Jeff Shaw

DALLAS — Steven Vick has retired as chairman and CEO of Pegasus Senior Living, a Dallas-based operator formed in 2016 to take over management of a portfolio of Welltower-owned seniors housing assets. Co-founder Chris Hollister has assumed both roles effective immediately. “I have been battling some health problems for several years and felt it was time to retire,” says Vick. “Chris has been my partner and co-founder in Pegasus since day one. I am confident he and his team will carry on the mission and the work to deliver quality …

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Lument Securities Advises on Employee Stock Ownership Plan Transaction for Midwest Nursing Home Provider

by Jeff Shaw

NEW YORK CITY — Lument Securities has assisted one of the largest groups of skilled nursing providers in the Midwest with the successful sale and transition of approximately 36 operating affiliates, consisting of approximately 4,000 licensed beds, to a newly formed employee stock ownership plan (ESOP). As a result of the transaction, the company is now fully employee-owned through its employee stock ownership trust. “ESOP transactions are gaining in popularity in recent years and can serve as an effective solution for operating company owners,” says Laca Wong-Hammond, head of M&A …

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Merrill Gardens Launches Middle-Market Truewood Brand

by Jeff Shaw

SEATTLE — Merrill Gardens, a Seattle-based owner-operator has launched a new brand aimed at middle-market seniors named Truewood by Merrill. As the roll out continues over the coming months there will be 23 Truewood communities located in 13 states. The Truewood by Merrill communities are former Blue Harbor communities that Merrill purchased in 2019 in a joint venture with ReNew REIT. The main changes in the communities are in operations, with the new brand designed for seniors whose annual income ranges from $40,000 to $50,000. Monthly rental rates for Truewood …

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Buckner Retirement Services Promotes Charlie Wilson to President

by Jeff Shaw

DALLAS — Buckner Retirement Services, a Dallas-based nonprofit operator, is implementing a series of leadership promotions as part of a long-term strategic plan. The first was for Charlie Wilson, who was promoted from senior vice president to president. Wilson started at Buckner 21 years ago as the director of quality improvement and regulatory compliance. Under his leadership, the nonprofit provider doubled in size, opening two new communities and acquiring a third. Albert Reyes, president/CEO of the parent company Buckner International, retains the chief executive officer role for the retirement division. …

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Five Star Restructures Management Agreements with DHC, Plans to Exit Skilled Nursing Sector

by Jeff Shaw

NEWTON, Mass. — Five Star Senior Living Inc. (NASDAQ: FVE) has unveiled a new strategic plan to reposition its senior living management business to focus on larger independent living, assisted living and memory care communities, as well as standalone active adult and independent living communities. As part of the implementation of this new plan, Five Star is amending its management arrangements with Diversified Healthcare Trust (NASDAQ: DHC) to allow for the transition of 108 smaller senior living communities with approximately 7,500 living units, which Five Star currently manages for DHC, …

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Locust Point Capital Closes $428M Seniors Housing Debt Fund

by Jeff Shaw

RED BANK, N.J. — Locust Point Capital has closed Locust Point Seniors Housing Debt Fund II, the firm’s second fund focused on its direct lending strategy to the seniors housing and care sector. The Red Bank-based firm launched its $312 million debut fund in 2016. Fund II closed above its target at $428 million after receiving strong interest from a diverse group of investors, including pension funds, endowments, foundations, insurance companies and wealth advisors. Approximately three quarters of the commitments came from United States-based investors, with the remaining coming from …

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WoodBine Senior Living Announces Leadership Changes

by Jeff Shaw

TAMPA, Fla. — WoodBine Senior Living, a Tampa-based owner-operator, has announced a series of leadership changes. Donna LaRotonda, Chris Behm and Daryl McCombs are the new owners and managing partners of the company. Co-founders and former managing partners, Gloria Brock and Steve Gaylor, are taking on strategic advisory roles while also serving as director of sales and director of development, respectively. LaRotonda is a nine-year employee of WoodBine, having most recently served as senior executive director of Spring Village at Galloway. She has more than two decades of marketing and …

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Sentrics Adds Aging Innovation Strategist Sarah Thomas to Advisory Council

by Jeff Shaw

DALLAS — Sentrics, a Dallas-based seniors housing technology firm, has added Sarah Thomas to its advisory council. A global aging expert, Thomas brings nearly 20 years of knowledge transforming the aging experience to the council, which provides the Sentrics management team guidance and insights about the trends impacting the services and care of senior living. Thomas’ technology perspective is shaped by her experience helping some of the largest senior living companies develop and implement strategic change management initiatives and innovative human potential products. Combining corporate, entrepreneurial and consulting experience with …

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Discovery Senior Living Hires Hilary Bullard as President of Its New Morada Senior Living Brand

by Jeff Shaw

BONITA SPRINGS, Fla. — Discovery Senior Living, an owner-operator based in Bonita Springs, has hired Hilary Bullard as the first-ever president of its Morada Senior Living brand. Bullard brings more than 15 years of experience managing seniors and multifamily housing assets for some of the industry’s most prominent investors. She most recently served as vice president of seniors housing asset management for Healthpeak Properties, a post she occupied since 2019. Bullard began her career with J.P. Morgan where she oversaw top-tier and middle-market seniors housing communities across multiple states. She …

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Discovery Senior Living Launches Centralized Contact Center to Streamline Sales

by Jeff Shaw

BONITA SPRINGS, Fla. — Owner-operator Discovery Senior Living has launched a centralized contact center at its Bonita Springs home office. The center will position a team of inside sales specialists who will engage with all new prospects, create more detailed customer profiles and share information based on each prospect’s specific needs and desires. Specialists will then facilitate direct connections with senior lifestyle counselors from the Discovery Senior Living communities that interest them. Discovery expects the move increase the percentage of documented leads, improve gathering of contact information, grow the provider’s …

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