TOLEDO, Ohio — Welltower (NYSE: WELL) today announced that it has essentially ended its operating relationship with Genesis HealthCare, terminating the 51 leases for Genesis-operated skilled nursing facilities. Concurrent with the lease cancelation, Welltower has agreed to sell 42 traditional skilled nursing facilities for $680 million to a joint venture with Aurora Health Network, in which Welltower will retain a participating preferred equity position. Welltower will also contribute its nine former PowerBack facilities, which provide higher acuity, short-stay rehabilitation and care, into its 80/20 joint venture with ProMedica at a …
LOUISVILLE, Ky. — Atria Senior Living, a Louisville-based operator of independent and assisted living communities across the United States and Canada, has assumed management of 21 independent living communities owned by New Senior Investment Group (NYSE: SNR). The communities are spread across nine states, concentrated in the Northeast, Midwest and West Coast. It is the first partnership between Atria and New Senior. Holiday Retirement previously operated the communities. Atria will manage these new communities through its Atria Retirement brand. While the brand debuted in Canada in 2014, these will represent …
KANSAS CITY, Mo. — GlynnDevins, a Kansas City-based marketing firm specializing in seniors housing, has acquired fellow seniors housing marketing firm Bluespire. This is the second marketing and technology company GlynnDevins has acquired in the past four months, following the October purchase of Linkmedia360. “Our clients demand smarter, more efficient methods to support lead generation and sales strategies,” says Chris Egan, GlynnDevins president and CEO. “As we diversify our business by serving core industries within our growth model, we will continue to explore and assess opportunities to advance our position …
NASHVILLE, Tenn. — Brookdale Senior Living Inc. (NYSE: BKD), the nation’s largest operator of senior living communities, has agreed to sell a majority stake in Brookdale Health Care Services (BHS) to HCA Healthcare for $400 million. The BHS unit offers home health, hospice and outpatient therapy services. BHS operates 57 home health agencies and 22 hospice agencies across 26 states, along with 84 outpatient therapy locations. Brookdale will retain a 20 percent stake in the business. HCA Healthcare is one of the nation’s leading providers of healthcare services, comprising more …
AUSTIN, Texas, and CHICAGO — After years of working together through an informal partnership, Chicago-based brokerage firm Evans Senior Investments (ESI) and Austin-based financial intermediary Carnegie Capital have announced a strategic joint-venture. The venture aims to bring both companies’ respective brokerage practices under a seamless platform for seniors housing and skilled nursing owners. “We have long seen the fragmented and opaque nature of the Capital Markets space in our industry; it is often frustrating and inefficient for the owners and buyers that we represent,” says Jeremy Stroiman, CEO of ESI. …
WEST PALM BEACH, Fla. — Former Welbrook Senior Living executive Douglas Brawn has announced the creation of a new seniors housing investment, development and operations company named Alta Senior Living. Based in West Palm Beach, with another office in Santa Monica, California, the company is slready seeking investment opportunities in Florida and California. Industry investment veteran Scott McCorvie recently joined the company as chief financial officer and executive vice president of investments “Senior living is going to experience exponential growth over the next five to 10 years, and I want …
SEATTLE and BELLEVUE, Wash. — Washington-based nonprofits seniors housing operators Transforming Age and SHAG (Sustainable Housing for Ageless Generations) have announced the companies have officially affiliated. Transforming Age and SHAG will continue to operate as their own, independent 501(c)(3) nonprofit organizations. The affiliation will be guided by a common board of directors. “As the number of older adults soars, bold moves are needed to ensure seniors have quality homes, access to services and opportunities to thrive no matter their level of income,” says Torsten Hirche, Transforming Age president and CEO. …
WALTHAM, Mass. — Benchmark Senior Living, a Waltham-based provider of senior living services in the Northeast, has appointed Jerry Liang to executive vice president and chief financial officer, effective immediately, and John Hartmayer to executive vice president and chief operations officer, as of March 8. Heather Frahm, the company’s chief marketing officer, was also promoted to executive vice president. Benchmark CFO Sarah Laffey will shift to a part-time consulting role with the company, overseeing its continuing care retirement communities’ (CCRCs) investments and working as a liaison with investors. Liang and …
WHEATFIELD, N.Y. — Calamar Inc., an active adult owner-operator based in the Buffalo suburb of Wheatfield, has rebranded its entire portfolio under the new name of Connect55+. The existing portfolio of 40 communities will offer an extended and more comprehensive active lifestyle program. The current development pipeline, which spans 12 states, will debut under the new banner. This initiative is the launching point for Connect55+ growth strategy to add another 6,000 units to its portfolio within the next 36 months.
SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NASDAQ: CTRE) has promoted David Sedgwick from chief operating officer to president. He replaces Greg Stapley, who will continue to serve as CEO and chairman. Sedgwick is part of the San Clemente-based REIT’s original management team. He will retain his COO role while serving as president. Sedgwick brings more than 20 years’ experience in the skilled nursing and seniors housing industries to his new role. Before helping to launch CareTrust, he served as chief human capital officer and president of corporate services at …