NEW YORK CITY — ORIX Real Estate Capital, a New York-based business unit of ORIX Corp. USA, has rebranded as Lument. In making this change, Lument is unifying its legacy brands — Hunt Real Estate Capital, Lancaster Pollard, and RED Capital Group — under a single banner. ORIX acquired RED in 2010, Lancaster Pollard in 2017 and Hunt in 2019. The company announced plans earlier this year to combine the three real estate finance companies under one banner. “We believe that Lument has something unique to offer,” says Terry Suzuki, …
Company News
KANSAS CITY, Mo. — GlynnDevins, a seniors housing marketing firm based in Kansas City, has acquired Linkmedia 360, a digital marketing company based in the Cleveland area. The move improves GlynnDevins’ portfolio of products and services that effectively support sales and lead generation for its clients, according to the buyer. “GlynnDevins’ growth involves a consistent focus on improving the efficiency and value of our marketing solutions,” says Chris Egan, president and CEO of GlynnDevins. “Linkmedia 360 strengthens our digital capabilities and platform expertise. The addition of this business is the …
TOLEDO, OHIO — Welltower Inc. (NYSE: WELL) has sold three separate portfolios totaling $1.3 billion in value. The portfolios comprise 11 seniors housing facilities in the Western United States, six seniors housing communities in Massachusetts and 20 outpatient medical facilities across five states. Separately, Welltower also announced on Monday a strategic personnel change in the C-suite as the Toledo-based REIT promoted Shankh Mitra from chief operating officer to CEO effective immediately. Tom DeRosa is stepping down from his role as CEO after six years. Mitra will also retain his chief …
TOLEDO, Ohio — Welltower Inc. (NYSE: WELL) has promoted Shankh Mitra from chief operating officer to CEO. He will replace Tom DeRosa, who is stepping down after more than six years in the role. Mitra was also serving as chief investment officer, and will retain that title. No specifics were given as to why DeRosa was leaving. “In April, we elevated Shankh to the roles of vice chair and COO with the intent that he would ultimately succeed Tom as CEO,” says Jeffrey Donahue, the company’s lead independent director. “Since …
NASHVILLE, Tenn. — Unigue, a Nashville technology provider and the parent company of seniors housing tech platform Touchtown, has acquired Visitor & Community Television Corp. (VCTV), which specializes in communication technology. The combined VCTV and Touchtown team will operate under the Touchtown brand led by current senior vice president of senior living Mike Rethage. VCTV’s technology solutions will be merged with Touchtown’s, providing a product range including mobile community apps, resident room entertainment, common room technology and support services.
NEW YORK CITY and WASHINGTON, D.C. — Dwight Capital, a private commercial real estate lender based in New York City, has acquired Love Funding, the Washington, D.C.-based HUD lending subsidiary of Midland States Bank. Both companies lend within the seniors housing sector. As a result of this acquisition, Dwight Capital claims it is now the largest dedicated HUD multifamily and healthcare financing firm in the nation. The Love Funding platform will be integrated within Dwight Capital. Midland States Bank will retain the existing Love Funding servicing portfolio. Terms of the …
Alzheimer’s Association Awards National Certificate of Recognition to Discovery’s Memory Care Program
by Jeff Shaw
BONITA SPRINGS, Fla. — The Alzheimer’s Association has awarded a national Certificate of Recognition to Discovery Senior Living for the company’s SHINE Memory Care program. Discovery is a seniors housing owner-operator based in Bonita Springs. The company’s portfolio totals 15 communities in 13 states. The distinction comes following a comprehensive review of the program curriculum, which uses scientific principles to promote engagement, comprehension and lifestyle quality for seniors living with dementia. Discovery is one of eight providers nationally to receive this recognition. The Alzheimer’s Association Dementia Care Practice Recommendations use …
CHICAGO and NASHVILLE, Tenn. — Ventas (NYSE: VTR), a Chicago-based REIT and one of the largest owners of seniors housing in the country, has restructured its master lease with Brookdale (NYSE: BKD), the largest seniors housing operator in the country, in response to the challenges presented by the COVID-19 pandemic. Ventas owns 120 Brookdale-managed communities totaling 10,174 units. As part of the restructuring, Brookdale sold five communities that it both owned and operated to Ventas, but will continue to operate those properties. “These agreements represent a significant step forward toward …
KNOXVILLE, Tenn. — Propel Insurance, a leading retail insurance agency and a portfolio company of Flexpoint Ford, has acquired HealthCare Services (HCS), a boutique risk management and insurance consulting firm based in Knoxville. HCS specializes in serving senior care organizations. The combined agency expects to generate more than $120 million of annual revenue in 2020 and will have seven offices across the country. The acquisition will expand Propel’s existing senior living practice, as well as the Charlotte, North Carolina-based company’s geographic spread. Ed Sims and Taylor Preston, senior partners at …
SARASOTA, Fla. — LifeStar Living LLC, a Sarasota-based seniors housing operator, has announced it will officially launch on July 6. Celebrity sports agent David Falk, who represented Michael Jordan and over 100 other players, founded the company. Falk hired Joel Anderson to lead it as managing principal. Anderson most recently was CEO of Village On The Isle seniors housing community in Venice, Florida. He serves as the chair of LeadingAge Florida as well as an appointee to the Florida governor’s Continuing Care Advisory Council. His background includes over 20 years …