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,” …
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 …
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 …
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 …
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’ …
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.
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 …
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 …
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 …