CHARLOTTE, N.C. — Caring.com, a senior living referral and review service has acquired SeniorHousingNet.com, a senior living and active adult lifestyle website that was formerly part of the realtor.com network. In addition to active adult properties, SeniorHousingNet.com includes information and directory listings for senior living, in-home care, adult day care, respite care and skilled nursing. “Acquiring SeniorHousingNet.com enables us to expand digital marketing opportunities for our partner network of senior living communities and in-home care agencies, as well as SeniorHousingNet.com’s current advertisers,” says Caring.com CEO Jim Rosenthal.
Company News
CHICAGO — Ventas Inc. (NYSE: VTR) released its quarterly report last week, combining an update on its handling of the COVID-19 pandemic with an announcement about restructuring its agreements with one of its main seniors housing tenants. The Chicago-based REIT has terminated its master lease with independent living giant Holiday Retirement, moving the 26 Ventas-owned, Holiday-operated communities to individual management contracts. Holiday paid $100 million to Ventas as part of the master lease cancelation. Under the new management agreement for the 26 Holiday communities, Ventas will pay Holiday a management …
Aaron Becker to Lead ORIX Seniors Housing Division Following Merger of Lancaster Pollard, RED, Hunt
by Jeff Shaw
PHILADELPHIA — ORIX Real Estate Capital (OREC) has appointed Aaron Becker as head of production for seniors housing and healthcare. Based in the firm’s Philadelphia office, Becker will lead seniors housing and healthcare originations for OREC, which is based in Columbus, Ohio. The new entity will combine the forces of Lancaster Pollard, RED Capital Group and Hunt Real Estate Capital. ORIX Corp. USA acquired the three entities over recent years. Prior to being named head of production, Becker was regional manager in the Northeast for Lancaster Pollard, and served as …
ATLANTA — WelcomeHome Software, an Atlanta-based tech company, has launched a new customer relationship management (CRM) product targeting the seniors housing industry. Development of the product took two years, and senior living experts were brought in to drive the process. Vitality Senior Living in Brentwood, Tennessee, was one of the first companies to pilot the software. “When we set out to build WelcomeHome, our mission was to make the lives of sales and marketing teams easier while improving the economics and operation of their communities,” says John Lariccia, WelcomeHome’s co-founder …
NASHVILLE, Tenn. — Brookdale Senior Living Inc. (NYSE: BKD) completed the first quarter of 2020 with $369.5 million in profits, largely due to a series of asset sales, according to the company’s quarterly report. Brookdale now has $500.7 million cash on hand that it may need to ride out the negative effects of the COVID-19 pandemic. The Nashville-based company, which is the largest operator of seniors housing in the United States reported it incurred $10 million in coronavirus-related expenses in the first quarter. Given that the full effect of the …
ANNAPOLIS, Md. — Bob Kramer, the founder of the National Investment Center for Seniors Housing & Care, has announced he is launching a consulting firm for the aging-services industries named Nexus Insights. Based in Annapolis, NIC is a nonprofit data and reporting service that works exclusively with seniors housing. Kramer served as the organization’s CEO for 27 years before retiring from the role, but still serves as a strategic advisor. His new company is also based in Annapolis. In addition to seniors housing companies, Nexus will work with technology, healthcare, …
TOLEDO, Ohio — Welltower (NYSE: WELL), the largest seniors housing REIT in the country by market cap, has promoted two of its C-Suite executives. In addition to his existing title of chief investment officer, Shankh Mitra is now chief operating officer of the company. His secondary title, formerly executive vice president, was also upgraded to vice chair. Tim McHugh will maintain his title of chief financial officer, but his secondary title was adjusted from senior vice president to executive vice president. CEO Tom DeRosa’s contract was also extended, though details …
LONDON — Welltower (NYSE: WELL) has dropped it’s bid to buy London-based skilled nursing group Barchester Healthcare, according to British news outlet The Times. The Toldeo, Ohio-based REIT had bid 2.5 billion pounds, approximately $3.1 billion based on this morning’s exchange rate. Barchester operates over 200 skilled nursing facilities and seven hospitals totaling more than 12,000 beds. Welltower pulled its bid due to the chaos surrounding the COVID-19 pandemic, according to the Times report. Neither Welltower nor Barchester have publicly commented on the development. Other American investors reportedly interested in purchasing …
COLUMBUS, Ohio — Seniors housing and healthcare industry veterans Steve Kennedy and Kass Matt have launched a new finance venture, VIUM Capital. Based in Columbus, the company is an independent financial services firm focused on providing capital to the seniors housing and healthcare sectors. The firm will offer FHA/GNMA financing, bridge loans, and advisory services, as well as Fannie Mae and Freddie Mac agency financing. Prior to founding VIUM Capital, Matt spent 14 years at Lancaster Pollard, including the last five years as the firm’s president. Kennedy spent 18 years …
DALLAS — Three: Living Architecture, a Dallas-based architecture firm with a specialty in seniors housing, has rebranded as simply “three” while expanding and promoting its team. Longtime team member Christine Cook was promoted to the role of principal, while Steven Knox was added as designer and senior job captain, and Catherine Wilson was hired as project manager. Cook first joined three in 1998. In her role as principal, she will guide the design and development process. Cook also continues to spearhead the firm’s internal education committee, called 3.edu, and partner …