CHARLOTTE, N.C. — Caring.com, a senior care referral service and review site based in Charlotte, has acquired SeniorAdvice.com. The SeniorAdvice website includes a directory of senior living communities and senior care options with consumer reviews and a SeniorScore index — a tool using local data to grade the senior-friendliness of U.S. cities and areas. Caring.com claims to be home to one of the largest senior living and senior care directories in the United States — with tens of thousands of business profiles, about 250,000 consumer reviews and a referral phone …
Company News
WEST DES MOINES, Iowa — Lifespace Communities has hired industry veteran Jesse Jantzen to the position of president and chief executive officer, effective April 1. Over a nearly 30-year career, Jantzen has held similar positions with Ascension Living and Elder Care Alliance, various leadership positions with Life Care Services and, most recently, was chief executive officer of Lutheran Life Communities. As Jantzen transitions into his new role, Larry Smith, the company’s interim president and CEO will transition back to his role as the company’s chief financial officer. Lifespace Communities, based …
CEO of Hunt Real Estate Capital is tasked with consolidating Lancaster Pollard, RED Capital Group and Hunt into a lending powerhouse. By Matt Valley It may not be a household name just yet, but ORIX USA is certainly making its mark in the world of commercial real estate finance. In January, the U.S. and Latin America business hub for Tokyo-based ORIX Corp. completed its acquisition of New York City-based Hunt Real Estate Capital LLC. Simultaneously, ORIX USA announced that it would combine Hunt with its two ORIX Real Estate Capital …
BALTIMORE — Capital Funding Group (CFG), a Baltimore-based lender, is expanding its off-balance-sheet, bridge-to-HUD lending program. The company focuses on healthcare and multifamily real estate loans. The program will expand CFG’ss capacity on a per-client and per-deal basis. In 2019, CFG provided more than $1 billion in bridge-to-HUD loans, HUD loans and accounts receivable lines of credit for healthcare clients.
Ventas Hires Veteran Executive Justin Hutchens to Oversee North American Seniors Housing Business
by Jeff Shaw
CHICAGO — Ventas Inc. (NYSE: VTR) has appointed J. Justin Hutchens as executive vice president, senior housing, North America, effective April 1. The appointment is part of a series of actions, including a realignment of current executive team responsibilities, to improve the company’s performance in seniors housing. In this newly created role, Hutchens will oversee the Chicago-based REIT’s seniors housing business in North America, which includes over 700 properties that provide high-quality environments for approximately 60,000 seniors. The company is the second largest owner of seniors housing in the United …
DALLAS and NEW BRAUNFELS, Texas — New Braunfels-based SilverPoint Senior Living, a newly formed management company led by CEO Shawn Corzine, has signed an expansion partnership with Journey Capital, a Dallas-based real estate development company led by hospitality entrepreneurs Anand Patel and Narayan Patel. With its investment in SilverPoint, Journey Capital’s co-founders will also assume roles as partners in the management company Journey Capital will work with SilverPoint to grow its development and acquisition pipeline and lean on the company for third-party management and consulting services. While SilverPoint is currently …
TOLEDO, Ohio — Welltower Inc. (NYSE: WELL), the largest REIT in the seniors housing space both by units and market cap, has launched welltowerLIVING, a wellness-focused housing concept for residents aged 55 and over. The brand was developed with the specific aim to fulfill the unmet need private-pay housing that is affordable for moderate-income seniors, many of whom will be Medicare eligible. The brand intends to offer a lower cost, technologically delivered wellness solution to residents, according to the Toledo-based REIT. This offering is limited in service relative to traditional …
CLEVELAND — OnShift, a Cleveland-based software company serving the healthcare industry, has acquired Avesta Systems Inc., a provider of talent acquisition software and services that streamline recruiting and hiring processes. Avesta’s software, now called OnShift Employ, manages the talent acquisition process, including candidate sourcing, recruitment, screening, hiring and onboarding. With the Avesta acquisition, OnShift further expands its footprint in the healthcare marketplace, by now also serving organizations in the emergency medical services (EMS) segment. The cost of the acquisition was not disclosed.
Welltower Forms Joint Venture with Thomas Jefferson University for Real Estate, Care Partnerships
by Jeff Shaw
PHILADELPHIA and TOLEDO, Ohio — Toledo-based real estate investment trust Welltower (NYSE: WELL) and Philadelphia-based Thomas Jefferson University and Jefferson Health have unveiled plans for a long-term strategic partnership. Under the deal, Welltower will buy an ownership stake in much of Jefferson’s real estate, while Jefferson will provide services at Welltower’s seniors housing properties. Welltower’s investment into Jefferson’s properties will allow the organization to reduce its fixed assets and redeploy the capital into other areas. Welltower also plans to help Jefferson accelerate its growth in ambulatory care through capital support …
DALLAS — Anand Patel and Narayan Patel have launched Journey Capital, a newly formed real estate development and acquisitions company based in Dallas. The company plans to start a pipeline of seniors housing properties, starting in Texas. The two principals originally started in the hospitality industry. “We take great pride in guest service, and we wanted to bring that passion into a new space,” says Anand. “Seniors housing is a natural fit, but we think the industry needs to evolve to meet its potential. Our goal is to build senior …