SAN FRANCISCO — Sequoia Living, a nonprofit organization that operates seniors housing and provides services to the elderly in Northern California, has hired Sara McVey as president and CEO. McVey succeeds David Berg, who retired in September. Bringing more than 20 years of marketing and senior living management experience to Sequoia Living, McVey previously served as CEO of Horizon House, a continuing care retirement community in Seattle. Prior to that, she held executive leadership roles at Mather LifeWays, an operator of senior living communities. McVey earned a bachelor’s degree in …
Company News
FORT WASHINGTON, Pa. — Acts Retirement-Life Communities, one of the nation’s largest nonprofit senior living organizations, has acquired an 80,000 SF office building in Fort Washington for an undisclosed price. Acts will move its headquarters to the building and will be the sole occupant. Acts will move its operations from West Point, just a few miles away. Both municipalities are northern suburbs of Philadelphia. Acts has operated out of its current headquarters since 1989. The office complex was built in 2006 and will serve Acts’ primary base of operations for …
IRVINE, Calif. — Healthpeak Properties Inc. (NYSE: PEAK), the Irvine-based REIT formerly known as HCP, has appointed Sara Grootwassink Lewis as an independent director to its Board of Directors. The appointment expands the board to eight directors, with an average director tenure of approximately five years.
New Senior Agrees to Sell Entire Assisted Living Portfolio for $385M, Focus Solely on Independent Living
by Jeff Shaw
NEW YORK CITY — New Senior Investment Group Inc. (NYSE: SNR), a New York-based seniors housing REIT, has agreed to sell its entire assisted living and memory care portfolio for $385 million. The portfolio comprises 28 properties across 14 states totaling 2,840 units. The deal will leave the company with 102 independent living properties and one continuing care retirement community.