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Retirement Unlimited Acquires Brandywine Living, Forming 59-Property East Coast Owner-Operator

by Jeff Shaw

ROANOKE, Va., and MOUNT LAUREL, N.J. — Roanoke-based Retirement Unlimited Inc. (RUI) has acquired Mount Laurel-based Brandywine Living. The combined companies total 59 communities and 6,739 units of independent living, assisted living and memory care. Terms of the transaction were not disclosed. Brandywine’s 31 senior living communities are predominately concentrated in New Jersey, with additional communities located in Connecticut, Delaware, Maryland, New York and Pennsylvania. Following the transaction, the communities will continue to operate under the Brandywine Living brand to ensure continuity for both residents and staff.  RUI currently manages …

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Glenmeadow Announces New Board Leadership, Staff Promotions

by Jeff Shaw

LONGMEADOW, Mass. — Glenmeadow Inc., a Longmeadow-based provider of senior retirement options, has elected new leadership and new members to its board of directors.  Michael Tremble, CEO of Valley Communications, will serve as chair. Kelly Koch, probate and family law attorney with Raipher, will serve as vice chair. Erin Koebler, executive director of the East Longmeadow Council on Aging, will serve as clerk. Retired banking executive Mary Meehan serves as treasurer. The board of directors also welcomed three new members: Barbara Buddington, Glenmeadow resident; Rory O’Brien, vice president, chief compliance …

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AcquisitionsCompany NewsIllinoisMissouriNews

Lutheran Senior Services Agrees to Acquire St. Louis Home Health

by Jeff Shaw

ST. LOUIS — Lutheran Senior Services (LSS), a nonprofit provider of care, services and senior living for older adults in Missouri and Illinois, has agreed to acquire St. Louis Home Health (SLHH) for an undisclosed price. LSS, which already provides home health services among its offerings, cited the SLHH’s orthopedic expertise as a key reason for the acquisition, as well as its extended footprint in Illinois. The transaction is expected to close at the end of this month.

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Covenant Living CEO Terri Cunliffe Announces Retirement Plans

by Jeff Shaw

SKOKIE, Ill. — Covenant Living Communities and Services, a nonprofit, faith-based senior living organization headquartered in Skokie, has announced that CEO Terri Cunliffe will retire in the spring of 2024 from Covenant Living after 34 years with the organization. Cunliffe started her career in 1987 as an administrator in training at Covenant Living of Golden Valley in the Minneapolis metropolitan area. While working to obtain her healthcare administrator license, she was asked to move to Florida to help open a new assisted living community at Covenant Living of Florida. She …

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Former Rose Villa CEO Vassar Byrd Takes the Reins at Kendal

by Jeff Shaw

NEWARK, Del. — Kendal, a Newark based nonprofit owner of large-scale continuing care retirement communities (CCRCs), has hired Vassar Byrd as CEO. She will join the organization in January. Byrd previously led Rose Villa, a CCRC in Portland, Oregon, through a 10-year transformation before announcing her plans to move on this summer. She also recently served as president of LeadingAge Oregon’s Board of Directors. Amy Harrison, who has served as interim CEO since the beginning of the year, will resume her role as chief financial officer.

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Seniors Housing Tech Company K4Connect Names Mike Weller as CEO

by Jeff Shaw

RALEIGH, N.C. — K4Connect, a Raleigh-based provider of enterprise technologies for the senior living industry, has appointed Mike Weller as CEO.  Weller assumes this role after serving as chief operating officer of K4Connect, and will oversee the company’s growth strategy and continued development of its FusionOS integration and data platform. K4Connect’s co-founder and former CEO, Scott Moody, will continue to work closely with Weller through the transition and will continue to serve on the company’s board of directors. “Over the past decade, Jonathan Gould and I embarked on a journey …

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Company NewsDevelopmentFrom The Magazine

Confluent Builds for the Future

by Jeff Shaw

With a $500 million pipeline, the developer is one of the few currently working on ground-up construction projects. By Jeff Shaw With borrowing rates at a 20-year high, the cost of construction extremely high in its own right, and suitable development sites becoming harder and harder to find, very few seniors housing builders are breaking ground right now. In the private-pay seniors housing segment, year-over-year inventory growth nationally was 1.3 percent in the third quarter of this year, according to NIC MAP Vision. That figure is near the smallest year-over-year …

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NIC Awards $3M to Milken Institute to Establish Aging Innovation Collaborative

by Jeff Shaw

SANTA MONICA, Calif. — The National Investment Center for Seniors Housing & Care (NIC) has awarded $3 million to the Santa Monica-based Milken Institute. The funds will be used to establish the Aging Innovation Collaborative (AIC) within the Institute’s Center for the Future of Aging, which advances healthy longevity and financial security through policy, research, convenings and multisector partnerships. The AIC will engage experts to develop new models of housing, healthcare and community that meet the needs of a growing U.S. population of older adults. By removing silos between industries …

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MBK Real Estate Appoints Kenji Iwai as Chairman, President

by Jeff Shaw

IRVINE, Calif. — MBK Real Estate LLC (MRE), an Irvine-based developer of seniors housing, multifamily and industrial real estate, has appointed Kenji Iwai as the company’s next chairman of the board and president. Iwai succeeds Katsuo “Katsu” Yamanaka, who has led the company’s growth, including its entry into the logistics market, since 2017.  Iwai, who joined MRE’s parent company Mitsui & Co. Ltd. in 1997, will be responsible for the overall management of MRE. He will oversee the development and execution of the company’s strategic initiatives and goals, including its …

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Healthpeak Properties, Physicians Realty Trust Agree to $21B Merger

by Jeff Shaw

DENVER AND MILWAUKEE — Two healthcare REITs, Denver-based Healthpeak Properties (NYSE: PEAK) and Milwaukee-based Physicians Realty Trust (NYSE: DOC), have agreed to enter into an all-stock merger agreement that is valued at roughly $21 billion. Under the terms of the agreement, each share of Physicians Realty Trust common stock will be converted into 0.674 of a share of newly issued Healthpeak common stock. The combined entity will feature a portfolio of roughly 52 million square feet of healthcare assets. On a pro-forma basis, Healthpeak and Physicians Realty Trust shareholders will …

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