TOLEDO, Ohio — Welltower Inc. (NYSE: WELL), a Toledo-based REIT and the largest owner of seniors housing in the United States, has announced a private offering of $900 million in exchangeable senior notes. The initial offering was initially priced at $750 million, meaning interest was presumably high when the total was raised by a third after just one day. The notes will accrue interest payable semi-annually in arrears on Jan. 15 and July 15 of each year at a rate of 3.125 percent per year. The notes will mature on July …
AUSTIN, Texas — Seniors Housing Business has earned three awards from the National Association of Real Estate Editors (NAREE) for the magazine’s work in 2023. The awards were given out Thursday, June 20 during an event at the Hyatt Regency Hotel in Austin. It was the 74th annual event for the organization, which “recognizes excellence in reporting, writing, and editing stories about residential and commercial real estate.” A panel of expert judges from the Medill School of Journalism at Northwestern University selected all winners. Medill’s Karen Springen chaired the panel. Of the three …
CHICAGO — Focus Healthcare Partners LLC has completed the final closing of Focus Senior Housing Fund II LP, a closed-end, commingled, discretionary real estate fund targeting private-pay seniors housing. The fund raised approximately $370 million in capital commitments. The fund is 20 percent larger than its predecessor vehicle despite a challenging fundraising period for commercial real estate, thanks to strong support from new and existing limited partners, according to Chicago-based Focus. Investors in the fund include university endowments, state and corporate pension funds, insurance companies, wealth managers, family offices and …
TOLEDO, Ohio — Welltower (NYSE: WELL), a Toledo-based REIT that is the largest owner of seniors housing in the country, has announced plans to transition a portfolio of 89 Holiday by Atria properties to new operators. Welltower acquired the bulk of the properties in 2021 as part of Atria Senior Living’s acquisition of former independent living giant Holiday Retirement, which at the time represented the seventh-largest seniors housing operator buying the third-largest. The American Seniors Housing Association, which tracks the 50 largest U.S. owners and operators of seniors housing annually, reports …
FREEHOLD, New Jersey and TAMPA, Fla. — Distinctive Living, a New Jersey-based seniors housing operator and developer that is expanding nationally, has acquired Validus Senior Living Management, a Tampa, Florida-based operator. Headquartered in Freehold, N.J., Distinctive Living currently operates 46 communities and has 14 under development via its development services platform, Distinctive Living Development LLC. More specifically, the company operates and is developing active adult, assisted living, independent living, and memory care communities throughout the country. Validus is an owner, operator and third-party manager of senior living communities throughout the Southeast. …
KING OF PRUSSIA, Pa. — HealthSignals, a King of Prussia-based tech company, has signed a national group purchasing agreement for telehealth with Premier Inc. The agreement allows Premier members to benefit from specially negotiated pricing and terms for Wi-Fi, cellular boost, dedicated internet access, fixed wireless and other telecommunications services, improving wireless infrastructure and facilitating telehealth and telemedicine applications.
ST. LOUIS and MIDDLETOWN, Pa. — Lutheran Senior Services (LSS), a faith-based, nonprofit operator based in St. Louis, has agreed to merge with Diakon Lutheran Social Ministries, a Middletown-based nonprofit operator. The agreement will bring Diakon’s senior living operations and four life plan communities under LSS management and form the 12th largest nonprofit seniors housing organization in the country, according to the two companies. The combined entity will features nearly $350 million in annual revenues across 12 life plan communities, one assisted living community and nine affordable seniors housing communities, as …
NEW YORK CITY — Dwight & Co. has expanded its seniors housing and healthcare financing solutions by successfully launching working capital revolving lines of credit, investing in new technology and broadening the depth of its healthcare team. The new team members include Paige Ela as managing director of healthcare finance and Itay Silverberg as director of analytics. Ela has over 20 years of experience working in healthcare at both public and privately held institutions, including SEC and FDIC-regulated firms. She joined Dwight following five years at Forbright Bank, serving as …
ST. LOUIS — Dover Cos., a St. Louis-based seniors housing developer, builder and operator, has launched Dover Health. The new company seeks to bridge the gap between traditional medical services and the evolving needs of aging populations. Dover Health’s service offerings include home health, hospice, private duty services, long-term care pharmacy, primary care and palliative care. These offerings are designed to address the unique needs of seniors across independent living, assisted living and memory care environments. Dover aims to maximize Medicare and Medicare Advantage benefits and foster a culture of …
LOUISVILLE, Ky. — John Moore has stepped down as CEO of Atria Management Co., a Louisville-based company and the second largest operator of seniors housing in the United States with over 40,000 units. The company has appointed Holly Belter-Chesser to replace him. The move is part of a planned leadership transition process. Belter-Chesser joined Atria in 2008 and has served in key leadership roles over the past 15 years, including most recently as chief financial officer and chief administrative officer. After 25 years with the company, Moore will remain a …