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 …
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 …
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 …
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 …
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 …
LOS ANGELES — A Los Angeles County judge has dismissed all charges against memory care giant Silverado, as well as its CEO Loren Shook and two other executives. Los Angeles County District Attorney George Gascón brought the charges in March, and they were related to 14 COVID-related deaths at Silverado communities. The complaint claimed that Silverado hadn’t followed proper clinical protocols when admitting a resident in March 2020, which lead to an outbreak at one of the operator’s facilities. The charges were shocking at the time they were brought — …
NORTH PALM BEACH, Fla. — AgeWell Solvere Living, a North Palm Beach-based operator, has assumed management of the entire, 14-property portfolio of Sonata Senior Living. The move will function as a merger, integrating both organizations’ leadership teams. The merger of management and leadership teams is aimed at enhancing the quality and depth of support and offerings that the combined company will provide to investors, residents and team members. The company will continue to operate out of its offices in North Palm Beach and will retain the Sonata Senior Living office …
NEW YORK CITY — SilverAssist, a New York-based provider of senior care resources and solutions, has acquired Oasis Senior Advisors, a national franchise network spanning over 130 locations across the United States. The strategic move was in response to the growing need for comprehensive and personalized senior care solutions in a rapidly aging society, according to SilverAssist. SilverAssist is a comprehensive senior assistance platform, connecting seniors and their families with trustworthy information, expert guidance and quality services to simplify senior life.Founded in 2014 by Tim Evankovich, Oasis Senior Advisors provides …
LOUISVILLE, Colo., and CARLSBAD, Calif. — Balfour Senior Living, based in Louisville, has become an affiliate of Kisco Senior Living, based in Carlsbad. Andy Kohlberg, the CEO and founder of Kisco, and Michael Schonbrun, the CEO and founder of Balfour along with co-founder and general counsel Susan Juroe, broke the news in a joint statement. Since their founding 30 years ago, the two luxury seniors housing companies have followed parallel paths. The combination of the two companies will be geographically complementary, according to Balfour and Kisco executives. The new entity …
DALLAS — Sonida Senior Living Inc. (NYSE: SNDA), a Dallas-based owner-operator of communities and services for seniors, has entered into loan modification agreements with Fannie Mae covering all 37 of its communities mortgaged through the government-sponsored entity. On June 29, Sonida entered into a comprehensive forbearance agreement with Fannie Mae as the first of a two-step process to modify all existing mortgage agreements with Fannie Mae. The modifications finalize the comprehensive restructuring. The terms of the Fannie Mae loan modifications were consistent with those set forth in the forbearance agreement. …