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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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Company NewsFeaturesMemory CareNews

Judge Dismisses All Charges Against Silverado, CEO Shook

by Jeff Shaw

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 — …

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AcquisitionsCompany NewsNewsOperations

AgeWell Solvere to Manage 14-Property Sonata Portfolio, Merge Leadership Teams

by Jeff Shaw

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 …

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AcquisitionsCompany NewsNewsTechnology

SilverAssist Acquires Oasis Senior Advisors in Third-Party Services Merger

by Jeff Shaw

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 …

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AcquisitionsCompany NewsNews

Kisco, Balfour Partner to Form 35-Community Company

by Jeff Shaw

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 …

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Company NewsFinanceNews

Sonida Completes Loan Modifications with Fannie Mae in Forbearance Agreement

by Jeff Shaw

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. …

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AcquisitionsCompany NewsNewsTechnology

Referral Service ZNest.com Acquires Odom Senior Care, Hires Lamar Odom as Chief Creative Officer

by Jeff Shaw

LAS VEGAS — ZNest.com, a Las Vegas-based seniors housing referral platform. has acquired Odom Senior Care, which was launched by two-time NBA champion and former reality TV star Lamar Odom earlier this year to provide referral services for senior care. As part of the deal, Odom will assume the position of chief creative officer at ZNest.com. Odom embarked on a mission to demystify the complex world of senior living and care after recognizing the challenges families face when searching for quality, affordable care solutions. Inspired by Odom’s 96-year-old grandmother, Odom …

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Company NewsNewsSkilled NursingTexas

Regency Transitions 63-Property Skilled Nursing Portfolio to Nonprofit Structure Under Wellsential Health Banner

by Jeff Shaw

VICTORIA, Texas — Regency Integrated Health Services has rebranded its Texas-based portfolio of 63 skilled nursing facilities as Wellsential Health properties. The properties are all being transitioned to a nonprofit model as part of the change. Wellsential Health has more than 7,000 team members and 6,000 patients and residents. The organization claims it is now the largest family of nonprofit skilled nursing facilities in Texas.

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Diversified Healthcare Trust Appoints Matthew Brown as CFO to Handle Pending Debt Maturities

by Jeff Shaw

NEWTON, Mass. — Diversified Healthcare Trust (NASDAQ: DHC) has made changes to its Board of Trustees and executive leadership team, amonth other actions, to address its near-term capital needs, including DHC’s pending debt maturities. Phyllis Hollis has been appointed as an independent trustee of the DHC board. She previously worked as an executive at an investment bank and has extensive experience in finance and executing capital markets transactions. She will serve on DHC’s audit committee and compensation committee, which she will chair. In addition, DHC has appointed Matthew Brown as …

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Company NewsDevelopmentNewsTechnology

Omega Launches Senior Living Transformation Center to Showcase New Technologies

by Jeff Shaw

ATLANTA — The Senior Living Transformation Co. (SLTC) has acquired a 113-unit assisted living and memory care community in partnership with Omega Healthcare Investors (NYSE: OHI).  The Senior Living Transformation Center, known as The Rivers at Maryland Farms, is the first acquisition and demonstration pilot for the newly formed partnership. The objective of the partnership is to create both an innovation center for technology and data solutions for the seniors housing industry and to demonstrate a new model of care within seniors housing. SLTC was recently formed by leading senior …

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