ORLANDO, Fla.— CNL Healthcare Properties, a real estate investment trust (REIT) focused on seniors housing and healthcare facilities, has named Kevin Maddron chief financial officer, treasurer, and chief operating officer. He will also continue to serve as senior managing director of asset management for CNL Financial Group, overseeing the company’s seniors housing and healthcare real estate portfolio.
Company News
MADISON, N.J. — Prudential Real Estate Investors (PREI) has completed the capital raise of Senior Housing Partners V (SHP) with a total of $629 million in capital commitments. SHP is the fifth in a series of dedicated, closed-end funds designed to invest in the seniors housing industry. PREI is the real estate investment and advisory business of Prudential Financial. (NYSE: PRU).
CHATTANOOGA, Tenn. — Chattanooga-based healthcare finance company Contemporary Healthcare Capital and Atlanta-based lender Community & Southern Bank (CSB) have formed a strategic alliance to offer a wider variety of financing options for construction, acquisition and refinances in the seniors housing industry.
Brookdale Appoints Mark Parrell and Lee Wielansky to Board Of Directors with Sandell Approval
by Jeff Shaw
NASHVILLE, Tenn. — Brookdale Senior Living Inc. (NYSE: BKD) has appointed of Mark J. Parrell and Lee S. Wielansky to its board of directors as Class III directors. The two appointees were selected with approval of Sandell Asset Management Corp., a shareholder group within the company that was pushing for changes on the board and for Brookdale to spin off its real estate portfolio into a REIT.
WEST POINT, Pa. — Senior living provider ACTS Retirement-Life Communities has unveiled a multi-year strategic plan to renovate and reposition its portfolio of continuing care retirement communities (CCRCs). The renovations are expected to total approximately $300 million over the next three years.