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American Healthcare REIT Acquires Eight Seniors Housing Communities for $696M

by Hayden Spiess

IRVINE, Calif. —American Healthcare REIT Inc. (NYSE: AHR) has acquired eight senior housing communities in six states for $696 million. The properties, which collectively comprise 867 units and were built between 2020 and 2022, are located in Massachusetts, Connecticut, New Jersey, Pennsylvania, Delaware and Georgia. Newmark acted as AHR’s real estate advisor for the transaction.  While there were multiple sellers, all eight properties were marketed together. AHR purchased 10 communities all together but assigned the purchase and sale agreements of two properties to another institutional investor.  “This series of transactions is …

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DelawareDevelopmentNews

REDICO, Ciel Form Joint Venture to Develop Community in Coastal Delaware

by Hayden Spiess

REHOBOTH BEACH, Del. — REDICO and Ciel Senior Living have formed a joint venture to develop a new senior living community in Rehoboth Beach.  REDICO will lead the development and investment strategy for the project, and Ciel will serve as the operating partner when the community opens.  “Our involvement in this project and our ability to attract the financing necessary to make it possible reflects renewed investor interest in this industry,” says Dale Watchowski, CEO of REDICO and American House Senior Living. “This project also reflects REDICO’s broader senior living development …

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HarborChase of Wilmington in Wilmington, Delaware
AcquisitionsAssisted LivingDelawareMemory CareNews

JLL Brokers $45M Sale of Luxury Seniors Housing Community in Delaware

by Channing Hamilton

WILMINGTON, Del. — JLL Capital Markets has arranged the $45 million sale of HarborChase of Wilmington, a luxury 96-unit assisted living and memory care community in Wilmington, roughly 30 miles southwest of Philadelphia. JLL represented the seller, a private equity firm, in the transaction. Harbor Retirement Associates will continue to manage the community for the buyer, a publicly traded real estate investment trust.  Originally constructed in 2018, HarborChase of Wilmington is one of the newest seniors housing communities in the state of Delaware and is the newest facility in its primary market by …

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DelawareFinanceNewsSkilled Nursing

CFG Provides $23.6M Refinancing for Skilled Nursing Facility in Delaware

by Jeff Shaw

DELAWARE — Capital Funding Group (CFG) has provided a $23.6 million bridge-to-HUD loan, which supported the refinancing of an existing bridge loan executed by CFG. The deal supported a 169-bed skilled nursing facility in Delaware.  Andrew Jones originated the transaction for the CFG. Further details on the property and borrower were not disclosed.

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AcquisitionsAssisted LivingDelawareNew JerseyNewsOperations

Juniper Communities Takes Over Management of Three Leisure Care Properties in New Jersey, Delaware

by Jeff Shaw

NEWARK, Del.; HAMILTON and WASHINGTON TOWNSHIP, N.J. — Juniper Communities has taken over management of three Leisure Care senior living properties providing assisted living and memory care. The three properties are part of Columbia Pacific Advisors’ seniors housing portfolio. The move adds 397 assisted living and memory care units and approximately 300 associates to Juniper’s current portfolio. Juniper Communities now owns and operates 28 communities in Colorado, New Jersey, Pennsylvania, Texas and Delaware. Juniper Village at Newark, formerly known as The Vero at Newark and built in 2023, offers assisted …

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AcquisitionsDelawareNewsSkilled Nursing

ESI Brokers $10M Sale of Courtland Manor in Dover, Delaware

by Jeff Shaw

DOVER, Del. — Evans Senior Investments (ESI) has arranged the sale of Courtland Manor, a skilled nursing community in Dover.  An independent owner-operator sold the asset for $10 million, or $142,857 per bed. The buyer was a New York-based owner-operator. Since its inception in 1986, Courtland Manor has been under the ownership and operation of the seller. It features 70 licensed beds and a five-star CMS rating. Courtland Manor has historically maintained high occupancy rates, boasting figures in the high 80 percent range prior to COVID-19. Despite the challenges posed …

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DelawareDevelopmentNews

LCS Completes Renovations at Three Communities in Delaware

by Jeff Shaw

WILMINGTON and NEWARK, Del. — Life Care Services (LCS) has completed renovations at Foulk Living and Shipley Living in Wilmington and Millcroft Living in Newark. In late 2021, LCS took over management of the senior living communities. In the early months, the communities rebranded and refocused on hospitality, community life opportunities and resident satisfaction. More recently, Foulk Living, Shipley Living, and Millcroft Living have undergone extensive physical renovations to provide each community with an updated, fresh, welcoming look. Renovations at Foulk Living included renovations to the lobby, corridors, sunlit “four …

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DelawareNewsPeople

LCS Names Kristopher Brown as Executive Director of Millcroft Living in Newark, Delaware

by Jeff Shaw

NEWARK, Del. — Life Care Services has named Kristopher Brown as executive director of Millcroft Living, a seniors housing community in Newark, located between Philadelphia and Baltimore. Brown 20 years of experience, starting as a caregiver. He earned a degree in health sciences with a minor in physics and then became a certified-dementia practitioner.

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DelawareNewsPeople

LCS Hires Leslie Johnson as Executive Director of Foulk Living in Wilmington, Delaware

by Jeff Shaw

WILMINGTON, Del. — Life Care Services has hired Leslie Johnson as executive director at Foulk Living, a seniors housing community in Wilmington.  Johnson has worked in senior living for 13 years. Having majored in dietetics in, she started her career as a dietitian in a large healthcare system. Her field of study had appealed to her because of the role that nutrition plays in disease management and prevention and, by extension, quality of life. Johnson has served as a healthcare administrator at several different sites.

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