CHICAGO — Ventas (NYSE: VTR), a Chicago-based REIT, has named three new operators for a portfolio of independent living communities in Texas, Florida and California. Sodalis Senior Living will take over management of 13 communities in Texas, while Priority Life Care will operate eight properties in Florida and Discovery Senior Living will operate five in California. Ventas “is expanding its successful existing relationships with the three managers to increase occupancy and performance in these communities,” the company said in a press release. The communities will be operated under management contracts. …
WEST DES MOINES, Iowa — Resort Lifestyle Communities has opened Glen Meadows, an independent living community in Wes Des Moines. Glen Meadows offers 128 apartments for rent in studio, one-, two and three-bedroom options.
BOSTON — Pleasant Spring Communities, which oversees Springhouse Senior Living Community and Mount Pleasant Home in Boston, has agreed to affiliate with HumanGood, a nonprofit operator based in California. Following regulatory and lender approval, the two communities will join HumanGood’s family of life plan and affordable senior living communities. “We chose to partner with HumanGood not only for their expertise in overseeing independent living communities like Springhouse and affordable housing communities for older adults, but also because they share our values of creating settings focused on independence, trust, and caring …
GREENSBORO, N.C. — Life Care Services (LCS) has completed the first phase of a $75 million expansion project at WhiteStone, a continuing care retirement community in Greensboro. LCS manages the Masonic and Eastern Star community. This phase of the expansion added 67 one- and two-bedroom independent living units to the property. In addition, the Care and Wellness Center renovations include a rehabilitation gym, courtyard and gardens, and enhanced salon and spa. In Guilford County, more than 16 percent of the population is currently made up of seniors, and that number …
DOWNERS GROVE, Ill. — Lifespace has completed renovations to the independent living building at Oak Trace, a continuing care retirement community in Downers Grove, approximately 20 miles west of Chicago. The renovations were part of a $112 million full-campus redevelopment. The first phase of the project occurred in 2019, when Oak Trace opened its new Health and Wellness Center offering assisted living, memory care rehabilitation and skilled nursing. It was named among the Best Nursing Homes by U.S. News & World Reportfor 2022-2023. The latest phase, completed last week, features renovated shared …
ALTADENA, Calif. — C.W. Driver Cos. has broken ground on its second and final phase of construction at Episcopal Communities & Services’ MonteCedro senior living community in Altadena, approximately 15 miles north of Los Angeles. Totaling approximately 101,862 square feet, the project adds four residential buildings, including 40 independent living apartments and a terrace restaurant. The new $56M villa-style buildings will be two and three stories in height, with two of the structures positioned over a below-grade parking garage podium level. All four buildings will be designated as California licensed …
SAN ANTONIO — Forefront Living has unveiled plans for Bella Vida at La Cantera, a 21-acre independent living community in San Antonio. The community is near the Eilan Hotel and Spa and La Cantera Resort and Spa and adjacent to the Crownridge neighborhood. Once complete, Bella Vida will feature 153 apartment units and 40 villas with attached garages, with a variety of floor plans ranging from 820 to 2,550 square feet. A construction timeline was not released.
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Webinar: Seniors Housing Success Stories — Companies that are Rising Above the Headwinds
The June 29 webinar “Seniors Housing Success Stories — Companies that are Rising Above the Headwinds“ focused on what leading seniors housing firms are doing to alter their businesses, streamline operations, increase occupancy and strategize in terms of deal volume and investment. Industry difficulties, including labor shortages, inflation and interest rates, have highlighted the need for expertise and well-informed approaches to the seniors housing sector recovery. Click to watch this hour-long discussion that considers both operations and trends in transaction activity. See how strategies and outlooks have shifted since last …
ELMHURST, Ill. — Focus Healthcare Partners LLC, a Chicago-based real estate investment and asset management firm, has acquired Lexington Square Senior Living in Elmhurst, approximately 15 miles west of Chicago. BMO provided financing for the sale. The price and seller were not disclosed. Focus will rebrand the community as The Roosevelt at Salt Creek and convert it from an entrance-fee buy-in model to a rental community offering independent living and assisted living. Life Care Services will manage the community and help facilitate the transformation. Focus will implement a multi-year renovation …
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Your Caregiver Team Includes the Building Itself
While seniors housing operators grapple with occupancy issues, labor challenges and margin squeeze, the building’s role within the industry is sometimes overlooked. But innovative building design and new technologies can help improve staff efficiency, optimize resident care and increase revenue. “The senior living industry is evolving,” says Gaurie Rodman, vice president of real estate strategy and development at Direct Supply, a provider of equipment and services to the senior living and healthcare industries. “Buildings are taking on a role beyond shelter.” New building designs are being created through an efficiency …