WESTLAKE VILLAGE, Calif. — LTC Properties Inc. (NYSE: LTC), a Westlake Village-based REIT, has re-leased 10 of the 35 properties in its Brookdale Senior Living portfolio to Brookdale under a new master lease. This new master lease includes six properties in Colorado and four in Kansas. The six-year master lease will commence on Jan. 1, 2024. Rent in the first year is set at $8 million, escalating by approximately 2 percent annually. The lease includes a purchase option that can be exercised in 2029. LTC also agreed to fund $4.5 …
WICHITA, Kan. — Anthem Memory Care has named Sara Miller as executive director for Chisholm Place in Wichita. She will oversee all daily care, programming and operations. Miller previously was residence director and assistant residence director with Legend Senior Living. She brings over 16 years of healthcare experience to this position. Miller earned a bachelor’s degree in health services management and community development with a minor in aging studies from Wichita State University.
PRAIRIE VILLAGE, Kan. — Lifespace has completed renovations at Claridge Court, a seniors housing community in Prairie Village, approximately 10 miles south of Kansas City. The project, which updated Claridge Court’s living spaces, communal areas and amenities, took about a year. One of the highlights of the renovation is the new Health Center Terrace, which was made possible in part by the Claridge Court Foundation, a resident-run organization dedicated to supporting the community. The foundation provided funding for the new addition along with many other features in the community. Claridge …
BURLESON, Texas, and OVERLAND PARK, Kan. — CareTrust REIT Inc. (NYSE: CTRE) has acquired two skilled nursing facilities: AdventHealth Care Center Burleson, a 178-bed facility in Burleson, and AdventHealth Care Center Overland Park, a 102-bed facility in Overland Park, Kansas. The Overland Park facility represents CareTrust’s entry into the Kansas market. Blueprint Healthcare Real Estate Advisors represented the seller, AdventHealth, in the transaction. The acquisition of the Burleson facility will be an add-on to CareTrust’s existing lease with Austin, Texas-based operator Momentum Skilled Services, which will replace the outgoing operator. …
SALINA, Kan. — Lument has provided a Fannie Mae DUS loan to refinance Eaglecrest Retirement Community in Salina. Located approximately 180 miles west of Kansas City and 90 miles north of Wichita, the community features 102 units of independent living and assisted living. The operator is Midwest Health and it was built in 2004. Lument Managing Directors Bill Wilson, Doug Harper and Casey Moore led the transaction.
OVERLAND PARK, Kan. — Erickson Senior Living has opened Santa Fe Ridge, an independent living expansion at its Tallgrass Creek continuing care retirement community. Located on 65 acres in the Overland Park suburb of Kansas City, Tallgrass Creek now features 96 new units. In addition to the new residences, Santa Fe Ridge features an indoor pickleball court and a new restaurant. The building is named for the historic Santa Fe Trail, which opened in 1821 and served as the most important route to the West before the era of the …
PRAIRIE VILLAGE, Kan. — Tutera Senior Living & Health Care has completed the first phase of renovations at The Village at Mission, a senior living community in Prairie Village, a suburb of Kansas City. The full project costs are estimated at $6.5 million. Tutera acquired The Village at Mission property in June 2021. Phase I of the 73,000-square-foot remodel includes 26 resident apartments and first-floor common living spaces. The residences have been modernized with new lighting, fresh furnishings, cabinetry, flooring, paint and other upscale finishes. The common living space upgrades …
KANSAS — Monarch Advisors has arranged $6.1 million in financing for the acquisition of two seniors housing communities in Kansas. The buyer is a long-time owner-operator in Kansas senior care. The seller, price and location details were not disclosed. A regional bank provided the funds. The three-year, floating-rate loan is structured with no financial covenants and interest-only payments for the first 18 months, converting to a 25-year amortization schedule thereafter.
LENEXA, Kan. — Cushman & Wakefield has arranged $24.6 million in financing for the acquisition of Silvercrest at College View, a 136-unit independent living, assisted living and memory care community in the Kansas City suburb of Lenexa. Trustmark Bank provided the capital to a private capital group. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Sam Dylag, Bailey Nygard and Jack Griffin represented the borrower. “Silvercrest at College View is an excellent community with upper-echelon performance in an affluent submarket,” says Wagner. “We’re pleased to have assisted in the financing of …
PRAIRIE VILLAGE, Kan. — Lifespace Communities has appointed Rob Salierno as executive director of Claridge Court, a community in Prairie Village, a suburb of Kansas City. Salierno previously served as executive director of Claridge Court for five years from 2011 to 2016. He began his career at Claridge Court at age 17 as a dining room server, then as lead server, dining room manager, and food and beverage manager. He eventually earned his administrator’s license and served in that capacity at another Lifespace community before returning to Claridge Court as …