BONITA SPRINGS, Fla. — The Alzheimer’s Association has awarded a national Certificate of Recognition to Discovery Senior Living for the company’s SHINE Memory Care program. Discovery is a seniors housing owner-operator based in Bonita Springs. The company’s portfolio totals 15 communities in 13 states. The distinction comes following a comprehensive review of the program curriculum, which uses scientific principles to promote engagement, comprehension and lifestyle quality for seniors living with dementia. Discovery is one of eight providers nationally to receive this recognition. The Alzheimer’s Association Dementia Care Practice Recommendations use …
Memory Care
ORLANDO and WINTER PARK, Fla. — Strive Senior Living, based in Orlando, has acquired Sutton Homes, based in Winter Park. Sutton Homes is a 25-year-old operator of seven seniors housing communities in Central Florida. Sutton Homes is focused on memory care, and Strive will launch a new standalone memory care brand named Sanctuary by Strive to lead the new portfolio. Strive purchased all assets of the company and will continue to operate the communities under Sutton Homes until the full rebrand to Sanctuary by Strive is completed by the end …
DALLAS — Lancaster Pollard Mortgage Co. has arranged a $20.8 million refinancing for a skilled nursing and memory care community in the Lake Highlands neighborhood of Dallas. The loan refinanced the existing debt and reimbursed the ownership group in excess of $1 million for recent capital improvements at the community. Kyle Hemminger led the transaction for Lancaster Pollard.
SPRINGFIELD, Ore. — Senior Living Investment Brokerage has negotiated the sale of ElderHealth & Living Memory Care Village in Springfield. Built in 1988 and expanded in 1996, the memory care community features 95 beds across 59 units. The facility is approximately 30,215 square feet and is situated on approximately 5.1 acres of land. A regional operator with multiple West Coast communities acquired the property for an undisclosed price. The seller, a local owner-operator divesting its only seniors housing community, will stay on as a consultant. A local bank provided a …
As developers dial back on new supply and absorption continues at a healthy pace, the vacancies begin to recede. By Bendix Anderson The phone continues to ring at the leasing office at Woodside Place of Washington in Washington, Pa., even though businesses across the U.S. have closed their doors to slow the spread of the novel coronavirus. Half of the 36 units at Woodside Place were already occupied in March 2020, even though the new standalone memory care facility had only opened its doors a few weeks before in February. …
Anthem experiences huge occupancy growth as the company champions the importance of standalone memory care. By Jeff Shaw Standalone memory care has been through the wringer in recent years. Although nearly every assisted living community now includes some memory care units, properties that exclusively offer this specialized care have fallen out of favor. Lenders and investors have begun to shy away amid low occupancy rates, instead favoring properties that offer a full continuum of care (often including independent living as well). Standalone memory care occupancy rates have fluctuated between 80 …
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Webinar: Safeguarding Residents and Caregivers During COVID-19
Seniors Housing Business hosted a panel discussion on June 3 entitled “Safeguarding Residents and Caregivers During COVID-19: Technologies that Prevent Infectious Disease Spread” where expert panelists addressed the importance of technology and creativity in keeping residents safe and connected, both during the pandemic and as nationwide shutdowns are ending. A high-touch industry like seniors housing requires a high-tech approach to ensure residents are healthy and feel part of their community. How can those in the industry elevate services, drive down costs and adapt in the face of new data? Learn …
On May 13, Seniors Housing Business hosted a panel discussion to explore the question: How will the coronavirus pandemic impact market valuation in the seniors housing sector? While there’s been a stock price rebound after REIT value plummeted at the outset of the pandemic, it isn’t clear right now where prices might end up for private and public markets. Join us to learn how the traditional components of seniors housing valuation have been upended by COVID-19 and what factors will most influence future prices. Listen in to hear what experts …
BEAVERTON, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Murray Highland Memory Care in Beaverton, a suburb of Portland. The community features 18 memory care units totaling 24 beds. The 12,048-square-foot community was built in 2018 on a 0.7-acre plot. The average rent is $7,350 per month. The seller is a local owner exiting the seniors housing industry. The buyer is a regional operator with an existing portfolio in California, and is looking to expand to Oregon. Jason Punzel, Brad Goodsell and Vince Viverito of SLIB …
LAKEWOOD, Colo. — Evans Senior Investments (ESI) has arranged the sale of Lakewood Memory Care, a 46-unit memory care facility, for $8.5 million, or $185,000 per unit. Located 10 miles south of downtown Denver in Lakewood, the facility totals 52 beds. The property was built in 2016 and is 100 percent private pay. It was 75 percent occupied at the time of sale. ESI represented the seller in the transaction, an independent investor group that had partnered with a national operator. This was the investor group’s only seniors housing asset. …