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Memory Care

CaliforniaDevelopmentMemory CareNews

MorningStar Completes Renovations at Community in Pasadena, California

by Jeff Shaw

PASADENA, Calif. — MorningStar Senior Living has reopened its 144-unit Pasadena community. Soon after assuming management in December 2020, MorningStar, a Denver-based senior living owner and operator, began a complete renovation of the four-story community. “The extensive renovation of MorningStar Senior Living of Pasadena recognizes the desire for retirees to remain in the neighborhoods they love, but with options for contemporary living,” says Ken Jaeger, MorningStar founder/CEO. “This redesign reflects our substantial experience in taking senior living innovation to the next level while continuing to meet the pressing need for …

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IllinoisMemory CareNewsOperationsPeople

Anthem Memory Care Appoints Nick Katinos as Executive Director of Grace Point Place in Oak Lawn, Illinois

by Jeff Shaw

OAK LAWN, Ill. — Anthem Memory Care has named Nick Katinos as executive director for Grace Point Place in Oak Lawn, southwest of Chicago. Katinos previously was executive director of Sunrise of Naperville North in Naperville. He also served as executive director for Brighton Gardens of Wheaton in Wheaton. He brings over seven years of senior living experience to this position. Katinos earned a bachelor’s degree in hospitality management from Johnson & Wales University in Providence, Rhode Island.

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AcquisitionsAssisted LivingIndianaMemory CareNews

ESI Arranges Sale of 48-Unit Assisted Living Community in Merrillville, Indiana

by Jeff Shaw

MERRILLVILLE, Ind. — Evans Senior Investments (ESI) has arranged the sale of a 48-unit assisted living and memory care community in Merrillville. A regional family ownership group sold the asset to Lloyd Jones for an undisclosed price. The community was originally purpose built for memory care in 2016 and received in-place rates above $5,000 a month. In late 2019, the community began accepting assisted living residents due to slow lease-up velocity of the existing memory care units. The community experienced multiple bans on admissions due to COVID-19 outbreaks, with the …

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AcquisitionsMarylandMemory CareNevadaNews

Blueprint Brokers $37.5M Sale of Two Memory Care Communities in Nevada, Maryland

by Jeff Shaw

FREDERICK, Md., and SUMMERLIN, Nev. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of two newly constructed memory care communities. Located in Frederick and Summerlin, Silver Cos. developed the Class A communities with 60 units each, then leased them to Silverado. National Health Investors, a publicly traded REIT, acquired the properties for $37.5 million, representing $312,500 per unit and a yield of 7.5 percent. Silverado will stay on as operator.

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FinanceMemory CareNewsTexasWisconsin

Lument Closes Four Bridge Loans Totaling $78M for Acquisition, Refinancing of Memory Care Portfolio

by Jeff Shaw

TEXAS and WISCONSIN — Lument has closed a series of bridge loans totaling more than $78 million to acquire or refinance four memory care facilities totaling 311 beds in Texas and Wisconsin. The borrower is Silverado, a large memory care operator with communities throughout California, Kansas, Nevada, Maryland, Texas, Illinois, Virginia, Washington, and Wisconsin. Doug Harper, Chris Mauger, and Casey Moore led the transaction for Lument. The four loans were underwritten with a 36-month initial term and one-year extension, with earn-outs for each loan and variable interest rates. The deal …

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ColoradoMemory CareNewsPeople

Anthem Memory Care Appoints Trisha Thomas as Executive Director for Community in Aurora, Colorado

by Jeff Shaw

AURORA, Colo. — Anthem Memory Care has named Trisha Thomas as executive director for Chelsea Place, a memory care community in Aurora. In this capacity, she will oversee all daily care, programming and operations. Thomas previously was executive director with Brookdale Westland Meridian in Lakewood. She also served as executive director for Pinehurst Park Memory Care in Denver. Thomas brings over 20 years of senior living and 15 years of nursing experience to this position. She earned an associate’s degree in nursing from Denver School of Nursing.

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DevelopmentMemory CareMissouriNews

Spellman Brady Completes Interior Design for Memory Care Expansion in Shrewsberry, Missouri

by Jeff Shaw

SHREWSBERRY, Mo. — Spellman Brady & Co. has completed the interior design for the addition to Our Mother of Perpetual Help Memory Care on the Cardinal Ritter Senior Service’s Shrewsberry campus. The single-story memory care addition has two wings consisting of 13 private units each. A small-home concept guided the overall design to create a residential home-like, non-institutional setting for residents. Spellman Brady collaborated with Vessel Architecture, which developed the building addition, and BSI Constructors, the general contractor for the project.

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AcquisitionsMemory CareNewsOklahoma

Blueprint Brokers Sale of 54-Unit Memory Care Portfolio in Oklahoma

by Jeff Shaw

TULSA and OKLAHOMA CITY, Okla. — Blueprint Healthcare Real Estate Advisors has brokered the sale of two memory care communities totaling 54 units in Tulsa and Oklahoma City. Built in 2015 and 2016, the communities were fully stabilized in 2018 and 2019, were resilient through the pandemic and sharply rebounded to near 100 percent occupancies at the time of marketing in mid-2022. The buyer was a Texas-based owner-operator focused on standalone memory care in the region. Blueprint also assisted the buyer with debt placement through an existing bank relationship. The …

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AcquisitionsMemory CareNewsUtah

SLIB Brokers Sale of 66-Bed Barrington Place in Clinton, Utah

by Jeff Shaw

CLINTON, Utah — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Barrington Place, a 66-bed memory care community in Clinton, 30 miles north of Salt Lake City. The facility was built in 2016, totaling approximately 32,862 square feet on 2.9 acres of land. A national owner-operator seeking to sell non-core assets sold the property to a family office based in the West for an undisclosed price. The new owner plans to install Ridgeline Management Co. as the operator. Jason Punzel, Vince Viverito and Brad Goodsell of SLIB handled …

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AcquisitionsMemory CareNewsUtah

SLIB Negotiates Sale of 66-Bed Pheasant Run in Clinton, Utah

by Jeff Shaw

CLINTON, Utah — Senior Living Investment Brokerage (SLIB) has arranged the sale of Pheasant Run, a memory care community in Clinton, approximately 30 miles north of Salt Lake City. Built in 2015, the facility consists of 45 units and 66 beds across approximately 32,862 square feet, on three acres of land. A regional owner exiting the Utah market sold the asset to a family office based in the Western U.S. for an undisclosed price. The new owner plans to use Ridgline Management Company as the operator. Jason Punzel, Vince Viverito …

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