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Amy-Brighton
Company NewsMassachusettsNewsPeople

2Life Communities CEO to Retire in October

by Hayden Spiess

BRIGHTON, Mass. — 2Life Communities CEO Amy Schectman has announced plans to retire this October. Schectman, whose full title is Saul and Gitta Kurlat chief executive officer, has held the position for roughly 15 years. (The Saul & Gitta Kurlat Charitable Foundation is a long-standing supporter of 2Life Communities.) “I feel very proud of the work we’ve done at 2Life,” said Schectman in a statement. “Creating communities of loving kindness is sacred work, especially important in a society that often ignores or dismisses older adults and where elder economic insecurity is …

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Lakeside-Manor_Reno-Nev
AcquisitionsIndependent LivingNevadaNews

SLIB Arranges Sale of 84-Unit Community in Reno, Nevada

by Hayden Spiess

RENO, Nev. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Lakeside Manor in Reno. The independent living community totals 84 units within a 59,605-square-foot building.  A New Mexico-based owner and operator was the seller. A Pennsylvania-based private equity group acquired the property for an undisclosed price.  Vince Viverito and Dave Balow of SLIB brokered the transaction. 

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Marianne-Inwood_Dallas
DevelopmentNewsTexas

Harbert South Bay to Develop 294,000 SF Luxury Senior Living Community in Dallas

by Hayden Spiess

DALLAS — Harbert South Bay has announced plans to develop a new luxury senior living community, The Marianne on Inwood, in Dallas.  Upon completion, the property will total 162 units and 294,000 square feet with independent living, assisted living and memory care residences. Amenities at the community will include multiple dining venues, indoor and outdoor pools, a gym, hair salon, media lounge and golf simulator. Momentum Senior Living will act as the operator. Bozzuto Construction is serving as the general contractor for the project, and Arcadis designed the community. Completion of …

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AcquisitionsGeorgiaNews

LTC Properties Acquires Atlanta Portfolio for $108M

by Hayden Spiess

ATLANTA — LTC Properties (NYSE: LTC) has acquired a seniors housing portfolio located in Atlanta for $108 million.  The portfolio comprises roughly 400 independent living, assisted living and memory care units across three properties. Built between 2014 and 2018, the communities were 92 percent occupied at the time of acquisition.  The Arbor Co. manages the communities and will be retained by LTC as the operator.  This marks the first seniors housing operating portfolio (SHOP) acquisition for LTC this year. The REIT’s portfolio currently features approximately 190 properties throughout the U.S. 

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Company NewsNewsPeople

Discovery Senior Living Appoints Vice President of Sales

by Hayden Spiess

BONITA SPRINGS, Fla. — Discovery Senior Living has appointed a new vice president of sales. Jake Raptosh will now hold the position, reporting to Brennan Hughes, senior vice president of sales.  Raptosh most recently served as vice president of sales and marketing at Elegance Living. He has also held roles with Holiday by Atria and Holiday Retirement.  According to Discovery, Raptosh specializes in coaching teams, refining sales execution and partnering cross functionally with operations, marketing and technology teams. He has experience leading customer relationship management (CRM) and sales process enhancements, delivering …

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Assisted LivingCaliforniaDevelopmentMemory CareNews

O&I Development Underway on $33M Development in Greater Los Angeles

by Hayden Spiess

ARCADIA, Calif. — O&I Development is currently underway on They Ivy Arcadia, a new senior living community located in Arcadia, roughly 20 miles northeast of downtown Los Angeles.  Upon completion, the $33 million development will total 100 units of assisted living and memory care. R.D. OIson Construction is serving as the general contractor for the project. The project team also includes b.hills architecture and STUDIOSIX5. Amenities at the property will include a fitness center with specialized treatment rooms for memory care and mobility support, dining areas, a reading room, bar and …

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FinanceFloridaNewsSkilled Nursing

MonticelloAM Provides $107M Financing for Florida Skilled Nursing Portfolio

by Hayden Spiess

NEW YORK CITY — MonticelloAM has provided $107 million in financing, including a $100 million bridge loan and $7 million working capital line of credit, for a skilled nursing portfolio in Florida.  The portfolio totals 480 beds across four facilities.  “This closing demonstrates our ability to provide flexible capital solutions that meet evolving needs and foster stability for healthcare providers,” says Joseph Borenstein, head of New York City-based MonticelloAM’s healthcare bridge lending team. 

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Bozeman-Lodge_Bozeman-Mont
Assisted LivingFinanceIndependent LivingMontanaNews

Berkadia Arranges $33.8M Refinancing for Community in Bozeman, Montana

by Hayden Spiess

BOZEMAN, Mont. — Berkadia has arranged $33.8 million in refinancing for Bozeman Lodge, an independent and assisted living community located in Bozeman. Oregon-based Radiant Senior Living is the borrower.  Ed Williams, Steve Muth, Austin Sacco, Garrett Sacco and Alec Rosenfeld of Berkadia secured the financing from a debt fund on behalf of Radiant. The 2.5-year loan features interest-only payments for the full term. This marks the debt fund lender’s first loan within the seniors housing sector. 

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New JerseyNewsOperations

Arbor Co. Assumes Management of Chelsea Senior Living in Metro New York City

by Hayden Spiess

SHREWBURY, N.J. — The Arbor Co. has assumed management of Chelsea Senior Living at Shrewsbury located roughly 50 miles outside New York City in Shrewsbury.  Following the transition, which occurred Jan. 15, the community was rebranded as Arbor Terrace Monmouth. The property features both assisted living and memory care units.  Atlanta-based Arbor operates a portfolio of more than 45 senior living communities across 11 states.  

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DevelopmentFinanceIllinoisMemory CareNews

Cambridge Realty Capital Provides $6M Construction Loan for Addition at Central Illinois Community

by Hayden Spiess

PONTIAC, Ill. — Cambridge Realty Capital has provided a $6 million loan to fund the construction of a memory care addition at The Pointe at Pontiac in central Illinois. The borrower is an Illinois-based limited liability company (LLC).  The Pointe at Pontiac currently comprises 60 beds of supportive living, the Illinois version of Medicaid Waiver assisted living. The State of Illinois provides Medicaid funding to seniors age 65 and older who would otherwise not have the resources to reside in an assisted living facility.  In addition to the new memory care …

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