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AcquisitionsAssisted LivingIllinoisIndependent LivingMemory CareNews

Citrine Investment Group Sells 106-Unit Community in Metro Chicago

by Hayden Spiess

ST. CHARLES, Ill. — Citrine Investment Group has sold River Glen of St. Charles, a senior living community located in St. Charles, about 45 miles west of Chicago.  Citrine acquired the property, which totals 106 units, in January 2023. The community includes independent living, assisted living and memory care residences.  Under Citrine’s ownership, River Glen of St. Charles transitioned from an entrance-fee structure to a market-rate rental model. Citrine also invested in strategic capital improvements throughout the community.  “River Glen benefited from Citrine having the conviction to take on the entrance …

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Covenant Living Names Jay Hibbard Next President

by Hayden Spiess

CHICAGO — Covenant Living Communities and Services, a nonprofit senior living organization, has named Jay Hibbard as the next president of the company.  Hibbard, who has more than 36 years of experience in seniors housing, will assume the position Oct. 1. He currently serves as chief growth and communication officer at Covenant Living and has been with the organization for more than a decade.  David Erickson has served as the organization’s president and chief executive officer since June 2024. Erickson will continue to act as the company’s CEO.  “This leadership structure …

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Deer Park Village
AcquisitionsFinanceIllinoisNews

Inland Receives $112M Acquisition Financing for Portfolio in Metro Chicago

by Hayden Spiess

BATAVIA and DEER PARK, Ill. — The Inland Real Estate Group has received $112 million in acquisition financing for the purchase of a seniors housing portfolio in metro Chicago.  Totaling 330 units, the portfolio includes Deer Park Village in Deer Park and The Landings in Batavia. The communities comprise 188 and 142 units, respectively. Both properties feature a continuum of care, with independent living, assisted living and memory care residences.  Dial Senior Living will continue to manage the properties on behalf of the new ownership.  JLL Capital Markets arranged the financing …

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IllinoisNewsOperationsOregon

Senior Lifestyle Assumes Management of Two National Healthcare Properties Communities

by Hayden Spiess

BEAVERTON, Ore. and St. Charles, Ill. — Senior Lifestyle Corp. has assumed the management of two communities owned by National Healthcare Properties (NHP).  The properties include Addington Place of Canfield in Beaverton, Oregon, and River Glen of St. Charles in St. Charles, Illinois.  Senior Lifestyle now manages 18 communities on behalf of NHP. 

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Arbor-Terrace-Exton_Exton-Pa
AcquisitionsIllinoisNew JerseyNewsPennsylvania

Capitol Seniors Housing Sells Four-Property Portfolio to Welltower

by Hayden Spiess

WASHINGTON, D.C. — Capitol Seniors Housing (CSH) has completed the sale of a four-property seniors housing portfolio located in New Jersey, Pennsylvania and metro Chicago. Welltower acquired the communities for an undisclosed price.  Two of the properties are situated in the Chicago metropolitan area, with one community located in Exton, Pennsylvania, and another community located in Marlton, New Jersey.  According to CSH, the company has now surpassed $1 billion in sales of senior living communities developed by the firm. CSH was founded in 2003 by former Sunrise Senior Living executives Scott …

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Affordable-Assisted-Living-Community_Metro-Chicago
AcquisitionsAffordable HousingIllinoisNews

Blueprint Brokers Sale of Affordable Community in Chicagoland

by Hayden Spiess

CHICAGO — Blueprint has brokered the sale of an affordable seniors housing community located in metro Chicago.  Developed in the mid-2000s, the assisted living property operates under the Illinois Supportive Living Program.  A Chicago-based owner and operator acquired the property for an undisclosed price. Connor Doherty and Ryan Kelly of Blueprint advised the seller in the transaction. 

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AcquisitionsIllinoisNewsPennsylvania

Joint Venture Sells 344-Unit Portfolio in Metro Chicago, Philadelphia 

by Hayden Spiess

CHICAGO and PHILADELPHIA — A joint venture between Bain Capital and Capitol Senior Housing has sold a 344-unit senior living portfolio located in the Chicago and Philadelphia metros.  The portfolio comprises two properties near Philadelphia and two properties located in the North Shore suburbs near Chicago.  Jay Wagner, Rick Swartz, Aaron Rosenzweig and Jim Dooley of JLL Capital Markets represented the seller in the transaction. The buyer was not disclosed. 

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Ventas Names Kevin Bohl Interim General Counsel

by Hayden Spiess

CHICAGO — Ventas has appointed an interim general counsel. Kevin Bohl will assume the role upon the departure of the current general counsel, Carey Roberts. Roberts intends to resign effective June 26 and will join Blackstone as senior managing director and general counsel of real estate.  Bohl, who joined Ventas in 2011, currently serves as senior vice president, deputy general counsel and assistant corporate secretary at the company. Bohl and his team provide strategic and legal advice to on transactional and asset management matters for Ventas. Prior to joining Ventas, he …

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Clarendale-of-Mokena_Mokena-Ill
AcquisitionsIllinoisNews

Inland Acquires 156-Unit Community in Chicago Suburb

by Hayden Spiess

MOKENA, Ill. — Inland Real Estate Acquisitions has acquired Clarendale of Mokena, a 156-unit senior living community located in Mokena, a southwest suburb of Chicago.  The property features 60 independent living, 56 assisted living and 40 memory care units. Amenities at the community include a bistro, pub, full-service salon and spa, fitness studio, theater room, gathering spaces, landscaped grounds and an outdoor patio.  “Our senior living investment strategy centers on acquiring the highest quality opportunities with best-in-class operators,” says Matthew Tice, senior vice president of Inland. “The Clarendale of Mokena is …

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Company NewsFinanceIllinoisNews

Evans Senior Investments Expands with Dedicated Capital Markets and Debt Advisory Team

by Hayden Spiess

CHICAGO — Brokerage firm Evans Senior Investments (ESI) has expanded its platform with the addition of a dedicated capital markets and debt advisory team.  Hank Fuller will serve as director and lead the capital markets practice, which will include Jeremy Laboe, senior capital associate.  “Our clients were navigating debt alone,” says Fuller. “That gap is where we’re focused, running a disciplined, marketed process across our lender network to drive pricing, terms and execution certainty.” According to ESI, the firm has active relationships with more than 500 lenders, including banks, debt funds …

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