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AcquisitionsNew JerseyNewsSkilled Nursing

Tryko Partners Buys 308-Bed Virtua Health Skilled Nursing Portfolio in New Jersey

by Jeff Shaw

BERLIN and MOUNT HOLLY, N.J. — Tryko Partners has acquired two skilled nursing facilities in Berlin and Mount Holly, both located across the Delaware River from Philadelphia. Virtua Health sold the two communities for an undisclosed price. Tryko plans to rebrand the assets as Berlin Rehabilitation & Healthcare Center and Mount Holly Rehabilitation & Healthcare Center, respectively. Tryko facilities are supported by Marquis Health Consulting Services, a nursing home consulting company. The standalone Mount Holly facility features 180 licensed beds. The 128-bed Berlin facility is part of a larger Virtua …

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AcquisitionsFinanceNew JerseyNewsSkilled Nursing

CFG Arranges $10.6M in Acquisition Financing for Skilled Nursing Facility in Pittsgrove, New Jersey

by Jeff Shaw

PITTSGROVE, N.J. — Capital Funding Group (CFG) has arranged $10.6 million in bridge-to-HUD financing for the acquisition of an 84-bed skilled nursing facility in Pittsgrove, approximately 30 miles south of Philadelphia. Care Tim Eberhardt and Ava Julio originated the transaction. Further details were not disclosed.

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New JerseyNewsOperationsPeople

Erickson Senior Living Promotes Jennifer McNamara to Executive Director of Seabrook

by Jeff Shaw

TINTON FALLS, N.J. — Erickson Senior Living has named Jennifer McNamara as executive director of Seabrook, a community in Tinton Falls. McNamara has been a member of the Seabrook team for over 18 years and has served as associate executive director since 2017. McNamara started her career journey at Seabrook in 2003 as a social work. Before her role as associate executive director, she worked in various positions, including resident life director, resident life manager, senior social work manager and social worker. McNamara is a licensed clinical social worker and …

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New JerseyNewsPeople

Erickson Senior Living Promotes Kristen Compton to Executive Director of Cedar Crest

by Jeff Shaw

POMPTON PLAINS, N.J. — Erickson Senior Living has named Kristen Compton as executive director of Cedar Crest, a seniors housing community in the North Jersey municipality of Pompton Plains. “Kristen has been serving as Cedar Crest’s associate executive director since 2017 and has proven herself to be a strong and dedicated leader,” says John Mann, Erickson Senior Living’s vice president of regional operations. Compton’s accomplishments at Cedar Crest include facilitating many of the community’s repositioning projects, driving operations and helping the community achieve both resident satisfaction and employee engagement. Before …

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AcquisitionsNew JerseyNews

Blueprint Negotiates Sale of 164-Unit Ivystone Senior Living in Pennsauken, New Jersey

by Jeff Shaw

PENNSAUKEN, N.J. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Ivystone Senior Living in Pennsauken, just across the Delaware River from Philadelphia. The community features 100 independent living units, 43 assisted living units and 21 memory care units. The original physical plant was constructed in 1965, with additions to the property over the years. Priority Life Care, a court-ordered receiver as the property was in bankruptcy, sold the asset to UNPPG Management LLC, a privately held owner-operator based in New York. The price was not disclosed.

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Active AdultDevelopmentNew JerseyNews

Kaplan Cos. Opens 222-Unit Amaranth at North Brunswick Active Adult Community in New Jersey

by Jeff Shaw

NORTH BRUNSWICK, N.J. — Kaplan Cos. has opened Amaranth at North Brunswick, a 222-unit active adult community in North Brunswick, approximately midway between New York City and Philadelphia. Apartments range from 823 to 1,397 square feet. The property is Kaplan’s first active adult community. The company is already underway on its second Amaranth development in nearby East Windsor.

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DevelopmentNew JerseyNewsSkilled Nursing

Marquis Health Completes $3M Renovation at Crest Pointe in Point Pleasant, New Jersey

by Jeff Shaw

POINT PLEASANT, N.J. — Marquis Health Consulting Services has completed a $3 million renovation project at Crest Pointe Rehabilitation & Healthcare Center. The centerpiece of the renovation was the addition of a 3,000-square-foot rehab therapy gym and the incorporation of a activities of daily living (ADL) suite. Other renovation highlights also include a lobby/reception area redesign and expansion; reconfigured and updated dining area and lounges; and updates to resident rooms. During the renovation process, Crest Pointe and Marquis also enhanced the facility’s specialized programming in partnership with regional healthcare providers. Physician-led …

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AcquisitionsArkansasGeorgiaIndependent LivingNew JerseyNewsOhioOklahomaSouth Carolina

Discovery Senior Living, NHI Acquire Nine-Community Independent Living Portfolio

by Jeff Shaw

BONITA SPRINGS, Fla. — Discovery Senior Living and National Health Investors (NYSE: NHI) have formed a joint venture to acquire and rebrand nine former Holiday Retirement communities. The properties are located in Arkansas, Georgia, Ohio, Oklahoma, New Jersey and South Carolina and total 1,094 units. Discovery Senior Living and its subsidiary management companies have taken over operations. Additionally, Discovery will assume operations of Isles of Vero Beach, a 230-unit assisted living community in Vero Beach, Florida, through Discovery and NHI’s existing joint venture. That property will be renamed Discovery Village …

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Affordable HousingDevelopmentNew JerseyNews

Walters Starts Construction of Expansion at Cornerstone at Branchburg Affordable Community in New Jersey

by Jeff Shaw

BRANCHBURG, N.J. — Walters has started construction of the second phase of Cornerstone at Branchburg, an age- and income-restricted apartment community in Branchburg. Situated on 11.7 acres, the property will feature 150 units when both phases are completed. Each phase represents a three-story building, with the first scheduled for completion in December 2022 and the second in spring 2023. Apartment floor plans include one- and two-bedroom residences, ranging from approximately 700 to 900 square feet. The development team is seeking LEED and Energy Star certifications. Priority is given to residents …

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DevelopmentNew JerseyNewsSkilled Nursing

Marquis Completes $4M Renovation Project at Spring Grove Skilled Nursing Facility in New Providence, New Jersey

by Jeff Shaw

NEW PROVIDENCE, N.J. — Marquis Health Consulting Services has completed a $4 million renovation and modernization project at Spring Grove Rehabilitation & Healthcare Center. “Spring Grove’s reintroduction is the culmination of a vision four years in the works,” says Ugochi Opara, regional director of market development for Marquis Health Consulting Services, which supports the facility and spearheaded the renovation. “Spring Grove has been completely transformed into a modern, home-like environment for residents.” The Spring Grove renovation included a full-scale retrofit of the facility’s dedicated subacute unit and enhancements throughout its …

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