COLUMBUS, Ohio — Nonprofit organization National Church Residences has appointed new leaders of its board. Both longstanding board members, Virginia Barney and Rob Maloney will serve as chair and vice chair of the board, respectively. Barney succeeds Greg Overmeyer, who has served in the role since 2022. Barney’s experience includes more than 30 years of leadership in the private and public sectors, including tenures as the city manager, councilwoman and mayor of the City of Upper Arlington in Ohio. “I’m looking forward to working with my board colleagues and the staff …
CLEVELAND — Industry veterans Ken Gould and Jason Dopoulos have launched Ikaria Capital Group, a platform specializing in debt solutions including bridge loans, recapitalizations, refinancings, construction and permanent financing, FHA/HUD loans and working capital lines of credit. Cleveland-based Ikaria will feature a focus on skilled nursing and seniors housing facilities. Currently, the Ikaria team is processing a more than $1 billion pipeline of bridge loans through FHA/HUD. Gould and Dopoulos previously worked with Lancaster Pollard and White Oak Healthcare Partners, respectively. “We are dedicated to this sector and have specifically created …
TOLEDO, Ohio and HOUSTON — An affiliate of Welltower Inc. (NYSE: WELL) has entered into an agreement to acquire NorthStar Healthcare Income Inc., a public, non-traded REIT that owns a diversified portfolio of seniors housing properties throughout the United States, for roughly $900 million. Toledo-based Welltower will take ownership of NorthStar Healthcare’s portfolio of 40 seniors housing communities in the acquisition. Founded in 2010, Houston-based NorthStar Healthcare’s portfolio includes independent living, assisted living and memory care properties. “We expect that this portfolio will serve to further enhance our regional densification …
CINCINNATI — Sonida Senior Living has acquired a seniors housing community in Cincinnati for $16.3 million. Development of the property was completed in 2021, however the community did not open, due to construction finance foreclosure. Totaling 82 units, the community will offer 50 assisted living and 32 memory care residences. The property is situated adjacent to Sonida’s existing Wellington at North Bend Crossing community, which features 121 senior living units. Together, the properties will comprise a 203-unit, two-community campus offering a continuum of care. Sonida funded the acquisition with $18.3 million …
COLUMBUS, Ohio — KeyBank Community Development Lending and Investment (CDLI) has arranged a total of $93 million in construction financing for a new affordable seniors housing community in Columbus. Dubbed The Caravel, the community will feature 234 units for residents age 55 and older who earn at or below 50, 60 and 70 percent of the area median income (AMI). Of the garden-style apartments, 25 will be fully accessible, and all units will be adaptable for residents with ADA needs. KeyBank provided a $43.3 million construction loan and $23.8 million in …
MARYSVILLE, Ohio — Senwell Senior Investment Advisors has brokered the sale of Memorial Gables, a 112-bed skilled nursing facility located in Marysville, approximately 34 miles northwest of Columbus in Union County. The buyer was an Ohio-based operator, which has more than 25 years of experience in Ohio’s senior care industry and operates numerous facilities across the state. Ohio. Union County was the seller of the facility, which had been operated as part of the Memorial Health system. Toledo, Ohio-based Senwell engaged more than 400 organizations nationally, with 68 signing non-disclosure …
OHIO — Capital Funding Group (CFG) has provided a $12.5 million bridge-to-HUD loan, which supported the refinancing of an existing bridge loan. The subject property is a 175-bed skilled nursing and assisted living facility in Ohio. Further details were not disclosed. Craig Casagrande of CFG originated the transaction.
BEAVERCREEK, Ohio — Ziegler has advised Confluent Senior Living on the sale of a 110-unit assisted living and memory care community in Beavercreek, a suburb of Dayton. Confluent Senior Living is a subsidiary of Confluent Development, which is a full-service real estate investment and development firm. Community First Solutions purchased the community for an undisclosed price and took over operations. Community First is a nonprofit health and human services organization.
OHIO — Evans Senior Investments (ESI) has arranged the sale of a three-property portfolio in Western Ohio. The transaction was executed on behalf of the Mariner Management Group Inc., an independent owner and operator seeking to exit the industry. The portfolio, which was built in stages between 1990 and 2013, consists of three communities with a total of 317 licensed skilled nursing beds and 209 seniors housing units. At the onset of ESI’s marketing process, the average occupancy rate was stagnant at 65 percent, leading to financial challenges. Despite these …
LOUISVILLE, Ky. — Trilogy Health Services has announced an investment plan to develop and expand senior living and assisted living services in Indiana, Kentucky, Michigan and Ohio. The investment aims to help address the growing demand for senior living accommodations and services. The plan includes expanding facilities across several states and developing a new campus. Trilogy will kick off its patio home expansions this summer in Sylvania, Ohio, with 26 new independent living patio homes for seniors at The Lakes of Sylvania. The expansion is projected to start in July …
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