News

AcquisitionsAssisted LivingNewsUtah

Blueprint Negotiates Sale of Two Value-Add Communities in Utah

by Jeff Shaw

SALT LAKE CITY and ST. GEORGE, Utah — Blueprint Healthcare Real Estate Advisors has brokered the sale of two communities in Utah. The seller was a national developer/investor seeking an exit from more than a dozen geographically disparate, older-vintage communities.  The communities were purchased in a sizeable portfolio transaction pre-COVID, under a value-add thesis of operator transitions to create regional groupings coupled with renovations and repositioning. Unfortunately, the cumulative impact of COVID followed by the unprecedented rise in interest rates created meaningful headwinds to the original thesis and drove a …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsFloridaMemory CareNews

SLIB Brokers Sale of 60-Unit Rosecastle of Deerwood Memory Care Community in Jacksonville

by Jeff Shaw

JACKSONVILLE — Senior Living Investment Brokerage (SLIB) has arranged the sale of Rosecastle of Deerwood, a 60-unit memory care community in Jacksonville. The asset was built in 2015 on approximately 3.4 acres. The buyer was a Florida-based entity using a 1031 exchange. The seller and price were not disclosed. Brad Clousing and Daniel Geraghty led the transaction for SLIB.

Continue Reading
0 FacebookTwitterLinkedinEmail
MissouriNewsOperationsPeople

Watermark Names Kathleen Nardoni as Executive Director of Community in St. Peters, Missouri

by Jeff Shaw

ST. PETERS, Mo. — Watermark Retirement Communities has named Kathleen Nardoni as executive director of The Watermark at St. Peters. Nardoni has a 15-year career in senior living, including all levels of care, marketing and administration, with responsibilities for opening a new independent living community. She is a licensed senior living administrator and spent time in law enforcement earlier in her career.  She holds a degree in criminal law.

Continue Reading
0 FacebookTwitterLinkedinEmail
FeaturesNews

Ancillary Service Providers in Skilled Nursing Share Tips for Success, Pitfalls to Avoid 

by Jeff Shaw

DALLAS — If it’s a financial windfall they’re seeking by entering the ancillary services business, skilled nursing providers are joining the fray for the wrong reason and are setting themselves up for disappointment, say seasoned professionals. Instead, the successful players in the ancillary space are the ones who undertake a patient-centered approach — whether it’s the launch of a pharmacy or rehabilitation services firm or behavioral health facility — and map out a plan for taking their business to the next level. “The most important thing to think about is …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAssisted LivingMichiganNews

Commonwealth Acquires Community in Wyoming, Michigan

by Jeff Shaw

WYOMING, Mich. — Commonwealth Senior Living has acquired a seniors housing community in the Grand Rapids suburb of Wyoming.  The buyer will rebrand the community as Commonwealth Senior Living at North Byron. This marks the third community for Commonwealth in the Grand Rapids area joining Commonwealth Senior Living at Grand Rapids and Commonwealth Senior Living at East Paris. The community currently features 102 assisted living and memory care units. Commonwealth Senior Living is planning a renovation of the community, primarily focused on enhancing the secure memory care neighborhood. The seller …

Continue Reading
0 FacebookTwitterLinkedinEmail
CCRCDevelopmentFinanceNewsOhio

EBSC Lending Provides $51.8M in Financing for Community Expansion in Garfield Heights, Ohio

by Jeff Shaw

GARFIELD HEIGHTS, Ohio — EBSC Lending has provided a $51.8 million loan for the expansion of a senior living and skilled nursing community located in Garfield Heights, a suburb of Cleveland.  The 294,083 square-foot project will add a four-story independent and assisted living building featuring 86 units. The expansion also includes a two-story skilled nursing building and a two-story health center with a physical and occupational therapy gym and memory care suites. Construction began in June 2021, and the new expanded spaces are slated to open in January 2025. The …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsMinnesotaNewsOperations

Health Dimensions Group Appointed to Manage Northern Lights Services Inc.

by Jeff Shaw

MINNEAPOLIS — Health Dimensions Group, a Minneapolis-based operator, has taken over day-to-day operations at Northern Lights Health Care Center and The Oaks at Northern Lights. HDG has been working closely with the communities’ teams since assuming operational oversight of Northern Lights Services on Feb. 1. In addition to Northern Lights Services, HDG manages 48 other senior living and care communities throughout the nation.

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsNewsPennsylvaniaSkilled Nursing

Continuum Agrees to Acquire Windy Hill Village in Philipsburg, Pennsylvania

by Jeff Shaw

PHILIPSBURG, Pa. — Continuum Healthcare has agreed to acquire Windy Hill Village, a seniors housing community in the tiny Central Pennsylvania borough of Philipsburg. Presbyterian Senior Living (PSL) is selling the asset for an undisclosed price. The transaction is scheduled to close this summer. PSL has owned and operated Windy Hill Village since 2003. The community features 90 skilled nursing beds, 18 personal care beds and five independent living rental cottages. PSL says it is divesting of the community to invest more resources in its continuing care retirement communities as …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsFinanceNewsSkilled NursingUtah

CFG Provides $16.3M Acquisition Financing for Two Skilled Nursing Facilities in Utah

by Jeff Shaw

UTAH — CFG, a subsidiary of CFG Bank, has provided $16.3 million in bridge-to-HUD financing for the acquisition of two skilled nursing facilities.  The properies, which are in Utah, support a total of 220 beds.  The deal allowed the undisclosed borrower to expand its footprint into a new state. Further details were not disclosed. Tommy Dillon of CFG originated the transaction.

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAffordable HousingGeorgiaNews

Hunt Capital Partners Transfers Ownership of 151-Unit Ashford Parkside Senior Residences in Atlanta to County Housing Authority

by Jeff Shaw

ATLANTA — On behalf of its investors, Hunt Capital Partners (HCP) has transferred ownership of Ashford Parkside Senior Residences to a nonprofit affiliate of the Housing Authority of DeKalb County.  Located in Atlanta, Ashford Parkside is a mid-rise, mixed-income seniors housing community built in 2007. Following the end of 15-year recapture period in 2022, a collaborative effort ensued between the nonprofit and HCP to reach a mutually beneficial outcome regarding the property’s future. The decision provides the Housing Authority of Dekalb County greater capital flexibility surrounding all aspects of property …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts