WICHITA, Kan. — Anthem Memory Care has named Sara Miller as executive director for Chisholm Place in Wichita. She will oversee all daily care, programming and operations. Miller previously was residence director and assistant residence director with Legend Senior Living. She brings over 16 years of healthcare experience to this position. Miller earned a bachelor’s degree in health services management and community development with a minor in aging studies from Wichita State University.
CHICAGO — Life Care Services has opened the doors on Clarendale Six Corners, a 258-unit seniors housing community in the Portage Park neighborhood of northwest Chicago. Rising 10 stories at the intersection of Milwaukee Avenue and Irving Park Road, the community features 114 independent living apartments with one, two and three-bedroom layouts, 98 assisted living units and 46 memory care apartments.
CALIFORNIA — Forbright Bank and HJ Sims have partnered to finance the acquisition of two skilled nursing facilities in California. The skilled nursing facilities feature approximately 150 beds. The borrower plans to invest in the physical plants of both facilities. The financing partners described the buyer as “a top-tier skilled nursing operator.” Further details on the properties, buyer and seller were not disclosed. Forbright and HJ Sims closed a unique unitranche loan product to provide financing for the acquisition. This loan product acts as a single debt obligation with one …
MINNEAPOLIS — Health Dimensions Group (HDG), a Minneapolis-based senior living, post-acute and long-term care management and consulting organization, has added three members to its financial leadership team. Melissa Zygarlicke joined HDG as senior director of finance to oversee all aspects of financial reporting and accounting for communities within HDG’s management portfolio. A certified public accountant and experienced chief financial officer, her areas of expertise include financial statement analysis, risk and compliance management, and financial reporting. Carmen Broska was promoted to senior director of revenue services. In her role, Broska manages …
On its surface, now is a difficult time to be in seniors housing development or operations. Rising interest rates have made financing or refinancing challenging. Occupancy rates, while improving, are still well below pre-pandemic levels. Expenses have increased dramatically, particularly for labor, while rent increases haven’t been able to keep up. JP LoMonaco, now an appraiser with CBRE after the company bought his former appraisal firm Valuation & Information Group in June, notes that the work he does reflects the tough times. “We saw a sudden shift from new loan …
HARTLAND and GRAND BLANC, Mich. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two Bella Vita-branded seniors housing communities in Michigan. The communities are located approximately 26 miles from each other between Detroit and Flint. Bella Vita – Hartland is located on 6.8 acres and totals 41,534 square feet of livable area, with 61 units offering both assisted living and memory care. Bella Vita- Grand Blanc is located on 4.65 acres and totals 41,508 square feet of livable space, with 61 units also providing both assisted living …
BLOOMFIELD, N.J. — Juniper Communities, a Bloomfield-based operator, has promoted Kathryn Bainbridge to regional director of operations for Texas. Bainbridge will support five Juniper Villages-branded communities within the state serving as a resource to the executive directors and leadership team members. For the past 4.5 years, Bainbridge was the nursing home administrator at Juniper Village at Brookline Rehabilitation and Skilled Care in State College, Pennsylvania. In all, she has been with Juniper Communities about nine years, and has worked in senior living for more than 20 years. Bainbridge received her …
NORTH BRUNSWICK, N.J. — JLL Capital Markets has arranged $47 million in financing for the recently constructed Amaranth at North Brunswick, a 222-unit active adult community in North Brunswick, approximately midway between Newark and Trenton. JLL represented the borrower, The Kaplan Companies, in securing the seven-year, fixed-rate loan from Nuveen Real Estate. Proceeds were utilized to retire its existing construction loan. Amaranth at North Brunswick features one- and two-bedroom floorplans with up to 1,397 square feet of living space. Michael Klein, Matthew Pizzolato and Michael Meisner led the JLL Capital …
CALIFORNIA — BWE has provided five Freddie Mac Targeted Affordable Housing loans to refinance four affordable housing developments in El Dorado County and one in Sonoma County. Jon Killough and John Roberts, Vice President in the firm’s originated the loans on behalf of the undisclosed borrower. “California remains a center of the country’s housing crisis, so it’s critical that low-income housing developments like these have the financing they need to thrive and serve their residents,” says Killough. The five loans include:
PORTLAND, Ore. — Vassar Byrd has announced plans to resign as CEO of Rose Villa, the nonprofit continuing care retirement community (CCRC) in Portland she has served for 17 years. Byrd’s decision follows the completion of Rose Villa’s 10-year master plan and campus redevelopment. A departure date has not been set and Byrd will continue serving as CEO while an executive search is underway. Byrd joined Rose Villa in 2006. In 2014, she spearheaded a comprehensive campus redevelopment that has earned recognition and industry accolades for its award-winning design, environmentally …
