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AcquisitionsCCRCMichiganNews

Blueprint Brokers Sale of 374-Unit Samaritas CCRC in Grand Rapids, Michigan

by Jeff Shaw

GRAND RAPIDS, Mich. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a continuing care retirement community (CCRC) in Grand Rapids. Blueprint was selected by Samaritas, a Michigan-based nonprofit owner and operator, to negotiate the disposition. Since its original construction in 1977, the 40-acre community has grown to include 24 independent living cottages, 148 independent living apartments, 17 assisted living units, a 60-unit memory care community, and a 125-bed skilled nursing and long-term care facility. The buyer was Optalis Healthcare, a post-acute rehabilitation and long-term care provider across …

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NewsPeopleTexas

Lifespace Hires David Gustafson as Executive Director of Meadow Lake in Tyler, Texas

by Jeff Shaw

TYLER, Texas — Lifespace Communities has hired David Gustafson as executive director at Meadow Lake in Tyler, approximately midway between Dallas and the Louisiana border.  Gustafson previously held leadership roles at Aegis Living, Discovery Senior Living and Watermark Retirement Communities.  Gustafson earned his bachelor’s degree in business administration from the University of South Florida. He is also a Licensed Administrator for Assisted Living Facilities in Texas and a Licensed Dementia Care Practitioner.

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AcquisitionsIllinoisMemory CareNews

Blueprint Brokers Receivership Sale of 42-Unit Gurnee Place Memory Care in Illinois

by Jeff Shaw

GURNEE, Ill. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Gurnee Place Memory Care, a 42-unit memory care community located in Gurnee, approximately midway between Chicago and Milwaukee.  Blueprint was engaged by a receiver to maximize proceeds for the bank and stakeholders involved. At the time of marketing, the community was 90 percent occupied and cash-flowing. Blueprint marketed the opportunity by promoting the upside of the strong performance trends and implementing minor expense efficiencies through regional operations. The buyer was a Minnesota-based private equity firm previously focused …

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AcquisitionsNebraskaNewsSkilled Nursing

ESI Arranges Sale of 97-Bed Holmes Lake Rehabilitation & Care Center in Lincoln, Nebraska

by Jeff Shaw

LINCOLN, Neb. — Evans Senior Investments (ESI) has arranged the sale of Holmes Lake Rehabilitation & Care Center, a skilled nursing facility in Lincoln.  The transaction was executed on behalf of an independent owner-operator that was ready to transition out of the industry. A regional owner-operator acquired the asset for an undisclosed price. Holmes Lake Rehabilitation & Care Center was built in 1974. Located on a seven-acre property, the facility features 97 skilled nursing beds spread across 51 rooms. When ESI began the marketing of Holmes Lake, the occupancy rate …

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Legal IssuesNewsPeople

Covenant Living Names Cory Kallheim as General Counsel

by Jeff Shaw

SKOKIE, Ill. — Covenant Living Communities and Services, a Skokie-based nonprofit owner-operator, has promoted Cory Kallheim to general counsel. Kallheim replaces David Erickson, who was promoted to president and CEO. Kallheim has been with Covenant Living for more than two years serving as vice president and associate general counsel. In his new role, he will be responsible for overseeing all legal aspects of Covenant Living’s operations, ensuring the organization remains compliant with all relevant laws and regulations, while also supporting strategic initiatives. Prior to Covenant Living, Kallheim worked for more …

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CCRCFloridaNewsPeople

Lifespace Hires Patrick Noonan as Executive Director of Harbour’s Edge in Delray Beach, Florida

by Jeff Shaw

DELRAY BEACH, Fla. — Lifespace Communities has hired Patrick Noonan as executive director at Harbour’s Edge, a continuing care retirement community in Delray Beach.  Noonan has over 30 years’ experience leading senior living operations and managing healthcare administration, most recently serving as executive director at The Glenview at Pelican Bay in Naples.  Noonan earned his bachelor’s degree in business administration from Fontbonne University in St. Louis. He is also a Licensed Nursing Home Administrator in Florida and a Licensed Florida Community Association Manager.

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Assisted LivingDevelopmentNewsTexas

Thrive Senior Living Breaks Ground on 75-Unit Encore at Heritage-Glen in Fort Worth, Texas

by Jeff Shaw

FORT WORTH, Texas — Thrive Senior Living and Orison Holdings have broken ground on Encore at Heritage-Glen in the Alliance area of North Fort Worth. Arrive Architecture Group designed the project, which will feature 50 assisted living units and 25 memory care units. The groundbreaking of Encore at Heritage-Glen follows closely behind the announcement of the International at Aventura, Thrive Senior Living’s latest development in the state of Florida.

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FinanceNewsOhioSkilled Nursing

CFG Provides $12.5M Bridge Loan for Skilled Nursing Facility in Ohio

by Jeff Shaw

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.

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AcquisitionsMassachusettsNewsOperations

Blueprint Negotiates Tenant Replacement for Hathorne Hill in Danvers, Massachusetts

by Jeff Shaw

DANVERS, Mass. — Blueprint Healthcare Real Estate Advisors has arranged a new operator for Hathorne Hill, a skilled nursing facility in the Boston suburb of Danvers. Blueprint was engaged by both the developer landlord and existing tenant to secure a new operator and lease arrangement.  Located across the street from Beverly Hospital at Danvers and within close proximity to several other referral sources in this densely populated suburb, the facility was constructed in 2012 and is the newest skilled nursing facility serving the local submarket. The facility’s census quickly rebounded …

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