MCMINNVILLE, Ore. — The Springs Living, a McMinnville-based operator, has appointed two new regional directors of operations (RDOs). Ole Lindbo, who is new to the organization, has been named RDO of the northern Oregon region. Tim Minks, who has served as an executive director at The Springs Living for more than three years, will become RDO of the Montana region. With over 15 years of experience leading senior living communities, Lindbo comes to The Springs Living from his previous role as RDO at Sapphire Health Services in Oregon. Previously, he …
SCOTTSDALE, Ariz. — Cogir Senior Living and Ryan Cos. US Inc. have opened ACOYA Shea, an independent living, assisted living and memory care community in the Phoenix suburb of Scottsdale. The community features 147 units in a four-story building. “ACOYA Shea is located right in the heart of Scottsdale, and residents will be able to enjoy the walkability of the community and the proximity to all that the area has to offer,” says Dave Eskenazy, chief executive officer of Cogir Management USA. Cogir Senior Living develops, owns and/or operates 60 …
MINNESOTA, OHIO and WISCONSIN — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, provided a $29.5 million bridge loan for a portfolio of five skilled nursing and assisted living facilities in Minnesota, Ohio, and Wisconsin: The Landing at Stow, Evansville Manor Nursing and Rehabilitation, Edenbrook Fond du Lac, Edenbrook of Rochester, and Edenbrook of Edina. Together, the facilities consist of 441 beds across 25 acres. The purpose of the loan was to refinance three of the facilities and acquire the other two. Dwight has financed over 20 facilities for …
LOS ANGELES — Standard Communities has led a public-private partnership that acquired six Section 8 communities in Los Angeles County with a total of 407 units. Five of the communities are affordable seniors housing. Standard will extend the communities’ affordability by 20 years under new HUD Housing Assistance Payments contracts. The transaction has a total capitalization of approximately $122 million, including planned renovation costs of over $8 million. The six communities were built between 1969 and 1980. “Extending the affordability of all 407 apartment units isn’t just a matter of …
MANASSAS, Va. — Commonwealth Senior Living has acquired UVA Health Caton Merchant House, a seniors housing community in the western D.C. suburb of Manassas. The purchase marks the buyer’s 28th community in Virginia, and it will be rebranded as Commonwealth Senior Living at Manassas. Commonwealth plans to implement a complete renovation which includes updating all of the apartments and public areas as well as the addition of a new memory care neighborhood. The community currently features only assisted living. Other amenities for the renovation include a new dining room; a …
HUMBLE, Texas — Lument has provided a $13.4 million Fannie Mae loan to refinance The Fordham at Eagle Springs, an active adult community in Humble, a northern suburb of Houston. Tom Dixon, a director in affordable housing production based in Charlotte, North Carolina, led the transaction for Lument. The Fannie Mae loan has a 10-year term, four years of interest-only payments, 30-year amortization and a fixed interest rate. The Fordham at Eagle Springs was built in 2020 and consists of six buildings housing 137 units. The property is located within …
WEST DUNDEE, Ill. — McShane Construction has completed The Woodlands at Canterfield, a 131-unit senior living development in West Dundee, approximately midway between Chicago and Rockford. Built for Westbrook at Canterfield, LLC, The Woodlands at Canterfield comprises 91 assisted living units and 40 memory care beds as well as 16,000 square feet of amenity space. Positioned on a nine-acre site, the one-, two- and three-story building features a fiber cement panel and stone veneer exterior. Units are offered in studio, one- and two-bedroom options AG Architecture is the architect and …
CHICAGO and ANNAPOLIS, Md. — Older adults have heightened vulnerability to illness and impaired mobility prior to, and just after, entering a seniors housing and care property, new research shows, but frailty levels then quickly plateau and ultimately decline. The research was conducted by NORC at the University of Chicago, funded through a grant from the National Investment Center for Seniors Housing & Care (NIC), an Annapolis-based data firm serving the seniors housing industry. In a review of Medicare claims of residents from 14,201 senior living properties and using a …
NEWTON, Mass. — Diversified Healthcare Trust (NASDAQ: DHC) has made changes to its Board of Trustees and executive leadership team, amonth other actions, to address its near-term capital needs, including DHC’s pending debt maturities. Phyllis Hollis has been appointed as an independent trustee of the DHC board. She previously worked as an executive at an investment bank and has extensive experience in finance and executing capital markets transactions. She will serve on DHC’s audit committee and compensation committee, which she will chair. In addition, DHC has appointed Matthew Brown as …
ATLANTA — The Senior Living Transformation Co. (SLTC) has acquired a 113-unit assisted living and memory care community in partnership with Omega Healthcare Investors (NYSE: OHI). The Senior Living Transformation Center, known as The Rivers at Maryland Farms, is the first acquisition and demonstration pilot for the newly formed partnership. The objective of the partnership is to create both an innovation center for technology and data solutions for the seniors housing industry and to demonstrate a new model of care within seniors housing. SLTC was recently formed by leading senior …