NAPLES, Fla. — Senior living operator, developer and investor Distinctive Living has acquired ownership of Seascape at Naples, a community located in Naples, in a joint venture with an undisclosed global investment firm. Totaling 198 units, Seascape at Naples features independent living, assisted living and memory care residences. Amenities at the property, which Distinctive Living manages, include a heated pool, bistro, salon, spa, fitness center, outdoor courtyard and walking paths. According to the company, having partial ownership will allow Distinctive Living to fully integrate its proprietary operation solutions. “Seascape at Naples …
ALEXANDRIA, Va. — Argentum, a national association representing senior living communities, has announced the appointment of Amy Porchetta to the role of vice president of development and revenue operations. Most recently, Porchetta — who has more than 20 years of experience in fundraising, corporate partnerships and strategic growth — served as the senior director of business development at the USO. In her new role at Argentum, Porchetta will oversee revenue generation initiatives, corporate partnerships and development strategies to advance Argentum’s mission. “Amy’s proven track record in building high-impact partnerships and driving …
LONG BEACH, Calif. — Quality Senior Housing Foundation and Sunrise Senior Living have received $80.1 million in financing for the development of a new community in Long Beach. JLL Capital Markets and H.J Sims arranged the tax-exempt bond financing on behalf of the borrowers. Quality Senior Housing Foundation will own the community, which Sunrise Senior Living will operate. Upon completion, the property — Sunrise of Long Beach — will comprise 102 licensed beds across 86 apartments. Residences will include 62 assisted living units and 24 memory care units. Sunrise Development Inc. …
MURFREESBORO, Tenn. — National Health Investors (NYSE: NHI), has issued a formal, written notice to an affiliate of National HealthCare Corp. (NYSE: NHC) that the tenant is in default under its master lease with NHI. According to NHI, NHC is in non-compliance with multiple non-monetary provisions of the master lease agreement, which dates back to October 1991. The affiliate of NHC occupies 32 of NHI’s skilled nursing facilities and three of the company’s independent living facilities. According to an SEC filing by NHC, the company’s lease agreement with NHI includes a …
MANSFIELD, Texas — Sonida Senior Living has completed the acquisition of a 98-unit community located in Mansfield. Sonida purchased the property for $15.6 million, funding the transaction with cash on hand and proceeds from its senior secured revolving credit facility. Built in 2016, the property features 62 assisted living and 36 memory care residences and is situated directly across form a 294-bed hospital. Sonida plans to complete aesthetic improvements to common areas and amenity spaces over the next year. This acquisition brings Sonida’s total Texas portfolio to 21 properties.
CHICAGO — Blueprint has brokered the sale of a 469-bed skilled nursing portfolio located in Texas. The portfolio, which comprises five facilities, was 71 percent occupied at the time of sale. An established skilled nursing owner and operator acquired the portfolio for an undisclosed price. Amy Sitzman and Giancarlo Riso of Chicago-based Blueprint arranged the sale on behalf of the seller.
ATLANTA — In today’s high-cost environment where obtaining development financing remains tricky, seniors housing builders are focused on cutting expenses — whether it be shrinking spaces or eliminating underutilized amenities altogether. That was the major takeaway from the development panel at the 12th annual InterFace Seniors Housing Southeast conference, which took place at the InterContinental Hotel in Atlanta on Wednesday, Aug. 27. The panel, which was titled “When Will Development Rebound? Outlook & Strategies for 2026,” included Richard Ackerman, managing partner of Big Rock Partners; Joe Jasmon, CEO of American …
SAN ANTONIO, Texas — Helios Healthcare Advisors has arranged a $10.7 million HUD-insured refinancing for a portfolio comprising 76 assisted living and memory care units in the San Antonio metro. Located within two suburbs of San Antonio, the units are situated within two communities. Prior to securing this refinancing, Helios arranged an 18-month bridge loan to recapitalize the properties. The borrower is a regional owner and operator with a portfolio comprising more than 700 units within Texas.
AUSTIN, Texas — It’s often been said that those who ignore history are frequently condemned to repeat it, cautions Bob Kramer, founder and former CEO of the National Investment for Seniors Housing & Care (NIC). “By looking back at the past 30 years of growth in our industry, we’re presenting to you today six lessons learned from both the successes — they’ve been notable — and the mistakes and failures so that hopefully we can all be wiser in the next growth cycle,” emphasized Kramer during a lively panel session …
SAN ANTONIO — Carbon Shepherd Development, a partnership between two commercial real estate firms, is preparing to welcome residents to Woodland Cottages Westover Hills, a gated active adult retirement community with single-family residences in San Antonio. The 78-cottage community officially opens later this month and features a community center and pool as well as an outdoor pickleball court. An all-inclusive monthly rate includes utilities, Wi-Fi, trash service, pest control and maintenance. This is the third Woodland Cottages location; Carbon Shepherd has others in Belton and College Station, Texas.