MILLVILLE, EGG HARBOR TOWNSHIP and HAMMONTON, N.J. — New Standard Senior Living has completed development of three Medicaid-focused assisted living communities in South Jersey. All three communities feature individual (single-occupant-only) studio apartment-style residences. The Millville community offers 154 units while the second, Egg Harbor Township location offers 166 units. The last of the initial three communities, located in Hammonton, is nearing its completion with 174 units this spring. The communities are the first of their kind in the state of New Jersey, according to New Standard, and are designated to …
MERRILLVILLE, Ind. — Evans Senior Investments (ESI) has arranged the sale of a 48-unit assisted living and memory care community in Merrillville. A regional family ownership group sold the asset to Lloyd Jones for an undisclosed price. The community was originally purpose built for memory care in 2016 and received in-place rates above $5,000 a month. In late 2019, the community began accepting assisted living residents due to slow lease-up velocity of the existing memory care units. The community experienced multiple bans on admissions due to COVID-19 outbreaks, with the …
FORT WAYNE, Ind. — Priority Life Care (PLC), a Fort Wayne-based operator, has named Brian Gallo as corporate director of culinary experiences. He will be responsible for enhancing and expanding PLC communities’ culinary departments through quality, presentation and overall experiences. As a graduate of Purdue University with a bachelor’s degree in hospitality and tourism management, Gallo has over 20 years of combined experience in the hospitality/healthcare field. He has experience from restaurant openings that included menu development, kitchen operational procedures and new management hires to working with struggling concepts to …
SHOREWOOD, Wis. — JLL Capital Markets has arranged the sale of and acquisition financing for the Oaks of Shorewood, a 101-unit active adult community in Shorewood, a northern suburb of Milwaukee. The four-story building offers a mix of one- and two-bedroom units averaging 1,115 square feet. The Oaks of Shorewood is near to Lake Michigan, the Milwaukee River, Hubbard Park & Beer Garden and the 50-acre Estabrook Park and Village’s main drive, which is known for eclectic boutiques and trendy restaurants. The affluent area boasts average home values of $425,000 …
CORAL GABLES, Fla. — Sunrise Senior Living has broken ground on its first community in metro Miami, Sunrise of Coral Gables. The 94-unit building is slated to rise six stories and total 90,000 square feet. Opening is scheduled for 2024. Sunrise’s in-house development and design teams are partnering with Coral Gables-based architecture firm Behar Font & Partners and general contractor Winmar Construction. The site for Sunrise of Coral Gables was chosen for its accessibility and convenience. On the main street of Ponce de Leon, the community has access to neighboring …
AURORA and LAKEWOOD, Colo. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of Hampden Hills Post Acute, a 218-bed skilled nursing facility in Aurora, and Mapleton Post Acute, an 84-bed skilled nursing facility in Lakewood. Both properties are located in first-ring suburbs of Denver. Ensign has signed long-term, triple-net leases for both. The owner was not disclosed. These acquisitions bring Ensign’s growing portfolio to 290 healthcare operations, 26 of which also include senior living operations, across 13 states. Ensign subsidiaries, including Standard Bearer, own 108 real estate …
CINCINNATI and CLEVELAND — Senwell Senior Investment Advisors has arranged the sale of two skilled nursing facilities in Ohio’s Cincinnati and Cleveland markets. The seller, a regional operator in the Midwest, opted to divest these properties as they were not aligned with the company’s core long-term care model. The communities were built in 2016 and 2017. The buyer was a Medicare-specialized operator from the West looking to expand its presence in Ohio. Senwell’s Ben Bohland facilitated the transaction.
EAGLE, Idaho — The Pennant Group Inc. (NASDAQ: PNTG), the parent company of the Pennant group of affiliated home health, hospice and senior living companies, has appointed Barry Smith as chairman of its board of directors and Brent Guerisoli as a member of its board of directors. Smith has served on Pennant’s board since 2021. He previously served as chairman and CEO of Magellan Health Inc., the nation’s largest provider of behavioral health services and a leading provider of pharmacy benefit management services, from 2013 to 2019. He was also …
CARLSBAD, Calif. — Funds advised by Lee Equity Partners LLC and Coastwood Senior Housing Partners LLC, two specialized investment firms, have made an investment in Integral Senior Living Management (ISL). As part of the investment, ISL will partner with Discovery Senior Living and form the fifth largest seniors housing operator in the United States. Lee Equity and Coastwood recently completed the recapitalization of Discovery Senior Living, which is led by CEO Richard Hutchinson. The investment in both companies by Lee Equity and Coastwood will create an opportunity to find synergies …
LAKEWOOD, Colo. — The Bascom Group, in partnership with Artemis Real Estate Partners, has acquired Avenida Lakewood, a 230-unit active adult community in Lakewood, just west of Denver. Avenida Partners built the community in 2019. The price was not disclosed. Ryan Maconachy and Courtney Crowder at Newmark brokered the transaction. Brian Eisendrath, Cameron Chalfant, Jesse Zarouk and Jake Vitta of IPA arranged the debt financing for the acquisition through Santander Bank. Apartment Management Consultants will provide property management services. The property is located near recreation, retail and entertainment options against …