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FinanceFloridaNews

BHI Provides $30M Refinancing for The Alomar in Davie, Florida

by Jeff Shaw

DAVIE, Fla. — BHI, a full-service commercial bank, has provided a $30 million refinancing for The Alomar, a 199-bed seniors housing community in Davie, a northern suburb of Miami. The borrower is Royal Senior Care, which owns and operates senior living facilities in the Southeast with a primary focus in South Florida. The facility, which opened in 2017, is spread over a three-building campus and includes independent living, assisted living and memory care. “Healthcare is a highly strategic vertical within BHI and Royal Senior Care has a robust track record …

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Company NewsFeaturesNews

Cornell Institute for Healthy Futures Plans Symposium

by Jeff Shaw

ITHACA, N.Y. — To celebrate its first symposium since 2016, Cornell’s Institute for Healthy Futures is convening industry leaders and academics from across health, hospitality and design to collaborate on ways these combined disciplines can improve quality of life. Held on the Cornell campus in Ithaca from May 11 to 13, the event will include lectures and panels led by economists, senior living and hospitality entrepreneurs, and healthcare practitioners and designers. Beth Mace, chief economist at the National Investment Center for Seniors Housing and Care (NIC), and Rohit Verma, founding …

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NewsPeopleTechnology

WelcomeHome Software Hires Patrick Sharp as Enterprise Account Executive

by Jeff Shaw

ATLANTA — WelcomeHome Software, a customer relationship management system for the seniors housing industry, has hired Patrick Sharp as an enterprise account executive. Sharp’s 18-year career in the software industry included roles in implementation, account management and sales. He spent 10 years at Horizon Software International, specializing in senior living dining and public education technology. He also served as a project-based consultant helping senior living operators evaluate software platforms.

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FeaturesFinanceNews

Don’t Expect ‘Pivot’ by The Fed on Interest Rates Until Late This Year, Says NIC’s Mace

by Jeff Shaw

SAN DIEGO — After eight consecutive interest rate hikes by the Federal Reserve since March 2022, borrowers and lenders are wondering when the central bank will reverse its tight monetary policy stance. Don’t hold your breath. “There had been an anticipation that the Fed would pivot, so to speak, by June. I don’t think that’s going to happen,” said Beth Mace, chief economist and director of capital markets outreach for the National Investment Center for Seniors Housing & Care (NIC). “When I say pivot, I mean when the Fed is …

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Assisted LivingDevelopmentLouisianaNews

Liberty Opens 93-Unit Adaptive Reuse of Former Courthouse in New Orleans

by Jeff Shaw

NEW ORLEANS — Liberty Senior Living has opened The Carrollton, a seniors housing adaptive reuse of a former courthouse in New Orleans. The community features 73 assisted living and 20 memory care units. The project renovated 16,000 existing square feet, while adding 85,000 more. Construction of Carrollton Courthouse and the adjacent jailhouse were commissioned by Jefferson Parish in 1854 and completed in 1855. Architect Henry Howard designed the property in the Greek Revival style. The Carrollton Courthouse served as the seat of government for Jefferson Parish until it was annexed …

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AcquisitionsMarylandMemory CareNevadaNews

Blueprint Brokers $37.5M Sale of Two Memory Care Communities in Nevada, Maryland

by Jeff Shaw

FREDERICK, Md., and SUMMERLIN, Nev. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of two newly constructed memory care communities. Located in Frederick and Summerlin, Silver Cos. developed the Class A communities with 60 units each, then leased them to Silverado. National Health Investors, a publicly traded REIT, acquired the properties for $37.5 million, representing $312,500 per unit and a yield of 7.5 percent. Silverado will stay on as operator.

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AcquisitionsCompany NewsFinanceNews

MidCap Financial Acquires Portion of Sector Financial’s Managed Healthcare Asset-Based Lending Portfolio

by Jeff Shaw

BETHESDA, Md. — MidCap Financial, a Bethesda-based lender focused on middle-market transactions, has acquired a “significant portion” of Sector Financial’s managed healthcare asset-based lending portfolio, totaling over $500 million in commitments and over $300 million in funded assets. “We are pleased to expand our portfolio and forge meaningful new partnerships with borrowers in one of our core verticals, serving as a leading capital provider to the healthcare industry and the middle market overall,” says Garrett Fletcher, product head of asset-based lending at MidCap Financial.

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CaliforniaCCRCDevelopmentFinanceNews

Ziegler Arranges $29M Financing for Ensō Verde Development in Simi Valley, California

by Jeff Shaw

SIMI VALLEY, Calif. — Ziegler has arranged $29 million in bond financing for Ensō Verde, a seniors housing currently under development in Simi Valley. The borrower is Kendal Corp., which began developing the continuing care retirement community in 2022. Locate don 21 acres, plans call for 237 independent living units, 24 assisted living units, 24 memory care units and related amenities and common areas. The California Public Finance Authority issued the unrated bonds, which are a mix of tax-exempt and taxable. The bonds will be used to purchase the development …

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FinanceMemory CareNewsTexasWisconsin

Lument Closes Four Bridge Loans Totaling $78M for Acquisition, Refinancing of Memory Care Portfolio

by Jeff Shaw

TEXAS and WISCONSIN — Lument has closed a series of bridge loans totaling more than $78 million to acquire or refinance four memory care facilities totaling 311 beds in Texas and Wisconsin. The borrower is Silverado, a large memory care operator with communities throughout California, Kansas, Nevada, Maryland, Texas, Illinois, Virginia, Washington, and Wisconsin. Doug Harper, Chris Mauger, and Casey Moore led the transaction for Lument. The four loans were underwritten with a 36-month initial term and one-year extension, with earn-outs for each loan and variable interest rates. The deal …

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ColoradoMemory CareNewsPeople

Anthem Memory Care Appoints Trisha Thomas as Executive Director for Community in Aurora, Colorado

by Jeff Shaw

AURORA, Colo. — Anthem Memory Care has named Trisha Thomas as executive director for Chelsea Place, a memory care community in Aurora. In this capacity, she will oversee all daily care, programming and operations. Thomas previously was executive director with Brookdale Westland Meridian in Lakewood. She also served as executive director for Pinehurst Park Memory Care in Denver. Thomas brings over 20 years of senior living and 15 years of nursing experience to this position. She earned an associate’s degree in nursing from Denver School of Nursing.

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