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AcquisitionsNewsOregon

SLIB Negotiates Sale of 25-Unit Clackamas View in Milwaukie, Oregon

by Jeff Shaw

MILWAUKIE, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Clackamas View, an independent living, assisted living and memory care facility in Milwaukie, just south of Portland. The facility consists of 25 units and was built in 2012. The property totals 15,132 square feet on approximately 1.42 acres of land. The buyer was a private investor that will lease the community to a local operator. The buyer plans to spend money on capital improvements and focus on private pay residents. Jason Punzel, Brad Goodsell, Vince Viverito and …

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Affordable HousingDevelopmentNewsPennsylvania

Pennrose Breaks Ground on 51-Unit Affordable Community in Philadelphia’s Chinatown Neighborhood

by Jeff Shaw

PHILADELPHIA — Pennrose has broken ground on 800 Vine Senior, which will convert an underutilized surface parking lot in Philadelphia into a 51-unit affordable seniors housing development. Located in the Chinatown neighborhood of Philadelphia, the community is scheduled to open in summer 2024. The five-story building will feature 51 units with a mix of studio, one- and two-bedroom apartments. Six units will be available for residents earning up to 20 percent of area median income (AMI), 20 units will be available for seniors earning at or below 50 percent of …

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Assisted LivingFinanceIllinoisNews

Greystone Provides $35.7M HUD Refinancing for Two Supportive Living Facilities in Illinois

by Jeff Shaw

ILLINOIS — Greystone has provided a total of $35.7 million in HUD-insured loans to refinance two supportive living facilities in Illinois. The two properties consist of a total of 272 units between the two buildings, built in 2004 and 2005. Eric Rosenstock originated the financing on behalf of Grand Lifestyles. Greystone’s HUD-insured, non-recourse loans both carry 35-year terms, full-term amortization, and low, fixed rates.

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AcquisitionsGeorgiaNewsSkilled Nursing

ESI Arranges $12M Sale of Skilled Nursing Facility in Spalding County, Georgia

by Jeff Shaw

SPALDING COUNTY, Ga. — Evans Senior Investments (ESI) has arranged the sale of a 148-bed skilled nursing facility in Spalding County, approximately 40 miles south of Atlanta. A regional owner-operator sold the asset to CareTrust REIT for $12 million, or $81,000 per bed. The community was originally built in 1968 and underwent a significant renovation in 2022. At the time of marketing, the community was 95 percent occupied. CareTrust partnered with Florida-based Elevation Group to operate the facility.

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AcquisitionsAssisted LivingIowaNews

SLIB Negotiates Sale of 96-Unit Portfolio in Iowa

by Jeff Shaw

OTTUMWA and FORT MADISON, Iowa — Senior Living Investment Brokerage (SLIB) has arranged the sale of two assisted living and memory care communities totaling 96 units in Iowa. The properties are located in Ottumwa, just north of the Missouri border, and Fort Madison, just across the Mississippi River from Illinois. The facilities were built in 2007 and 2008. The properties are 40,939 and 38,947 square feet, and are situated on approximately 6.95 and 8.26 acres of land. The buyer was an Iowa-based owner-operator that plans to invest in enhancing the …

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AcquisitionsCompany NewsNewsTechnology

Uniguest Expands Senior Living Engagement Offering with Acquisition of Eversound

by Jeff Shaw

NASHVILLE, Tenn. — Uniguest, a Nashville-based digital engagement company, has acquired Eversound, a technology and content provider specializing in creating engagement for senior living communities. Founded in 2015 out of Cornell University’s eLab business accelerator, Boston-based Eversound now helps tens of thousands of older adults in over 1,000 communities live more socially connected lives. Eversound technology is known to reduce social isolation, slow cognitive decline and break down barriers common in a senior living environment. Eversound’s membership program provides advanced wireless headphones to increase accessibility for residents of varying levels …

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Active AdultFeaturesNews

Why Active Adult Is Piquing the Interest of Investors

by Jeff Shaw

DALLAS — Investors are drawn to the fledgling active adult segment for several reasons, according to Caroline Clapp, senior principal, research and analytics, for the National Investment Center for Seniors Housing & Care (NIC). For starters, it’s a new property type and emerging market that is relatively easy for prospective owners and operators to enter. The average resident turnover per year at an active adult property is 20 percent versus 50 percent for a traditional multifamily community, NIC research shows. The average length of stay at active adult communities is …

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FeaturesLegal IssuesNews

Argentum Targets Legislative Advancements at Executive Conference

by Jeff Shaw

NEW ORLEANS — Although the proposed Safeguarding Elderly Needs for Infrastructure and Occupational Resources (SENIOR) Act never was passed by the federal government in 2022, the fight isn’t over. The goal of that act is to establish a $100 billion fund that builds upon critical infrastructure demands for infection prevention and control; invests in broadband and telehealth capabilities; creates a sustainability fund to ensure seniors’ long-term care needs are exceeded; and invests in workforce training and development. Argentum, an association for professionally managed senior living communities, hopes to bring back …

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CCRCFinanceFloridaNews

Ziegler Arranges $142.6M Bond Financing for Presbyterian Retirement Communities CCRCs in Florida

by Jeff Shaw

CHICAGO — Ziegler, a Chicago-based specialty investment bank, has arranged $142.6 million in bond financing for Presbyterian Retirement Communities (PRC). PRC is a nonprofit corporation originally chartered in 1954 in the state of Florida and has communities throughout Florida. PRC and its affiliates are a part of Westminster Communities of Florida and constitute the largest group of continuing care communities (CCRCs) in Florida with a total of 3,643 units. According to the 2022 LeadingAge Ziegler 200 Report, PRC and its affiliates are the 11th largest nonprofit operator of senior living …

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