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JLL Survey: Investor Interest in Seniors Housing Increases as Pandemic Concerns Ease

by Jeff Shaw

CHICAGO — Despite pricing uncertainties limiting capital markets activity, interest in seniors housing remains strong as investors seek higher yields from alternative asset classes, according to JLL’s Valuation Advisory group’s sixth annual Seniors Housing Investor Survey and Outlook. Of the investors surveyed by the Chicago-based valuation group, 44 percent indicated they would increase their exposure to seniors housing in 2023, and 44 percent said they would make no change to their current investments. Only 12 percent of investors surveyed responded that they would decrease their exposure in 2023. Investors are …

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Assisted LivingCaliforniaFinanceNews

Lument Provides $7.5M Fannie Mae Refinancing for Carlton Senior Living in Sacramento

by Jeff Shaw

SACRAMENTO — Lument has provided a $7.5 million Fannie Mae loan to refinance Carlton Senior Living, a 56-unit assisted living community in Sacramento. Built in 2008, Carlton Senior Living is located on the Carlton Senior Living Continuum of Care Campus, next to a 128-unit assisted living and memory care community that was refinanced in 2016, also with assistance from Lument. When it first opened, Carlton Senior Living was serving high-acuity assisted living residents. In 2021, the borrower altered its strategy and catered it services more toward traditional assisted living. The …

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AcquisitionsIndependent LivingNewsOhio

Blueprint Negotiates Sale of 75-Unit Independent Living Community in Westlake, Ohio

by Jeff Shaw

WESTLAKE, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Our House, a 75-unit independent living community on nine acres in the Cleveland suburb of Westlake. The sale included a home health program that operates exclusively at the community. The seller was a family owner-operator that managed the community for over 40 year. The seller elected to undergo renovations before the sale to receive an assisted living license, as many buyers were interested in using the Ohio Assisted Living Medicaid Waiver Program. The buyer was a Columbus-based …

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NewsOperationsPeople

Priority Life Care Promotes Three

by Jeff Shaw

FORT WAYNE, Ind. — Priority Life Care (PLC), a Fort Wayne-based operator, has promoted Mark Starks to senior vice president of operations, David Kloster to vice president of operations and Marisa Williams to senior director of sales and training. Starks is responsible for upholding the profitability and values of Priority Life Care by leading business strategy and operations. He works with the PLC leadership team to determine and develop business needs, goals and initiatives. He has over 15 years in the field and is a nurse and clinical trainer. Kloster …

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Affordable HousingDevelopmentMassachusettsNews

Beacon, Harborlight Plan Intergenerational Adaptive Reuse of Former Briscoe School in Beverly, Massachusetts

by Jeff Shaw

BEVERLY, Mass. — Beacon Communities and Harborlight Homes have received financing to redevelop the former Briscoe School in Beverly into a mixed-use community centered around affordable housing for seniors. Located near the Atlantic Ocean approximately 15 miles north of Boston, the property will be called Beverly Village for Living and the Arts. The financing marks the first time a Massachusetts affordable housing deal has benefitted from funding from the American Rescue Plan Act (ARPA), as well as local, state and additional federal funding, according to the development team. Former classrooms …

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NewsPeople

Acts Promotes David Vega to Vice President Position

by Jeff Shaw

FORT WASHINGTON, Pa. — Acts Retirement-Life Communities, a nonprofit operator based in Fort Washington, has promoted David Vega to vice president of operations analysis and compliance. Vega has been with Acts for more than 31 years, starting his career in the accounting department. He previously served as corporate director of compliance, where he led all aspects of the organization’s compliance and internal audit functions. He will continue overseeing those areas, with expanded responsibilities as the organization continues to grow and expand. Vega received his bachelor’s degree in business administration from …

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AcquisitionsNewsUtah

Stellar Senior Living Acquires 103-Unit Anthology of South Jordan in Utah

by Jeff Shaw

SOUTH JORDAN, Utah — Stellar Senior Living has acquired Anthology of South Jordan, a 103-unit community in South Jordan, a suburb of Salt Lake City. The new owner has changed the name to Copper Creek Senior Living. The property, which opened in 2018, offers independent living, assisted living and memory care services. Copper Creek is located near retail, entertainment, recreational and healthcare destinations. Blueprint Healthcare Real Estate Advisors represented the seller, CA Ventures, in the transaction. Utah-based Stellar Senior Living is a family-owned senior living provider operating 28 senior living …

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Company NewsNewsPeople

Ventas Promotes Justin Hutchens to Chief Investment Officer

by Jeff Shaw

CHICAGO — Ventas Inc. (NYSE: VTR), a Chicago-based REIT and the second-largest owner of seniors housing in the United States, has promoted J. Justin Hutchens. The longtime seniors housing executive will maintain his title of executive vice president of seniors housing, but take on the additional role of chief investment officer. In his expanded role, Hutchens will be responsible for Ventas’ capital allocation strategy and execution across the enterprise in addition to his current responsibility for the company’s seniors housing portfolio. He will oversee both the seniors housing and investments …

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AcquisitionsAssisted LivingNewsUtah

1031 Crowdfunding Acquires 178-Unit Portfolio in Utah

by Jeff Shaw

ST. GEORGE and LINDON, Utah — 1031 Crowdfunding has acquired its first two seniors housing communities in Utah. Totaling 178 units of assisted living and memory care, the communities are located in the Provo suburb of Lindon and St. George, which is located approximately 130 miles northeast of Las Vegas. Both properties total 156,473 square feet across 5.85 acres, offer seven-year leases, and are within a four-mile radius of local hospitals. “As 1031 Crowdfunding continues to grow, we plan to move into other regions of the country,” says Edward Fernandez, …

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NewsPeople

FK Architecture Hires John Anderson, Linda Rodriguez, Hamilton Carias

by Jeff Shaw

WINTER PARK, Fla. — FK Architecture, a Winter Park-based design firm that works in seniors housing, has hired John Anderson, Linda Rodriguez and Hamilton Carias to its team. Anderson and Rodriguez joined the firm as architectural designers, while Carias is a construction administrator. Anderson has five years of experience designing commercial projects, including retail, restaurants, storage facilities and mixed-use developments. He earned his bachelor’s degree in architectural design from the University of Central Florida and his master’s degree in architecture from the School of the Art Institute of Chicago. Rodriguez …

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