TOLEDO, Ohio — Welltower (NYSE: WELL), the largest owner of seniors housing in the United States, has promoted Nikhil Chaudhri to executive vice president and chief investment officer and Ayesha Menon to executive vice president of wellness housing and development. Chaudhri previously served as co-head of U.S. investments. Since joining Welltower eight years ago as an associate, he has led many of the company’s most complex transactions. He holds an MBA from Columbia Business School and a BSE in computer science engineering from the University of Michigan. Menon drove the …
PHILADELPHIA — It is common to hear operators proudly profess that it’s their culture that allows them to be top employers in the seniors housing industry, helping to face the massive labor shortage within the sector. However, “culture” can be a nebulous word, and employee surveys show that what employees say makes for a good culture is far different from what the employers believe, according to Charles Turner, CEO of shift-filling software platform KARE. Turner, a former president of two operators in previous positions, didn’t pull punches regarding the overuse …
NASHVILLE, Tenn. — Brookdale Senior Living Inc. (NYSE: BKD), a Nasville-based company that is the largest operator of seniors housing in the country, has made a variety of changes to its corporate structure. Steven Swain, who serves as Brookdale’s chief financial officer, will leave the company on Feb. 24. Dawn Kussow, currently chief accounting officer, will replace Swain while continuing to serve in her current role. Meanwhile, Rick Wigginton was promoted to chief sales officer. Kevin Bowman, executive vice president of community operations, left the company on Jan. 12. Laura …
VIRGINIA — Blueprint Healthcare Real Estate Advisors has negotiated the sale of five seniors housing communities located in the Blue Ridge Mountains of Virginia. The properties total approximately 250 units. Three of the assets were constructed between 1997 and 2002, one was built in the early 1980s, and the last is a historic landmark dating back to 1916. A publicly traded REIT sold the assets to a family office experienced in turnaround projects. The price was not disclosed.
FORT WASHINGTON, Pa. — Acts Retirement-Life Communities, a nonprofit operator based in Fort Washington, has added James Glynn, Heinz Hegmann and Dr. Daniel Middlebrooks to its board of directors. Glynn is co-founder (now retired) of GlynnDevins, one of the leading technology-enabled marketing agencies serving the senior living category. He is a frequent presenter at national and state trade associations. He started in senior living in 1981 as the vice president of marketing at John Knox Village. He holds a bachelor’s degree in economics from Rockhurst University. Hegmann is a retired …
ALBUQUERQUE — JLL Capital Markets has arranged $51.8 million in construction financing for the development of Ativo of Albuquerque, a three-story, 144-unit senior living community in Albuquerque. JLL represented the borrower, Link Senior Development LLC, in securing the financing through an undisclosed lender. Once completed, Ativo of Albuquerque will offer a mix of independent living, assisted living and memory care units ranging from studio to two-bedroom units. Situated on 6.5 acres, the community will be adjacent to a new ambulatory urgent care center and a medical office building. The community …
LOS ANGELES — Blueprint Healthcare Real Estate Advisors has negotiated the sale of The Rehabilitation Center of Beverly Hills, a 150-bed skilled nursing facility in Los Angeles. The Rehabilitation Centre of Beverly Hills is a premier, state-of-the-art, all Medicare nursing facility located near Cedars-Sinai Medical Center, one of the most prestigious hospitals in the United States. A private, high-net-worth owner-operator based in Los Angeles was the buyer. The seller and price were not disclosed.
MEDFORD, MASS. — MassHousing has provided $13.5 million in financing for Riverside Towers, a 199-unit affordable seniors housing complex in Medford, located north of Boston. Built in 1979, Riverside Towers consists of 161 one-bedroom and 38 two-bedroom units in a 14-story building. The borrower, a partnership between metro Boston-based Schochet Cos. and Jonathan Rose Cos., will use the proceeds to fund capital improvements, enhance resident services and preserve the property’s affordability status.
JAY, Okla. — Plains Commercial has arranged the sale of Monroe Manor, a seniors housing community in Jay, a small city in the northeast corner of Oklahoma. Monroe Manor is a 1960s vintage skilled nursing facility licensed for 98 beds that was expanded in the early 1990s. The seller is an Oklahoma-based operator that was looking to exit the industry and retire. The buyer is an Illinois-based owner-operator that had previously operated in Oklahoma and was looking to re-enter the state. The sale involved a unique HUD deed restriction that …
CRYSTAL RIVER, Fla. — Health Services Management, a Crystal River-based skilled nursing and long-term care operator, has promoted Anita Mamone to chief legal and governance officer. Mamone will be responsible for the legal affairs of the entire corporation, including internal management of all litigation matters and outside counsel. She will also collaborate with senior management regarding compliance and strategic initiatives, while providing legal counsel to the board of directors, chairman of the board, CEO and other senior management. Mamone received a bachelor’s degree in criminology, criminal justice and corrections from …