MASSACHUSETTS — Capital Funding Group (CFG) has provided a $17.3 million in bridge-to-HUD financing for the acquisition of three skilled nursing facilities in Massachusetts. The facilities support 322 beds. The buyer, seller, price and names/locations of the properties were not disclosed. Craig Casagrande and Catherine Mansel originated the transaction for CFG.
ST. PETERS, Mo.; WEST CHESTER, Pa.; and FORT WORTH, Texas — Life Care Services, an LCS Company, has been selected as the management partner for three communities owned by affiliates of Longview Senior Housing. The announcement expands the total number of Longview communities managed by Life Care Services to seven. The properties include:
GRAPEVINE, Texas — Pegasus Senior Living will assume the management of eight communities in Texas and New Mexico. The Properties are currently operated by LifeWell Senior Living under its Legacy brand name. The eight communities collectively total 652 units. All locations offer both assisted living and memory care. With the addition of the eight LifeWell communities, Pegasus will operate 43 senior living communities, with 13 located in Texas and New Mexico. Further details were not disclosed.
REDMOND, Wash. — Emerald Communities, a Redmond-based nonprofit owner-operator serving Emerald Heights and Heron’s Key, has hired Sandra Cook as vice president of marketing and public relations. After 32 years of serving Emerald Communities, Kay Wallen, outgoing vice president of marketing and public relations, is stepping down to retire. Cook is assuming the role effective immediately. Cook will be responsible for the oversight, direction and operations of marketing and public relations for Emerald Communities, Heron’s Key and Emerald Heights. She will develop, implement and monitor marketing plans to meet sales …
FORT MYERS, Fla. — Ziegler has arranged $150 million in bond financing for Shell Point Retirement Community, a nonprofit, faith-based continuing care retirement community (CCRC) in Fort Myers. Shell Point currently consists of 1,334 independent living units, 356 assisted living units and 180 skilled nursing beds located in seven distinctive neighborhoods: The Island, Palm Acres, The Woodlands, Eagles Preserve, The Enclave, The Estuary and Waterside. The property features a wide array of home styles, resort amenities and services. The community is located on 700 acres along the Caloosahatchee River. Shell …
OHIO — Evans Senior Investments (ESI) has arranged the sale of a three-property portfolio in Western Ohio. The transaction was executed on behalf of the Mariner Management Group Inc., an independent owner and operator seeking to exit the industry. The portfolio, which was built in stages between 1990 and 2013, consists of three communities with a total of 317 licensed skilled nursing beds and 209 seniors housing units. At the onset of ESI’s marketing process, the average occupancy rate was stagnant at 65 percent, leading to financial challenges. Despite these …
ST. CHARLES, Mo. — Arrow Senior Living, a St. Charles-based owner-operator, has taken over management of eight seniors housing communities across Illinois, Iowa, Missouri and Arkansas. Closed in June, CedarStone Senior Living and PrairieStone Senior Living, both located in Cedar Falls, Iowa, were developed by Nelson Construction and Development. CedarStone consists of 120 apartments, including 88 assisted living apartments and 32 memory care apartments. PraireStone consists of 111 apartments, with 79 assisted living apartments and 32 apartments dedicated to memory care. Arrow also began operating six independent living communities, in …
LOUISVILLE, Ky. — Trilogy Health Services has announced an investment plan to develop and expand senior living and assisted living services in Indiana, Kentucky, Michigan and Ohio. The investment aims to help address the growing demand for senior living accommodations and services. The plan includes expanding facilities across several states and developing a new campus. Trilogy will kick off its patio home expansions this summer in Sylvania, Ohio, with 26 new independent living patio homes for seniors at The Lakes of Sylvania. The expansion is projected to start in July …
LYNCHBURG, Va. — LifeSpire of Virginia has announced plans for an $80 million expansion of The Summit, a continuing care retirement community in Lynchburg. Although the number of units was not disclosed, the company says the project will “create dozens of new residences” via 18 cottage homes and multiple villa options, as well as a new memory care neighborhood. The nonprofit LifeSpire of Virginia, which acquired The Summit in late 2021, plans to complete the expansion over the next 24 months. As Virginia’s senior population swells to an expected 2.2 …
ATLANTA — Isakson Living has named Hayden Herrick as executive director of assisted living and memory care at The Terraces at Peachtree Hills Place, which provides assisted living, memory care, skilled nursing and short-term rehabilitation in a luxury residential community for those 55 and older in the Buckhead neighborhood of Atlanta. Herrick will be responsible for daily operations, including management, staffing and regulatory compliance. He will report to Greg Heath, who served as interim executive director of assisted living and memory care for The Terraces at Peachtree Hills Place concurrently …