NEW YORK CITY — Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, financed over $191 million in seniors housing financing during fourth-quarter 2022. The Manhattan-based financial services firm closed a $39 million bridge loan to facilitate the acquisition of a two-property skilled nursing portfolio in Fort Lauderdale, Florida: Manor Oaks and Manor Pines. The facilities are three miles apart and comprise 322 beds across approximately 111,800 square feet. Adam Offman originated the transaction. Offman also originated a $24.3 million bridge refinancing for a portfolio of two skilled nursing facilities …
PORTLAND, Ore. — Portland-based design firm LRS Architects has promoted Mira Boumatar and Kelsey Loverro to associate. Boumatar works in various studios, including civic, commercial, housing and adaptive reuse. Loverro works in the firm’s multifamily housing and workplace studios and has also lent her design expertise to the hospitality and auto sectors. Boumatar joined LRS in 2015. She serves on the firm’s Justice, Equity, Diversity and Inclusion (JEDI) Committee, as well as its Practice Committee, Social Committee and the CCA Taskforce. She earned her bachelor’s degree in architecture from the …
PHILADELPHIA — New construction of seniors housing communities has been noticeably slow in recent years, at first due to the COVID-19 pandemic stopping projects in their tracks, and then by high interest rates and land costs. Fewer than 11,000 units were added within the NIC MAP 31 Primary Markets last year, the weakest inventory growth since 2014, according to the National Investment Center for Seniors Housing & Care (NIC). Construction starts were relatively weak at 3,013 units in the fourth quarter, continuing the slower pace seen in the third quarter. …
FLORISSANT and DeSMET, Mo. — Blueprint Healthcare Real Estate Advisors has arranged the sale of two seniors housing communities in northwest St. Louis. Pacifica Senior Living divested of the communities as non-core assets. Located in Florissant and DeSmet, the properties total 165 units of independent living and assisted living. An investment fund out of St. Louis, a new entrant to the seniors housing industry, bought the assets and plans to convert one property into multifamily housing and maintain the other as a seniors housing community. The price was not disclosed.
CHARLOTTESVILLE, Va. — Commonwealth Senior Living, a Charlottesville-based owner, has hired Marybeth Showalter as vice president of associate learning, development and retention; Amber Turner as vice president of human resources; and Amanda Greene as director of candidate experience. Showalter previously served as a regional human resources professional with the company. In this new role, she will oversee Commonwealth’s training and development programs and enhance the company’s ability to deliver on its employee value proposition. Turner was most recently vice president of talent optimization at Navion Senior Living. She also previously …
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 …
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 …
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 …
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 …
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 …