News

Acts Promotes David Vega to Vice President Position

by Jeff Shaw January 25, 2023

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 …

January 25, 2023

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

by Jeff Shaw January 24, 2023

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 …

January 24, 2023

Company News News People

Ventas Promotes Justin Hutchens to Chief Investment Officer

by Jeff Shaw January 24, 2023

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 …

January 24, 2023

Acquisitions Assisted Living News Utah

1031 Crowdfunding Acquires 178-Unit Portfolio in Utah

by Jeff Shaw January 24, 2023

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, …

January 24, 2023

News People

FK Architecture Hires John Anderson, Linda Rodriguez, Hamilton Carias

by Jeff Shaw January 24, 2023

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 …

January 24, 2023

Acquisitions Affordable Housing Illinois News

Standard Communities Acquires 466-Unit Affordable Portfolio in Metro Chicago

by Jeff Shaw January 23, 2023

CHICAGO and BOLINGBROOK, Ill. — Standard Communities has acquired the 145-unit Commonwealth Apartments in Chicago and 321-unit Greenleaf Apartments in Bolingbrook, both of which are affordable seniors housing communities. Standard plans to make $46 million in renovations. Standard led a public-private partnership in the acquisitions. According to Crain’s Chicago Business, Standard paid $110 million for the communities, but the total cost of the deal adds up to $192 million including renovations, fees, reserves and other expenses. Planned renovations include updated kitchens and bathrooms, new energy-efficient appliances, flooring and communal spaces …

January 23, 2023

California Finance News North Carolina Texas

Cushman & Wakefield Arranges $51M Refinancing of Three-Property Kisco Portfolio

by Jeff Shaw January 23, 2023

ESCONDIDO, Calif; SAN ANTONIO; and WINSTON-SALEM, N.C. — Cushman & Wakefield has arranged $51 million in financing for Kisco Senior Living. The loan refinances debt on three Kisco properties: Cypress Court in Escondido, Villa de San Antonio in San Antonio and Heritage Woods in Winston-Salem. The properties provide independent living and assisted living services. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker and Sam Dylag represented the borrower in the transaction. A national bank provided the capital.

January 23, 2023

News People

Commonwealth Senior Living Hires Mark Miyasaki as CFO

by Jeff Shaw January 23, 2023

CHARLOTTESVILLE, Va. — Commonwealth Senior Living, a Charlottesville-based owner-operator, has hired Mark Miyasaki as chief financial officer, Stephanie Pfingsten as senior vice president of resident care and Archie McAlexander as director of clinical services. Miyasaki will oversee financial operations for all Commonwealth communities and the management company. He brings over 20 years of experience in managing the financials and operations of senior living communities and real estate. He previously served as chief financial officer for Sodalis Senior Living. Pfingsten has over 21 years of experience in nursing system development and …

January 23, 2023

Features News

CEO Panel: Tough Economic Times Call for Return to Basics

by Jeff Shaw January 20, 2023

PHILADELPHIA — As the dust settles from the COVID-19 pandemic, and complications such as inflation and higher interest rates continue to hurt the economy, now is the time for seniors housing owners and operators to focus on their fundamentals. “We have to get back to business. That’s really our focus in 2023,” said Wendy Nowokunski, president of owner-operator Northbridge Cos. “Not that we ever lost sight of it, nor will we lose sight of the fact that our associates are our most important investment, but we really need to make …

January 20, 2023

Acquisitions Assisted Living Nebraska News

Blueprint Brokers Sale of 110-Unit Community in Omaha

by Jeff Shaw January 20, 2023

OMAHA, Neb. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a Class A, 110-unit assisted living and memory care community in Omaha. A Midwest-based developer that works in multiple asset classes sold the asset to Cedarhurst Senior Living for an undisclosed price. Blueprint Capital Markets assisted in arranging acquisition financing through a regional bank. The community was over 95 percent occupied at the time of sale.

January 20, 2023

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