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AcquisitionsAssisted LivingKentuckyNews

SLIB Negotiates Sale of 114-Unit Portfolio in Kentucky

by Jeff Shaw

ELIZABETHTOWN and RICHMOND, Ky. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Acadian Cove in Richmond and Willow Creek Senior Living in Elizabethtown. Acadian Cove offers 49 units of assisted living and was built in 2009. Willow Creek feature 65 units of assisted living and memory care and was built in 1998. The seller was a REIT divesting to focus on liquidating capital for other investments. The buyer was a Northeast-based operator looking to add to its growing Midwest portfolio. The price was not disclosed. Daniel Geraghty …

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CaliforniaNewsOperations

JCH Brokers Lease Negotiation of Skilled Nursing Facility in Bakersfield, California

by Jeff Shaw

BAKERSFIELD, Calif. — JCH Senior Housing Investment Brokerage has brokered the lease negotiation of a skilled nursing facility in Bakersfield, approximately 130 miles north of Los Angeles. The previous regional operator decided it was time to sell its leasehold position and become the landlord. A growing local operator took over management at the property. “This particular asset is 100 years old, and it took a few attempts to identify the perfect buyer,” says Jennifer Contreras, senior vice president of JCH.

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NewsPeople

NIC Chief Economist Beth Mace Moves to Consultant Role

by Jeff Shaw

ANNAPOLIS, Md. — The National Investment Center for Seniors Housing & Care (NIC), an Annapolis-based nonprofit providing data to the seniors housing industry, has announced its chief economist Beth Mace will transition to a consultant and special advisor role. Mace will focus exclusively on monitoring and reporting changes in the economy and the capital markets impacting seniors housing investments and operations. Mace will analyze and report on conditions in the capital markets, providing transparency and insights to help seniors housing owners, operators and investors make crucial decisions during a particularly …

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FinanceNewsPeople

Berkadia Adds David Fasano, Ross Sanders to Seniors Housing Team

by Jeff Shaw

DALLAS and ST. LOUIS — Berkadia has hired David Fasano and Ross Sanders as managing directors to its seniors housing and healthcare platform. Fasano will be based in Dallas and Sanders will be based out of St. Louis. They both will report to Mike Miner. Both Fasano and Sanders join Berkadia from Newmark, where they served as senior managing directors and were responsible for seniors housing-related investment advisory throughout the United States.

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AcquisitionsAssisted LivingNewsTennessee

SLIB Brokers $10M Sale of The Waterford in Smyrna in Tennessee

by Jeff Shaw

SMYRNA, Tenn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Waterford in Smyrna. Located 25 miles southeast of Nashville, the facility features 68 units of assisted living and 24 units of memory care. Built in 2009, there is room for expansion on the 5.3-acre site. The property was 57 percent occupied at the start of the marketing. The seller is a local ownership group that developed and operated the property. The buyer is a Nashville-based owner-operator. The price was $10 million, or $108,695 per unit. Patrick …

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AcquisitionsCompany NewsNews

CBRE Acquires Appraisal Company Valuation & Information Group

by Jeff Shaw

CULVER CITY, Calif. — CBRE has acquired Valuation & Information Group (VIG), a Culver City-based provider of appraisal and market feasibility services for seniors housing and healthcare real estate throughout the United States. VIG provides valuation services for a wide variety of property types in the seniors housing and healthcare sectors, including independent living, assisted living, skilled nursing, medical office buildings, surgery centers, specialty hospitals and acute-care hospitals. In addition, the firm provides valuation services for HUD and conventional multifamily financing. VIG’s 23 employees will integrate with CBRE’s seniors housing …

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FinanceNewsSkilled NursingVermont

CFG Provides $13.4M HUD Refinancing for Skilled Nursing Facility in Vermont

by Jeff Shaw

VERMONT — Capital Funding Group (CFG) has provided $13.4 million in financing for a 144-bed skilled nursing facility in Vermont. CFG worked to replace the bridge-to-HUD loan, which it also provided, into HUD financing. The name, location and borrower were not disclosed. Tim Eberhardt and Ava Julio originated the transaction for CFG.

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Assisted LivingCaliforniaNewsOperations

JCH Arranges Operational Transition of Assisted Living Facility in Alhambra, California

by Jeff Shaw

ALHAMBRA, Calif. — JCH Senior Housing Investment Brokerage has arranged the lease negotiation of a prominent assisted living facility in Alhambra, just east of Los Angeles. The facility, previously operated by a national operator, will now be under the management of a regional operator that specializes in low-income residents.

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NewsPeople

Ascension Living Names Christopher Caserta as CEO

by Jeff Shaw

ST. LOUIS — Ascension Living has named Christopher Caserta as its new chief executive officer. He will provide strategic and operational leadership over Ascension’s diversified seniors housing services, including independent living, assisted living, memory care, skilled nursing and short-term rehabilitation for the St. Louis-based company. Caserta is an industry veteran with over 20 years of experience in regional and national health systems and post-acute care organizations. Previously, he served as the vice president of strategy and marketing in the continuing care division at Trinity Health. He led the division’s national …

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Affordable HousingDevelopmentNew JerseyNews

Pennrose Opens $20M Village at Harmony Garden in Glassboro, New Jersey

by Jeff Shaw

GLASSBORO, N.J. — Pennrose, The Housing Authority of the Borough of Glassboro (GHA), Gloucester County and other project partners have opened Village at Harmony Garden, an affordable seniors housing community in Glassboro, 20 miles south of Philadelphia. The $20M redevelopment transformed the 10-acre site that was the Ellis Manor public housing complex into 64 affordable apartments with supportive services for residents age 55 and older, as well as individuals with disabilities, and one resident superintendent unit. Village at Harmony Garden includes a mix of one- and two-bedroom apartments in one-story, …

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