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Active AdultDevelopmentNewsOhio

United Church Homes Plans 126-Unit Longfellow Commons LGBTQ-Friendly Community in Dayton, Ohio

by Jeff Shaw

DAYTON, Ohio — United Church Homes has unveiled plans for Longfellow Commons, a 126-unit active adult community targeting LGBTQ seniors in Dayton. The project will include the redevelopment of the former Longfellow School on Salem Avenue and ultimately comprise a new apartment building and shared community spaces on its two-acre campus CareSource, a nonprofit health plan and the Dayton area’s largest employer, recently donated $1 million to United Church Homes to support the development. The community will be the first senior living community of its kind in Dayton and only …

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FinanceNewsPeople

Pennant Group Initiates Search for New CFO

by Jeff Shaw

EAGLE, Idaho — The Pennant Group Inc. (NASDAQ: PNTG), the Eagle-based parent company of the Pennant group of affiliated home health, hospice and senior living companies, has initiated a search for a new chief financial officer. Pennant’s current CFO, Jennifer Freeman, will serve as interim CFO during the search process, after which Freeman will continue to play an important leadership role on the Pennant finance team. The reason for her role changing was not disclosed. The organization also announced that Derek Bunker, who serves as Pennant’s chief investment officer, executive …

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AcquisitionsMarylandNewsSkilled Nursing

Blueprint Negotiates Sale of 285-Bed Skilled Nursing Portfolio in Maryland

by Jeff Shaw

CAMBRIDGE and LEXINGTON PARK, Md. — Blueprint Healthcare Real Estate Advisors has arranged the sale of two skilled nursing facilities located in Cambridge and Lexington Park, which are located on opposite sides of Chesapeake Bay southeast of Washington, D.C. A public REIT and its operating partner sold the 285-bed portfolio to an East Coast-based owner-operator for an undisclosed price. The sale is part of a larger portfolio with staggered closings.

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AcquisitionsAssisted LivingFinanceNewsOhioPennsylvania

VIUM Arranges $89.4M Acquisition Financing for Nine-Property Portfolio in Ohio, Pennsylvania

by Jeff Shaw

OHIO and PENNSYLVANIA — VIUM Capital has arranged $26.3 million in debt fund financing and $63.1 million in balance sheet financing for the acquisition of nine assisted living communities in Ohio and Pennsylvania. The borrower is a Minnesota-based owner-operator, which has planned capital improvements at the 580-unit portfolio. Further details were not disclosed.

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NewsPeople

12 Oaks Promotes Eilleen Aldridge from Consultant to Vice President Position

by Jeff Shaw

DALLAS — 12 Oaks Senior Living, a senior living management company based in Dallas, has promoted Eilleen Aldridge to vice president of 12 Oaks Solutions Consulting. In this role, she will be responsible for managing a team of consultants and setting the strategic direction for the division. Aldridge has more than 20 years of management, operations and team-building experience in her various roles during her career at 12 Oaks. As a consultant for 12 Oaks Solutions, she used her experience and expertise to support property management operations in the areas …

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AcquisitionsActive AdultDevelopmentNew JerseyNews

OneKey Acquires Development Site for Active Adult Community in Vernon, New Jersey

by Jeff Shaw

VERNON, N.J. — OneKey LLC has acquired several parcels on Theta Drive in Vernon, approximately 50 miles northwest of New York City, with plans to build an active adult community on the site. NAI James E. Hanson’s Dominic Fittizzi represented the buyer in the transaction. The seller, Theta 456 Associates, originally planned to implement another use on the site, but let its approvals lapse during the COVID-19 pandemic. OneKey plans to construct and retain the building while managing the property as part of its portfolio. Construction is slated to begin …

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Affordable HousingFinanceNewsRhode Island

Nixon Peabody Advises on $104M Refinancing of Affordable Housing Portfolio in Rhode Island

by Jeff Shaw

RHODE ISLAND — Nixon Peabody LLP has advised Providence Realty Investment (PRI) in seven separate transactions that refinance debt on nine affordable housing properties across Rhode Island. The portfolio totals 708 units of mostly age-restricted affordable housing. All seven of the transactions, totaling more than $104 million in financing, were completed in conjunction with Rhode Island Housing and Mortgage Finance Corp. (RIHousing). Proceeds from the refinancings will be used for upgrades and repairs at each of the properties. The deals involve new HUD risk-sharing loans from RIHousing under the Treasury-HUD …

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AcquisitionsAssisted LivingNewsPennsylvania

ESI Brokers Sale of 80-Unit Assisted Living Facility in Allentown, Pennsylvania

by Jeff Shaw

ALLENTOWN, Pa. — Evans Senior Investments (ESI) has arranged the sale of an 80-unit assisted living community in Allentown. An independent owner-operator sold the property to Hamister in an all-cash transaction. The price was not disclosed. The property was built in the 1980s, is 100 percent private pay and received in-place rates just shy of $5,000 a month. At the time of marketing, the community was 94 percent occupied and making over $800,000 in net operating income. Along with the community’s strong surrounding demographics, the facility implemented a rate increase …

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CCRCNewsPeopleTexas

Buckner Appoints Aaron Ortego as Executive Director of Calder Woods in Beaumont, Texas

by Jeff Shaw

BEAUMONT, Texas — Buckner Retirement Services has named Aaron Ortego as executive director of Calder Woods, a continuing care retirement community in Beaumont, located east of Houston near the Louisiana border. Ortego steps in for the previous executive director, David Ummel, who now serves as executive director of one of Calder Woods’ sister communities, Buckner Westminster Place in Longview. Buckner Retirement Services operated both faith-based, nonprofit senior living communities. Prior to Calder Woods, Ortego served as CEO for Autism Services of Southwest Louisiana and Direct Care Inc. He has also …

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