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Cushman & Wakefield Hires Matthew Yance as Director in Senior Living Practice

by Jeff Shaw

NEW YORK CITY — Cushman & Wakefield has hired Matthew Yance as a director for the firm’s valuation and advisory group as part of the senior living and care specialty practice. Based out of the firm’s New York office, Yance will focus on institutional valuations and market studies across the United States. Yance has nine years of experience focusing on the senior living sector. Previously, he was at Newmark, where he co-led the senior housing and healthcare team. In that position he oversaw a team of appraisers focused on the …

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AcquisitionsNewsSkilled NursingSouth Carolina

Ziegler Brokers Sale of 122-Bed The Oaks of Orangeburg in South Carolina

by Jeff Shaw

ORANGEBURG, S.C. — Ziegler has acted as sell-side advisor in the disposition of The Oaks of Orangeburg, a 122-bed skilled nursing facility in Orangeburg, approximately 35 miles southeast of Columbia. The facility, located in a rural area of the state, is adjacent to a larger independent living campus that was not included in this sale. A privately held healthcare real estate investment and management company out of Skokie, Illinois purchased the property.  The new operator is PACS Group Inc.

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Affordable HousingDevelopmentFinanceIllinoisNews

HUD Provides $28M for Redevelopment of Ravine Terrace Affordable Community in Waukegan, Illinois

by Jeff Shaw

WAUKEGAN, Ill. — The U.S. Department of Housing and Urban Development has completed a $28 million Rental Assistance Demonstration (RAD) transaction with the Waukegan Housing Authority (WHA) to expand affordable housing options for low-income seniors in Waukegan, a suburb north of Chicago. Constructed in 1964, Ravine Terrace is a 98-unit, eight-story building that is in extensive need of repair and improvements due to its advanced age. The transaction funds the rehabilitation and reconfiguration of 56 studio apartments into 28 larger, one-bedroom homes; and the renovation of 42 one-bedroom homes.  Additionally, …

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AcquisitionsNewsPennsylvania

Walker & Dunlop Negotiates Sale of 146-Unit Mercer Hill at Doylestown in Pennsylvania

by Jeff Shaw

DOYLESTOWN, Pa. — Walker & Dunlop Investment Sales has arranged the sale of Mercer Hill at Doylestown, a seniors housing community in Doylestown, approximately 30 miles north of Philadelphia. The property features 146 units of independent living, assisted living and memory care. It was constructed in 2022. The buyer was a public healthcare REIT. The seller and price were not disclosed.    Joshua Jandris, Brett Gardner and Tom Falkenberg led the Walker & Dunlop team.

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NewsPeople

Lifespace Communities Hires Heather Julian as Chief Marketing Officer

by Jeff Shaw

DALLAS — Lifespace Communities, a Dallas-based owner-operator, has hired Heather Julian as chief marketing officer.  Throughout her career, Julian has led marketing strategies for startups and longstanding industry leaders in the hospitality, construction, finance, tech and retail sectors. Most recently, she served as chief marketing officer at BorrowWorks, a specialized financial technology solutions provider.  Julian graduated magna cum laude with a bachelor’s degree in economics and finance from Arkansas Tech University.

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Active AdultDevelopmentMissouriNews

KAI Completes $10M Urban League Senior Living Center in Dellwood, Missouri

by Jeff Shaw

DELLWOOD, Mo. — KAI has completed construction of Urban League Senior Living Center in Dellwood, a northern suburb of St. Louis. The $10 million project stands on the former site of an AutoZone that was destroyed during the 2014 protests following the shooting of Michael Brown. The development was funded through a combination of federal, state and local grants, along with in-kind donations. The facility includes 44 resident units (40 one-bed units and four two-bed units), plus a community room on the main level. The community is already fully leased. …

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AcquisitionsFinanceNews

CareTrust REIT Funds $378M in Acquisition Financing for 37-Property Seniors Housing Portfolio

by Jeff Shaw

SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NYSE: CTRE), a publicly traded healthcare REIT based in San Clemente, funded approximately $378 million in new investments last week. The transactions include the funding of a $260 million senior mortgage loan and a $43 million preferred equity investment in connection with the borrower’s acquisition of a 37-facility skilled nursing and seniors housing portfolio located in the Pacific Northwest. The $378 million in investments was funded using cash on hand. The portfolio consists of 2,713 operating beds/units with 21 skilled nursing facilities and …

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AcquisitionsNewsSkilled NursingTexas

SLIB Negotiates Sale of 120-Bed Skilled Nursing Facility in La Marque, Texas

by Jeff Shaw

LA MARQUE, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 120-bed skilled nursing facility in La Marque, a Gulf Coast city southeast of Houston. The community totals approximately 45,628 square feet on 4.3 acres of land. The seller is a local, Texas-based family partnership, which is selling its only seniors housing community. The buyer owns and operates several skilled nursing facilities in Texas. The price was not disclosed. Matthew Alley of SLIB handled the transaction.

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AcquisitionsGeorgiaMemory CareNews

Marcus & Associates, Buckley Shuler Broker Sale of 38-Unit St. Ives Memory Care in Johns Creek, Georgia

by Jeff Shaw

JOHNS CREEK, Ga. — Marcus & Associates and Buckley Shuler Properties have arranged the sale of St. Ives Memory Care, a 38-unit standalone memory care community in the Atlanta suburb of Johns Creek. Regional owner-operator Solinity was the buyer. The seller and price were not disclosed. The property experienced operational setbacks during the COVID-19 pandemic, as well as complications from a winter freeze that caused flooding and insurance issues.Marcus Van Ameringen of Marcus & Associates handled the transaction.

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AcquisitionsAssisted LivingFinanceNewsPennsylvania

Ziegler Arranges $6.4M Acquisition Financing for Silver Springs at East Norriton in Pennsylvania

by Jeff Shaw

EAST NORRITON, Pa. — Ziegler has arranged $6.4 million in financing for the acquisition of a 114-unit assisted living and memory care community in East Norriton, a suburb northwest of Philadelphia. The buyer is Comprehensive Care Capital, which plans to rebrand the property from Brandywine Living at Senior Suites to Silver Springs at East Norriton. Christopher Utz of Ziegler Investment Banking arranged and negotiated the transaction. Cura Health will oversee daily operations.

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