SOUTH BEND, Ind. — Strawberry Fields REIT, a South Bend-based owner of skilled nursing facilities, assisted living facilities and long-term acute care hospitals in the Midwest and South, has begun trading on the OTC Markets Group Inc. under the symbol STRW. OTCQX is an operator of regulated markets for trading 12,000 U.S. and international securities. “My partners and I invested significant time and energy to build our company, starting with the acquisition of 33 properties in Indiana and Illinois from 2005 through 2014,” says Moishe Gubin, chairman and CEO of …
NEW YORK CITY — BHI, a New York City-based commercial bank, has closed on a $42.5 million term loan for TL Management, a company that owns skilled nursing facilities across the country. “This transaction is part of BHI’s continuous growth in the category and our strategy for further expansion in the healthcare sector going forward,” says Tami Antebi, senior vice president and head of healthcare for BHI. Further details on the transaction were not disclosed.
LAKE OSWEGO, Ore. — Anthem Memory Care, a Lake Oswego-based operator, has named Jamie Floyd as regional director of sales and marketing. She is responsible for the overall sales and marketing of 12 communities in Illinois, Colorado, Minnesota, California and Kansas. Floyd previously was vice president, sales, new developments, acquisitions and sales training for Atria Senior Living. She also served as national sales specialist and regional sales manager with Atria and director of marketing and education for Odyssey Healthcare. Throughout her 37-year career in healthcare, Floyd has specialized in sales …
BURLINGTON, Iowa — Cambridge Realty Capital Cos. has provided a $10.4 million HUD Lean loan to refinance Oakview Nursing and Rehabilitation and Ridgeview Assisted Living, a dual-facility campus also known as The Views of Burlington. Located in Burlington, just across the Mississippi River from Illinois and just north of the Missouri border. Oakview Nursing and Rehabilitation is a 60-bed skilled nursing facility and Ridgeview Assisted Living is a 42-bed facility. Andrew Erkes, Cambridge president, says the fully amortized, 35-year loan was provided for the owner, an Iowa limited liability company. …
ALEXANDRIA, Va. — Oxford Finance LLC, an Alexandria-based finance firm, closed over $347 million in financing transactions through its healthcare real estate group during the second and third quarters of 2022. Oxford provided a $26.2 million term loan and $3 million revolving line of credit to finance the acquisition of three skilled nursing facilities containing 391 beds in Texas for a Texas-based operator. Oxford supplied a $9 million revolving line of credit to finance working capital needs for seven skilled nursing facilities for an expanding California-based operator. Oxford provided a …
ST. CHARLES, Mo. — Arrow Senior Living has appointed Candace Johnson as vice president of human resources in its St. Charles-based home office; and announced promotions for Sophie Rich, Christie Masline and Matthew Enderle, serving communities in Arrow’s Illinois and Ohio markets. Candace Johnson recently joined Arrow’s home office team as vice president of human resources and associate general counsel. A licensed, practicing attorney, her expertise is in employment law and litigation. Sophie Rich began her career with Arrow as a regional operations specialist. Rich has been promoted to executive …
How about this: It’s never been an easy ride for the seniors housing industry, even in the good times, but the last few years have been particularly turbulent. “Our industry has been through a real roller coaster the past couple years, starting off with the pandemic,” said Rick Swartz of Cushman & Wakefield. “That was a real challenge to occupancies and operations. We then had a successful roll out of vaccines that led the recovery and created a lot more bullishness in the industry. However, our robust economy has led …
LOS ANGELES — South Bay Partners has completed construction of The Variel of Woodland Hills, a luxury independent living, assisted living and memory care community in the Woodland Hills neighborhood of Los Angeles. The property features 215 independent living units, 94 assisted living units and 27 memory care units. Momentum Senior Living is the operator. VTBS Architects designed the buildings, while Rodrigo Vargas Design handled the interiors. W.E. O’Neil Construction was the general contractor. The site is located near Warner Tennis Center, grocery stores and Kaiser Permanente Woodland Hills Medical …
BOULDER, Colo. — Three technology platforms focused on seniors housing — Enquire, Glennis, and Sherpa — have announced plans to merge following an investment from Boulder-based private equity firm Rubicon Technology Partners, which will be the majority shareholder in the combined company. The combined company will serve over 50 of the largest 150 seniors housing operators, and more than 800 customers in total, representing 5,700 communities across the senior living, post-acute and home care sectors. Rubicon is focused exclusively on investing in and growing enterprise software companies. Rubicon’s investment also …
DILLSBURG, Pa. — Presbyterian Senior Living (PSL), a Dillsburg-based operator, has promoted Kate Andreacci to vice president of life plan services. In her new role, Andreacci will be responsible for the identification of future opportunities for expansion of programming, the development and implementation of strategy, and the assurance of quality service for the company’s portfolio of continuing care retirement communities (CCRCs). Andreacci has been with PSL for over five years and has served as senior executive director, regional director of operations and, most recently, regional vice president of operations. Dan …