NEW YORK CITY — Inspiren, an AI-focused senior living technology company, has raised $100 million in Series B funding. Software investor Insight Partners led the financing, with participation from Avenir, Primary Venture Partners, Scale Venture Partners, Story Ventures and Studio VC. This new Series B funding brings Inspiren’s total funding to $155 million. In March, the company launched an AI-powered platform combining solutions for resident safety, care planning, staffing and emergency response. Inspiren also recently implemented improvements to its Inspiren HQ web-based platform, which allows seniors housing communities to monitor health …
By Hayden Spiess ATLANTA — The seniors housing sector has not always been the apple of commercial real estate (CRE) capital’s eye. Industry professionals say that this is no longer the case and that a confluence of factors is driving strong investment activity in the sector. “Nationally, this asset class is the darling with respect to CRE,” asserts Michael Bowden, senior vice president of investments with LTC Properties. “It wasn’t, as we know, for a long time. So that’s a new shift, which is super cool for all of us.” Courtney …
PHOENIX — Pennrose is currently underway on the second phase of Garfield Terrace, a $57 million affordable seniors housing development in downtown Phoenix. Pennrose recently opened Phase I of the development and commenced construction on Phase II. Project partners include Butler Housing Co., CBC Financial Corp., the City of Phoenix and the Arizona Department of Housing (ADOH). Garfield Terrace I totals 60 studio and one-bedroom apartments for residents age 55 and older. Twelve units are reserved for seniors earning at or below 30 percent of the area median income (AMI), with …
WINDSOR, Calif. — Gallaher Cos. has announced the launch of Gallaher Signature Living (GSL), a new management company that will oversee operations for Gallaher’s portfolio of luxury senior living communities across California. According to the organization, GSL will allow for continuity, expanded resources and a greater focus on quality, service and enrichment. Page Ensor will lead GSL as chief executive officer. Ensor brings more than 25 years of experience in senior living leadership to the role. During her tenure with Brookdale Senior Living, Ensor led the oversight of 70 communities across …
LOS ANGELES — A partnership between John Stanley Inc. and Concerned Citizens Community Involvement known as Southside LA Housing Partners has opened a new affordable seniors housing development in South Los Angeles. John Stanley Inc. and Concerned Citizens Community Involvement co-developed the community, Serenity Apartments, which totals 50 units reserved for residents age 62 and older with incomes at or below 30 to 60 percent of the area median income. Nine units are reserved for individuals who require mobility accommodations, with five designed for residents with hearing and vision disabilities and …
ST. LOUIS — Blueprint has arranged a lease with a purchase option for a continuing care retirement community (CCRC) totaling 225 units in St. Louis. According to Blueprint, the property was marketed for sale by the owner and operator and was experiencing operational challenges at the time of marketing. Blueprint invited both outright purchase and lease with purchase option proposals for the community. A regional owner and operator with a footprint in Missouri and Illinois will now operate the property.
FAIRFIELD, Conn. — An undisclosed borrower has received a $35.3 million permanent loan for Sturges Ridge of Fairfield, an assisted living and memory care community located in Fairfield. Provided through Freddie Mac, the 10-year, fixed-rate loan features full-term interest only payments. Opened in 2018, Sturges Ridge of Fairfield totals 99 beds across 88 units. Benchmark Senior Living operates the community. BWE secured the financing on behalf of the borrower.
NEW YORK CITY — Multifamily and seniors housing bridge lending platform MonticelloAM has appointed Liam Sorensen to the role of senior relationship manager. In his new role, Sorensen will be responsible for fostering and expanding client relationships, sourcing new opportunities and supporting the firm’s lending and investment activity across the seniors housing market. He will report to Karina Davydov, senior managing director, Healthcare. Sorensen’s experience includes almost a decade in healthcare real estate finance and a track record of debt structuring, underwriting, portfolio management and client advisory services. Prior to joining …
PINE ISLAND, Minn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two seniors housing communities located in Pine Island. A regional operator acquired both properties, which include Pine Haven and Evergreen Place Assisted Living. Pine Haven, which was originally constructed in 1964 and renovated in 2016, is a 70-bed skilled nursing facility. Featuring 24 assisted living units, Evergreen Place was built in 1995 and is connected to Pine Haven. The USDA sold Pine Haven, and the seller of Evergreen Place was the City of Pine Island. Jake Anderson, …
DALLAS — Nicole Ornelas has joined Lifespace Communities, a nonprofit senior living owner and operator, as vice president of experience. In her new role, Ornelas will report to Nikki Kresse, chief experience and people officer. She will guide the development and execution of LIfespace’s enterprise experience strategy, which includes elevating resident experience, introducing new service models and applying data-driven tactics to create improvement. Ornelas will also collaborate with the vice president of human resources and other leaders to oversee team member experiences within the organization. Ornelas brings more than 20 years …