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Company NewsInvestmentNewsOperationsVirginia

Welltower, Retirement Unlimited Partner to Launch Luxury Elancé Brand

by Jeff Shaw

TOLEDO, Ohio and ROANOKE, Va. — Welltower Inc (NYSE: WELL) and Retirement Unlimited Inc. (RUI) have formed a partnership under which RUI will operate luxury seniors housing communities under a newly launched Elancé brand. Welltower, a Toledo-based REIT, installed Roanoke-based RUI as the operator of Fountains at Washington House in Alexandria, Virginia in November. Following the change, the property was renamed Elancé at Alexandria and became the first community under the new banner. The two companies have planned a “significant expansion in the programmatic relationship between Welltower and RUI” in …

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Company NewsInvestmentNews

Strawberry Fields REIT to Begin Trading on the New York Stock Exchange American

by Jeff Shaw

SOUTH BEND, Ind. — Strawberry Fields REIT, a South Bend-based owner of skilled nursing facilities, assisted living facilities and long-term acute care hospitals throughout the Midwest and South, will officially begin trading on the New York Stock Exchange American on Wednesday, Feb. 22. The stock exchange, formerly known as the American Stock Exchange, is known for representing small-cap companies that are not yet big enough to list on the New York Stock Exchange, according the U.S. News & World Report. The company announced in April of last year that it …

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NewsOperationsPeople

Integral Names Two to Senior Executive Director Positions

by Jeff Shaw

CARLSBAD, Calif. — Integral Senior Living has named Jennifer Lester and Kelly Ainsworth as senior executive directors of their respective communities. Lester is the executive director of Sage Spring Senior Living, which opened in December 2020. Ainsworth currently serves as the executive director for Parkview on Hollybrook. Carlsbad-based Integral more than 100 senior living communities offering independent living, assisted living and memory care in 25 states.

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DevelopmentFeaturesNews

Seniors Housing Developers Stay Active, Creative

by Jeff Shaw

LOS ANGELES — The advice offered by the Development Outlook panel at InterFace Conference Group’s Seniors Housing West, held Feb. 2 at the Omni Los Angeles, mirrors the advice many would give to their senior residents. Namely, “stay active and stay creative.” But these verbs take on a slightly different meaning when you’re talking about the smartest plays for seniors housing developers in a time when everything is changing. “The smarter operators and developers have been developing a pipeline,” said panelist Paul Mullin, principal at Flatiron Development Group. “The key is momentum. …

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AcquisitionsAssisted LivingCaliforniaFinanceNews

BWE Arranges Financing for Harrison Street Acquisition of Three-Property Oakmont Portfolio in California

by Jeff Shaw

AGOURA HILLS, LODI and SAN JOSE, Calif. — Bellwether Enterprise Real Estate Capital LLC (BWE), has arranged the financing for Harrison Street’s acquisition of three Class A seniors housing communities in California. Oakmont Management Group operates all three communities: Oakmont of Agoura Hills in Agoura Hills, Oakmont of Lodi in Lodi and Oakmont of Silver Creek in San Jose. The luxury properties offer assisted living and memory care services. Ryan Stoll, BWE’s national director of seniors housing and care, and Taylor Mokris, senior vice president for seniors housing and care, …

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AcquisitionsNewsTexas

Blueprint Brokers $21M Sale of The Inn at Los Patios in San Antonio

by Jeff Shaw

SAN ANTONIO — Blueprint Healthcare Real Estate Advisors has negotiated the sale of The Inn at Los Patios, a 166-unit independent living and assisted living community in San Antonio. Blueprint represented a court-appointed receiver to maximize proceeds for the trustee group and stakeholders involved. Though the community was 80 percent occupied and generating approximately $1 million of cashflow, Blueprint sold the upside of increasing occupancy by elevating the competitive profile and implementing minor expense efficiencies through regional operations. A New York-based private equity group acquired the property for $21 million …

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AcquisitionsIllinoisNewsSkilled Nursing

SLIB Negotiates Sale of 76-Bed Skilled Nursing Facility in Central Illinois

by Jeff Shaw

ILLINOIS — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 76-bed skilled nursing facility located approximately 80 miles west of Springfield, Illinois. The seller was a regional owner-operator looking to divest this asset from its portfolio to focus on core assets. The buyer was a regional owner and operator based on the East Coast looking to expand its presence in Illinois. The price and further details on the property were not disclosed.

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Commonwealth Senior Living Hires Two, Promotes Five in Sales & Marketing Team

by Jeff Shaw

CHARLOTTESVILLE, Va. — Commonwealth Senior Living, a Charlottesville-based operator, has grown its sales and marketing team with the addition of two new hires and five promotions. The company promoted April Theus to senior sales specialist, Paul Adam to sales specialist, Stephanie Johnston to sales onboarding specialist, Kimberly Wilkerson to internet sales counselor and Taylor Davis to director of marketing and digital strategies. The company also welcomed Brian Weston as sales specialist in Michigan and Jennifer Walker as sales and marketing project associate.

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AcquisitionsAffordable HousingIllinoisNews

PEF Advisors Acquires 198-Unit Freedom Village Affordable Community in Homewood, Illinois

by Jeff Shaw

HOMEWOOD, Ill. — Preservation Equity Fund Advisors LLC (PEF Advisors) has acquired Freedom Village, an affordable seniors housing community in Homewood, approximately 20 miles south of downtown Chicago. Originally built in 1998 with tax credits from the Illinois Housing Development Authority, Freedom Village is a three-story building featuring 198 units in a mix of one- and two-bedroom floorplans. Apartments are reserved for seniors earning up to 60 percent of the area median income (AMI). Freedom Village was 98.5 percent occupied at the time of sale. The seller and price were …

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AcquisitionsGeorgiaNews

Chicago Pacific Founders Buys Two Celebration Village Communities in Georgia

by Jeff Shaw

ACWORTH and SUWANEE, Ga. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired Celebration Village Acworth in Acworth and Celebration Village Forsyth in Suwanee, both in the northern suburbs of Atlanta. Each property offers independent living, assisted living and memory care services. The communities offer a combined 474 units. Cushman & Wakefield’s Richard Swartz, Jay Wagner, Tim Hosmer and Christopher Remeika represented the seller in the transaction, a joint venture between AgeWell Living, The ASC Group and a large investment fund. Grace …

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