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CBRE Negotiates Sale of 481-Unit, Four-Property Active Adult Portfolio

by Jeff Shaw

PITTSBURGH, INDIANAPOLIS AND LOUISVILLE, Ky. — CBRE has brokered the sale of four active adult communities totaling 481 units in the Pittsburgh, Indianapolis and Louisville metro areas. An institutional investor that is a leading active adult owner-operator was the seller. Another institutional investor acquired the properties for an undisclosed price. CBRE’s Indianapolis multifamily team consisting of Steve LaMotte and Dane Wilson, CBRE’s Pittsburgh multifamily team consisting of Laura Lawrence, and CBRE’s National Senior Housing team members John L. Sweeny Jr., Aron Will, Garrett Sacco and Scott Bray represented the seller. …

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AcquisitionsNew YorkNewsNorth CarolinaSouth Carolina

Bellwether Arranges $62M in Financing for Seniors Housing Communities in Carolinas, New York

by Jeff Shaw

GREENVILLE, S.C.; CHARLOTTE, N.C.; AND KENMORE, N.Y. — Bellwether Enterprise Real Estate Capital LLC has arranged three loan deals totaling more than $62 million to finance three assisted living and memory care communities in Greenville, one assisted living and memory care facility in Charlotte and a 150-unit affordable seniors housing development in the Buffalo suburb of Kenmore. The national seniors housing and care team at Bellwether originated the Carolina loans, led by Ryan Stoll, Taylor Mokris and Kim Huffstutler. Lundat Kassa and Anthea Martin originated the New York loan. The …

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AcquisitionsAssisted LivingNewsTexas

MedCore Acquires 86-Unit Avenues of Park Forest in Farmers Branch, Texas

by Jeff Shaw

FARMERS BRANCH, Texas — MedCore Partners has acquired an 86-unit senior living community in the first-ring Dallas suburb of Farmers Branch. MedCore has renamed the property, formerly called The Avenues of Park Forest, as The Grove on Forest Lane. The community features 70 assisted living and 16 memory care units. The transaction marks MedCore’s second acquisition in Texas but the first in the Dallas market. The property is MedCore’s 19th nationwide. Renovation effort will include new interior and exterior signage, courtyard landscaping, common area upgrades and apartment amenity enhancements. Senior …

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CCRCMarylandNewsPeople

Carroll Lutheran Village Names Peter Bolt as Executive Director

by Jeff Shaw

WESTMINSTER, Md. — Carroll Lutheran Village (CLV), a seniors housing community in Westminster, has named Peter Bolt as its new executive director. Bolt provides leadership oversight of day-to-day operations including following federal, state and local laws, regulations and standards governing long-term care facilities; and ensuring residents living in the life-plan community receive excellent care and outstanding customer service. Bolts’ background in senior living also includes a bachelor’s degree in healthcare management and a master’s degree in economics. He is a licensed nursing home administrator with over 25 years of senior …

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DevelopmentIllinoisNews

Premier Senior Living Opens 92-Unit Revela at O’Fallon in Illinois

by Jeff Shaw

O’FALLON, Ill. — Premier Senior Living has opened Revela at O’Fallon in O’Fallon, an eastern suburb of St. Louis. The property totals 92 units of independent living, assisted living and memory care in an 89,000-square-foot building. St. Louis Design Alliance designed the project, which Poettker Construction built. Premier Senior Living is the operator.

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AcquisitionsAssisted LivingKentuckyNews

SLIB Brokers Sale of 119-Unit Forest Hills Commons in Louisville, Kentucky

by Jeff Shaw

LOUISVILLE, Ky. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Forest Hills Commons, a 119-unit assisted living and memory care community in Louisville. Built in 2019, Forest Hills is located 14 miles from downtown Louisville on 4.4 acres. The seller is a regional owner-operator exiting the state of Kentucky. The buyer is a Midwest-based owner-operator looking to add to its existing footprint throughout the Midwest. The price was not disclosed. Ryan Saul and Daniel Geraghty handled the transaction on behalf of SLIB. “The seller developed this asset …

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AcquisitionsNewsOhioSkilled Nursing

ESI Negotiates Sale of 99-Bed Skilled Nursing Community in Ohio

by Jeff Shaw

OHIO — Evans Senior Investments (ESI) has arranged the sale of a 99-bed skilled nursing community in Ohio. Having been constructed in different phases from 1946 through 1985, the community received two significant renovations in 2013 and 2019. Consisting of 47 private rooms, the community was able to operate with an above-average quality mix. It was 70 percent occupied at the time of marketing, contributing to a breakeven net operating income. This was the buyer’s first acquisition in the skilled nursing space, although it was involved in the operations for …

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NewsOperationsPeople

12 Oaks Hires Nesley Fortenberry, Amy Hoster, Jayme Tapia to Solutions Team

by Jeff Shaw

DALLAS —12 Oaks Senior Living, a Dallas-based operator, has add three to its solutions team. Nesley Fortenberry, who joins the team as a sales consultant, brings 10 years of senior living experience. She started her career as sales manager at a senior living community in Ponca City, Oklahoma, and was promoted to sales specialist. She was subsequently promoted to the role of regional sales specialist, covering 18 states. In her most recent position, Fortenberry was regional sales director responsible for 12 communities in Oklahoma, Texas, Illinois and Wisconsin. Jayme Tapia …

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NewsPeople

BREAKING: NIC Appoints Raymond Braun as CEO, Brian Jurutka Stays as Advisor

by Jeff Shaw

ANNAPOLIS, Md. — In a surprise move, the National Investment Center for Seniors Housing & Care (NIC) has appointed Raymond Braun, a former board member and previous chair of NIC, as president and CEO. He replaces Brian Jurutka, who took the position in 2017 and will remain as a senior advisor to NIC. The reason for Jurutka relinquishing his post was not disclosed. Braun most recently served as dean of the Allen W. and Carol M. Schmidthorst College of Business at Bowling Green State University. “Brian guided NIC during a …

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CCRCDevelopmentNewsVirginia

Erickson Opens $500M Avery Point CCRC in Short Pump, Virginia

by Jeff Shaw

SHORT PUMP, Va. — Erickson Senior Living has opened the doors on Avery Point, a continuing care retirement community in Short Pump, a suburb of Richmond. The community is situated on a 94-acre campus and currently features 216 units of independent living. A second phase currently under construction will add 107 more independent living units. Upon full build-out, plans call for 1,160 independent living units in addition to an on-site continuing care neighborhood offering assisted living, memory care and skilled nursing services. The property is Erickson Senior Living’s third in …

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