HACKENSACK, N. J., and SCOTTSDALE, Ariz. — Executive Home Care, a Hackensack-based in-home care provider with a wide range of service options and care programs, has acquired the Assisted Living Locators brand and franchise system. Assisted Living Locators is a Scottsdale-based franchise dedicated to helping seniors find the right living and care solutions. Backed by The Riverside Company, a private equity firm, Executive Home Care’s acquisition of Assisted Living Locators expands the company’s footprint in the senior care space. “The addition of Assisted Living Locators fits seamlessly with our business …
MOSELEY, Va. — Watercrest Senior Living Group has hired Marsha Sottung as executive director of Watercrest Richmond Assisted Living and Memory Care in Moseley. Watercrest Richmond is currently under construction and preparing to welcome residents this fall to the 98-unit luxury senior living community. Sottung was the youngest assisted living administrator in the state of New York at the age of 21. For the past 30 years, she has served in various roles as a certified nursing aide, operations director and regional manager.
ANNAPOLIS, Md. — The National Investment Center for Seniors Housing & Care (NIC), an Annapolis-based nonprofit firm that tracks industry data, has unveiled its first industry-wide definition of the active adult sub-segment with the intent of better guidance for investors. Active adult residents are typically younger and healthier than people in today’s senior housing communities. Active adult properties do not require healthcare licensure, involve fewer resources to operate, and experience less frequent turnover, making them attractive investments, while satisfying older baby boomers’ emerging housing needs. NIC experts say active adult …
HENDERSON, Nev. — Evans Senior Investments (ESI) has arranged the sale of TLC Care Center, a 255-bed skilled nursing facility in Henderson. An independent owner-operator sold the asset to Hill Valley Healthcare for $50 million, or $196,000 per bed. Built in 1999, TLC Care Center is located just 10 miles south of the Las Vegas strip. The facility features 35 private and 112 semi-private rooms, which includes 42 ventilator-equipped beds in a designated wing. Prior to the COVID-19 pandemic, the facility exhibited over 90 percent occupancy levels and produced over …
ATLANTA — Bellwether Enterprise Real Estate Capital LLC has provided a $23.9 million HUD 221(d)(4) loan to finance the rehabilitation of Jewish Tower and Zaban Tower, two affordable housing communities for seniors located at 3156 and 3160 Howell Mill Road in Atlanta. Jeff Mion of Bellwether’s Duluth, Ga., office originated the loan on behalf of the borrower, The Jewish Home Tower Inc. Following completion of rehabilitation, Bellwether will convert the interest-only construction period loan to a permanent loan at the same interest rate (3.99 percent) for a period of 40 …
Forefront Living Opens 112-Unit Independent Living Expansion at Presbyterian Village North in Dallas
DALLAS — Forefront Living has completed The Hawthorne, an expansion project at Presbyterian Village North in Dallas. The project added 112 units of independent living at the community’s 66-acre campus. The new building is named after Douglas D. Hawthorne, founding CEO emeritus of Texas Health Resources. Hawthorne was a guiding force behind the expansion.
DILLSBURG, Pa. — Presbyterian Senior Living (PSL), a nonprofit provider of senior and retirement care services based in Dillsburg, has named Dan Davis to serve as president and chief executive officer. Davis will fill the position previously held by James Bernardo, who plans to retire at the end of the year. Davis has been with PSL for 21 years and has more than 30 years of aging services leadership experience. Prior to his appointment, Davis served as PSL’s senior vice president and chief operating officer. Davis was selected after a …
SEATTLE — Ryan Cos. US Inc. and Aegis Living have unveiled plans for a new seniors housing community in the Ballard neighborhood of Seattle. Construction began in March 2022 for a planned opening in early 2024. The 75 and older community is expected to grow nearly 25 percent in King County between now and 2027, according to the Environmental Systems Research Institute (ESRI). The five-level story assisted living and memory care community will total approximately 75,000 square feet and house 92 units. DAHLIN is serving as architect for the project, …
VALRICO, Fla. — Experience Senior Living (ESL) has unveiled plans for The Gallery at South Tampa, a seniors housing community in Valrico, an eastern suburb of Tampa. Located on a 17-acre plot, ESL plans to break ground on the development before the end of the year. The 240,613-square-foot community will feature 202 homes including 30 independent living cottages, 89 independent living apartment homes, 45 assisted living apartment homes and 38 memory care suites. The Gallery at South Tampa will be ESL’s seventh community in Florida and fourth on the Gulf …
BREVARD, N.C. — The Atlanta-based seniors housing and healthcare finance team of Grandbridge Real Estate Capital has provided a $34.7 million Fannie Mae loan for Chattanooga-based BrightSpace Senior Living. The funds were used to provide financing for College Walk Retirement Community, a 168-unit independent living and assisted living community in Brevard. Further details were not disclosed.