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Supply Chain Issues Slow Seniors Housing Development as Demand Balloons, Say InterFace Panelists

by Jeff Shaw

ATLANTA — Delays in the arrival of building materials — everything from windows and roof trusses to microchips for electrical panels — is one of the biggest hurdles slowing down new seniors housing developments, according to Kristin Kutac Ward, CEO of Solvere Living. Ward’s comments came during the ninth annual InterFace Seniors Housing conference. The event, which took place Aug. 17 at the Westin Buckhead in Atlanta, was hosted by France Media’s InterFace Conference Group and Seniors Housing Business and drew 324 attendees. Joining Ward on the development panel was …

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AcquisitionsColoradoNewsSkilled Nursing

ESI Arranges $51.5M Sale of Seven-Property Skilled Nursing Portfolio in Colorado

by Jeff Shaw

COLORADO — Evans Senior Investments (ESI) has arranged the sale of seven skilled nursing facilities in Southwest Colorado for $51.5 million, or approximately $92,000 per bed. An owner-operator sold the 558-bed portfolio to an East Coast-based owner-operator looking to expand its reach in the West. The properties were built between 1957 and 2017. Prior to the COVID-19 pandemic, the portfolio was 77 percent occupied and produced nearly $6.2 million in annual net operating income. Throughout the pandemic, the portfolio’s occupancy decreased and at the time of marketing was only 65 …

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AcquisitionsAssisted LivingNewsSkilled NursingTexas

Blueprint Negotiates Sale of 106-Unit Vacant Community in Waco, Texas

by Jeff Shaw

WACO, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 106-unit assisted living and transitional car facility in Waco. Mainstreet developed the asset in 2015 and it was briefly operational before the property was foreclosed on and left vacant. Situated on 6.7 acres of land within the new, 150-acre mixed used development Legends Crossing, the facility is located adjacent to Baylor Scott & White Medical Center. The buyer was a Texas-based joint venture between Zelevie Health and Skywalker Property Partners. This is the joint venture’s first …

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DevelopmentFloridaNews

Allegro Plans 188-Unit Community in Fort Lauderdale, Florida

by Jeff Shaw

FORT LAUDERDALE, Fla. — Allegro Senior Living has unveiled plans for Allegro Fort Lauderdale, its 12th community in the state. The eight-story, 280,000-square-foot property will feature 188 units with views of the adjacent waterway and Atlantic Ocean. The community will offer independent living, assisted living and memory care services, though the number of units of each was not disclosed. Alliance Residential Co. is leading the development. Other partners include MSA Architects and FLYNN Engineering. Allegro Senior Living will assume management and oversight of the community upon completion. Allegro plans to …

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AcquisitionsColoradoFloridaIndianaNewsOklahomaWyoming

SLIB Arranges Sale of Five Communities Across Two Transactions

by Jeff Shaw

CHICAGO — Senior Living Investment Brokerage (SLIB), a Chicago-based brokerage firm, has arranged the sale of five communities totaling 440 units across two separate transactions. In the first acquisition, SLIB arranged the sale of four communities in Kokomo, Ind.; Pueblo, Colo.; Stillwater, Okla.; and Cheyenne, Wyo. The assets total 351 units and the portfolio averages 87 percent occupancy. The seller was a long-standing provider of seniors housing with a portfolio of over 30 communities. The buyer was a regional private equity group focused on the seniors housing space that aligned …

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NewsPeople

Spiezle Architectural Group Hires Julia Mueser as Director

by Jeff Shaw

HAMILTON, N.J. — Spiezle Architectural Group, a Hamilton-based firm that serves the seniors housing industry, has hired Julia Mueser as director of landscape architecture. Mueser will take the reins of Spiezle’s landscape architecture department, succeeding Jack Carman, who is retiring. Mueser has specialized in landscape architecture for over 25 years. She received her bachelor’s degree in landscape architecture from Pennsylvania State University. Mueser recently was the director of landscape architecture for a New Jersey-based engineering firm, where she also served as a professional planner.

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FeaturesNews

Updated NORC Study: 11M Seniors Won’t Be Able to Afford Seniors Housing in 10 Years

by Jeff Shaw

CHICAGO — By 2033, more than 11 million middle-income seniors age 75 and older may not be able to pay for assisted living and are also unlikely to qualify for Medicaid to pay for their long-term care needs. In an update to its “Forgotten Middle” study, researchers from NORC at the University of Chicago find that the middle-income cohort of seniors will grow by 7.5 million (89 percent) from 2018 to 2033. The study also found that seniors are becoming more racially and ethnically diverse, with people of color making …

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AcquisitionsActive AdultIndianaNews

CBRE Arranges Sale of 356-Unit Residences at Merrillville Lakes in Indiana

by Jeff Shaw

MERRILLVILLE, Ind. — CBRE’s Indianapolis/Louisville multifamily team, in partnership with CBRE National Senior Housing, has arranged the sale of Residences at Merrillville Lakes. Located in Merrillville, near the Illinois border south of Chicago, the active adult community features 356 units averaging 890 square feet. The seller was an entity controlled by the principals of two Chicago-based companies, Oculus Development and UIRC. The buyer and price were not disclosed. Steve LaMotte Jr., Dane Wilson, John Sweeny, Aron Will, Garrett Sacco and Scott Bray led the CBRE team.

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ArizonaAssisted LivingDevelopmentNews

Vista Living Completes 10,000 SF Community in Paradise Valley, Arizona

by Jeff Shaw

PARADISE VALLEY, Ariz. — Vista Living Senior Care Inc. has opened its newest assisted living home in Paradise Valley, a northeastern suburb of Phoenix. The 10,000-square-foot property is Vista’s fourth in the Phoenix metro. The number of units was not disclosed. “We believe that the Paradise Valley market is undersupplied,” says Vista Living CEO Brett Weisel.

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NewsPeople

American Healthcare REIT Appoints Former Welltower CFO Scott Estes to Board of Directors

by Jeff Shaw

IRVINE, Calif. — American Healthcare REIT Inc., a self-managed, publicly registered REIT based in Irvine, has appointed Scott Estes to the company’s board of directors. Estes will serve as one of the company’s independent directors and as a member of the audit committee. Following the appointment of Estes, the company’s board of directors will comprise 10 directors, seven of whom are independent. Estes served as chief financial officer of Welltower Inc., the largest owner of seniors housing in the country, from March 2006 to October 2017. His 14-year tenure with …

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