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Cambridge Realty Capital Founder, CEO Jeff Davis Passes Away

by Jeff Shaw

CHICAGO — Jeffrey Davis, the founder and CEO of Chicago-based seniors housing capital markets firm Cambridge Realty Capital, has passed away. He was 69 years old. While the company said the death was sudden, details were not disclosed. Davis’ passion for business began early in his life, and he channeled it into his studies at the University of Illinois, where he graduated with a degree in finance. He went on to pursue a graduate degree in real estate investment analysis and appraisal from the University of Wisconsin in 1976. Upon …

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AcquisitionsFinanceFloridaNews

Ziegler Advises Comprehensive Care Capital on $20.5M in Acquisition Financing

by Jeff Shaw

BOCA RATON and LANTANA, Fla. — Ziegler acted as exclusive financial advisor in raising financing of $20.5 million on behalf of Comprehensive Care Capital (CCC) to acquire two seniors housing communities in Boca Raton and Lantana. The communities, Banyan Place – Boca and Banyan Place – Lantana, offer independent living, assisted living and memory care services. Banyan Place – Boca features 130 independent living, assisted living and memory care beds. Banyan Place – Lantana features of 39 licensed memory care beds. CCC’s operating affiliate, Forte Healthcare, led by Yosef Nathan, …

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AcquisitionsNew JerseyNews

Blueprint Negotiates Sale of 164-Unit Ivystone Senior Living in Pennsauken, New Jersey

by Jeff Shaw

PENNSAUKEN, N.J. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Ivystone Senior Living in Pennsauken, just across the Delaware River from Philadelphia. The community features 100 independent living units, 43 assisted living units and 21 memory care units. The original physical plant was constructed in 1965, with additions to the property over the years. Priority Life Care, a court-ordered receiver as the property was in bankruptcy, sold the asset to UNPPG Management LLC, a privately held owner-operator based in New York. The price was not disclosed.

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Company NewsNewsOperationsPeople

Sonida Senior Living Hires Howard Garfield, Debbie Milligan to Finance Team

by Jeff Shaw

DALLAS — Sonida Senior Living Inc. (NYSE: SNDA), an operator based in Dallas, has hired Howard Garfield and Debbie Milligan as chief accounting officer and director of financial reporting. Most recently, Garfield was senior vice president, finance, treasurer and chief accounting officer for CorePoint Lodging Inc., a publicly traded real estate investment trust (REIT) with a geographically diverse portfolio. Prior to that, he served as the chief financial officer and chief accounting officer for Monogram Residential Trust for nearly a decade. Milligan also hails from CorePoint Lodging Inc. where she …

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Assisted LivingDevelopmentNewsTennessee

Meridian Realty Advisors Opens 100-Unit Cloverland Park in Brentwood, Tennessee

by Jeff Shaw

BRENTWOOD, Tenn. — Meridian Realty Advisors LP and Integral Senior Living have opened Cloverland Park Senior Living, a 100-unit seniors housing community in the Nashville suburb of Brentwood. Partners on the project include Pi Architects, SCI Construction, Thomas & Hutton, TDI Engineering and MEP Associates Design Group Inc. Located on 6.6 acres, Cloverland features 72 assisted living and 28 memory care units. “As part of this project, we donated seven acres of land to the city of Nashville for a planned park and walking trail site and look forward to …

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AcquisitionsGeorgiaNewsOperations

Charter Takes Over Management of Community in Vinings, Georgia

by Jeff Shaw

VININGS, Ga. — Charter Senior Living has taken over operations at The Social at Vinings, a seniors housing community in the first-ring Atlanta suburb of Vinings. The new operator has changed the name of the community to Charter Senior Living of Vinings. The change in management will increase the portfolio of Charter Senior Living retirement communities to more than 40 throughout the United States.

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NewsPeople

Kitchen & Associates Appoints Matthew Bartner as Managing Principal

by Jeff Shaw

COLLINGSWOOD, N.J. — Kitchen & Associates (K&A), a multidisciplinary design firm, has appointed Matthew Bartner as managing principal. Bartner, who previously served as principal and director of operations, succeeds Stephen Schoch, who will remain a principal of the firm. As managing principal, Bartner is responsible for maintaining the firm’s position as a leader of integrated design services across key markets and verticals. Bartner and the executive leadership team will be particularly focused on growth in the affordable and student housing sectors. Based in Collingswood, K&A designs properties for the affordable, …

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CCRCDevelopmentFinanceFloridaNews

Ziegler Arranges $68M Financing for Expansion Project at Cypress Cove in Fort Myers

by Jeff Shaw

FORT MYERS, Fla. — Ziegler has arranged $68 million in financing for Cypress Cove at HealthPark Florida, a continuing care retirement community in Fort Myers. The community currently features 377 independent living units, 44 assisted living units, 44 memory support units and 64 skilled nursing units on a 48-acre campus. The financing will fund the addition of a 12-acre gated community known as The Oaks at Cypress Cove, which will include 24 independent living villas, 24 independent living apartments and new common areas in a five-story building. The financing comprises …

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AcquisitionsIndianaNewsSkilled Nursing

SLIB Brokers Sale of 60-Bed Gentlecare of Vincennes in Indiana

by Jeff Shaw

VINCENNES, Ind. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Gentlecare of Vincennes, a 60-bed skilled nursing facility in Vincennes, along the Illinois border approximately equidistant from Indianapolis, Louisville and St. Louis. A private mom-and-pop seller looking to retire sold the community to The Strategies, an Indiana-based owner-operator, for an undisclosed price. Ryan Saul of SLIB led the transaction.

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FinanceInvestmentNewsPeople

Avanath Capital Management Promotes Wesley Wilson to Partner

by Jeff Shaw

IRVINE, Calif. — Avanath Capital Management LLC, an Irvine-based multifamily owner and operator that focuses on affordable and workforce housing, including for seniors, has promoted current CFO Wesley Wilson to partner. The move makes Wilson the youngest partner in the firm’s history. In addition, Patricia Gaudin was promoted from senior vice president of human resources to executive vice president of human resources. Wilson will be responsible for managing the firm’s new open-ended fund with over $536 million in equity commitments, serving as the firm’s sole investment vehicle moving forward. Coupled …

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