SPRINGFIELD, Ore. — Ziegler has acted as financial advisor in a debt placement totaling $24 million. The borrower, Onelife Senior Living, will use the funds to develop Esther Assisted Living Community, a 103-unit property in Springfield, a suburb of Eugene. The Esther will be the fifth assisted living/memory care community owned by Onelife in Oregon. The financing provides a construction and bridge term for Onelife to build and stabilize the community prior to placing long-term, permanent, fixed-rate financing via long-term agency debt. The transaction was closed with asset management firm …
PALATKA, Fla. — Affordable Housing Investment Brokerage Inc. (AHIB) has sold Kay Larkin Apartments, a 60-unit garden-style apartment complex, and Grand Pines Apartments, a 78-unit senior living apartment community. Both properties are located in Palatka, approximately midway between Jacksonville and Orlando. The Grey Rock Group LLC acquired the assets from a private investor for $4.9 million. Kyle Shoemaker and Bill Brading of represented both the buyer and the sellerin the transaction. Kay Larkin and Grand Pines were both developed using LIHTC and SAIL funding and are subject to regulatory agreements …
CHICAGO — Pathway to Living, a Chicago-based developer, owner and operator and seniors housing arm of Chicago-based real estate investor and operator Waterton, has added Alex Germain-Robin as vice president of operations and Shea Krause as vice president of sales and marketing. Both will report to Jeff Floyd, who joined the firm as senior vice president, senior living operations earlier this year. Krause returns to Pathway to Living, having served briefly as regional director of sales in 2019. She will be responsible for the strategic direction of the firm’s metric-centered …
PONTIAC, Ill. — HJ Sims has arranged financing for a $32 million expansion project at Evenglow Lodge, a continuing care retirement community in downtown Pontiac, approximately 95 miles southwest of Chicago. The United States Department of Agriculture (USDA) is providing the majority of the funds. In accordance with USDA’s requirements, proceeds of the financing will be used for the construction of 76 replacement assisted living units, common space and other space used by the health center, as well as for the demolition of the existing assisted living structure. Opened in …
ARLINGTON and ROCKWALL, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sales of Revere Court of Arlington and Revere Court of Rockwall, both standalone memory care communities located in metro Dallas. Constructed in 2011, Revere Court of Rockwall consists of 44 memory care units while Revere Court of Arlington, built in 2000, contains 34 memory care units The communities faced operational challenges in 2020 due to the COVID-19 pandemic in addition to the physical plant being adversely affected by freezing temperatures across Texas in early 2021. The communities …
DENVER and OMAHA, Neb. — iN2L, a Denver-based digital engagement company serving the senior living market, has acquired LifeLoop, an Omaha-based resident engagement platform that encourages communication between residents, staff and family members. The buyer hopes LifeLoop’s suite of communication, experience and operational tools will help build healthy workplaces and communities that support the overall happiness, satisfaction and well-being of both residents and staff. Today, amid mounting caretaker burnout, the industry’s staffing crisis continues unabated, further exacerbating existing operational and occupancy challenges. According to the National Center for Assisted Living, …
ALEXANDRIA, Va. — Oxford Finance’s Healthcare Real Estate Group closed over $280 million of transactions in the first quarter of 2022, providing credit facilities ranging from $5 million to over $110 million. Highlights included: Oxford closed an $80.7 million term loan along with a $8.5 million revolving line of credit to finance the acquisition of four skilled nursing, assisted living and independent living facilities in Ohio. Oxford provided a $70 million term loan to refinance seven skilled nursing facilities and five assisted living facilities containing 1,198 licensed beds/units in Ohio …
DELRAY BEACH, Fla. — Lifespace Communities has appointed Brandon Bornstein as executive director of Abbey Delray, a senior living community in Delray Beach. Bornstein began his career in finance and, over time, gained experience as an operations specialist and executive director. He most recently served as executive director of the Somerby Franklin senior living community in Nashville, Tenn. Bornstein received his bachelor’s degree in finance and his MBA in finance from Tennessee Technological University.
As seniors housing operators struggle with recruiting and retaining quality employees amid a nationwide labor shortage, the time has come to take a long, hard look at benefits, employee well-being and company culture. “The year ahead is likely to be one of re-establishing goals and work norms and business models and reinvigorating the workforce,” said Donna Meek, director at Paychex, a Rochester, New York-based provider of payroll, benefits, human resources and insurance services. “Businesses must master new obstacles, such as having a distinct, compelling employer brand and changing their employee …
CARROLLTON, Texas — Avenida Partners and Artemis Real Estate Partners have unveiled plans for Avenida Carrollton, an active adult community in the Dallas suburb of Carrollton. The community will feature 155 market-rate apartments consisting of one- and two-bedroom floorplans, as well as 48 duplex and triplex cottages. Avenida Carrollton will be located on 10 acres, with over 35,000 square feet of interior and exterior amenities. Apartment floorplans will range from 686 square feet to 1,285 square feet; with duplex and triplex cottages ranging from 1,360 square feet to 1,490 square …