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Juniper Communities Promotes Chuck Hastings to President, Amy Purcell to Vice President of Sales

by Jeff Shaw

BLOOMFIELD, N.J. — Juniper Communities, a Bloomfield-based owner-operator, has promoted Chuck Hastings to president and Amy Purcell to vice president of sales. Hastings, formerly the CFO, assumes an expanded role in addition to his current responsibilities. In making the announcement, CEO Lynn Katzmann praised Hastings’ 27-year tenure at Juniper. Katzmann will continue as CEO to drive strategic and business development activities as Hastings focuses on day-to-day operations and financial success. Purcell has been with Juniper for three years. 

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AcquisitionsCCRCFinanceNew JerseyNews

Ziegler Arranges $42.5M Acquisition Financing for Applewood CCRC in Freehold, New Jersey

by Jeff Shaw

FREEHOLD, N.J. — Ziegler has arranged $42.5 million in bond financing for FellowshipLIFE, a nonprofit owner-operator of continuing care retirement communities (CCRCs) in New Jersey. The borrower will use the funds to acquire Applewood, a CCRC formerly owned by CentraState Healthcare System in the North Jersey town of Freehold.  Located on approximately 44 acres, Applewood opened in 1990 and offers a full continuum of care to its long-time residents. Applewood offers 300 independent living units, 37 assisted living units, 11 memory care units and 60 skilled nursing units. Ziegler facilitated …

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AcquisitionsNewsSkilled NursingTexas

SLIB Brokers Sale of 112-Bed Treemont Health Care Center in Houston

by Jeff Shaw

HOUSTON — Senior Living Investment Brokerage (SLIB) has arranged the sale of Treemont Health Care Center, a 112-bed assisted living and skilled nursing community in Houston. Built in 1974, the 39,058-square-foot community sits on approximately 1.3 acres. The bed mix is 42 assisted living and 70 skilled nursing. A regional owner-operator sought to exit the property due to the post-pandemic operating difficulties. The buyer was a local owner-operator looking to expand in Houston. The buyer assumed a HUD loan associated with the property. The price was not disclosed Vince Viverito, …

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AcquisitionsAssisted LivingNewsPennsylvania

Blueprint Negotiates Sale of 114-Unit Community Near Philadelphia

by Jeff Shaw

PHILADELPHIA — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 114-unit assisted living and memory care community in the suburbs of Philadelphia. Ownership acquired the 1988-built community in 2018 with a plan to execute an investment and repositioning strategy. Ownership subsequently invested significant capital to renovate and modernize the community. However, a subsequent influx of new competitive supply caused a persistent drag on occupancy and rate growth, according to Blueprint. The challenges were then exacerbated by the pandemic and its lasting inflationary impact on operating expenses. The …

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NewsPeople

Ascension Living Names Erin Shadbolt CEO

by Jeff Shaw

ST. LOUIS — Ascension Living, a faith-based operator based in St. Louis, has named Erin Shadbolt its new chief executive officer. She will provide strategic and operational leadership over Ascension’s diversified seniors housing services, including independent living, assisted living, memory support, skilled nursing and short-term rehabilitation.  In addition to serving as CEO, Shadbolt continues in the dual role of vice president of post-acute and at-home services. Shadbolt joined Ascension in 2022 and has held several key positions, including chief nursing officer of post-acute and at-home services and interim chief operating …

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AcquisitionsFeaturesInvestmentNews

With Economic Conditions Stabilizing, Industry Executives Expect Transactions to Ramp Up

by Jeff Shaw

CHICAGO — A big question hangs over the investment market: When will transaction activity pick up again? Seniors housing fundamentals are strong. Occupancies are recovering. New development is scarce. And demand is set to surge as a growing number of baby boomers turn age 80, the point at which senior living becomes an increasingly attractive option for older Americans. But worries about inflation, the direction of interest rates, lack of debt capital and the fear of buying at the wrong price are curbing investment activity. In this uncertain environment, can …

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Welltower Announces $900M Private Offering

by Jeff Shaw

TOLEDO, Ohio — Welltower Inc. (NYSE: WELL), a Toledo-based REIT and the largest owner of seniors housing in the United States, has announced a private offering of $900 million in exchangeable senior notes. The initial offering was initially priced at $750 million, meaning interest was presumably high when the total was raised by a third after just one day. The notes will accrue interest payable semi-annually in arrears on Jan. 15 and July 15 of each year at a rate of 3.125 percent per year.  The notes will mature on July …

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AcquisitionsColoradoIllinoisNews

Sunrise Senior Living Adds 13 Communities in Midwest, West

by Jeff Shaw

MCLEAN, Va. — Sunrise Senior Living, a McLean-based owner-operator, has added 13 senior living communities to its portfolio. The acquisitions came via two transactions. In the first, Sunrise became a joint-venture owner of two communities in the Chicago metro offering assisted living and memory care services. In the second transaction, Sunrise took over ownership of eight independent living communities in the greater Rocky Mountains area, and expects to take on three more management contracts in the coming weeks. The investment partners and names of the communities were not disclosed. Additionally, …

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AcquisitionsIndianaNewsOhio

Berkadia Negotiates Sale of 247-Unit Midwestern Portfolio

by Jeff Shaw

INDIANA and OHIO — Berkadia has arranged the sale of two recently developed, Class A senior living communities offering independent living, assisted living and memory care services in Indiana and Ohio.  Berkadia Seniors Housing & Healthcare, led by Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers, closed the 247-unit transaction on behalf of Indianapolis-based Leo Brown Group. The buyer was a long-time owner of senior living communities. Leo Brown Group developed the properties, which Traditions Management operates.The assets were built in 2020 and 2021.

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