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CCRCDevelopmentIllinoisNews

HJ Sims Arranges USDA Financing for $32M Expansion Project at Evenglow Lodge in Pontiac, Illinois

by Jeff Shaw

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 …

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AcquisitionsMemory CareNewsTexas

Blueprint Brokers Sale of Two Revere Court Memory Care Communities Near Dallas

by Jeff Shaw

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 …

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AcquisitionsCompany NewsNewsTechnology

Seniors Housing Tech Firm Merger: iN2L Acquires LifeLoop

by Jeff Shaw

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, …

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FinanceNews

Oxford Closes $280M in Healthcare Financing During Q1

by Jeff Shaw

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 …

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FloridaNewsOperationsPeople

Lifespace Appoints Brandon Bornstein as Executive Director of Abbey Delray in Florida

by Jeff Shaw

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.

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FeaturesNewsOperationsPeople

Employers Need to Rethink Benefits, Recruiting Amid Workforce Challenges, Webinar Panel Concludes

by Jeff Shaw

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 …

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Active AdultDevelopmentNewsTexas

Avenida, Artemis Plan 203-Unit Active Adult Community in Carrollton, Texas

by Jeff Shaw

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 …

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Assisted LivingCaliforniaDevelopmentNews

Clearwater Living Nears Completion of 117-Unit Community in Glendora, California

by Jeff Shaw

GLENDORA, Calif. — Clearwater Living has opened the sales office at Clearwater at Glendora, a 117-unit assisted living and memory support community in Glendora, approximately 25 miles east of Los Angeles. Construction on Clearwater at Glendora began in spring of 2021. The two-story, 117,000-square-foot property is being built on nearly three acres. When it is completed later this year, the community will feature 88 assisted living and 29 memory care apartments with studio, companion, one-bedroom and two-bedroom layouts.

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AcquisitionsMissouriNewsSkilled Nursing

Blueprint Brokers Sale of Two Skilled Nursing Facilities in Metro Kansas City

by Jeff Shaw

HARRISONVILLE and LEXINGTON, Mo. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Meadow View of Harrisonville Health & Rehabilitation and Riverbend Heights Health & Rehabilitation. The two skilled nursing facilities are located in the Kansas City suburbs of Harrisonville and Lexington, respectively. The portfolio totals 280 licensed beds. Both assets were built in the 1970s. Following a tenant transition in 2018 facilitated by Blueprint for the REIT owner, specific targeted capital improvement projects were completed, and operational performance improved as a result. With the improved census and …

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AcquisitionsActive AdultNews

CBRE Arranges Sale of Three-Property Active Adult Portfolio in the Midwest

by Jeff Shaw

HOUSTON — CBRE National Senior Housing, a Houston-based broker and financial intermediary, has arranged the sale of a three-community active adult portfolio in the Midwest. The portfolio consists of nearly 300 units across three cities in the Midwest. Further details on the assets were not disclosed. John Sweeny Jr., Aron Will, Austin Sacco, Garrett Sacco and Scott Bray represented the seller, an active adult developer, owner and operator.

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