ST. LOUIS and TAMPA — EmpowerMe Wellness, a St. Louis-based integrated healthcare provider serving senior living communities nationwide, has acquired Salus Physical Therapy, one of Florida’s largest providers of outpatient therapy to senior living communities. Based in Tampa, Salus serves 45 senior communities across the state of Florida. All of Salus’ 175 employees have been offered positions by EmpowerMe Wellness, including therapists and corporate office staff. With this acquisition, EmpowerMe Wellness will now serve over 450 senior living communities across more than 20 states. “Through our partnership, EmpowerMe will make …
SPRINGFIELD, Ore. — Ridgeline Management Co. has reestablished its relationship with Bayberry Commons, a 62-unit assisted living and memory care community in Springfield. The community opened in 2007, and Ridgeline formerly operated the property for an undisclosed period. Bayberry Commons allows Ridgeline to expand its existing footprint in Oregon, where Chateau Gardens, a 22-unit memory care community, is less than two miles away. In Oregon, Ridgeline also manages Waverly Place in Albany, as well as home health company Wellness at Home.
PLAINVIEW, N.Y. — EW Howell Construction Group has promoted Daniel Williams from vice president and CFO to president and Howard Rowland from president and chief operating officer to CEO. Williams will retain his duties as CFO, while the moves are part of a transition plan to install Rowland as chairman at the end of 2023. Rowland joined EW Howell in 1983 as project manager and became president of the firm in 1997. Williams joined the firm in 2007 as the firm’s controller, and was promoted to CFO in 2016. Williams …
CHICAGO — Backed by strong long-term demand and increased investor interest, the seniors housing sector is now fully in recovery mode, according to JLL’s Valuation Advisory group’s fifth annual Seniors Housing Investor Survey and Outlook. The survey also revealed that investors are bullish on the seniors housing and care sector as a result of the projected “silver tsunami” of retired baby boomers and expected subsequent supply shortage. The survey had more than 100 respondents, all transactional professionals who specialize in the seniors housing and care space. The Chicago-based firm released …
BONITA SPRINGS, Fla. — Discovery Senior Living and National Health Investors (NYSE: NHI) have formed a joint venture to acquire and rebrand nine former Holiday Retirement communities. The properties are located in Arkansas, Georgia, Ohio, Oklahoma, New Jersey and South Carolina and total 1,094 units. Discovery Senior Living and its subsidiary management companies have taken over operations. Additionally, Discovery will assume operations of Isles of Vero Beach, a 230-unit assisted living community in Vero Beach, Florida, through Discovery and NHI’s existing joint venture. That property will be renamed Discovery Village …
BROOKINGS, GOLD BEACH and SHERIDAN, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of four properties in Oregon: two properties in Brookings, one in Gold Beach and another in Sheridan. The combined communities consist of 169 units and 190 beds. Brookings is a city in Curry County, located on the coast. Gold Beach is located 30 miles north of Brookings on the coast. Sheridan is located approximately 50 miles southwest of Portland. These facilities combined total approximately 109,507 square feet and are situated on approximately 25.6 acres …
GUILFORD, Conn. — Lument has provided an $18.9 million HUD refinancing for The Guilford House, a 96-bed assisted living and skilled nursing facility in Guilford, a coastal town 15 miles east of New Haven. The closing refinances a blended-rate loan from 2019 provided by Lument to fund an expansion of assisted living units and services. Aaron Becker, head of seniors housing and healthcare production for Lument, led the transaction. “This refinance marks the culmination of a successfully implemented plan that expanded the community’s scope of services and positions it for …
LEAWOOD, Kan. — Midwest Health has reopened Homestead Estates of Leawood, an assisted living community in the Kansas City suburb of Leawood. The community closed in early 2020 for a full renovation. “Today’s seniors want to live in a beautiful setting while receiving the care they need,” says Ashley Dawson, executive director of Homestead Estates. “That’s why we took extra special care in redesigning this community. Everything from the premium light fixtures to the granite countertops is top-notch.” Midwest Health manages the community, as well as several other senior living …
CLEVELAND — Bellwether Enterprise Real Estate Capital LLC (BWE), a commercial and multifamily mortgage banking company based in Cleveland, has arranged five loans totaling $151 million to finance nine assisted living and memory care communities across the United States. Ryan Stoll, national director of seniors housing and care, leads BWE’s efforts to secure financing for seniors housing and care communities. The transactions include: A $64.8 million Fannie Mae loan to finance four assisted living and memory care communities across the Northeast for Bridge Investment Group. Bridge Senior Living operates the …
RENO, Nev. — Inspired Healthcare Capital (IHC) has acquired Summit Estates Senior Living, a 124-unit assisted living and memory care community in Reno. The price and seller were not disclosed. IHC is a Scottsdale, Arizona-based private real estate investment firm that focuses on the seniors housing sector. This was IHC’s first acquisition in 2022, after closing on nine senior housing transactions in 2021.