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Memory CareNewsOperationsPeople

Anthem Memory Care Appoints Chris DeShon as Regional Director of Sales, Marketing

by Jeff Shaw

LAKE OSWEGO, Ore. — Anthem Memory Care, a Lake Oswego-based owner-operator, has appointed Chris DeShon as regional director of sales and marketing. In this position, DeShon is responsible for the overall sales and marketing of nine communities in Ohio, Michigan, Minnesota, Washington and Utah. DeShon previously was regional director of sales and marketing with Wallick Communities in New Albany, Ohio. He also served in that position with Clearwater Living in Newport Beach, California. He has supported over 40 senior living communities during his 10 years in senior living regional sales. …

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AcquisitionsFloridaNews

Grandbridge Negotiates $45M Bankruptcy Sale of Community in Florida

by Jeff Shaw

CHAMPIONSGATE, Fla. — Grandbridge Real Estate Capital’s Tampa-based seniors housing investment sales team has arranged the sale of a 223-unit senior living campus located in ChampionsGate, approximately 25 miles southwest of downtown Orlando. The Grandbridge sales team led by David Kliewer and Jay Jordan facilitated the sale to funds managed by Fortress Investment Group for $45 million. Fortress has engaged Watermark Retirement Communities to manage the community. Formerly known as Merrill Gardens at ChampionsGate, the new owner has changed the name to The Glades at ChampionsGate. The community features 114 …

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AcquisitionsAssisted LivingMinnesotaNews

Transwestern Brokers Sale of Hiawatha Suites in Minneapolis

by Jeff Shaw

MINNEAPOLIS — Transwestern Real Estate Services, through its Midwest Capital Markets team, has brokered the sale of Hiawatha Suites, an assisted living and memory care facility in Minneapolis. Transwestern’s Harrison Wagenseil and Erik Coglianese represented the seller, a local developer of multifamily, single-family and assisted living facilities, in the transaction. The buyer was not disclosed. While the price and number of units were not disclosed, the price represents over $200,000 per bed. “In the senior and assisted living space, COVID had a particularly poignant impact on values and occupancy,” says …

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FinanceNewsOhioSkilled Nursing

Cambridge Provides $6.1M HUD Refinancing for Continuing Healthcare of Milan in Ohio

by Jeff Shaw

MILAN, Ohio — Cambridge Realty Capital Cos. has provided a $6.1 million HUD-insured loan for Continuing Healthcare of Milan, a 92-bed skilled nursing facility in Milan, a small village of fewer than 1,500 residents between Cleveland and Toledo. The loan refinances existing debt on the property. “The loan was underwritten by Cambridge Realty Capital Ltd. of Illinois, our specialists in FHA-insured HUD loans,” says Jeffrey Davis, Cambridge’s chairman.

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Company NewsNewsPeopleTechnology

EmpowerMe Wellness Names Dr. Jody Mitchell as Chief Medical Officer

by Jeff Shaw

ST. LOUIS — EmpowerMe Wellness, an integrated healthcare provider serving more than 450 senior living communities nationwide, has named Dr. Jody Mitchell as chief medical officer. Based at EmpowerMe’s headquarters in St. Louis, Mitchell will oversee and manage clinical practices, focus on staff development for field clinicians, and utilize the most current research and practices to provide better outcomes for residents of senior living communities nationwide. Mitchell has been with Owensboro Health in Owensboro, Kentucky, since 2012, most recently as medical director of outpatient services and medical director of athletic …

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AcquisitionsConnecticutFinanceM&T Realty Capital CorporationNews

M&T Realty Capital Funds $51.6M Financing Package for Portfolio in Connecticut

by Jeff Shaw

HARTFORD, Conn. — M&T Realty Capital Corp. has closed $51.6 million in Fannie Mae Seniors Housing loans for the acquisition financing of a seniors housing portfolio located in the Hartford MSA. The borrowers are White Oak Healthcare REIT and Everbrook Senior Living. The 10-year, floating-rate loans are structured with three years of interest-only payments followed by a 30-year amortization. Matt Pipitone of M&T’s Baltimore office led the transaction. Further details on the properties were not disclosed.

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DevelopmentFinanceMissouriNews

Blueprint Arranges Development Financing for Bluffstone Community in St. Peters, Missouri

by Jeff Shaw

ST. PETERS, Mo. — Blueprint Healthcare Real Estate Advisors has arranged an undisclosed amount of development financing for The Bluffstone Senior Living, a ground-up seniors housing development in St. Peters, just across the Missouri River from St. Louis. Upon completion, Arrow Senior Living will operate the community, which features 91 independent living, 44 assisted living and 18 memory care units. The borrower is O’Reilly Development Co., an established regional seniors housing developer. Kayne Anderson Real Estate. Though Kayne has purchased two prior O’Reilly properties, this marks the first ground-up development …

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Assisted LivingMassachusettsNewsOperationsPeople

Benchmark Names Nick Barash as Executive Director of Haverhill Crossings in Massachusetts

by Jeff Shaw

HAVERHILL, Mass. — Benchmark Senior Living has named Nick Barash as executive director of Benchmark Senior Living at Haverhill Crossings, an assisted living and memory care community in Haverhill, located along the New Hampshire border north of Boston. Barash comes to Benchmark from Atria Merrimack Place in Newburyport, located just 15 miles east of his new employer, where he was also executive director. Previously, he was with Landmark Senior Living communities in Beverly. Barash graduated from James Madison University with a bachelor’s degree in kinesiology.

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AcquisitionsCaliforniaIndependent LivingNewsWashington

Merrill Gardens, NHI Acquire Six-Property Independent Living Portfolio in California, Washington

by Jeff Shaw

CALIFORNIA and WASHINGTON — A joint venture between owner-operator Merrill Gardens and publicly traded REIT National Health Investors (NYSE: NHI) has acquired six independent living communities located on the Pacific Coast. The communities were formerly managed by Holiday Retirement, and more recently, Atria Senior Living. The price and seller were not disclosed. The communities will be rebranded as part of the Truewood by Merrill brand. The properties include: Truewood by Merrill, Fig Garden; Fresno, Calif.; 103 units Truewood by Merrill, Modesto; Modesto, Calif.; 120 units Truewood by Merrill, Pinole; Pinole, …

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AcquisitionsNewsOklahomaSkilled Nursing

Plains Commercial Negotiates Sale of Three-Building Skilled Nursing Portfolio in Oklahoma

by Jeff Shaw

TULSA and CUSHING, Okla. — Plains Commercial has arranged the sale of three skilled nursing facilities in Tulsa and Cushing. The portfolio totals 243 licensed beds. Two of the buildings were built in the 1960s and 1970s, and had undergone extensive renovations in recent years. The third was built in 1997. The portfolio was legacy owned, having been very rarely available on the market in its operating history. The seller is a local operator that sought to exit the industry. The buyer is one of the largest skilled nursing operators …

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