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Affordable HousingDevelopmentFloridaNews

Housing Trust Group, AM Affordable Housing Break Ground on $44M Tucker Tower in Miami

by Jeff Shaw

MIAMI — Housing Trust Group (HTG) and AM Affordable Housing have broken ground on Tucker Tower, a $44 million affordable housing community in Miami for seniors age 62 and older. Located in the city’s Perrine neighborhood, the eight-story property’s apartments will be reserved for income-qualifying residents who earn at or below 25, 30 and 60 percent of area median income (AMI), with rents ranging from $457 to $1,317 per month. The property is scheduled to open in early 2024. The project team for Tucker Tower includes general contractor BDI Construction; …

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AcquisitionsActive AdultIndependent LivingIndianaNews

Blueprint Negotiates Sale of Discovery Commons at College Park in Indianapolis

by Jeff Shaw

INDIANAPOLIS — Blueprint Healthcare Real Estate Advisors has arranged the sale of Discovery Commons at College Park, a 148-unit independent living community in Indianapolis. A publicly traded REIT sold the asset to Elevation Financial Group, which plans to convert the community to active adult living. The price was not disclosed.

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Company NewsNewsPeopleTechnology

Attane Names Scott Kokotan as CEO, Lisa Pearre as Chief Client Officer

by Jeff Shaw

KANSAS CITY, Mo. — Attane, a Kansas City-based seniors housing marketing firm, has named Scott Kokotan as president and chief executive officer. Kokotan has served as Attane’s chief financial and development officer since March 2019 and helped transform the company’s technology platform to streamline the delivery of marketing solutions. He succeeds Chris Egan who left Attane this summer to pursue chairperson and board member roles for a Kansas City-based technology business. To manage the company’s financial/accounting team as Kokotan leaves the department, Attane hired Catherine Felten as senior vice president. …

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FeaturesNewsOperations

NIC Panel Shares Ways Seniors Housing Operators Can Improve Overall Customer Experience

by Jeff Shaw

WASHINGTON, D.C. — The seniors housing industry needs to improve overall customer service to deliver a more engaging and enriching product, according to William Swearingen, senior vice president of Spectrum Retirement Communities, a Denver-based owner and operator that offers independent living, assisted living and memory care. The good news is there are no barriers to entry to fix the problem. “It doesn’t take a budget; we don’t have to have the massive cash flow right out of the gate to be able to make these changes in the buyer experience,” …

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AcquisitionsCaliforniaNewsSkilled Nursing

ESI Arranges $25M Sale of Skilled Nursing Facility in Anaheim, California

by Jeff Shaw

ANAHEIM, Calif. — Evans Senior Investments (ESI) has arranged the sale of a 138-bed skilled nursing community in Anaheim for $25 million. A local owner-operator sold the asset to an East Coast-based real estate holding company, which will lease the property to a local operator. The purchase price equates to $181,159 per bed. At the time of marketing, the community was 96 percent occupied and making over $2 million per year in net operating income. The facility also holds a contract for over 50 therapeutic residential care beds. Matt Jassak …

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InvestmentNewsPeople

American Healthcare REIT Hires Conor Wagner as Head of Investor Relations

by Jeff Shaw

IRVINE, Calif. — American Healthcare REIT Inc., a private investor based in Irvine, has hired Conor Wagner as senior vice president of investor relations and finance. Wagner reports directly to Chief Financial Officer Brian Peay and is responsible for leading the company’s investor relations department. Prior to joining American Healthcare REIT, Wagner was vice president of finance for Donahue Schriber Realty Group, a grocery-anchored and shopping center focused REIT, where he oversaw investor reporting and strategic finance activities. He previously served in a similar capacity with publicly traded apartment REITs …

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Affordable HousingDevelopmentNewsOhio

Pennrose, NEST Open $13M John Arthur Flats LGBTQ-Friendly Affordable Community in Cincinnati

by Jeff Shaw

CINCINNATI — Northsiders Engaged in Sustainable Transformation (NEST) and Pennrose have opened John Arthur Flats, Cincinnati’s first LGBTQ-friendly affordable seniors housing community. Located in the Northside neighborhood, the development adds 57 affordable units for residents age 55 or older. The three-story, elevator-serviced building includes studio, one-, and two-bedroom apartments available for residents earning 30 percent to 60 percent of the area media income (AMI), with rents ranging from $444 to $1,212 per month. The new community helps meet the demand for inclusive, affordable housing in the region, where the National …

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AcquisitionsFinanceNewsSkilled NursingTexas

Colliers Mortgage Arranges $11.8M Acquisition Loan for Skilled Nursing Portfolio in Texas

by Jeff Shaw

TEXAS — Nick Skarich, Steven Marx, Corley Audorff and Josh Williams of Colliers Mortgage have arranged an $11.8 million bridge loan for the acquisition of three skilled nursing facilities in Texas. The facilities, which participate under the Texas Quality Incentive Payment Program, total 358 licensed beds. The loan includes $3.5 million for renovations. The loan carries a three-year term with two 12-month extensions and an interest-only payment period. No further information was disclosed.

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AcquisitionsColoradoNewsSkilled Nursing

Blueprint Negotiates Sale of 91-Bed Skilled Nursing Facility in Colorado

by Jeff Shaw

COLORADO — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 91-bed skilled nursing facility in Colorado. Solterra Castle Rock sold the asset to the existing operator for an undisclosed price. The property was built in the 1970s and sits between Denver and Colorado Springs.

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AcquisitionsCompany NewsNews

Transforming Age to Open Second Headquarters, Adds 10 Managed Communities

by Jeff Shaw

OMAHA, Neb. — Transforming Age has announced plans to open a second headquarters in Omaha, along with the addition of 10 third-party managed communities largely in the Midwest. Following the new operational acquisitions, Seattle-Based Transforming Age’s portfolio will total nearly 70 communities. The newly added third-party managed communities, including one under construction, are located in Illinois, Colorado, Nebraska, Kansas, Iowa and South Dakota. This mix of entrance-fee and market-rate rental communities represents over 1,000 units. New additions to the Transforming Age team will include Frankie Pane, Julie Bennett, Camille Burke …

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