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CCRCDevelopmentMarylandNews

Senior Lifestyle Corp. Completes $13M Renovation Project at Atrium Village in Owings Mills, Maryland

by Jeff Shaw

OWINGS MILLS, Md. — Senior Lifestyle Corp. has completed a $13 million renovation project at Atrium Village, a seniors housing community in the Baltimore suburb of Owings Mills. The project “completely reimagined” the property, adding 187 independent living, 58 assisted living and 20 memory care units. The renovation is part of a 20-year anniversary transformation to create a next-generation senior living experience, according to Senior Lifestyle. Atrium Village has partnered with the Community College of Baltimore County on weekly instructor-led classes.

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NewsPeople

Discovery Senior Living Promotes Lou Maranto to Senior Vice President of Sales

by Jeff Shaw

BONITA SPRINGS, Fla. — Discovery Senior Living has promoted Lou Maranto to senior vice president of sales. Maranto has served as vice president of sales for Discovery since 2018, and has been integral in the company’s planning and execution of milestone innovations including the launch of its centralized sales contact center in February 2021. Maranto will continue to oversee Discovery’s national sales organization, which consists of three national brands, four regions, a sales education department and the sales contact center. Under Maranto’s leadership, Discovery has strategically expanded its sales training …

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AcquisitionsDevelopmentMichiganNewsOhioOperationsTennessee

Welltower Acquires 33-Property Seniors Housing Portfolio for $548M, Plans Two Developments in Silicon Valley

by Jeff Shaw

TOLEDO, Ohio — Welltower Inc. (NYSE: WELL), a Toledo-based healthcare REIT, has agreed to acquire 33 seniors housing communities totaling 2,787 units in Michigan, Ohio and Tennessee. The purchase price is $548 million. The communities will be acquired as three separate portfolios from undisclosed sellers. The communities were available for purchase because the lease-up process was heavily damaged by the onset of the COVID-19 pandemic. With occupancy at only 63 percent, Welltower expects the communities will greatly improve their performance in 2023 and beyond. Welltower will install Michigan-based senior living operator …

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Active AdultCaliforniaDevelopmentNews

Greystar Acquires Land for Everleigh San Clemente Active Adult Community in California

by Jeff Shaw

SAN CLEMENTE, Calif. — Greystar has acquired a plot of land at 515 Avenida Vaquero in San Clemente for Everleigh San Clemente, an active adult development. “Everleigh San Clemente is ideal for people that have been living in San Clemente since they bought their first home and don’t want to leave the charming beach town,” says Emily Clark, regional property manager said. “The community has an ideal location just a mile from the ocean with access to the Pacific Coast Highway, which features a convenient walking and biking trail that …

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Affordable HousingAssisted LivingFinanceMassachusettsNews

Greystone Provides $24.8M Freddie Mac Refinancing for Affordable Community in Cape Cod

by Jeff Shaw

MASHPEE, Mass. — Greystone has provided a $24.8 million Freddie Mac Optigo loan to refinance a 70-unit senior housing property in Mashpee, a town on Cape Cod. Built in 2018, Laurentide at Mashpee Commons in Barnstable County includes studio, one- and two-bedroom units and offers assisted living and memory care services. Approximately 10 percent of the units are designated affordable housing by the Cape Cod Housing Authority. Shailini Nehra of Greystone arranged the transaction on behalf of the owner-operator, Northbridge Cos. The fixed-rate, nonrecourse financing carries a 10-year term and …

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AcquisitionsIllinoisNewsSkilled Nursing

CareTrust REIT Acquires Imboden Creek Living Center in Decatur, Illinois

by Jeff Shaw

DECATUR, Ill. — CareTrust REIT Inc. (NASDAQ: CTRE) has acquired The Imboden Creek Living Center, Gardens and Villas, a skilled nursing campus in Decatur, approximately midway between Chicago and St. Louis. The campus features 95 licensed skilled nursing beds, 46 assisted living units and five independent living units. The acquisition was a “tack-on” to CareTrust’s existing eight-property master lease with Harrisburg-based operator WLC Management Firm LLC, which will replace the outgoing operator. CareTrust’s initial investment in the facility, inclusive of capital expenditure commitments and transaction costs, was approximately $13.1 million. …

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AcquisitionsNewsOhioSkilled Nursing

Blueprint Brokers Sale of Good Shepherd Village in Springfield, Ohio

by Jeff Shaw

SPRINGFIELD, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Good Shepherd Village, a skilled nursing facility in Springfield. The community was built in the 1960s and was renovated in the 1990s. A private equity owner-operator based in New York was the buyer. Although the seller, price and number of beds were not released, the purchase price equated to approximately $83,000 per bed.

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NewsOperationsPeople

Claiborne Senior Living Hires Brooke Saxon-Spencer as Vice President of Marketing

by Jeff Shaw

HATTIESBURG, Miss. — Claiborne Senior Living, a Hattiesburg-based operator, has hired Brooke Saxon-Spencer as vice president of marketing. Saxon-Spencer is responsible for all aspects of the organization’s marketing efforts, both corporately and for Claiborne Senior Living’s communities. Saxon-Spencer brings over 20 years of experience in senior living including senior management roles at Radiant Senior Living, Oakmont Senior Living and Covenant Living. She is also the founder and editor-in-chief of Belong Magazine, a publication for female creatives and entrepreneurs.

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CCRCDevelopmentFinanceNewsOregon

Ziegler Arranges $58.4M Financing for Capital Manor CCRC in Salem, Oregon

by Jeff Shaw

SALEM, Ore. — Ziegler has arranged $58.4 million in bond financing for Capital Manor, a continuing care retirement community (CCRC) in Salem. Capital Manor features 302 independent living units and 83 residential care beds with an additional 34 memory care beds. Life Care Services has operated the community since 2010. The financing will refund bonds from 2012 while funding a renovation project that will include a new façade and refreshed common areas. “It has been exciting to see Capital Manor, under Life Care Services’ leadership, execute a major operations turnaround, …

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DevelopmentMemory CareNevadaNews

SR Construction Completes Silverado Red Rock Memory Care Community in Las Vegas

by Jeff Shaw

LAS VEGAS — SR Construction has completed work on Silverado Red Rock, a memory care community in Las Vegas. This single-story, 36,381-square-foot community features 60 resident rooms and 72 resident beds. The community will welcome its first residents on March 14. This is the second community that SR has built for Silverado.

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