Friday, May 30, 2025
Read the Magazine Subscribe

News

Company NewsNews

Industry Veteran Scott McCorvie Launches Vita Senior Living

by Jeff Shaw

ORLANDO — Senior living veteran Scott McCorvie has launched a new venture, Vita Senior Living. The Orlando-based company is looking for value-add acquisitions in Florida. “Vita is Latin for Life, and that’s exactly what our mission and purpose is each day — to improve lives, plain and simple,” says McCorvie, CEO of the new company. “Each investment includes a specific plan to update the design and aesthetic appeal. Even relatively minor changes to the FF&E, unit mix, lighting, technology and community amenities can make a huge impact to the resident’s …

Continue Reading
0 FacebookTwitterLinkedinEmail
Active AdultDevelopmentFloridaNews

United Group Opens Clubhouse at $47.8M The Sovana at Stuart in Florida

by Jeff Shaw

STUART, Fla. — The United Group of Companies has opened the clubhouse at The Sovana at Stuart, an active adult community in Stuart. The opening of the  8,472-square-foot clubhouse is the first building to debut at the $47.8 million development. The opening celebration featured tours of the amenity spaces, including a fitness center, movie theater, salon, game room and lounge. The community features 182 units in a mix of one- and two-bedroom apartments.

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsCompany NewsNews

Furniture Company Henricksen Acquires Synergy Business Environments

by Jeff Shaw

ITASCA, Ill. — Henricksen, an Itasca-based contract furniture dealership specializing in office, healthcare, education, government, senior living and hospitality spaces, has acquired Synergy Business Environments. The acquisition will combine the companies’ strengths, product and industry knowledge, and commitment to client service to expand Henricksen’s presence. Synergy Business Environments has officially changed its name to Synergy, A Henricksen Company. Synergy Business Environments is a full-service contract furniture and architectural solutions company with offices in Nashville, Knoxville and Chattanooga, Tennessee. Synergy Business Environments and Henricksen share key manufacturer partnerships, including HNI, OFS, …

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingColoradoDevelopmentNews

TWG Plans $15.2M Residences at Delta Affordable Community in Colorado

by Jeff Shaw

DELTA, Colo. — TWG has unveiled plans for Residences at Delta, a $15.2 million affordable multifamily complex for seniors. Residences at Delta will be a two-story, 50-unit complex near Mountain View Park and Sweitzer Lake State Park. The project offers one-bedroom apartments reserved for seniors 62 years and older who earn up to 60 percent of the area median income (AMI). Constructed in partnership with Delta Housing Authority, the project seeks to bridge the generational gap between seniors, their families and youth in the community. Construction of the project is …

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingArizonaFinanceNews

Berkadia Arranges $92.8M in Financing for Affordable Senior Living Portfolio in Arizona

by Jeff Shaw

TUCSON, MESA and PHOENIX, Ariz. — Berkadia has secured a cross-collateralized pool financing on behalf of Arizona-based Christian Care Cos.’ Fellowship Square affordable senior living portfolio in Arizona. The 10-year, $92.8 million loan pool features a 65 percent loan-to-value ratio and three years of interest-only payments. Steve Ervin, Richard Price, Chris Cain and Rafael Nobo of Berkadia collaborated to secure the Freddie Mac permanent refinancing for the borrower. Nearly $89 million in high-interest-rate, first lien, tax-exempt bonds were redeemed with proceeds from the financing. The portfolio includes: Fellowship Square Tucson, …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsNewsSkilled NursingTexas

CareTrust Acquires 155-Bed Ennis Care Center in Texas

by Jeff Shaw

ENNIS, Texas — CareTrust REIT Inc. (NASDAQ: CTRE) has acquired Ennis Care Center in the Dallas-Fort Worth Metroplex city of Ennis. The price was not disclosed. The 155-bed skilled nursing facility will be added to CareTrust’s existing master lease with affiliates of Eduro Healthcare, which took over operations on Feb. 1. The acquisition of the Ennis Facility increases CareTrust’s relationship with Eduro to nine facilities and increases annual rent under the Eduro master lease by $815,000. The initial term of Eduro’s master lease with CareTrust was also extended by four …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsNewsOhioSkilled Nursing

ESI Brokers Sale of 180-Bed Skilled Nursing Community in Ohio for $10.8M

by Jeff Shaw

OHIO —­ Evans Senior Investments (ESI) has arranged the sale of a 180-bed skilled nursing community in Ohio for $10.8 million, or $60,000 price per bed. Built in 1965 with a $220,000 renovation in 2019, the community has nine private units with the rest being semi-private occupancy. In fiscal 2019, the community posted $10.3 million in total revenue and 72 percent occupancy. Despite the large revenue generation, the community did not reach industry standard net operating income margins of 12 to 15 percent due to the below-average Medicaid rate and …

Continue Reading
0 FacebookTwitterLinkedinEmail
NewsPeople

LCS Promotes Dan Lahey to Chief Investment Officer

by Jeff Shaw

DES MOINES, Iowa — LCS, a Des Moines-based senior living operator, has promoted Dan Lahey to the role of executive vice president and chief investment officer. In his new role, Lahey will join the executive leadership team and oversee the LCS real estate strategy including acquisitions, development capital and debt placement. “Dan’s leadership has been instrumental to the growth of the LCS Real Estate team and accelerated our key capital relationships and ownership interests in both Life Plan and Rental Communities,” says Joel Nelson, LCS president and CEO. “Dan has …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentNewsTexas

LifeCare Properties, ERG Enterprises Plan 100,000 SF The Blake at Lubbock in Texas

by Jeff Shaw

LUBBOCK, Texas — LifeCare Properties and New Orleans-based investment group ERG Enterprises have unveiled plans for The Blake at Lubbock, a seniors housing community in Lubbock. The 100,000-square-foot community is scheduled to open in 2023. Blake Management Group will operate the property upon completion. The development cost and number of units were not disclosed. LifeCare Properties is the developer of the assisted living and memory care community. Known as “Hub City,” the city of Lubbock is recognized as being the economic, educational and healthcare hub of a multi-county region, according …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAssisted LivingNebraskaNews

Lloyd Jones Buys 89-Unit Woodlands at Hillcrest in Lincoln, Nebraska

by Jeff Shaw

LINCOLN, Neb. — Real estate investment firm Lloyd Jones has acquired Woodlands at Hillcrest, an 89-unit, 107-bed seniors housing community in Lincoln. The seller and price were not disclosed. Built in 2018, the community is located within 10 miles of four hospitals, six shopping centers, two malls and the Lincoln Airport. Lloyd Jones Senior Living, the firm’s senior housing management division, will operate the community under its new name, AVIVA Woodlands. AVIVA is Lloyd Jones’ collection of senior living assets consisting of new, ground-up developments and recently constructed communities. While …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts