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OnShift Survey: Workforce Shortage, Leadership Burnout Among Top Seniors Housing Challenges

by Jeff Shaw

CLEVELAND — In its third annual Workforce 360 Survey, Cleveland-based HR software company OnShift revealed workforce shortages to be the top challenge among senior care organizations. Responses came from more than 2,000 long-term care, senior living and healthcare professionals. Approximately 79 percent are most concerned with staffing shortages, overtaking last year’s top challenge of finding and hiring qualified candidates (currently 62 percent). Staffing shortages have had a direct impact on clinical and financial operations, as 35 percent of respondents indicated they have had to limit new admissions or move-ins. Nearly …

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AcquisitionsIndependent LivingIndianaNews

Sonida Senior Living Agrees to Acquire Two Communities Near Indianapolis for $12.3M

by Jeff Shaw

BROWNSBURG and PLAINFIELD, Ind. — Sonida Senior Living Inc. (NYSE: SNDA) has agreed to acquire two recently renovated seniors housing communities in metro Indianapolis for $12.3 million. Formerly known as Capital Senior Living, the Dallas-based owner-operator rebranded as Sonida in November and began trading under its new stock symbol. The communities, Northfield Senior Living in Brownsburg and Southfield Senior Living in Plainfield, total 157 independent living units and are located approximately 20 minutes outside of downtown Indianapolis. Sonida expects the acquisition to close in the first quarter of 2022. The …

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AcquisitionsNewsOhioSkilled Nursing

Blueprint Brokers Sale of Two Skilled Nursing Facilities Near Dayton, Ohio

by Jeff Shaw

DAYTON, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of two skilled nursing facilities north of Dayton. The two facilities were originally built in the 1990s and underwent considerable renovations since 2010. Further details on the property were not disclosed. A regional owner-operator sold the assets to an East Coast-based owner-operator making its first move into Ohio. The price was not disclosed.

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FinanceNewsOhio

Ziegler Arranges $24.5M Bond Financing for Otterbein SeniorLife

by Jeff Shaw

LEBANON, Ohio — Ziegler has arranged $24.5 million in bond financing for Otterbein SeniorLife, a nonprofit operator based in the Cincinnati suburb of Lebanon. The borrower’s portfolio totals 1,440 independent living units, 489 assisted living units and 1,020 skilled nursing units across nine SeniorLife communities and nine Neighborhood-branded skilled nursing communities. The bonds were issued through the State of Ohio, acting by and through the Ohio Higher Educational Facility Commission. In addition to these bonds, Ziegler also priced $20.5 million of tax-exempt, forward-delivery bonds that are scheduled to close on …

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AcquisitionsMassachusettsNews

Cushman & Wakefield Brokers Sale of Boston-Area Seniors Housing Campus

by Jeff Shaw

CHESTNUT HILL, Mass. — Cushman & Wakefield’s Senior Housing Capital Markets team has arranged the sale of Wingate Residences at Boylston Place, a 48-unit assisted living property, and Wingate at Chestnut Hill, a 135-bed skilled nursing facility. The two properties are located on a single campus in Chestnut Hill, a village just outside of Boston. The institutional seller was a pension fund investor that is exiting the senior living space. The buyer is a joint venture between Harrison Street, an institutional private equity firm, and LCB Senior Living, a regional …

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AcquisitionsMassachusettsNews

Blueprint Negotiates Sale of The Terraces Orleans on Cape Cod

by Jeff Shaw

ORLEANS, Mass. — Blueprint Healthcare Real Estate Advisors has arranged the sale of The Terraces Orleans, a 50-bed skilled nursing facility and 19-unit independent living community in Orleans, a town on Cape Cod. The property was built in 1968 and thoroughly renovated in 2000. The buyer was a Massachusetts-based operator looking to grow its regional presence with its first real estate acquisition. The seller and price were not disclosed.

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Active AdultDevelopmentFeaturesNews

The Future of Seniors Housing is All About Lifestyle, Say InterFace Panelists

by Jeff Shaw

PHILADELPHIA — Operators in the seniors housing industry have long been awaiting the incoming demographic wave of baby boomers reaching retirement age. Every day in the U.S., 10,000 people turn 65, and the number of older adults will more than double over the next several decades to top 88 million people and represent over 20 percent of the population by 2050. The oldest boomers are now 76. But this wave of customers will have very different desires than existing seniors housing residents, according to Tod Petty, chief operations officer at …

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CCRCDevelopmentNewsNorth Carolina

LCS Development Begins 44-Unit Expansion at Plantation Village in Wilmington, North Carolina

by Jeff Shaw

WILMINGTON, N.C. — LCS Development has started construction of an expansion at Plantation Village, a continuing care retirement community in Wilmington. The project will add 44 independent living units with covered parking, a new artisan studio, woodshop, dog park, cocktail bar, billiards room, more indoor and outdoor dining options, and expanded garden area for residents. A theater room, board room and creative arts room are also planned. Herbert J. Sims & Co. guided the financing of the project. Construction is scheduled for completion by May 2023. Project partners include CJMW …

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CaliforniaColoradoFinanceIowaNews

Monticello Provides $89M Refinancing for 1,188-Bed Portfolio in California, Colorado, Iowa

by Jeff Shaw

NEW YORK CITY — Monticello and its affiliates have provided $89 million in first-lien debt financing for the refinancing of 10 skilled nursing facilities and one assisted living facility. Totaling 1,188 beds, the portfolio is located in California, Colorado and Iowa. Further details were not disclosed.

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AcquisitionsCaliforniaNewsSkilled Nursing

JCH Brokers $6.4M Sale of Skilled Nursing Facility in Fresno, California

by Jeff Shaw

FRESNO, Calif. — JCH has arranged the sale of a skilled nursing facility in Fresno. An owner-operator sold the asset to a regional owner-operator for $6.4 million. The former tenant opted out of the property, and JCH also assisted in finding a new tenant. Cindy Hazzard and Jennifer Contreras of JCH handled the transaction process.

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