News

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.

Continue Reading
0 FacebookTwitterLinkedinEmail
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, …

Continue Reading
0 FacebookTwitterLinkedinEmail
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 …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsFloridaNewsOperations

Watermark Retirement Communities to Operate Merrill Gardens at ChampionsGate in Florida

by Jeff Shaw

CHAMPIONSGATE, Fla. — Watermark Retirement has taken over operations for Merrill Gardens at ChampionsGate, located approximately 25 miles southwest of downtown Orlando. The transition is part of a purchase agreement by Fortress Investment Group, which acquired the community in April. Under the agreement, Watermark will manage all aspects of the community’s operations including care, staffing and programming. The community has been renamed The Glades at ChampionsGate. The community offers 114 independent living, 73 assisted living and 36 memory care units.

Continue Reading
1 FacebookTwitterLinkedinEmail
AcquisitionsActive AdultNewsTexas

JLL Brokers Sale of 151-Unit ArborView Active Adult Community in Austin

by Jeff Shaw

AUSTIN, Texas — JLL Capital Markets has arranged the sale of ArborView, a 151-unit active adult community in Austin. JLL represented the seller, Cadence Multi-Family, in the sale of the property to Sparrow Partners. The buyers assumed the existing HUD financing on the project. The price was not disclosed. Opened in 2021, ArborView is located in Greyrock Ridge within the Circle C Ranch master-planned community in southwest Austin. Development of Circle C Ranch began in 1982 and today the community includes over 6,400 homes. Neighborhood amenities include an 18-hole golf …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsNewsSkilled NursingTexas

Blueprint Negotiates $52M Sale of Four-Property Portfolio in Texas

by Jeff Shaw

DALLAS, AUSTIN, SAN ANTONIO and HOUSTON, Texas — Blueprint Healthcare Real Estate Advisors has brokered the sale of four seniors housing communities in the Texas markets of Dallas, Austin, San Antonio and Houston. The price was $52 million, or $153,000 per bed. The buyer and seller were not disclosed. The portfolio totals 315 skilled nursing beds and 24 assisted living beds. All facilities were constructed between 2017 and 2018, average a five-Star CMS rating and feature resort-style amenities with therapy and rehabilitation gyms. The portfolio was not stabilized, and while …

Continue Reading
0 FacebookTwitterLinkedinEmail
Assisted LivingFinanceNewsSouth Carolina

Lument Arranges $24.5M Bridge Loan for Seniors Housing Community in Charleston, South Carolina

by Jeff Shaw

CHARLESTON, S.C. — Lument has arranged a $24.5 million bridge loan to refinance construction debt for an assisted living and memory care community in Charleston. Kevin Oakley and Steve McGee led the transaction for Lument. The community opened during the pandemic, which caused the lease-up to proceed slower than anticipated. The bridge loan, placed with a national bank via Lument’s debt syndications group, refinanced high-cost construction debt that was nearing maturity and allowed the borrower time and flexibility to focus on operations. “Completing this refinance via the bridge loan resulted …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company NewsNewsPeople

Sonida Senior Living Names Kevin Detz as Chief Financial Officer

by Jeff Shaw

DALLAS — Sonida Senior Living Corp. (NYSE: SNDA), a Dallas-based owner-operator, has appointed Kevin Detz as chief financial officer. Detz joins Sonida from Aimbridge Hospitality, a third-party hotel management company. Over eight years at Aimbridge Hospitality, Detz served in multiple roles. From January 2020 to April 2022, Detz served as executive vice president and operational chief financial officer, where he was responsible for leading the company’s corporate and operational accounting and reporting functions. There, he transformed the company’s back-office services into a profitable professional services platform and reorganized the corporate …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAssisted LivingNewsNorth CarolinaOperations

Charter Senior Living to Operate Community in Charlotte, North Carolina

by Jeff Shaw

CHARLOTTE, N.C. — Charter Senior Living has taken over management of The Social at Cotswald in Charlotte, and has renamed the community Charter Senior Living of Charlotte. The asset offers assisted living and memory care services. The number of units was not disclosed. The change in management will increase the family of Charter Senior Living retirement communities to more than 40 throughout the United States.

Continue Reading
0 FacebookTwitterLinkedinEmail
Assisted LivingCaliforniaDevelopmentFinanceNews

JLL Arranges $16.3M Loan for Two Development Sites in Bay Area

by Jeff Shaw

LIVERMORE and SOQUEL, Calif. — JLL Capital Markets has arranged $16.3 million in acquisition financing for two land sites totaling 12.7 acres for the development of seniors housing communities in the Bay Area municipalities of Livermore and Soquel. JLL worked on behalf of the borrower, Calson Management, to secure the $10.5 million and $5.8 million one-year, fixed-rate loans through Barnett Capital Limited. The first site totals nine acres and will be developed into a 128-unit seniors housing community offering assisted living and memory care. The property is near local retail, …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts