NEWTON, Mass. — Diversified Healthcare Trust (Nasdaq: DHC) has entered into agreements with AlerisLife Inc. and seven different operators to transition the management of 116 of DHC’s senior living communities managed by Five Star Senior Living, the operating division of AlerisLife. The transition of these management agreements will occur in tranches beginning this month (September) and is expected to be completed by year’s end. AlerisLife is also selling all its assets, including its 17 owned communities, and expects to complete a full wind-down of its business and operations in the …
MONTGOMERY, Texas — A joint venture between Edison Equity Residential and ARCTRUST has announced plans to develop a 165-unit active adult community in Montgomery, located about 55 miles northwest of Houston. Construction began in August, with the first move-ins scheduled to begin in November 2026. The community will be situated within the larger Woodforest master-planned development. Upon completion, Serenova at Woodforest will feature 133 one- and two-bedroom apartments and 32 private villas for residents age 55 and older. Designed as a “concierge community,” Serenova at Woodforest will also offer personal assistance …
BOSTON — Phoenix3 Holdings, a collection of boutique culinary and hospitality solutions companies, has announced that it is rebranding and transitioning to Phoenix3 Collective. The company operates dining and hospitality programs within the senior living sector. Additionally, Phoenix3 has acquired Quality Culinary Solutions (QCS), an advisory firm dedicated to transforming dining operations within self-operated seniors housing communities. Phoenix3’s full suite now includes seven brands — Innovative Hospitality Solutions, Centicor Procurement Services, CrossCheck Quality Assurance, Culinour, Infuse Hospitality, QCS and Restaura, a dining management company for seniors housing communities.
ROCK HILL, S.C. — Nonprofit owner and operator Acts Retirement-Life Communities has announced plans for the expansion of Park Pointe Village in Rock Hill. Upon completion, the project will add 130 new independent living units, including both apartments and carriage homes, as well as 20 assisted living suites and a memory care neighborhood. In addition, Acts plans to develop an 18,000-square-foot clubhouse as part of the expansion. Plans also feature new indoor and outdoor amenities, including walking trails, pickleball courts and new restaurants and gathering spaces. Acts currently manages 28 senior …
ATLANTA — The seniors housing sector stands at a “curious” crossroads in terms of the current real estate cycle, according to Chris Guay, CEO of Vitality Living. The Brentwood, Tennessee-based company is a seniors housing owner-operator with communities located across the Southeast and Texas. Guay asserts that on one hand, seniors housing owners and operators are still healing from the supply-and-demand shocks stemming from the COVID-19 pandemic. On the other, the sector is standing on the precipice of the prophesied “silver tsunami,” a phenomenon wherein the baby boomer generation is …
GAINESVILLE, Fla. — Nonprofit developer National CORE has received $19.5 million in construction financing to fund the development of Hawthorne Heights, a new affordable seniors housing project in Gainesville. KeyBank Community Development Lending and Investment provided a $13 million loan and secured a $6.5 million Freddie Mac permanent loan on behalf of the borrower. National CORE received additional funding from Red Stone, which provided low-income housing tax credit equity and bonds from the Florida Housing Finance Corp., for the project. The project also qualifies for real estate tax abatement. Upon completion, …
FREEHOLD, N.J. — Senior living management and consulting firm Distinctive Living has established a new business intelligence team. Distinctive Living recently ranked as No. 36 in the 2025 ASHA 50 list of the largest U.S. seniors housing operators. Under the leadership of executive vice president and CFO Lindsey Hacker, the business intelligence team integrates insights from data to inform operations, sales and marketing decisions. “Our strategic focus on data analytics aligns with the expectations of our capital partners for agile and informed management solutions,” says Joe Jedlowski, chairman and CEO of Distinctive Living. …
NEW YORK CITY — MonticelloAM has provided $152 million in financing for a skilled nursing portfolio located across North Carolina. The financing includes $142 million in bridge debt, which carries a 36-month initial term with two extension options, for the acquisition of the portfolio. Totaling 1,100 licensed beds, the portfolio comprises nine skilled nursing facilities. Additionally, MonticelloAM has provided a $10 million working capital line of credit to support daily operational needs at the facilities. The borrower was not disclosed.
SANDY, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Mount Hood Senior Living, a vacant 44-unit assisted living and memory care community located in Sandy, roughly 30 miles southeast of Portland. Totaling 26,000 square feet, the property was updated in 2022. A local operator acquired the community, which it plans to reopen. Jason Punzel, Vince Viverito, Brad Goodsell, Jake Anderson and Taylor Graham of SLIB brokered the transaction.
CHICAGO — Investment management firm Harrison Street Asset Management has sold a portfolio of seniors housing communities located in the state of New York for more than $600 million. The buyer was not disclosed, but multiple media outlets report the buyer was senior living giant Ventas Inc. (NYSE: VTR). The portfolio comprises five communities. Harrison Street developed the properties in partnership with B2K Development between 2016 and 2022. Amenities at the communities include swimming pools, theaters, fitness centers, libraries and lifestyle programming. “This transaction exemplifies Harrison Street’s ability to produce value by …