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CaliforniaDevelopmentMemory CareNews

Advocacy Development Partners, Frontier Management Open Memory Care Community in San Dimas, California

by Jeff Shaw

SAN DIMAS, Calif. — Advocacy Development Partners and Frontier Management have opened The Terraces of Via Verde, a memory care community in San Dimas, approximately 25 miles east of Los Angeles. Totaling 32 units on 1.2 acres, the developers claim the property to be the first memory care-only community in San Dimas. The location is near Via Verde Park and Via Verde Plaza, a grocery-anchored shopping plaza. The asset is separated into two separate, secured, 15,000-square-foot neighborhoods with 16 units each.

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CCRCDevelopmentLouisianaNews

HJ Sims Arranges $23.3M Financing for Poydras Home CCRC Renovations in New Orleans

by Jeff Shaw

NEW ORLEANS — HJ Sims has arranged $23.3 million in financing for Poydras Home, a continuing care retirement community (CCRC) in New Orleans. Opened in 1857, Poydras now consists of 10 independent living units, 22 assisted living units, 11 memory care units and 64 private nursing care beds. The community will replace all 64 nursing units with a small-house model and add 14 new assisted living units across two three-story buildings. Poydras will be the first certified Green House project in Louisiana, featuring an model of care where the resident’s …

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AcquisitionsAssisted LivingFloridaNews

SLIB Negotiates Sale of 64-Unit Cottages of Bradenton in Florida

by Jeff Shaw

BRADENTON, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Cottages of Bradenton, a 64-unit assisted living and memory care community in Bradenton. The seller was a local partnership looking to exit the industry. The buyer was a private partnership in the Northeast looking to expand its Florida portfolio. The price was not disclosed. Bradley Clousing of SLIB negotiated the transaction.

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NewsPeople

Pathway to Living Hires Justin Dickinson as Senior Vice President of Investments

by Jeff Shaw

CHICAGO — Waterton, a national real estate investor and operator, has hired Justin Dickinson as senior vice president of investments for Pathway to Living, the seniors housing arm of the Chicago-based firm. Dickinson will oversee the overall investment strategy for Pathway to Living, including acquisitions, dispositions and fundraising for all seniors housing transactions. He will also oversee ground-up development activity for Pathway to Living and will develop investment strategies on a national scale. Prior to joining Waterton, Dickinson was senior vice president of acquisitions/investments for Anthology Senior Living, the senior …

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Affordable HousingDevelopmentNewsTexas

Volunteers of America to Develop The Oaks Affordable Community in Dallas

by Jeff Shaw

DALLAS — Volunteers of America National Services (VOANS) has been selected by DHA Housing Solutions for North Texas to develop The Oaks, a mixed-income affordable seniors housing community in Dallas. The project is slated for completion in 2023. The community will feature 260 units for residents age 62 or older. VOANS is the wholly controlled nonprofit subsidiary of Volunteers of America created as the sponsor and parent entity for new Volunteers of America housing development projects.

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AcquisitionsArizonaNewsSkilled Nursing

Blueprint Brokers Sale of 94-Unit Community in Phoenix

by Jeff Shaw

PHOENIX — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 94-unit skilled nursing facility in Phoenix. The 94-unit vacant facility was originally developed by Mainstreet in 2017 and designed to be operated as an assisted living and transitional care facility. However, the property was foreclosed on and as a result was never operational. The property is strategically located just 0.2 miles from Banner Estrella Medical Center as well as two other major hospitals within an eight-mile radius. The buyer, seller and price were not disclosed.

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NewsPeople

Sunrise Senior Living Appoints New Chief Operating Officer, Chief Financial Officer

by Jeff Shaw

MCLEAN, Va. — Sunrise Senior Living, a McLean-based provider of senior living services, has appointed Nick Stengle as chief operating officer (COO) and Tavinder Hare as chief financial officer (CFO). Stengle brings more than 20 years of executive experience in growth strategy development, global operations and leading major organizational initiatives to Sunrise. Most recently, he served as chief operating officer of Kindred at Home, the largest home health provider in the U.S., where he supported a team of over 30,000 associates as they delivered care to more than 100,000 patients. …

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AcquisitionsAssisted LivingNewsOregon

SLIB Negotiates Sale of 27-Unit Canyon Rim Community in Maupin, Oregon

by Jeff Shaw

MAUPIN, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Canyon Rim, a 27-unit assisted living community in Maupin, approximately 100 miles southeast of Portland. The community was built in 2005. It totals approximately 18,652 square feet on approximately 3.6 acres of land. The seller was a regional owner-operator that is now focusing on larger communities in major West Coast metropolitan areas. The buyer is a regional owner-operator out of Idaho that focuses on smaller communities. The price was not disclosed. Jason Punzel, Brad Goodsell and Vince …

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CCRCFinanceNewsPennsylvania

HJ Sims Arranges $47.6M Financing for Two Asbury Communities CCRCs in Pennsylvania

by Jeff Shaw

ERIE and MECHANICSBURG, Pa. — HJ Sims hass arranged $47.6 million in financing for Asbury Communities Inc. The loans support two life plan communities — Bethany Village Retirement Center in Mechanicsburg and Springhill in Erie. Bethany includes two campuses with 400 independent living units, 100 assisted living units, a 69-bed skilled nursing center and amenities. Springhill has 158 independent living and 35 personal care units, plus an 80-bed skilled nursing facility. The loans refinance bonds from 2012 and include a $20.4 million bank loan and tax-exempt, fixed-rate bonds totaling $27.2 …

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Company NewsNewsPeople

Sabra Health Care REIT CFO Harold Andrews to Retire, Michael Costa to Take Role

by Jeff Shaw

IRVINE, Calif. — Sabra Health Care REIT Inc. (NASDAQ: SBRA) has announced that Harold Andrews, executive vice president, chief financial officer and secretary, will retire at the end of the year. Michael Costa, Sabra’s executive vice president of finance and chief accounting officer will take over the role of CFO. Andrews will remain in a consulting role with Sabra pursuant to a two-year consulting. Sabra will also begin searching for a replacement for Costa’s current position with the goal of filling that role by year end.

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