CHICAGO — Ventas Inc. (NYSE: VTR) and New Senior Investment Group Inc. (NYSE: SNR) have announced that New Senior stockholders have approved the previously announced merger agreement, under which Ventas will acquire New Senior as a subsidiary. Both companies are based in Chicago. The proposed $2.3 billion merger was announced in June. Approximately 99.8 percent of the votes cast were in favor of adoption of the merger. “We are pleased with the outcome of today’s special meeting and thank our stockholders for their support of the financially and strategically compelling …
MALVERN, Pa. — HMP Global, a Malvern-based healthcare event and education company, has acquired the annual Senior Living Executive Conference & Expo from Argentum, a national association supporting companies operating senior living communities. Financial terms of the agreement were not disclosed. Nearly 3,000 executives from 750 companies attend the annual. Participating companies represent decision-makers from for-profit and nonprofit operators, real estate investment trusts (REITs), private equity firms, capital providers, industry suppliers, media and academia. The 2022 event will resume its pre-COVID meeting pattern and take place May 16 to 18 …
LAKELAND, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 120-bed skilled nursing facility in Lakeland, located between Tampa and Orlando. The asset was de-licensed by the state in 2017 but was allowed to re-open in early 2020 to accommodate COVID residents. The operator was provided a new license and the seller, a publicly traded REIT, elected to divest of the asset as it was nearly vacant after the initial COVID wave subsided. SLIB represented the buyer, Mainstay Senior Living, which bought the adjacent assisted living …
CLEVELAND — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 120-bed skilled nursing facility near John Carroll University in Cleveland. The property was built in the 1960s and renovated in the 1990s The asset was strategically identified for disposition as it did not fit within the seller’s core operating model. The buyer was a private equity owner-operator based in New York City. The price was not disclosed.
WASHINGTON, D.C. — Maplewood Senior Living and Omega Healthcare Investors Inc. (NYSE: OHI) have unveiled plans to expand the Inspīr brand to the Washington D.C. market with the acquisition of The Fairfax Embassy Row. The historic hotel will be transformed and re-envisioned into Inspīr Embassy Row, an ultra-luxury senior living community. Inspῑr Embassy Row will be the second location under Maplewood’s Inspīr brand, and the first Washington D.C. property in the company’s portfolio. “We have taken careful consideration to identify locations where we can truly offer exceptional resident experiences that …
BALTIMORE — Capital Funding Group, a Baltimore-based lender, has provided a $262.6 million term loan to refinance a 29-asset long-term care portfolio. Spanning Colorado, California and Wyoming, the portfolio includes 28 skilled nursing facilities and one joint skilled nursing and assisted living facility, with a total of 3,140 beds. The borrower is a privately owned real estate investment group. Erik Howard and Director Tim Eberhardt originated the transaction for Capital Funding Group.
ALTUS, Okla. — Plains Commercial has arranged the sale of English Village Manor, a skilled nursing facility in Altus, approximately 150 miles southwest of Oklahoma City. Originally built in 1973, the facility is currently licensed for 128 beds in approximately 36,900 square feet of space. The seller is a regional owner-operator that decided to cull its portfolio and focus on facilities closer to the corporate office. The buyer is one of the largest skilled nursing operators in Oklahoma, with several other facilities in the area. Daniel Morris with Plains Commercial …
WINTER PARK, Fla. — Ziegler has arranged $80 million in bond financing for an expansion project at Mayflower Retirement Center, a continuing care retirement community in Winter Park, a suburb of Orlando. The community opened in 1989 is situated on approximately 37 acres and currently consists of 220 independent living apartments and 28 villas; 31 private assisted living units with 15 used for memory support services; 60 nursing beds; and associated common areas. The borrower is pursuing a two-phase repositioning of its campus. Phase I was financed in November of …
PHILADELPHIA — Spiezle Architectural Group has completed design work for the second phase of renovations at Cathedral Village, a senior living community in Philadelphia. The first phase began in 2014, and is scheduled for completion in 2022. The latest phase includes renovating all facades, walkways and outdoor amenity spaces to encourage outdoor living and leisure activities. “We have partnered with Presbyterian Senior Living to enhance the property with a more philosophical approach, engaging residents in campus planning sessions and throughout all design phases,” says Steven Leone, principal with the firm. …
NEWTON, Mass. — Diversified Healthcare Trust (NASDAQ: DHC) has entered into a new management agreement with Northstar Senior Living for five memory care communities and one assisted living community in California, and one assisted living community in Arizona, totaling 422 units. DHC has now entered into new management agreements representing approximately 84 percent of its seniors housing operating portfolio (SHOP) communities to be transitioned from Five Star Senior Living Inc. to other third-party operators, as previously announced. DHC expects to complete all the management transitions at the 108 communities by …