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LCS Promotes Zane Bennett to Director of Business Development

by Jeff Shaw

DES MOINES, Iowa — LCS, a Des Moines-based developer, owner and operator, has promoted Zane Bennett to director of business development. He joins Joe Weisenburger and Ross Nichols, two recent additions to the company’s business development team. Bennett starts his new role on Oct. 1 and will work with Weisenburger to grow top-line revenue for Life Care Services, the management business line in the LCS Family of Companies. Most recently, Bennett served as executive director for Plantation Village in Wilmington, North Carolina. Under his leadership, the organization has grown its …

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CaliforniaDevelopmentNews

Urban Catalyst Purchases Final Plot for Delmas Senior Living Center in Downtown San Jose

by Jeff Shaw

SAN JOSE, Calif. — Urban Catalyst, a Silicon Valley-based Opportunity Zone Fund, has acquired the final parcels of property for its Delmas Senior Living project, the first seniors housing project to be built in downtown San Jose in decades. The six-story, 175,000-square-foot property will feature a mix of studios, one- and two-bedroom assisted living units, along with memory care studios. It will house 165 units, with 49 of them dedicated memory care units. Delmas, located in Downtown West, is in its final rounds of comments with the City of San …

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AcquisitionsAssisted LivingIllinoisNews

Tutera Acquires The Lodge at Manito in Illinois

by Jeff Shaw

MANITO, Ill. — Tutera Senior Living & Health Care, a Kansas City-based senior healthcare provider, has purchased The Lodge at Manito in the small, Central Illinois village of Manito. Located on eight acres, the community provides assisted living and memory care services — the first and only dedicated memory care community in the Manito area. The community opened in 2017 by the Mason County Health Department, which was the first of its kind in the state. Tutera and the health department will have a collaborative relationship that will benefit the …

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CaliforniaFinanceKentuckyNews

Capital Funding Group Arranges $40.4M Bridge Loan for Two-Property Skilled Nursing Acquisition

by Jeff Shaw

CALIFORNIA and KENTUCKY — Capital Funding Group has arranged $40.4 million in bridge-to-HUD financing for the acquisition of two skilled nursing facilities. The facilities, which are located in California and Kentucky, feature 270 beds. The borrower previously operated these facilities, and through this transaction was able to purchase the real estate. Patrick McGovern and Tommy Dillon originated the transaction for Capital Funding Group.

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AlabamaNewsOperations

Phoenix Senior Living Assumes Management of Autumn Cove Assisted Living in Anniston, Alabama

by Jeff Shaw

ANNISTON, Ala. — Phoenix Senior Living has assumed management of Autumn Cove Assisted Living, located in Anniston, approximately midway between Birmingham and Atlanta. Phoenix Senior Living, founded in 2014, is a privately held senior living operator with over 30 communities throughout the southeast. Autumn Cove Assisted Living will add to the growing Alabama senior living holdings by Phoenix.

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ArizonaDevelopmentIndependent LivingNews

Spellman Brady Completes Expansion at Sagewood Community in Phoenix

by Jeff Shaw

PHOENIX — Spellman Brady & Co. has completed the expansion and renovation of Sagewood Senior Living in Phoenix for Life Care Services. Renovations included a four-story, 101-unit independent living building with an underground parking garage. The 276,454-square-foot building features one and two-bedroom apartments with den layouts and patio views. The project also provided activity and game rooms, an art studio, putting course, café, formal dining, an indoor-outdoor tapas bar and lounge.

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FeaturesNews

Survey: Only 25 Percent of Nursing Homes Confident They Will Survive to Next Year

by Jeff Shaw

WASHINGTON, D.C. — The American Health Care Association and National Center for Assisted Living (AHCA/NCAL), a D.C.-based organization representing more than 14,000 nursing homes, assisted living communities and other long-term care facilities across the country, has released a survey that shows only a quarter of communities are confident they can last another year. More than half of nursing homes and nearly half of assisted living communities say their organization is operating at a loss, the survey found. More than half of nursing homes and more than one-third of assisted living …

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CaliforniaDevelopmentNews

Clearwater Opens Model Apartment at Community Under Construction in North Tustin, California

by Jeff Shaw

NORTH TUSTIN, Calif. — Clearwater Living has opened a model apartment at Clearwater at North Tustin, an assisted living and memory care community under construction in the Orange County municipality of North Tustin. Clearwater at North Tustin will offer 110 assisted living and memory support apartments with both private and semi-private living options. A timeline for completion was not released.

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AcquisitionsFinanceNewsSkilled NursingTexas

Oxford Finance Provides $27.5M Credit Facility to Cascades Healthcare for Four-Property Acquisition

by Jeff Shaw

TEXAS — Oxford Finance LLC (“Oxford”) has provided a $27.5 million senior credit facility to Cascades Healthcare, an owner and operator of long-term care facilities. The funds were used for the acquisition of four skilled nursing facilities located in Texas featuring 647 licensed beds. Cascades Healthcare was founded in 2016 to build and coordinate a network of associated senior care. The company currently operates 19 skilled nursing facilities in Utah, Idaho and Texas, as well as providing operational support to three home health and hospice companies and managing a multi-state …

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NewsOperationsTexas

SilverPoint Senior Living to Operate Titan Development’s Élan Corpus Christi in Texas

by Jeff Shaw

CORPUS CHRISTI, Texas — SilverPoint Senior Living has partnered with Titan Development to assume operations of Élan Corpus Christi, a 113-unit luxury senior living community located in Corpus Christi. “Élan Corpus Christi is an absolutely beautiful community that reflects the amazing coastline setting of Corpus Christi,” says Shawn Corzine, CEO at SilverPoint Senior Living.

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