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Watercrest Senior Living Group Promotes Jessica Desjarlais to Talent Acquisition Specialist

by Jeff Shaw

VERO BEACH, Fla. — Watercrest Senior Living Group, a Vero Beach-based operator, has promoted Jessica Desjarlais to talent acquisition specialist, less than two years after her latest promotion to family office manager in August 2019. Desjarlais joined Watercrest in early 2018 as concierge at Watercrest St. Lucie West Assisted Living and Memory Care in St. Lucie. In her previous role, she also supported human resources in recruitment, administration and onboarding, while leading local job fairs. In her new role, Desjarlais will assist in attracting and recruiting new talent and prospective …

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CCRCDevelopmentFinanceNewsNorth Carolina

Ziegler Arranges $44.4M Bond Financing for The Forest at Duke in Durham, North Carolina

by Jeff Shaw

DURHAM, N.C. — Ziegler has arranged $44.4 million in bond financing for The Forest at Duke, a 47-acre continuing care retirement community just south of Duke University in Durham. The Forest at Duke opened in 1992 and currently serves over 360 residents across 154 apartments, 88 cottages (242 total independent living units), 34 assisted living units and 58 licensed skilled nursing beds. Proceeds of the bonds will be used for a renovation project that will include 90 new units (32 assisted living and 58 skilled nursing) in a “small house” …

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Affordable HousingDevelopmentNew YorkNews

JLL Negotiates Sale of Development Site in Queens for $31.7M

by Jeff Shaw

NEW YORK CITY — JLL Capital Markets has arranged the $31.7 million sale of a 57,035-square-foot lot at 70-35 113th Street in Forest Hill, Queens, with plans for two multi-housing development projects totaling 318,238 square feet. JLL worked on behalf of the seller, Jasper Venture Group. The buyer was a partnership between Top Rock Holdings, RJ Capital Group and SYU Properties. The proposed project encompasses a 235,679 square-foot market-rate multifamily development, in addition to an 82,559 square-foot affordable senior living development. A recent survey by JLL revealed that, after a …

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AcquisitionsCCRCNewsPennsylvania

SLIB Brokers Sale of 168-Bed St. Mary’s East in Erie, Pennsylvania

by Jeff Shaw

ERIE, Pa. — Senior Living Investment Brokerage (SLIB) has arranged the sale of St. Mary’s East, a continuing care retirement community in Erie. The original building was constructed in 1929 and the campus underwent several additions and renovations with the last project completed in 2010. It features 139 skilled nursing beds and 29 units / 58 beds of residential and personal care. The seller was a local nonprofit looking to focus on its other campus, which is a true entry fee CCRC model. The buyer and price were not disclosed.

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NewsPeople

Argentum Elects Five to Board of Directors

by Jeff Shaw

ALEXANDRIA, Va. — Argentum has elected five new directors to serve on the Argentum Board of Directors. Each assumed their official roles on the board as of June 3. New directors include: Cindy Baier, president and CEO, Brookdale; Jack Callison, CEO, Sunrise Senior Living; Tana Gall, president, Merrill Gardens; Mary Ellen Pisanelli, senior vice president, legal and administration, Welltower Inc.; and Aaron Webb, CEO, CHI Living Communities. “These welcome additions to the board bring experience and knowledge that will help provide valuable direction,” says Pat Mulloy, Argentum Board of Directors …

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NewsPeople

Watercrest Senior Living Group Hires Sebastien Watteau as Area Director of Culinary Operations

by Jeff Shaw

VERO BEACH, Fla. — Watercrest Senior Living Group, a Vero Beach-based operator, has hired Sebastian Watteau to a newly created role as area director of culinary operations. Watteau joins the Watercrest leadership team with a background ranging from luxury hotels to the White House. Born in the Loire Valley of France and raised in Mexico, Watteau was introduced to culinary fusions at a young age, where he discovered his passion for the industry. Following hospitality training in Spain, and military service in France, Watteau returned to the U.S. for advanced …

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AcquisitionsCaliforniaNevadaNews

Harrison Street Agrees to Acquire 24 Seniors Housing Assets, Sell 14 Medical Office Properties for $1.6B

by Jeff Shaw

CHICAGO — Chicago-based Harrison Street has entered into a series of transactions under which the company agreed to purchase 24 seniors housing assets and sell 14 medical office properties for a total transaction volume of approximately $1.6 billion. The 24 Class A seniors housing properties comprise 2,195 assisted living and memory care units across California and Nevada. The purchase price was roughly $1.2 billion. Healthpeak Properties Inc. was the seller of 12 communities, while Gallaher Cos. was the seller of the other 12 properties. Oakmont Management Group operates all 24 …

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FeaturesNews

Brookdale Occupancy Rises, Showing Signs of Pandemic Recovery

by Jeff Shaw

NASHVILLE, Tenn. — Brookdale Senior Living Inc. (NYSE: BKD) has reported that occupancy across its portfolio has increased for three straight months, signaling a start to the recovery from the COVID-19 pandemic. Occupancy at the end of each month rose from 70.1 percent in February to 70.6 percent in March, 71.1 percent in April and 71.6 percent in May. The Nashville-based company managed 695 communities in 42 states as of March 31.

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AcquisitionsIllinoisNewsOhio

Pathway to Living, Welltower Acquire 22-Property Portfolio in Illinois, Ohio

by Jeff Shaw

TOLEDO, Ohio, and CHICAGO — Pathway to Living, the seniors housing platform of Chicago-based real estate investor and operator Waterton, has partnered with giant healthcare giant Welltower (NYSE: WELL) to manage and modernize a 22-property seniors housing portfolio across Illinois and Ohio. Pathway to Living will operate the communities, which Toledo-based Welltower will own. The portfolio totals 1,105 units. “This new alliance with Welltower, the industry’s leading healthcare real estate entity, is a testament to our reputation as a specialist in middle-market senior housing operations,” says Jerry Finis, CEO of …

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AcquisitionsMassachusettsNewsSkilled Nursing

Cushman & Wakefield Brokers Sale of 135-Bed Skilled Nursing Facility on Cape Cod

by Jeff Shaw

HARWICH, Mass. — Cushman & Wakefield has brokered the sale of Wingate at Harwich, a 135-bed skilled nursing facility located in the Cape Cod city of Harwich. Richard Swartz, Jay Wagner, Dan Baker and Jack Griffin of Cushman & Wakefield represented the seller, an undisclosed institutional investor that is exiting the skilled nursing space, in the transaction. The buyer, a regional operator, plans to upgrade the community.

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