Monday, May 19, 2025
Read the Magazine Subscribe

News

Company NewsNews

Merrill Gardens Launches Middle-Market Truewood Brand

by Jeff Shaw

SEATTLE — Merrill Gardens, a Seattle-based owner-operator has launched a new brand aimed at middle-market seniors named Truewood by Merrill. As the roll out continues over the coming months there will be 23 Truewood communities located in 13 states. The Truewood by Merrill communities are former Blue Harbor communities that Merrill purchased in 2019 in a joint venture with ReNew REIT. The main changes in the communities are in operations, with the new brand designed for seniors whose annual income ranges from $40,000 to $50,000. Monthly rental rates for Truewood …

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceNews

Dwight Capital Closes $121.6M in Healthcare Financings in First Quarter

by Jeff Shaw

NEW YORK CITY — Dwight Capital, a New York-based real estate finance and investment firm, provided $121.6 million in healthcare financings during first-quarter 2021. Dwight closed a $21.3 million HUD loan for Avantara Long Grove, a 195-bed skilled nursing facility located in Long Grove, Illinois. The property was renovated in 2016. Adam Offman originated this transaction. Offman and Adam Sasouness also originated a $20.2 million HUD loan for the Northwood Portfolio, a 332-bed, six-asset skilled nursing portfolio located across Ohio. The transaction refinances debt on Northwood Buckeye Terrace, Country Meadow …

Continue Reading
0 FacebookTwitterLinkedinEmail
NewsOperationsPeople

Cadence Living Hires Randi Cohen as Vice President of Media and Marketing

by Jeff Shaw

SCOTTSDALE, Ariz. — Cadence Living, a Scottsdale-based operator, has hired Randi Cohen as vice president of media and marketing. Cohen will have principal responsibility for all media and marketing strategy of Cadence’s growing portfolio of senior living communities. Cohen brings over 20 years of marketing experience with the last seven years devoted to healthcare and senior living. Her expertise includes brand strategy and creating growth through omni-channel marketing. Before joining Cadence, Cohen worked at Pasadena, California-based Regency Park Senior Living where she was responsible for all aspects of the company’s …

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentNewsWashington, D.C

DHCD Provides Construction Financing for 54-Unit Affordable Seniors Housing Project in D.C.

by Jeff Shaw

WASHINGTON, D.C. — The Department of Housing and Community Development (DHCD) has provided financing from local and federal resources to develop 54 affordable housing units in Ward 4 at the Abrams Hall Senior Apartments in Washington, D.C. Abrams Hall Senior LP, a joint venture between Urban Atlantic and nonprofit organization Housing Up, received $2.4 million from the District’s Housing Production Trust Fund (HPTF) to develop the assisted living facility. The project also received a $1.1 million allocation of 9 percent Low-Income Housing Tax Credits (LIHTC) from DHCD. The project will …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsIndependent LivingNewsOperationsTexas

True Connection Communities to Operate 156-Unit Skye Luxury Senior Living Near Austin, Texas

by Jeff Shaw

LEANDER, Texas — True Connection Communities (TCC) has expanded its operating platform with the addition of Skye Luxury Senior Living, a 156-apartment independent living community in Leander, a northwestern suburb of Austin. A value-add opportunity, TCC plans to upgrade the nearly four-year-old community by improving design elements in select apartments, modifying the dining room to accommodate more dining tables, and enhancing the pool deck to create a more inviting space for residents. The community will be rebranded as Verena at Leander. True Connection Communities operates a portfolio of 13 active …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company NewsNewsPeople

Buckner Retirement Services Promotes Charlie Wilson to President

by Jeff Shaw

DALLAS — Buckner Retirement Services, a Dallas-based nonprofit operator, is implementing a series of leadership promotions as part of a long-term strategic plan. The first was for Charlie Wilson, who was promoted from senior vice president to president. Wilson started at Buckner 21 years ago as the director of quality improvement and regulatory compliance. Under his leadership, the nonprofit provider doubled in size, opening two new communities and acquiring a third. Albert Reyes, president/CEO of the parent company Buckner International, retains the chief executive officer role for the retirement division. …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsFloridaNews

Capital Square 1031 Buys Foxwood Village Manufactured Housing Community in Lakeland, Florida

by Jeff Shaw

LAKELAND, Fla. — Capital Square 1031 has acquired Foxwood Village, a manufactured housing community for those over age 55 in Lakeland, located between Tampa and Orlando. To date, Capital Square has acquired six age-restricted manufactured housing communities in coastal Florida markets for tax-advantaged real estate investment offerings. “Age-restricted manufactured housing communities in Florida are among the safest assets in the nation,” says Louis Rogers, founder and chief executive officer of Capital Square. “Due to exceptionally strong rent growth and little to no vacancy, they are an excellent hedge against inflation.” …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company NewsNews

Five Star Restructures Management Agreements with DHC, Plans to Exit Skilled Nursing Sector

by Jeff Shaw

NEWTON, Mass. — Five Star Senior Living Inc. (NASDAQ: FVE) has unveiled a new strategic plan to reposition its senior living management business to focus on larger independent living, assisted living and memory care communities, as well as standalone active adult and independent living communities. As part of the implementation of this new plan, Five Star is amending its management arrangements with Diversified Healthcare Trust (NASDAQ: DHC) to allow for the transition of 108 smaller senior living communities with approximately 7,500 living units, which Five Star currently manages for DHC, …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentNewsTennessee

Bridgewood Acquires Land in Nashville, Plans to Develop Luxury Seniors Housing Community

by Jeff Shaw

NASHVILLE, Tenn. — Bridgewood Property Co., a Houston-based developer of senior living properties, has acquired land in Nashville for the development of a mid-rise, luxury retirement community. With guidance and input from zoning counsel; Tune, Entrekin & White PC; the Metropolitan Planning Department; and local neighborhood groups, the property received zoning approval in February 2021 to build 205 senior living units within a 12-story facility. The new Bridgewood community in the city’s Green Hills neighborhood will offer independent living, assisted living and memory care residences and will be located close …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAlabamaAssisted LivingIndependent LivingNews

Blueprint Arranges Sale of 55-Unit Community in Birmingham, Alabama

by Jeff Shaw

BIRMINGHAM, Ala. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 55-unit independent living and assisted living community in Birmingham The Alabama-based developer purchased the existing assisted living community in 2016 and completed a full renovation, as well as the addition of new units. Further, ownership built a new, three-story independent living community on-site to complement the existing assisted living community. Inspired Healthcare Capital bought the property for an undisclosed price. The new owner plans to retain the existing operator.

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts