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ER Senior Management CEO Chris Coates Announces Retirement, Brian Dowd to Take Reins

by Jeff Shaw

ABILENE, Texas — Chris Coates, president and CEO of Abilene-based ER Senior Management, has retired from his position. Coates will continue to be a principal and board member in the Evergreen Cos. going forward. Brian Dowd is to take over as CEO in addition to his current responsibilities as COO and CFO. “I have every confidence in Brian taking the reins from here and I look forward to seeing the continuous growth of ER Senior Management,” says Coates, who founded the senior living management company with Dowd in 2010. ER …

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DevelopmentIndependent LivingNewsTexas

Oldham Goodwin Opens Huntington at Lago Mar Independent Living Community in Texas City

by Jeff Shaw

TEXAS CITY, Texas — Oldham Goodwin Group has opened The Huntington at Lago Mar, an apartment community for seniors in Texas City, located southeast of Houston. The property features 148 independent living residences with easy access to major medical centers, airports, public beaches, parks, libraries, shopping and dining. Construction on The Huntington started in November 2019. Oldham Goodwin manages the property, the 13thmultifamily asset in its portfolio.

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AcquisitionsCompany NewsNews

Griffin-American Healthcare REIT III, IV to Merge, Acquire American Healthcare Investors

by Jeff Shaw

IRVINE, Calif. — Griffin-American Healthcare REIT III and Griffin-American Healthcare REIT IV have entered into a definitive merger agreement in a tax-free, stock-for-stock transaction that will create a combined company with a gross investment value of approximately $4.2 billion in healthcare real estate assets. Upon completion of the merger, the newly combined company, to be renamed American Healthcare REIT, will be the 11th largest healthcare-focused real estate investment trust globally, according to the companies. The combined company plans to acquire the business and operations of American Healthcare Investors, the co-sponsor …

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Company NewsNews

Seniors Housing Marketing Firm GlynnDevins Rebrands as Attane Following Acquisitions

by Jeff Shaw

KANSAS CITY, Mo. — GlynnDevins, a Kansas City-based marketing firm focused on senior living, healthcare and financial services, has officially rebranded as Attane. Since 2017, the company has experienced a rapid growth trajectory with a five-year average annual growth rate of 33 percent. In the past eight months, GlynnDevins acquired two marketing technology businesses — Linkmedia 360 in October 2020 and Bluespire in February 2021. Since those acquisitions, the company has integrated operations, solutions and marketing professionals from all three companies. “A tremendous amount of planning, analysis and effort has …

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ConnecticutFinanceM&T Realty Capital CorporationMassachusettsNewsOregon

M&T Provides $36M in Financing for Three Seniors Housing Communities

by Jeff Shaw

FARMINGTON, Conn., CHELSEA, Mass. and OREGON — The M&T Realty Capital Corp. (MTRCC) Seniors Housing Team has provided three financing transactions for seniors housing communities totaling $36 million. In the first transaction, M&T provided a $7.1 million FHA-insured loan for the refinance of a 73-unit assisted living facility located in Farmington. The loan was completed under the 232/223(a)(7) program. In the second transaction, M&T provided a $11.4 million bridge-to-HUD loan for the acquisition of a 95-unit assisted living and memory care community located in Southern Oregon. In the final transaction, …

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DevelopmentNewsPeople

LCS Development Promotes Four as Part of Growth Plan

by Jeff Shaw

DES MOINES, Iowa — LCS Development, the senior living development company of Des Moines-based LCS, is reorganizing the business line to accelerate its growth strategy and maximize its real estate and development experience. LCS hired Chuck Murphy last year to provide strategy and performance oversight of the LCS Development and LCS Real Estate business lines for parent company LCS. The following individuals have now been promoted to help to lead the effort: Tom Mathisen to senior vice president/managing director – development Jason Jorgenson to senior vice president/managing director – development …

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Affordable HousingDevelopmentFloridaNews

Swerdlow Group Breaks Ground on $300M Sawyer’s Walk Mixed-Use Development in Miami

by Jeff Shaw

MIAMI — Swerdlow Group has broken ground on Sawyer’s Walk, a 1.4 million-square-foot mixed-use development in Miami’s Overtown neighborhood that will include 250,000 square feet of retail space below 578 apartments designated for low-income seniors. Swerdlow Group is collaborating with the Southeast Overtown/Park West Community Redevelopment Agency (CRA) on the $300 million project. Swerdlow Group and its partners, Delray Beach, Fla.-based SJM Partners and Miami-based Alben Duffie, acquired the 3.4-acre property at 249 NW 6th St. from the Community Redevelopment Agency for $10 million. Construction is scheduled for completion in …

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DevelopmentIllinoisNews

Skender Breaks Ground on Redevelopment of 133,000 SF Senior Living Community Near Chicago

by Jeff Shaw

MAYWOOD, Ill. — Skender recently broke ground on the redevelopment of Maywood Supportive Living in Maywood, about 12 miles west of Chicago. When completed, the 133,000-square-foot, five-story supportive living facility will provide 100 housing units with substantial healthcare and nursing amenities. The existing property, which formerly housed the Central Baptist Home, was added to the State of Illinois’ National Register of Historic Places in 2017 and will be restored with the intention of preserving its historic detail. The existing building and grounds take up a full city block, and renovations …

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Active AdultDevelopmentGeorgiaNews

Capitol Seniors Housing Breaks Ground on 180-Unit Outlook at Exchange in Buford, Georgia

by Jeff Shaw

BUFORD, Ga. — Capitol Seniors Housing has broken ground on The Outlook at the Exchange, an active adult community for residents ages 55 and older in Buford. The 200,000-square-foot, four-story community will offer 180 residential units. The Outlook at the Exchange seniors housing community will be part of Fuqua Development’s Exchange at Gwinnett, a $350 million mixed-use development underway near the Mall of Georgia. The 106-acre development will include 460,000 square feet of retail, restaurants, entertainment and about 1,000 units of apartments, townhomes and seniors housing for about 3,000 residents. …

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Affordable HousingCaliforniaFinanceNews

Lument Closes $28M Loan for Affordable, Age-Restricted Apartment Community in Sacramento

by Jeff Shaw

SACRAMENTO, Calif. — Lument has closed a $28 million bridge loan to facilitate the refinancing and limited partner buyout of Greenfair Apartments, an age-restricted, low-income apartment property located in Sacramento. Aaron Wooler of Lument led the transaction on behalf of the borrower, Western America Properties, an affordable housing owner/developer. The firm specializes in acquiring, rehabilitating, preserving and managing HUD-insured, Section 8 apartment communities. Western America Properties originally acquired Greenfair Apartments in 2001 and subsequently renovated the 386-unit property. All units at the property benefit from project-based Section 8 housing assistance …

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