ANDERSON, Ind. — Evans Senior Investments (ESI) has arranged the sale of Providence Anderson, a 204-bed skilled nursing community, for $17.5 million, or $97,000 per functional bed. Built in three phases in 1964, 1978 and 1998, the property is located in Anderson, approximately 35 miles northeast of Indianapolis. The seller was an owner-operator of skilled nursing communities with locations primarily on the West Coast. Providence Anderson represented the seller’s only community in Indiana with the nearest community in the seller’s portfolio being 122 miles away. The buyer was a regional …
WHITTIER, Calif. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Posada, a 77-unit assisted living and memory care community in Whittier, a suburb of Los Angeles. The facility was built in 1984 with a renovation in 2017. It totals 41,658 square feet on approximately 0.72 acres of land. The seller was a regional owner-operator looking to divest from the senior care space. The buyer is a local owner-operator that plans on making some renovations to the property. Brad Goodsell, Jason Punzel and Vince Viverito of SLIB handled …
TOLEDO, Ohio — Welltower Inc. (NYSE: WELL) has hired John Burkart as executive vice president and chief operating officer. Upon joining the Toldeo-based REIT on July 19, Burkart will assume leadership responsibilities including platform-wide operations, asset and portfolio management, data analytics, research, and joint venture partnerships. Burkart will utilize a data-driven approach to drive platform efficiencies, capital allocation decisions, and technological innovation, according to Welltower. He will serve on the company’s executive team and investment committee, and will report to Shankh Mitra, CEO and CIO. Prior to joining Welltower, Burkart …
LOPATCONG, N.J. — Larken Associates has completed construction of Autumn Ridge, a 198-unit multigenerational community in Lopatcong, located along the Pennsylvania border from Allentown. The 10-building community features 148 garden- and garage-style multifamily units alongside Horizons at Autumn Ridge, an age-restricted building with 50 units reserved for the active adult community. Construction began in 2019, and the project is Larken Associates’ largest to date. The community was 100 percent occupied upon opening. “Our multifamily development philosophy is based on a recognition that today’s apartment residents increasingly represent a broad cross-generational …
REDDING, Conn. — Benchmark Senior Living has started construction of a new assisted living neighborhood at Meadow Ridge, a continuing care retirement community in Redding, approximately 40 miles northeast of New York City. With an anticipated opening date of early 2022, the new assisted living neighborhood will feature 20 one- and two-bedroom apartments capable of serving up to 28 residents. In addition, it will offer a restaurant-style dining room, recreation room, living area, card room and parlor, library and two secure outdoor patios. It will occupy two floors in the …
ROCHESTER, Minn. — Anthem Memory Care has neared completion of Cascade Creek, a memory care development in Rochester. The project will be Anthem’s 12th and its first in Minnesota. The company says the number of people with memory care in the state is expected to rise by more than 20 percent by 2025. Cascade Creek features 45 suites that can accommodate 50 residents in a two-story building. The property is scheduled to open this summer.
CHAGRIN FALLS, MADISON and SAYBROOK, Ohio — Oxford Finance LLC, an Alexandria-based lender, has closed a $24 million senior credit facility for Lantern Group, an owner and operator of skilled nursing and assisted living facilities. The funds were used to acquire three assisted living and memory care facilities located in Ohio: Lantern of Chagrin, Lantern of Madison, and Lantern of Saybrook. Lantern was founded in 2004 by CEO Jean Makesh and is headquartered in Northeast Ohio. The company has been the operator of the three facilities since their original construction. …
SOUTHFIELD, Mich. — American House Senior Living Communities has promoted Jodie Audia to the role of vice president of life enrichment and cognitive programming. Audia is responsible for the creation and implementation of life enrichment and cognitive programming strategies, policies and programs across American House’s portfolio of more than 50 communities in five states. Prior to joining American House in 2018, Audia served as branch director at Great Lakes Caring Home Health and Hospice, where she played a pivotal role in decreasing hospital readmissions and ensuring excellence in patient care. …
NEW YORK CITY and WARRENTON, Va. — Greystone, a national commercial real estate finance firm, and Monticello, which provides specialized private real estate and asset-based lending, have announced plans to combine their seniors housing and healthcare lines of business under a new joint venture. The joint venture will provide capital finance products and services for the seniors housing and healthcare industry. Greystone is the top healthcare lender in the United States for FHA-insured loans, originating over $3 billion overall in seniors housing and healthcare finance across FHA, Fannie Mae, Freddie …
CHICAGO — Fifty-one percent of senior housing properties experienced no COVID-19 deaths in 2020, according to an analysis by NORC at the University of Chicago via a grant provided by the National Investment Center for Seniors Housing & Care (NIC). Researchers analyzed data for four facility types in more than 100 counties across five states. About two-thirds (67 percent) of independent living properties, 64 percent of assisted living properties, and 61 percent of memory care properties studied experienced no COVID-19-related deaths in 2020. Thirty-nine percent (39 percent) of skilled nursing …