VALPARAISO, Ind. — Evans Senior Investments (ESI) has arranged the sale of Journey Senior Living of Valparaiso, a 98-unit assisted living and memory care community located near the southern bank of Lake Michigan in Valparaiso. The community opened in 2018, but struggled with lease-up, went through two management companies and was shut down in September 2020. The buyer was a regional private equity group that plans to make significant renovations to the empty building and reopen it in fall 2021. The price was $9.2 million, or $93,000 per unit. “Journey …
WEST DES MOINES, Iowa — Lifespace Communities has appointed Sandra Parker to the position of general counsel. Parker is a lawyer with more than 25 years of experience. Her knowledge and expertise span many aspects of the health care industry, including hospital administration, federal healthcare regulations, pharmaceutical manufacturing compliance and health data information. Sandra earned her bachelor’s degree in English literature from the University of Southwestern Louisiana, her master’s degree in English literature from Louisiana State University, and her Juris Doctor from the Loyola School of Law. Lifespace Communities, based …
PORTLAND, Ore. — Berkadia Seniors Housing & Healthcare has arranged $82.4 million in financing for Touchmark in the West Hills, a seniors housing community in Portland. The borrower is Oregon-based Touchmark. Further details on the property and the use of the financing were not disclosed. Chris Cain and Rafael Nobo of Berkadia Seniors Housing & Healthcare secured the financing through Freddie Mac. The seven-year loan has a 53 percent loan-to-value ratio.
GRANBURY, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of Residence at Legacy Park, an active adult community in Granbury, approximately 35 miles southwest of Fort Worth. Built in 2018, the community features 81 units and is restricted to residents age 55 or older. A local owner-operator looking to exit the industry sold the asset to a national group headquartered in Utah for $18 million. Matthew Alley and Bradley Clousing of SLIB handled the transaction.
OMAHA, Neb. — Essex Communities, an Omaha-based active adult operator, has added Camille Burke to its leadership team as vice president and chief development officer. Burke has more than 20 years of experience in the seniors housing industry, including almost 17 years at Christian Living Communities, where she recently ended her tenure as interim chief executive officer. At Christian Living Communities, Burke helped lead design, development, pre-sales, opening of new communities and community operations, growing the portfolio from three continuing care retirement communities to 26 communities across seven states In …
RAYMORE, Mo., and INDIANAPOLIS — Subsidiaries of Boncrest Resource Group Inc. have acquired two continuing care retirement communities (CCRCs) from Brookdale Senior Living: Foxwood Springs in the Kansas City suburb of Raymore and Robin Run Village in Indianapolis. Following a brief transition period where Brookdale will continue to manage the properties, Boncrest plans to install Texas-based ER Senior Management as operator. The new operator specializes in active adult and age-in-place communities. The acquisitions are the first for Boncrest, a nonprofit organization based in Atlanta formed in 2017 to address the …
ROCKLEDGE, Fla. — Validus Senior Living has opened the doors on Alura by Inspired Living, an independent living, assisted living and memory care community in Rockledge, a coastal city east of Orlando. Situated on 11.3 acres, the 113,935-square-foot building will feature a total of 127 one- and two-bedroom apartments. Alura by Inspired Living is part of an ongoing relationship between Tampa-based operator Validus and developer Premium Edge LLC. “Inspired Living” is the upscale brand of Validus.
PORTLAND, Ore. — Berkadia Seniors Housing & Healthcare has arranged a $50.2 million HUD 232/223(a)(7) refinancing for a 253-unit independent living, assisted living and memory care community in Portland. “Historically, the property has maintained an occupancy percentage in the low 90s and ended 2020 with an occupancy of 88 percent, showing impressive resilience throughout the pandemic,” says Ed Williams of Berkadia, who led the refinancing. “The HUD refinance will allow the borrower to save on debt service and MIP payments through the combination of a lower rate and an extension …
COLUMBUS, Ohio — VIUM Capital, a seniors housing and healthcare lender based in Columbus, has hired four new members to its team, all as senior managing directors. The firm hired Columbus-based Chris Blanda and Brendan Healy; Austin, Texas-based Scott Blount; and Boca Raton, Florida-based Tony Ruberg. The four have previously worked together while closing over $3 billion of seniors housing and healthcare financings, though their professional histories were not disclosed. Blanda and Healy will focus their efforts across the Midwest, Southeast and Mid-Atlantic, while Ruberg will focus on the country’s …
DALLAS — Sentrics, a Dallas-based technology company, has formed an inaugural Product Advisory Council (PAC) for its acute care division, serving hospitals and skilled nursing facilities. The PAC, which will help leadership translate market trends into product direction and high-level market requirements, aims to strengthen the company’s commitment to the acute care market. The formation comes as the company begins its integration of Allen Technologies. “Sentrics works with leaders across all acuity levels to leverage data-driven solutions that solve the issues of safety, engagement, care transition and overall health and …