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Ryan Cos. Hires Patrick Dimaano to Senior Living Team in Western Division

by Jeff Shaw

SAN DIEGO, Calif. — Ryan cos. US Inc. has hired Patrick Dimaano as vice president of senior living development for its Western division. Dimaano is based in the company’s San Diego office and will lead senior living development for Ryan’s Southwest, West and Northwest regions. Bringing 13 years of sector and industry experience to the role, Dimaano will support the national growth of Ryan’s senior living portfolio by pursuing development opportunities, maintaining and growing relationships with key partners, and working hand-in-hand with operators. In his previous roles, Dimaano executed on …

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AcquisitionsCCRCMichiganNews

MED Healthcare Partners Makes Stalking Horse Bid to Buy Henry Ford Village CCRC Out of Bankruptcy for $69M

by Jeff Shaw

DEARBORN, Mich. — Henry Ford Village has entered into a stalking horse asset purchase agreement with MED Healthcare Partners, in accordance with bid procedures approved by the U.S. Bankruptcy Court for the Eastern District of Michigan, Southern Division. Under the terms of the stalking horse agreement, MED would acquire substantially all the community’s assets for $69 million. Pending approval, MED will add the continuing care retirement community (CCRC) into its portfolio, which currently includes five CCRCs,150 skilled nursing facilities and 20 assisted living and memory care facilities across the country. …

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Assisted LivingDevelopmentNewsPennsylvania

Capitol Seniors Housing Opens 88-Unit Arbor Terrace Exton Near Philadelphia

by Jeff Shaw

WEST WHITELAND TOWNSHIP, Pa. — Capitol Seniors Housing has opened Arbor Terrace Exton, an assisted living and memory care community in West Whiteland Township, a suburb of Philadelphia. The 78,000-square-foot community totals 88 units across three interconnected neighborhoods. The site is located near major medical facilities, restaurants and shopping locations. Meyer Senior Living Studio designed the project, which IMC Construction built. The Arbor Company is the operator.

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KansasMemory CareNewsPeople

Anthem Appoints Dave Norton as Executive Director of Morningside Place in Overland Park, Kansas

by Jeff Shaw

OVERLAND PARK, Kan. — Anthem Memory Care has named Dave Norton as the executive director of Morningside Place, a memory care community in Overland Park. He will oversee all care, operations and programming. Norton previously was administrator/executive director of nearby Rolling Hills Health & Rehab. His career includes two decades of managerial experience in the medical equipment and diagnostics fields. A graduate of the University of Kansas, Norton is a licensed respiratory therapist as well as a licensed nursing home administrator.

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CaliforniaFinanceNews

NorthMarq Arranges $31M Refinancing for Merrill Gardens Rancho Cucamonga

by Jeff Shaw

RANCHO CUCAMONGA, Calif. — NorthMarq has arranged a $31 million refinancing for Merrill Gardens Rancho Cucamonga. The 112-unit community was built in 2018 and offers independent living, assisted living and memory care. The property is situated on 4.21 acres in the heart of Rancho Cucamonga, approximately 35 miles east of downtown Los Angeles. Stuart Oswald and Gordon Mickelson led the transaction for NorthMarq. A correspondent life insurance company provided the permanent, fixed-rate loan for the borrower, a joint venture between Merrill Gardens and AEW Capital Management. The loan, structured prior …

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FinanceNews

CFG Provides $285M Bridge-to-HUD Financing for Skilled Nursing Portfolio Acquisition in Mid-Atlantic

by Jeff Shaw

BALTIMORE — Capital Funding Group (CFG), in partnership with its credit venture CFG Credit Partners, has provided $285 million in bridge-to-HUD financing for the acquisition of a skilled nursing portfolio. The borrower is a skilled nursing operator. The loans were secured by 16 facilities in the Mid-Atlantic region. Erik Howard and Tim Eberhardt originated the transaction for Baltimore-based CFG.

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NewsOperations

Brookdale Opens Communities for Indoor Visits

by Jeff Shaw

NASHVILLE, Tenn. — A little over a year after visitor restrictions were put into place to help protect residents from COVID-19, Brookdale communities across the country are now able to lift those restrictions to allow both outdoor and indoor visits, subject to specific state guidance. The state regulatory agencies in the 43 states in which Brookdale operates have adapted guidance to align with the recently updated protocols from the Centers for Disease Control (CDC) and/or the Centers for Medicare and Medicaid Services (CMS) allowing assisted living, memory care and skilled …

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Active AdultFinanceIllinoisM&T Realty Capital CorporationNews

M&T Funds $15.1M Refinancing for Active Adult Community in St. Charles, Illinois

by Jeff Shaw

ST. CHARLES, Ill. — M&T Realty Capital Corp. has provided a $15.1 million Fannie Mae loan for the refinance of an 80-unit active adult community in St. Charles. The transaction was worked in conjunction with Ziegler, a specialty investment bank headquartered in Chicago. The 10-year, fixed-rate loan was structured with five years of interest-only payments, followed by 30 years of amortization. The loan also carries a declining prepayment schedule, which will provide the undisclosed borrower with additional flexibility in future years. The community was 98.8 percent occupied at the time …

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NewsOperationsPeople

Watercrest Promotes Kim Sviben to Area Director of Operations

by Jeff Shaw

VERO BEACH, Fla. — Watercrest Senior Living Group has promoted Kim Sviben to the role of area director of operations, leading the company’s growing Southeast portfolio. Sviben joined the Watercrest family in 2017 as resident wellness director, later becoming executive director of Pelican Landing Assisted Living and Memory Care in March 2019. During her leadership, Sviben and her team accomplished 100 percent occupancy twice and earned the title of ‘Best Assisted Living Community’ two years in a row from the Hometown News.

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AcquisitionsFloridaNews

Prime Care One Sells Two HarborChase Communities in Florida for $26.8M

by Jeff Shaw

NAPLES and VENICE, Fla. — JLL Capital Markets has arranged the $26.8 million sale of a senior living portfolio consisting of two properties totaling 243 units in Southwest Florida. JLL worked on behalf of the seller, Prime Care One, to complete the sale to the buyer, Pointe Group Care. The portfolio includes HarborChase of Naples and HarborChase of Venice, which offer assisted living, memory care and skilled nursing services. Since 2015, the previous owner invested in excess of $3.5 million to update generators, cooling towers and roofs, among other renovations. …

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