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Steven Vick Retires from Pegasus, Chris Hollister to Take CEO Role

by Jeff Shaw

DALLAS — Steven Vick has retired as chairman and CEO of Pegasus Senior Living, a Dallas-based operator formed in 2016 to take over management of a portfolio of Welltower-owned seniors housing assets. Co-founder Chris Hollister has assumed both roles effective immediately. “I have been battling some health problems for several years and felt it was time to retire,” says Vick. “Chris has been my partner and co-founder in Pegasus since day one. I am confident he and his team will carry on the mission and the work to deliver quality …

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FinanceNew YorkNewsSkilled Nursing

Greystone Provides $24.9M HUD-Insured Loan for Refinancing of Skilled Nursing Facility in Yonkers, New York

by Jeff Shaw

YONKERS, N.Y. — Greystone has provided a $24.9 million HUD-insured loan for the refinancing of Adira at Riverside, a 120-bed skilled nursing facility in Yonkers, located north of New York City. Built in 2000, the property offers short-term rehabilitation, occupational, physical and speech therapy services, as well as amputee rehab, wound care, neuro-rehabilitation, certified cardiopulmonary rehabilitation, long-term skilled nursing care, and dedicated Alzheimer’s and dementia care services. Fred Levine of Greystone originated the financing. Shia Fishman of Capital Stack Advisors arranged the loan on behalf of the borrower, L&A RE …

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Company NewsNews

Lument Securities Advises on Employee Stock Ownership Plan Transaction for Midwest Nursing Home Provider

by Jeff Shaw

NEW YORK CITY — Lument Securities has assisted one of the largest groups of skilled nursing providers in the Midwest with the successful sale and transition of approximately 36 operating affiliates, consisting of approximately 4,000 licensed beds, to a newly formed employee stock ownership plan (ESOP). As a result of the transaction, the company is now fully employee-owned through its employee stock ownership trust. “ESOP transactions are gaining in popularity in recent years and can serve as an effective solution for operating company owners,” says Laca Wong-Hammond, head of M&A …

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NewsPeopleTechnology

Atria Senior Living Hires Chris Nall as Chief Technology Officer

by Jeff Shaw

LOUISVILLE, Ky. — Atria Senior Living has appointed technology executive Chris Nall to the position of chief technology officer (CTO). Atria also announced that current Ali Sareea, currently executive vice president and chief information officer at Atria, has been named executive vice president and CTO for Glennis Solutions. Louisville-based Atria’s new subsidiary offers a full suite of “software as a service” technology solutions and software platforms to help senior living providers and operators improve resident care and business management. As Atria’s CTO, Nall will be the top executive client interface …

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FinanceNewsWashington

CBRE Arranges $49M Refinancing for Four-Property Portfolio in Metro Seattle

by Jeff Shaw

SEATTLE — CBRE Senior Housing has arranged a refinancing for a portfolio of four senior living properties in the Seattle metropolitan area. The four senior living communities are located on infill sites. The portfolio features 368 total units, of which 91 units are for independent living and 277 units are for assisted living. CBRE secured a five-year, $49 million, floating-rate loan with 36 months of interest-only payments through a national bank. MBK Senior Living will continue to operate the four properties as it has since acquisition. Aron Will, Austin Sacco, …

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AcquisitionsMinnesotaNews

SLIB Negotiates $7.2M Sale of Community in Wayzata, Minnesota

by Jeff Shaw

WAYZATA, Minn. — Senior Living Investment Brokerage has arranged the sale of a 67-unit independent living and assisted living property in Wayzata, approximately 13 miles west of Minneapolis. The 78,000-square-foot property is located on a four-acre plot and was vacant at the time of sale. A nonprofit entity sold the property to a local owner-operator for $7.2 million. The buyer plans to implement a renovation plan before reopening the community Jason Punzel, Brad Goodsell and Vince Viverito of Senior Living Investment Brokerage handled the transaction.

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FinanceNewsPeople

Bellwether Enterprise Hires Ryan Stoll as National Director of Seniors Housing and Care

by Jeff Shaw

DENVER — Bellwether Enterprise Real Estate Capital LLC has hired Ryan Stoll as national director of seniors housing and care. Stoll will be responsible for the creation of a specialized production team and the development and implementation of a growth strategy for Bellwether Enterprise’s seniors housing mortgage lending platform. Stoll will be based in the Denver office. Stoll has nearly a decade of experience working in seniors housing finance and has originated $2 billion in seniors housing capital markets transactions throughout his career. Before joining Bellwether Enterprise, Stoll served as …

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DevelopmentNewsWashington

Aegis Living Opens Bellevue Overlake Community Near Seattle

by Jeff Shaw

BELLEVUE, Wash. — Aegis Living has opened Aegis Living Bellevue Overlake, located in the city of Bellevue where the company is headquartered. The community features 122 senior living apartments in the 106,000-square-foot-building. Its opening follows Aegis Living’s joint acquisition of 10 communities across California, Washington, and Nevada. Aegis has eight additional communities under development, including communities in Kirkland and the Eastlake neighborhood of Seattle. Aegis Living Bellevue Overlake is the first community Aegis Living has designed to be fully centered in the scientific benefits of biophilia and the innate connection …

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Affordable HousingCaliforniaFinanceNews

Greystone Provides $29.9M in HUD-Insured Financing for Affordable Property in Pomona, California

by Jeff Shaw

POMONA, Calif. — Greystone has provided a $29.9 million HUD-insured loan to refinance Serenity Villas, a 174-unit affordable seniors housing property in Pomona. Shana Daby, a managing director with Greystone, originated the transaction on behalf of AMCAL. The Section 223(f) loan refinances the property at a fixed rate with a 35-year term and amortization. Loan proceeds also enable the borrower to make capital improvements and set up a debt service reserve, as well as monetize existing equity in the property. Originally constructed by the borrower in 2002, Serenity Villas is …

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DevelopmentFinanceIllinoisNews

American House Receives Financing for Senior Living Project in Oak Park, Illinois

by Jeff Shaw

OAK PARK, Ill. — American House Senior Living Communities has received financing for its latest senior living project in Oak Park, eight miles west of downtown Chicago. American House Oak Park will be a seven-story seniors housing community featuring 76 independent living, 66 assisted living and 35 memory care units. Expected to open fall 2022, demolition work was completed in late February and construction began in March. American House will operate the community upon completion.

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