News

Assisted LivingDevelopmentFloridaNews

Solvere Nears Completion of Sunscape Daytona Beach in Florida

by Jeff Shaw

DAYTONA BEACH, Fla. — Solvere Living has opened the sales center at Sunscape Daytona Beach, an 85-unit seniors housing community in Daytona Beach, located along the Atlantic Ocean northeast of Orlando. Upon completion, scheduled for late this year, the community will feature 65 assisted living units and 20 memory care units. Solvere Living, the operations management division of St. Petersburg-based Solutions Advisors Group (SAG), will be the operator. Protea Capital Partners is the owner and developer. Irwin Partners Architects designed the community.

Continue Reading
0 FacebookTwitterLinkedinEmail
Company NewsFeaturesNewsPeople

CFG Bank Launches Workforce Development Program for Healthcare Workers

by Jeff Shaw

BALTIMORE — CFG Bank (CFGB), a Baltimore-based lender, has launched the Jack and Nancy Dwyer Workforce Development Program. The non-profit organization seeks to help resolve the effects of systemic poverty and inequality and help fix the turnover crisis and burnout due to staffing shortages in the healthcare industry by creating a pathway to advance career opportunities in the nursing profession. CFGB donated $1 million to jumpstart the program. As part of this initiative, CFGB also announced a partnership with and $1 million donation to Living Classrooms, a nonprofit serving Baltimore …

Continue Reading
0 FacebookTwitterLinkedinEmail
Assisted LivingDevelopmentNew JerseyNews

Capitol Seniors Housing Breaks Ground on 87-Unit Project in Evesham Township, New Jersey

by Jeff Shaw

EVESHAM TOWNSHIP, N.J. — Capitol Seniors Housing has broken ground on Arbor Terrace Marlton, a project in Evesham Township near Philadelphia that will consist of 60 assisted living apartments and 27 memory care units. The 76,500-square-foot community will be located near several major medical facilities and will offer amenities such as a private dining area, theater, bistro, hair salon, lounges and outdoor amenity spaces with artwork and a pond. Meyer Senior Living Studio is designing the project, and IMC Construction is the general contractor. The opening is scheduled for early …

Continue Reading
0 FacebookTwitterLinkedinEmail
Company NewsNewsPeople

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 …

Continue Reading
0 FacebookTwitterLinkedinEmail
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 …

Continue Reading
0 FacebookTwitterLinkedinEmail
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 …

Continue Reading
0 FacebookTwitterLinkedinEmail
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 …

Continue Reading
0 FacebookTwitterLinkedinEmail
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, …

Continue Reading
0 FacebookTwitterLinkedinEmail
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.

Continue Reading
0 FacebookTwitterLinkedinEmail
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 …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts