SAN ANTONIO — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of San Pedro Manor, a 150-bed skilled nursing facility in San Antonio. The acquisition was effective Feb. 1, and will be subject to a long-term, triple-net lease. The seller and landlord were not disclosed. This acquisition brings Ensign’s growing portfolio to 232 healthcare operations, 24 of which also include assisted living operations, across 13 states.
RALEIGH, N.C. — Allbridge, a Raleigh-based provider of technology solutions for senior living properties, has unveiled its new managed services platform designed to meet the evolving needs of senior living communities. The platform, called Vista, connects residents and staff through a package of data network, video and voice solutions, providing communities with a suite of modern technologies. As a HIPAA-compliant business associate, Allbridge meets the design and implementation standards to ensure communities can fulfill HIPAA requirements and stay ahead of security needs. Technology usage has been rapidly growing among older …
DALLAS — The Legacy Senior Communities (LSC) has completed construction of The Legacy Midtown Park, a seniors housing community in North Dallas. Located on a 12-acre plot, the property features 184 rental independent living apartments, 51 assisted living apartments, 36 memory support residences and 54 private skilled nursing and rehabilitation suites. Development costs were estimated at $186 million. “The new senior community will have capacity to serve over 500 residents and will create over 300 new jobs,” says Legacy Senior Communities CEO Melissa Orth. Construction began in 2018, with the …
LONGWOOD, Fla. — Lifespace Communities has opened The Oaks, a health center expansion at Village on the Green, a continuing care retirement community (CCRC) in the Orlando suburb of Longwood. The new building adds 48 skilled nursing beds, 36 assisted living apartments and 18 memory care suites to the 80-acre senior living community. “We are passionate about providing the best health services to seniors and their families, and the new health center is an invaluable addition to our offerings,” says Rachel Blumberg, executive director at Village on the Green. “Residents …
CHARLOTTESVILLE, Va. — Commonwealth Senior Living, a Charlottesville-based operator, has promoted Earl Parker to CEO. The move is part of a planned transition. The former CEO, Richard Brewer, will stay on as chairman. Michelle Hamilton, formerly senior vice president of operations, was also promoted to fill Parker’s previous role as chief operating officer. Brewer founded the company in 2002 and led the company’s growth from three to 33 communities over the last 19 years. “Since I joined the company in 2013, Commonwealth has grown considerably into one of the largest …
CODY, Wy., and GREAT FALLS, Mont. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two assisted living communities, located in Cody and Great Falls. The portfolio totals 107 units of assisted living and independent living. The buyer is an Oregon-based regional owner-operator familiar with the region. The seller and price were not disclosed. Bradley Clousing, Jason Punzel and Jeff Binder of SLIB handled the transactions.
BARTLETT, Ill. — Clare Oaks, a continuing care retirement community in the Chicago suburb of Bartlett, has changed its name to The Oaks at Bartlett and announced changes to its leadership team. ER Senior Management, which was appointed as the senior living community’s operator at the end of 2020, led the changes. Tim Lynch will take over the community as executive director. With more than 20 years’ experience in the healthcare and senior living fields, Lynch began his career as a physical therapist and has held management positions in hospitals …
CHATTANOOGA, Tenn. — Grandbridge’s Atlanta-based Seniors Housing and Healthcare Finance team has arranged $36.3 million in financing for BrightSpace Senior Living, a Chattanooga-based owner-operator. The financing package included two separate loans, both through Freddie Mac. The use of the funds was not disclosed. Richard Thomas led the transaction for Grandbridge.
CHICAGO — Ventas Inc. (NYSE: VTR) has closed a four-year, $2.8 billion unsecured credit facility. The credit facility was oversubscribed, with support from 24 new and incumbent financial institutions, according to the Chicago-based REIT borrower. “Ventas’ successful completion of this transaction reinforces our ample liquidity, extends our debt maturities and improves our borrowing costs,” says Robert Probst, executive vice president and chief financial officer for Ventas. The credit facility is initially priced at 82.5 basis points over LIBOR, based on the company’s debt ratings, a five-basis-point improvement from pricing under …
RADNOR, Pa. — Livingston Street Capital, a boutique private equity firm focused on commercial real estate investments, has expanded its leadership team to coincide with the firm’s actively growing focus on active adult and independent living assets nationally. The Randor-based firm, which currently owns nearly 1,000 active adult and independent living units in addition to its core and core-plus industrial and office holdings, has appointed Brian Krill as chief financial officer and senior housing industry veteran Shawn Rose as managing director of asset management. “As we strategically expand our holdings …