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Benchmark Launches Coronavirus Advisory Council with Panel of Public Health Experts

by Jeff Shaw

WALTHAM, Mass. — Benchmark Senior Living, a Waltham-based provider of senior living services in the Northeast, has expanded its team of consulting medical and scientific experts with the creation of the Benchmark Coronavirus Advisory Council. The council will guide the company’s long-term strategy and response to the COVID-19 pandemic. The council’s esteemed members include a former U.S. surgeon general, a former secretary of the U.S. Department of Veterans Affairs, a nationally known geriatric psychiatrist, a leading infection control preventionist and other experts. “Since the pandemic began, we’ve relied on leading …

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Sabra Health Care REIT Appoints Katie Cusack to Board of Directors

by Jeff Shaw

IRVINE, Calif. — Sabra Health Care REIT (NASDAQ: SBRA), an Irvine-based investor, has appointed Katie Cusack to its board of directors. Cusack currently serves as chief operating officer of Cornell Capital LLC, a $4 billion private investment firm with offices in New York and Hong Kong. From 2007 to 2020, she served in various capacities at Credit Suisse, including chief operating officer for the investment banking division in Asia Pacific, Europe, Middle East and Africa, and as the head of ultra-high net worth coverage. Prior to joining Credit Suisse, Cusack …

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CCRCDevelopmentNewsSouth Carolina

The Woodlands at Furman Completes $4.5M Expansion in Greenville, South Carolina

by Jeff Shaw

GREENVILLE, S.C. — The Woodlands at Furman, a nonprofit continuing care retirement community in Greenville, has completed its 13,000-square-foot expansion. The project added Community Village, which features a multipurpose room and a wellness center that includes cardio equipment, therapy pool, massage room, day spa, gym, locker rooms. Development costs were estimated at $4.5 million. “The Community Village reminds me of a town square – providing a hub for activities ranging from lectures to exercise classes to spa services,” said Mary Lou Merkt, president and CEO at The Woodlands at Furman. …

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FinanceKeyBankNews

KeyBank Provides Fannie Mae Financing for Enlivant Portfolio

by Jeff Shaw

CHICAGO — KeyBank Real Estate Capital (KBREC) has provided Fannie Mae financing for a multistate portfolio of properties operated by Enlivant, a Chicago-based owner-operator. The loan provides long-term, nonrecourse debt. The Fannie Mae financing was completed in conjunction with KeyBank Real Estate Capital’s extension of revolving lines of credit to other properties operated by Enlivant. Charlie Shoop of Key’s Commercial Mortgage Group led the financing for Key. Tim Sylvain, Paul Di Vito and Patrick Gilbreath of Key’s Healthcare Finance Group originated and structured the balance sheet financing on behalf of …

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AcquisitionsCCRCConnecticutNewsOperations

Benchmark Assumes Management of Meadow Ridge CCRC in Redding, Connecticut

by Jeff Shaw

REDDING, Conn. — Benchmark Senior Living has become part owner and the operator of Meadow Ridge, a continuing care retirement community (CCRC) in Redding, approximately 55 miles northeast of Manhattan. Affiliates of Senior Care Development, the community’s original developers, will retain majority ownership. Set on 136 acres, Meadow Ridge is Connecticut’s largest retirement community offering independent living, assisted living, skilled nursing and rehabilitation on one campus. It opened in 2001 and features 415 apartment homes and employs more than 300 associates. Benchmark owns and operates 63 independent living, assisted living, …

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Sabra Health Care REIT Appoints Michael Costa as Chief Accounting Officer

by Jeff Shaw

IRVINE, Calif. — Sabra Health Care REIT Inc. (NASDAQ: SBRA), an investor based in Irvine, has appointed Michael Costa to the position of chief accounting officer. He has also been designated by the company’s Board of Directors as the principal accounting officer. Costa currently serves as Sabra’s executive vice president of finance, a position he has held since August 2017. Previously, he held various leadership positions overseeing Sabra’s accounting and finance functions since Sabra’s inception in November 2010. Costa has more than 15 years of experience in commercial real estate …

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Ascension Names Rafael Bloise as Chief Medical Officer of Senior Care

by Jeff Shaw

ST. LOUIS — Ascension, a St. Louis-based health system, has named Rafael Bloise as chief medical officer of senior care, including Ascension Living. In this role, Bloise will be responsible for the clinical direction and strategy across Ascension Living, as well as champion the implementation of a national palliative care strategy in partnership with each Ascension acute care market. Bloise comes to Ascension from Mercy Health West Michigan, where he served as the regional medical director of the Palliative and Support Care Program. Bloise is board certified in internal medicine, …

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Assisted LivingDevelopmentFinanceMassachusettsNews

Cushman & Wakefield Arranges $29.8M Construction Financing for Benchmark Community in Hanover, Massachusetts

by Jeff Shaw

HANOVER, Mass. — Cushman & Wakefield’s Senior Housing Capital Markets team has arranged a $29.8 million loan for the construction of Benchmark of Hanover, approximately 20 miles south of Boston. The borrower is a joint venture between Benchmark Senior Living and Iron Point Partners LLC. The property will feature 97 units of assisted living and memory care. The Cushman & Wakefield team involved in the transaction includes Rick Swartz, Jay Wagner, Sam Dylag, Jack Griffin and Joseph Carbone. “Hanover is a quintessential South Shore Boston suburb with excellent access to …

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DevelopmentMassachusettsMemory CareNews

Nauset, Anthemion Break Ground on 54-Unit Cordwainer Memory Care Community in Norwell, Massachusetts

by Jeff Shaw

NORWELL, Mass. — Nauset Construction and Anthemion Senior Lifestyles LLC have broken ground on The Cordwainer, a memory care community in Norwell, approximately 20 miles south of Boston. The community will feature 54 units in a 50,000-square-foot building. “The Town of Norwell is an ideal location for our expansion into the South Shore area,” says Tamilyn Liesenfeld, president and CEO at Anthemion Senior Lifestyles. “There is a strong demand for lifestyle communities for adults with Alzheimer’s and dementia who need personal supportive services that provide safe, independent living.” Designed by …

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