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AcquisitionsActive AdultMarylandNews

Livingston Street Capital Acquires 150-Unit Active Adult Community Near Baltimore

by Jeff Shaw

ELLICOTT CITY, Md. — An affiliate of Livingston Street Capital, a private equity firm, has acquired Alta at Regency Crest, a 150-unit active adult multifamily community in the greater Baltimore submarket of Ellicott City. Situated near healthcare, retail and transportation, Alta at Regency Crest rises four stories and offers one-, two- and three-bedroom floor plans. Livingston Street Capital’s affiliate acquired the asset from a private multifamily developer. The price was not disclosed. This acquisition comes on the heels of three recent active adult living property acquisitions by Livingston affiliates, including …

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Active AdultDevelopmentNewsTexas

Imprint Property Group, Batson-Cook Development Break Ground on Larkspur at Creekside Near San Antonio

by Jeff Shaw

NEW BRAUNFELS, Texas — A joint venture between Imprint Property Group (IPG) and Batson-Cook Development Co. (BCDC) has broken ground on Larkspur at Creekside, an active adult community in the San Antonio suburb of New Braunfels. The 184-unit project marks the first partnership between boutique developer IPG and BCDC, an Atlanta-based subsidiary of Japanese construction company Kajima Corp. The nine-acre development will be an anchor of the master-planned New Braunfels Town Centre,  a 400-acre community located 32 miles northeast of San Antonio and 48 miles southwest of Austin.  Larkspur at …

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AcquisitionsMemory CareNewsOhio

Blueprint Negotiates Sale of 84-Bed Victoria House in Austintown, Ohio

by Jeff Shaw

AUSTINTOWN, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Victoria House in Austintown, approximately 10 minutes west of downtown Youngstown. The property features 64 units, totaling 84 licensed beds and 72 operational beds. The community opened in December 2005 and features a secured specialty care wing for residents with Alzheimer’s disease and dementia. Blueprint successfully negotiated a lease of the community several years ago to a regional operator, Continuing Healthcare Solutions, which has now successfully exercised its purchase option to acquire the community.

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NewsPeople

Sabra Health Care REIT Appoints Ann Kono to Board of Directors

by Jeff Shaw

IRVINE, Calif. — Sabra Health Care REIT Inc. (NASDAQ: SBRA) has appointed Ann Kono to its board of directors. Kono currently serves as the chief executive officer of Leda Advisory Group, a management consulting firm she founded in January 2019 that partners with startup companies to advise on growth and scale. Prior to founding Leda, she spent 11 years at Ares Management Corp., where she held the position of chief information and risk officer overseeing operational, investment and enterprise risks. Kono also serves on the board of directors of Stable …

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DevelopmentNewsPeople

Pennrose Names Amon Martin to Head Southeast Development Activities

by Jeff Shaw

PHILADELPHIA — Pennrose, a Philadelphia-based developer, has promoted Amon Martin to regional vice president of the Southeast, following the recent announcement of the retirement of Mark Straub. Martin joined Pennrose in 2016 as senior developer. He has led the Atlanta office for Pennrose and contributed to the execution and growth of Pennrose’s development pipeline within the Southeastern U.S., including all aspects of the real estate development process from initial conception through construction, lease-up and stabilized occupancy or sale. Martin brings over 20 years of experience in market-rate and affordable apartments, …

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FeaturesNews

Seniors Housing Struggles Will Continue Through Mid-2021, Say InterFace Panelists

by Jeff Shaw

With two approved vaccines to combat COVID-19, the end of the pandemic is visible on the horizon. However, some seniors housing experts say it may be the third quarter of 2021 before the sector starts to see the turnaround take hold. “We have a much clearer picture of what the post-COVID world will look like,” said Adam Heavenrich, managing director of Heavenrich & Company. “The COVID world of 2020 will hopefully look drastically different from the post-COVID world of 2021.” The comments came during a panel titled “Investment Update: Should …

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AcquisitionsCompany NewsNewsTechnology

Private Equity Firm Thoma Bravo Acquires Software Company RealPage for $10.2B

by Jeff Shaw

CHICAGO and RICHARDSON, Texas — Chicago-based private equity firm Thoma Bravo has acquired RealPage (NASDAQ: RP), the Richardson, Texas-based provider of property management software, in a deal valued at $10.2 billion. The price tag includes the assumption of the debt of RealPage, which was founded in 1998 and serves owners worldwide, including seniors housing. Under the terms of the agreement, RealPage stockholders will receive $88.75 in cash per share of RealPage common stock upon closing of the transaction. The purchase price represents a premium of 30.8 percent over RealPage’s closing stock …

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AcquisitionsAssisted LivingCaliforniaNews

Kisco Buys 139-Unit Aria Park of Woodbridge in Irvine, California

by Jeff Shaw

IRVINE, Calif. — Kisco Senior Living has acquired Atria Park of Woodbridge, a 139-unit seniors housing community in Irvine, approximately 40 miles southeast of downtown Los Angeles. Healthpeak sold the 103,000-square-foot property for an undisclosed price. The seller recently completed a $9 million renovation at the community that converted some assisted living units into a memory care neighborhood. In addition to taking over management duties from Atria Senior Living, Kisco plans to rename the community Woodbridge Terrace of Irvine as part of the results of a resident poll. The executive …

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AcquisitionsCaliforniaNews

Auerbach Funds Acquires 70-Unit Foothill Village Community in Angels Camp, California

by Jeff Shaw

ANGELS CAMP, Calif. — A partnership between Auerbach Funds and Prado Senior Living, an affiliate of Mello Group LLC, has acquired Foothill Village, an independent living, assisted living and memory care community in Angels Camp, approximately 80 miles southeast of Sacramento. The new owners plan to renovate the 70-unit community, including the addition of new dining outlets, outdoor amenities and a lounge that overlooks the Sierra Nevada Mountains. “We were able to acquire the asset off market during the height of COVID-19 pandemic,” says Peter Auerbach, founder and managing partner …

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Affordable HousingDevelopmentNewsPennsylvania

Tryko Partners to Build Fairywood Affordable Redevelopment in Pittsburgh

by Jeff Shaw

PITTSBURGH, Pa. — The Urban Redevelopment Authority (URA) of Pittsburgh has selected Tryko Partners as developer of choice to redevelop the former Fairywood School site in the city’s west end. Tryko’s winning proposal will transform the vacant property into 46 affordable townhomes for seniors aged 62 and up as part of a neighborhood revitalization initiative. The project design features one-bedroom units with covered porches, surrounded by a series of walkable, park-like green spaces. The complex will be transit-friendly and incorporate energy-efficient and sustainable site design, including rain gardens throughout the …

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