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CEO Panel: Active Adult Hits Adolescence as Baby Boomers Move In

by Jeff Shaw

DALLAS — The active adult subsector of seniors housing has officially emerged from its infancy as a commercial real estate market, but the specifics of the product type are still evolving as owners discover more and more about the incoming baby boomer residents. That was the message from CEOs in the sector, who spoke on a CEO panel titled, “Where the Active Adult Space Is Now, and What Comes Next?” at InterFace Active Adult, held April 18 at The Westin Las Colinas in Dallas. Panelists included Ben Burke, managing partner, …

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AcquisitionsAssisted LivingNewsTennessee

Berkadia Negotiates Sale of Two Communities in Tennessee

by Jeff Shaw

KNOXVILLE and JACKSON, Tenn. — Berkadia has arranged the sale of two assisted living and memory care communities in Tennessee.  Berkadia Seniors Housing & Healthcare, led by Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders, negotiated the 127-unit transaction on behalf of a publicly traded REIT. Mainstay Senior Living acquired the properties, which are located in the Knoxville and Jackson markets. Further details were not disclosed.

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FinanceNewsOhio

CFG Provides $65M Refinancing for Nine-Community Portfolio in Ohio

by Jeff Shaw

OHIO — Capital Funding Group (CFG) has provided a $65 million bridge loan to support the refinancing of a nine-facility senior living portfolio in Ohio.  The portfolio includes one independent living facility, one assisted living facility and seven skilled nursing facilities totaling 709 beds. Craig Casagrande and Catherine Mansel of CFG originated the transaction. Further details were not disclosed.

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NewsPeople

Spring Arbor Promotes Susan Durr to Senior Vice President of Midwest Operations

by Jeff Shaw

SPRINGFIELD, Mo. — Spring Arbor Senior Living has promoted Susan Durr to senior vice president of divisional operations for the Midwestern region. Durr first entered the senior living industry in 2020, when she was hired by an operator of 23 senior living locations throughout the Midwest. In her new role, she oversees 13 communities across five states, based in Spring Arbor’s newest corporate location in Springfield. Durr is a Certified Public Accountant (CPA) and also holds a real estate salesperson license in the state of Missouri. She is a member …

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Active AdultAffordable HousingDevelopmentMinnesotaNews

Lupe Development Completes 200-Unit Wirth on the Woods Mixed-Income Community in Minneapolis

by Jeff Shaw

MINNEAPOLIS — Lupe Development has opened Wirth on the Woods, a 200-unit mixed-income seniors housing community in the Bryn Mawr neighborhood of Minneapolis. The campus includes 100 units of affordable seniors housing in a six-story building (The Theodore) and 100 units of market-rate active adult housing (The Eloise) in a second six-story building. The development includes a new regional storm pond, outdoor classroom and play area for the adjacent Anwatin Middle and Bryn Mawr Elementary schools, as well as shared amenities for the senior campus. The affordable housing at The …

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AcquisitionsNewsSkilled NursingUtah

Ensign Group Acquires Long-Term Acute Care Hospital, Skilled Nursing Facility in Bountiful, Utah

by Jeff Shaw

BOUNTIFUL, Utah — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the real estate and operations of South Davis Specialty Care a 95-bed skilled nursing operation, and Western Peaks Specialty Hospital, a 43-bed long-term acute care hospital (LTACH). Both assets are located in Bountiful, approximately 10 miles north of Salt Lake City.  The real estate was acquired by a subsidiary of Standard Bearer Healthcare REIT Inc., Ensign’s captive real estate company. “This acquisition represents a milestone in our organization, as it is the first acquisition of a long-term acute care …

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InvestmentNewsPeople

Senior Lifestyle Hires Industry Veteran John Rimbach as Chief Investment Officer

by Jeff Shaw

CHICAGO — Senior Lifestyle, a Chicago-based owner-operator, has hired John Rimbach as chief investment officer. With more than 30 years of experience in the senior living industry, Rimbach will spearhead the company’s investment strategies and financial growth trajectory. Prior to joining Senior Lifestyle, Rimbach served as president of healthcare facilities at Health Care Trust Advisors LLC. In this role, he managed diverse portfolios and executed winning investment strategies in the senior living space. As the founder and CEO of West Living LLC, Rimbach drove operations and optimized financial performance. In …

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AcquisitionsIllinoisMemory CareNewsOperationsWisconsin

Anthem Memory Care Assumes Management of Communities in Illinois, Wisconsin

by Jeff Shaw

SAVOY, Ill., and FRANKLIN, Wis. — Anthem Memory Care has assumed management of two communities — Savoy Place in Savoy and Franklin Place in Franklin.  Under the agreement, Anthem Memory Care is managing all aspects of the communities’ operations and will add regional staff, technology and training programs to adapt the communities to its approach to care. The new properties bring Anthem’s portfolio up to 20 properties and marks the Oregon-based operator’s entry into Wisconsin. With existing communities in Arkansas, California, Colorado, Illinois, Kansas, Minnesota and Ohio, Anthem now manages …

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AcquisitionsNewsOhioSkilled Nursing

Blueprint Brokers Sale of Skilled Nursing Facility in Cincinnati

by Jeff Shaw

CINCINNATI — Blueprint Healthcare Real Estate Advisors has arranged the sale of a skilled nursing facility in Cincinnati. A local owner-operator looking to focus on other asset classes sold the property to another owner-operator. The price was not disclosed. The facility opened in 2013 featuring a large rehabilitation center and state-of-the-art aquatic therapy room, in addition to all-private resident rooms. Connor Doherty and Ryan Kelly led the Blueprint team.

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AcquisitionsAssisted LivingMichiganNewsOperations

Arrow Takes Over Management of University Senior Living in Ann Arbor, Michigan

by Jeff Shaw

ANN ARBOR, Mich. — Arrow Senior Living has assumed management of University Senior Living, expanding its Midwest reach.  Located near the University of Michigan campus in Ann Arbor, University Senior Living features 63 assisted living units and 12 memory care apartments. Arrow Senior Living’s portfolio includes 37 communities, with several in development, across the Midwest. The addition of University Senior Living marks Arrow’s expansion into the Michigan market.

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