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Health Dimensions Group to Manage Former Brookdale Community in Burr Ridge, Illinois

by Jeff Shaw

BURR RIDGE, Ill. — Health Dimensions Group (HDG) has taken over management of Brookdale Burr Ridge, with plans to reposition the community and rebrand it as Dimensions Living Burr Ridge. Burr Ridge is located near the Des Plaines river approximately 18 miles southwest of downtown Chicago. The community features assisted living, memory care, rehabilitation and skilled nursing services. The number of units was not disclosed. HDG provides management and oversight for 38 senior care and living communities in eight states, serving more than 2,000 residents and overseeing more than 2,000 …

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FinanceNewsWisconsin

Berkadia Arranges $32.3M Refinancing for Community in Appleton, Wisconsin

by Jeff Shaw

APPLETON, Wis. — Berkadia’s Seniors Housing and Healthcare Group has secured a $32.3 million refinancing for a seniors housing facility in Appleton, located near the north bank of Lake Winnebago approximately 30 miles southwest of Green Bay. Chris Cain secured the financing on behalf of the Oregon-based owner and operator, Touchmark. Further details on the property were not disclosed. “We were able to lock in a low interest rate and provide additional equity to the borrower at closing, even with the current COVID-19 restrictions,” says Cain. “We expect to see …

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AcquisitionsCompany NewsFloridaNews

Strive Senior Living Acquires Classic Home Health Services

by Jeff Shaw

ORLANDO — V 3 Capital Group, through its affiliate Strive Senior Living LLC, has completed the corporate acquisition of Classic Home Health Services Inc. for an undisclosed price. The acquired company is an in-home healthcare provider that offers medical treatment or assistive care for patients who do not require hospitalization or facility care but do need additional support to live safely in their homes. Strive purchased all assets of the company and will continue operations under the Classic Home Health Services brand. Classic is an established company with 25 years …

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NewsPeople

Kisco Senior Living Hires Mizuki Sato-Berkeland as National Director of Environmental Health, Safety

by Jeff Shaw

CARLSBAD, Calif. — Kisco Senior Living has hired Mizuki Sato-Berkeland as its national director of environmental health and safety. Sato-Berkeland previously worked in healthcare process and quality improvement at UCLA Health System and has a background in community outreach and emergency preparedness. She holds a bachelor’s degree from the University of California, Los Angeles and a Master of Public Health from Columbia University. “I’ve always had an interest in senior living because of the relationships I have with my grandparents and parents,” says Sato-Berkeland. “Now, I am able to learn …

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NewsOperationsPeople

Cadence Living Hires Deborah Osterhaudt as Regional Vice President of Operations in the Southeast

by Jeff Shaw

SCOTTSDALE, Ariz. — Cadence Living has hired Deborah Osterhaudt as vice president of operations for the Southeast region. Osterhaudt will have principal responsibility for operational success of Cadence’s growing portfolio of senior living communities in the Southeast. She has over 21 years of experience in caring for seniors and seniors housing operations as well as holding regional sales and marketing positions Prior to joining Cadence, Osterhaudt held regional operations and marketing roles with The Arbor Company, Principal Senior Living Group, Thrive Senior Living and Brickmont Assisted Living. She will be …

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AcquisitionsAssisted LivingNewsOregon

SLIB Brokers $15.7M Sale of The Grove and The Gardens in Forest Grove, Oregon

by Jeff Shaw

FOREST GROVE, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Grove and The Gardens, a 92-unit assisted living and memory care community in Forest Grove, approximately 25 miles west of Portland. A family retiring from the industry sold the property to a regional owner-operator for $15.7 million. The community was built in 1996, with memory care added in 2000. The facility is approximately 63,000 square feet and is situated on approximately 2.7 acres of land plus an additional one-acre lot. The buyer plans to remodel …

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DevelopmentFinanceNewsTexas

HJ Sims Arranges $2.8M PACE Financing for Redevelopment Project in Houston

by Jeff Shaw

HOUSTON — HJ Simshas arranged $2.8 million PACE financing, a government program that funds energy efficiency and renewable energy improvements on private property, on behalf of StoneCreek Real Estate Partners. The financing will help fund construction of The StoneCreek of Copperfield, a 104-unit redevelopment of the Copperfield Racquet and Health Club, a longtime landmark of Northwest Houston for more than 30 years. The 104-unit independent living, assisted living and memory care project was announced in January. The operator will be Civitas. While assisting StoneCreek in its search for financing alternatives, …

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NewsOperationsPeopleTexas

Buckner Retirement Services Names Shane Gabis as Executive Director of Community in Beaumont, Texas

by Jeff Shaw

BEAUMONT, Texas — Buckner Retirement Services has named Shane Gabis as the executive director of Buckner Calder Woods in Beaumont, located east of Houston near the Louisiana border. Gabis previously worked for senior living provider Life Care Services in various capacities, including the past 10 years as a community executive director. He also served as a team leader in operational reviews and as a health care administrator. Located in Beaumont’s growing west end, Calder Woods is a 17-acre community providing affordable senior living. The continuing care retirement community offers a …

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DevelopmentNewsTexas

Civitas, Journey Capital Break Ground on Harvest of Aledo in Texas

by Jeff Shaw

ALEDO, Texas — Civitas Senior Living, a senior living management company, and Journey Capital, a senior housing development company, have broken ground on the Harvest of Aledo Senior Living, a luxury independent living, assisted living and memory care community in Aledo, approximately 20 miles west of Fort Worth. The development marks the third collaboration between Civitas and Journey Capital and the second Harvest Senior Living development. The new, 68,000-square-foot community will be situated on 7.5 acres featuring 20 independent living villas as well as 67 assisted living and 24 memory …

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CaliforniaFinanceNews

Lument Provides $28M Fannie Mae Refinancing for La Vida Del Mar in Solana Beach, California

by Jeff Shaw

SOLANA BEACH, Calif. — Lument has provided a $28 million Fannie Mae refinancing for La Vida Del Mar, a 105-unit assisted and independent living community in Solana Beach, approximately 20 miles north of San Diego. The borrower is Senior Resource Group and its equity partner, Collins Development Co. Doug Harper of Lument’s Western region seniors housing and healthcare production team led the transaction. The loan features a 10-year term, five years of interest-only payments and 30-year amortization. In addition to refinancing existing debt, the closing provided cash-out proceeds.

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