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Claiborne Senior Living Adds Cory Rogers, Amber Thomas to Corporate Management Team

by Jeff Shaw

HATTIESBURG, Miss. — Claiborne Senior Living has hired Cory Rogers and Amber Thomas to its corporate management team. Rogers assumes the role of regional director of operations and is responsible for communities in Mississippi, Georgia and Louisiana. He comes to Claiborne from a seven-year stint with Enlivant Senior Living, where he oversaw management of 12 to 16 assisted living communities in Pennsylvania and West Virginia. Thomas joins the team as regional nurse consultant with nearly a decade of management experience in the healthcare field. Prior to joining Claiborne, she served …

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FinanceNewsOregon

CBRE Arranges Refinancing for 217-Unit Springs at Greer Garden in Eugene, Oregon

by Jeff Shaw

EUGENE, Ore. — CBRE National Senior Housing has arranged a cash-out refinance for The Springs at Greer Garden, a 217-unit independent living, assisted living and memory care community in Eugene. This transaction represents CBRE’s second financing of the property. CBRE originally secured construction financing for the community in 2015. Aron Will, Austin Sacco and Tim Root of CBRE National Senior Housing arranged the refinance on behalf of a joint venture between The Springs Living and Harrison Street. The amount of the loan was not disclosed. The developers completed construction in …

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FinanceIllinoisNews

Ziegler Structures $49.4M Acquisition Financing for Skilled Nursing Portfolio in Illinois

by Jeff Shaw

ILLINOIS — Ziegler served as exclusive capital structuring advisor in a $49.4 million debt placement on behalf of Symphony Care Network to finance the acquisition of a portfolio of four skilled nursing properties and one assisted living property in Illinois. Symphony has operated the Portfolio since 2012, which consists of 616 licensed skilled nursing beds and 109 assisted living units. Symphony’s overall portfolio totals 29 properties throughout Illinois, Indiana, Wisconsin and Michigan. The financing consists of two tranches: a $44.4 million senior secured term loan and a $5 million asset-backed …

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NewsOperationsTexas

Blueprint Negotiates Lease of 143-Bed Skilled Nursing Facility in San Antonio

by Jeff Shaw

SAN ANTONIO —Blueprint Healthcare Real Estate Advisors has negotiated a new lease for Blanco Villa Nursing and Rehabilitation, a 143-bed skilled nursing and long-term care facility in San Antonio. Built in 1967 and situated near San Antonio International Airport, the facility has the highest CMS rating in the area and is within 10 miles of three regional hospitals. As part of a larger portfolio, the REIT owner formerly had the property under a master lease with the previous tenant. The landlord sought a replacement operator to improve census and performance …

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Assisted LivingFeaturesNews

Survey: Over Half of Assisted Living Providers Won’t Survive Financially Another Year at Current Operating Pace Due to COVID-19

by Jeff Shaw

WASHINGTON, D.C. — More than half of assisted living providers say they won’t survive another year at the current operating pace due to the COVID-19 pandemic’s impact on both occupancy and expenses. That’s according to a recent survey by the American Health Care Association/National Center for Assisted Living (AHCA/NCAL), a Washington, D.C.-based association of healthcare providers. The survey polled 240 assisted living operators nationwide. Of the respondents, 56 percent said they would not survive another year, while 55 percent said they are currently operating at a loss. Nearly 80 percent …

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AcquisitionsCaliforniaNewsSkilled Nursing

Ensign Group Acquires 297-Bed Skilled Nursing Portfolio in Southern California

by Jeff Shaw

SAN DIEGO, FULLERTON and HAWTHORNE, Calif. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of three skilled nursing facilities in Southern California on a triple-net lease basis. The properties include Golden Hill Post Acute, a 99-bed facility in San Diego; St. Catherine Healthcare, a 99-bed facility in Fullerton; and Camino Healthcare, a 99-bed facility in Hawthorne. This acquisition brings Ensign’s growing portfolio to 231 healthcare operations, 24 of which also include assisted living operations, across 13 states. Ensign owns 95 real estate assets.

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Affordable HousingDevelopmentFloridaNews

Alliant Capital Building $12.5M Deer Creek Senior Affordable Community in Gainesville, Florida

by Jeff Shaw

GAINESVILLE, Fla. — Alliant Capital has started construction of Deer Creek Senior, a 62-unit affordable seniors housing community in Gainesville. Units will be reserved for residents over age 62 earning up to 60 percent of the area median income. Four units are reserved specifically for those who are homeless, survivors of domestic violence or persons with disabilities. The project is receiving $12.5 million in financing via 9 percent Low Income Housing Tax Credits. It is scheduled for completion in December 2021. Alliant Capital is working with Rural Neighborhoods on the …

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DevelopmentFinanceNewsTexas

Ziegler Arranges $22.1M Financing for Forefront Living Plano in Texas

by Jeff Shaw

PLANO, Texas — Ziegler has closed $22.1 million of bond anticipation notes for Forefront Living Plano. The financing comprises $20.6 million in tax-exempt notes sold publicly to institutional investors and $1.5 million in taxable notes placed with affiliates of the borrower. The proceeds of the financing will be used to finance the cost of acquiring an 18-acre tract in Plano and the preconstruction development costs of a new retirement community to be known as “The Outlook at Windhaven.” The new project is slated to include 180 independent living units, 32 …

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CCRCFinanceIllinoisNews

Clare Oaks CCRC in Illinois Emerges from Bankruptcy, Plans $5M Improvement Project

by Jeff Shaw

BARTLETT, Ill. — Clare Oaks, a continuing care retirement community (CCRC) in the Chicago suburb of Bartlett, has emerged from Chapter 11 bankruptcy with $40 million in reduced debt and plans for a $5 million capital improvement project. The property opened in 2008, but declared bankruptcy in June 2019. The process reduced its debt from $86 million to $46 million, and also installed a new operator in ER Senior Management IL LLC and a new board of directors led by Julie Boggess. “The goal of this rigorous process was to …

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