News

Heavenrich & Co. Arranges Sale of Pathways Memory Care in Houston

by Jeff Shaw February 8, 2021

HOUSTON — Heavenrich & Co. has arranged the sale of Pathways Memory Care, a 60-unit skilled nursing memory care facility located in Northwest Houston. Pathways was built in 2014 on an 80-acre medical campus that includes the Kelsey Seybold Clinic and Villa Toscana, an 86-unit skilled nursing facility that Heavenrich sold in 2020. StoneGate Senior Living, a national owner-operator sold the property to an undisclosed buyer for an undisclosed price. In preparing for the sale, StoneGate converted the property to private pay, established a new operator and worked with a …

February 8, 2021

News People

Ryan Cos Promotes Jim McDonald To President of Great Lakes Region

by Jeff Shaw February 8, 2021

CHICAGO — Ryan Cos. US Inc., a Chicago-based commercial real estate services company, has promoted Jim McDonald to president of the Great Lakes Region. McDonald most recently served as senior vice president, market leader of the region. Tim Hennelly, past president of the Great Lakes Region, has elected to rejoin the development team to focus on new business and mentorship while McDonald will provide overall strategic vision and operational leadership for the region. McDonald joined Ryan in 1999, shortly after receiving his bachelor’s degree in construction management from the University …

February 8, 2021

Company News News People

Sunrise Names Jack Callison as CEO, Dan Guill Takes Over at Enlivant

by Jeff Shaw February 5, 2021

McLEAN, Va. — Sunrise Senior Living has appointed Jack Callison Jr. to the role of chief executive officer for Sunrise Senior Living. Callison was selected after an executive search by Ferguson Partners following the December 2020 announcement that Chris Winkle will be leaving the company effective April 1. Callison comes to Sunrise from the CEO position at Enlivant, where he’s served since 2014 and will continue to act as chairman of the board of directors. Enlivant’s current president and chief operating officer Dan Guill will take over Callison’s former post. …

February 5, 2021

Acquisitions California CCRC News

Bayshire Senior Communities Acquires Two Brookdale Properties in Southern California

by Jeff Shaw February 5, 2021

CARLSBAD and RANCHO MIRAGE, Calif. — Bayshire Senior Communities, a boutique senior living owner and operator, has acquired Brookdale Carlsbad and Brookdale Rancho Mirage, renaming the two communities as Bayshire Carlsbad and Bayshire Rancho Mirage. Both properties are continuing care retirement communities, each featuring 90 independent and assisted living units, 24 memory care units and 45 skilled nursing units. Carlsbad is located north of San Diego, and Rancho Mirage is part of the Inland Empire Bayshire is an owner-operator headquartered in Escondido, a suburb of San Diego.

February 5, 2021

Acquisitions News

Omega Acquires 24-Property Brookdale Portfolio from Healthpeak for $510M

by Jeff Shaw February 5, 2021

HUNT VALLEY, Md. — In a blockbuster transaction between publicly traded REITs, Omega Healthcare Investors (NYSE: OHI) has acquired 24 seniors housing communities from Healthpeak Properties (NYSE: PEAK) for $510 million. Brookdale operates the entire portfolio, which is located across Arizona, California, Florida, Illinois, New Jersey, Oregon, Pennsylvania, Tennessee, Texas, Virginia and Washington. OHI is taking on the in-place master lease, with total rent in 2021 of $43.5 million and a 2.4 percent annual escalator. The announcement came through Omega’s fourth-quarter earnings report, released late on Thursday, Feb. 4. Further …

February 5, 2021

Assisted Living Development Minnesota News

Lifespace Prepares to Open 21-Unit Expansion at Friendship Village of Bloomington in Minnesota

by Jeff Shaw February 5, 2021

BLOOMINGTON, Minn. — Lifespace Communities plans to open a healthcare center expansion at Friendship Village of Bloomington later this month. The project adds 16 assisted living apartment homes and five memory care suites to the senior living community, bringing the total communitywide capacity to 42 assisted living apartments and 32 memory care suites. The three-story building is equipped with a secure memory care courtyard. This phase is part of a larger $114.5 million communitywide expansion and redevelopment initiative. The overall project also includes a new independent living building with 93 …

February 5, 2021

Acquisitions Assisted Living Finance Massachusetts News

Oxford Finance Provides $23.5M Credit Facility to Prosper Life Care for Two Acquisitions in Massachusetts

by Jeff Shaw February 5, 2021

MASSACHUSETTS — Oxford Finance LLC has provided a $23.5 million senior credit facility and revolving line of credit to Prosper Life Care Inc. The proceeds were used for the acquisition of two assisted living/memory care facilities located in Massachusetts totaling 214 units. Further details were not disclosed.

February 5, 2021

Acquisitions Assisted Living News Texas

SLIB Brokers Sale of 167-Unit Portfolio in El Paso, Texas

by Jeff Shaw February 5, 2021

EL PASO, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of three seniors housing communities — SunRidge of Cambria, Cielo Vista and Desert Springs — in El Paso totaling 167 units of assisted living and memory care. The communities were built in 1995, 1998 and 2000 and maintained 89 percent, 87 percent and 90 percent occupancy, respectively, at an early point of the onset of COVID-19. The seller is a debt and equity capital provider looking to divest of a non-core market, while the buyer is a …

February 5, 2021

News Operations People

Arrow Senior Living Hires Four Regional Wellness Directors, Executive Directors

by Jeff Shaw February 5, 2021

ST. CHARLES, Mo. — Arrow Senior Living, a St. Charles-based operator, has hired Katie Cook and Mary Jane Harris as executive directors, and Crystal Parrish and Brooke Glenn regional wellness directors. Glenn is a registered nurse with more than 20 years’ experience in the hospital and healthcare industry. Before joining Arrow, she worked as both a post-surgical heart and lung nurse, and as executive director for a home healthcare provider. Under her new title, Glenn will provide coaching and support for 12 communities throughout Missouri, Illinois, Indiana and Iowa. Parrish …

February 5, 2021

Acquisitions Independent Living News Oregon

Livingston Street Capital Acquires King City Senior Village Near Portland

by Jeff Shaw February 4, 2021

KING CITY, Ore. — An affiliate of Livingston Street Capital has acquired King City Senior Village, an independent living community in the Portland suburb of King City, Oregon. This is the first West Coast addition to the firm’s active adult and independent living portfolio. The property was recently renovated. The number of units and other details were not disclosed. “We’re focused on identifying core, core-plus and light value-add communities throughout the country that facilitate the lifestyles today’s 55+ residents desire, based on our expertise in the active adult and independent …

February 4, 2021

Newer Posts

Older Posts