WASHINGTON, D.C. — The Department of Health and Human Services (HHS) will begin accepting applications on Monday for a Phase III distribution of the Provider Relief Fund (PRF). The new round of coronavirus pandemic relief totals $20 billion, and assisted living is included in the list of eligible providers. HHS is providing the opportunity for providers that have already received funding to apply for additional funding based on financial losses and changes in operating expenses as a result of COVID-19. Also, providers that were previously ineligible, such as those that …
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TORRANCE, Calif. — Oakmont Senior Living has opened Oakmont of Torrance, an assisted living and memory care community in the South Bay region of Los Angeles County. Oakmont of Torrance is the first of several Oakmont communities to open during the 2020 pandemic. Guests at the grand opening event were required to RSVP, wear masks, social distance and follow safety precautions. The 106,613-square-foot community sits on nearly two acres and features 55 assisted living units and 32 memory care units.
PHILADELPHIA — HJ Sims has arranged $6.5 million in financing for capital improvements at Philadelphia Protestant Home (PPH). PPH operates a continuing care retirement community in northeast Philadelphia, featuring 266 independent living units, 175 personal-care units and a 126-bed skilled nursing facility. PPH has been funding capital improvements from general fund revenues. Prior to engaging PPH’s existing banking partner, Citizens Bank, Sims worked with the PPH Fiscal Oversight Committee to develop structuring options. Citizens provided the 10-year, fully amortizing loan with five years of interest-only payments.
Grandbridge Adds Allen McMurtry, David Kliewer, Jay Jordan to Seniors Housing Investment Sales Team
by Jeff Shaw
TAMPA, Fla. — Grandbridge Real Estate Capital has hired three to its Seniors Housing and Healthcare Finance Group. Based in Tampa, the team is led by Allen McMurtry, David Kliewer and Jay Jordan. All were previously with Cushman & Wakefield. The team has exclusively represented sellers of seniors housing communities across the U.S. since 1986, spanning over 190 properties sold in 35 states. Grandbridge’s Seniors Housing and Healthcare Finance Group offers construction, nonrecourse acquisition/bridge loans and permanent financing options to seniors housing owners nationwide. These latest additions will work closely …
Ziegler Arranges $47.8M Financing for Expansion at Pennybyrn CCRC in High Point, North Carolina
by Jeff Shaw
HIGH POINT, N.C. — Ziegler has arranged $47.8 million in bond financing for a planned expansion project at Pennybyrn at Maryfield, a continuing care retirement community (CCRC) in High Point, just southwest of Greensboro. Located on 72 acres, Pennybyrn currently features 180 independent living units, 24 assisted living units, 24 memory care units and 125 skilled nursing beds. The planned expansion will add 42 new independent living apartments, with 74 percent of them pre-sold, as well as a 24-bed transitional rehabilitation therapy building. The project will also include improvements to …
Nursing Homes Urge Congress to Provide Additional COVID-19 Funding for Health and Long-Term Care Providers
by Jeff Shaw
WASHINGTON, D.C. — The American Health Care Association and National Center for Assisted Living (AHCA/NCAL) has warned Congress that if the federal government doesn’t pass another COVID-19 funding package, public health agencies and healthcare providers could find themselves less than completely prepared heading into the cold and flu season, as well as underfunded to handle another major spike in COVID-19 cases. The Washington, D.C.-based organization represents more than 14,000 nursing homes and assisted living communities across the country that provide care to approximately 5 million people each year. About 70 …
POLK COUNTY, Fla. — Summit Contracting Group has broken ground on Siena Pointe, a seniors housing community in unincorporated northeast Polk County near Orlando. Siena Pointe will be a U-shaped, four-story, wood-frame building on a seven-acre site. The property will feature 163 units of seniors housing in a 194,127-square-foot building. Construction is slated for completion in fall 2021. The developer is Eastwind Development LLC and the architect is Forum Architecture & Interior Design Inc.
Dallas Retirement Village Starts Construction of 29-Unit Independent Living Expansion in Oregon
by Jeff Shaw
DALLAS, Ore. — Dallas Retirement Village, a seniors housing community in the Salem suburb of Dallas, has started construction of its Phase II expansion, known as Lodge Residences. The 60,000-square-foot project will complete the circle around the existing courtyard, adding 29 independent living apartments, an indoor pool, spa, fitness facilities and more. “Phase 1 was completed four years ago. Since then, we’ve continued to build a waiting list,” says Dave Parrett, the community’s executive director. “Having more apartments will make us more accessible to local seniors who would like to …
Covenant Living Appoints Jeannie Justie as Chief Financial Officer, Amy LaCroix as Senior Vice President
by Jeff Shaw
SKOKIE, Ill. — Covenant Living Communities and Services, a nonprofit, faith-based operator headquartered in Skokie, has named Jeannie Justie as chief financial officer and Amy LaCroix as senior vice president of community operations. Justie comes to Covenant Living with more than 20 years’ experience in healthcare finance, most recently working for a Chicago-area health system with 19 hospitals. In her role, she will work collaboratively with senior leadership in the areas of organizational and financial strategy, financial management, planning, analysis and operations. She is a C.P.A. and received her bachelor’s …
HOUSTON — Kare, a digital labor marketplace for post-acute and senior care based in Houston, has hired Steph Kolbo as chief growth officer. Kolbo joins Kare after a decade at NRC Health, a healthcare customer intelligence company. She led growth strategy for the company’s post-acute care division (including senior living) and most recently helped lead customer strategy for health systems. At Kare, Kolbo will help build on the company’s customer and geographic growth, while also building alliances with nursing and vocational schools.