CARLSBAD, Calif. — Integral Senior Living (ISL) and Solstice Senior Living (SSL), a joint venture of Integral Senior Living and NorthStar Healthcare Income Inc., have named Collette Gray as president and CEO and Jennifer Ferrer as CFO. In these positions, they will have C-Suite responsibilities for both ISL and SSL. “Bringing leadership of both ISL and SSL together allows us to streamline the services we provide for our communities and ensure both Integral Senior Living and Solstice Senior Living are receiving exceptional management, as well as having community-specific needs and …
News
Ziegler Arranges $35.7M Bond Financing for The Woodlands at Furman Expansion in South Carolina
by Jeff Shaw
GREENVILLE, S.C. — Ziegler has arranged a total of $35.7 million in bond financing for The Woodlands at Furman, a nonprofit continuing care retirement community (CCRC) in Greenville. The community opened in 2009 adjacent to Furman University on land leased by The Furman University Foundation. The property currently features 132 independent living apartments, 28 independent living villas (some of which are under construction), 32 assisted living apartments, 16 memory care units and 30 private skilled nursing units. The bond financing will fund an expansion at the property, adding 44 independent …
TOLEDO, Ohio — Welltower (NYSE: WELL) has agreed to sell a portfolio of seniors housing properties in California, Nevada and Washington for more than $740 million. The announcement was made on the company’s fourth-quarter earnings call on Wednesday, Feb. 12. Very few details have been released, however, with Welltower not disclosing the names, locations, buyers or number of properties. The portfolio was 97 percent occupied with a net operating income of $36.7 million in 2019.
MOORESTOWN, N.J. — Private equity investment firm Tryko Partners has acquired Lutheran Crossings at Moorestown, a seniors housing community featuring 201 beds of skilled nursing and a 63-unit assisted living campus. The property is located on 14 acres in Moorestown, across the Delaware River from Philadelphia. The price was not disclosed. The community is slated for a two-phase, $12 million improvement campaign under the new ownership. The property has been separated into its skilled nursing and assisted living pieces and rebranded as Cambridge Rehabilitation & Healthcare Center and Cambridge Enhanced …
BRIDGEWATER, N.J. — LCS has unveiled plans for an $8 million revitalization of Laurel Circle, an independent living community in Bridgewater, approximately 40 miles southwest of Manhattan. The community’s wellness center will see some of the most dramatic changes, according to LCS, including new gym equipment. In addition, LCS will add a new outpatient clinic to provide more health services. The plan also calls for upgrades to the community’s salon and lobby.
TUCSON, Ariz. — Watermark Retirement Communities, a Tucson-based operator, has hired John Toro as national director of capital and plant operations. Toro served as Watermark’s regional director of plant operations in the West and Southwest from 2015 to 2017. He has handled similar responsibilities for other providers during his two decades in the senior living field, most recently as national director of plant operations for Senior Lifestyle Corp. He will now be responsible for Watermark’s full, national portfolio. Watermark currently operates 60 communities, making it the 13thlargest operator in the …
SAN FRANCISCO — The American Society on Aging (ASA), a San Francisco-based association of more than 5,000 professionals seeking to improve the quality of life of older adults and their families, has appointed Peter Kaldes as chief executive officer. Kaldes was previously a leader and advocate in aging in South Florida as president and CEO of the South Florida Institute on Aging (SoFIA). Prior to joining SoFIA, Kaldes was a senior executive in JPMorgan Chase’s Office of Corporate Responsibility, where he managed a $20 million philanthropic program. Previously Kaldes was …
GILBERT, Ariz. — Green Courte Partners has acquired The Aspens at Mariposa Point, a 202-unit seniors housing property in Gilbert, just southeast of Phoenix. Despite only being opened last month, the new owner will convert the active adult community into full-service independent living. The conversion project will include expanding the dining area, modifying the existing kitchen and adding a third-party-operated home health office. Green Courte’s wholly owned operator True Connection Communities will manage the property. Green Courte made the acquisition through its fourth investment fund, Green Courte Real Estate Partners …
WIMBERLEY, Texas — Civitas Senior Living has opened the doors on Alexis Pointe Senior Living in Wimberley, a small city between Austin and San Antonio. Totaling 55,000 square feet, the property features 10 independent living cottages, 49 assisted living apartments and 24 memory care suites. The community is located a quarter mile from the Wimberley Senior Center and a half mile from Wimberley Town Square. Civitas now owns and operates 40 seniors housing communities, with 15 more under development.
MARYLAND — Monticello has provided $32 million in first lien debt financing for the refinance of a 177-bed skilled nursing property in Maryland. Monticello’s asset-based lending group, Monticello Commercial Capital, also added a $2 million working capital loan to the operating company. The borrower is an owner and operator with a current portfolio of 1,332 licensed beds. The name and location of the property were not disclosed.