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MassachusettsNewsPeople

LCB Names Eileen Mahoney as Executive Director of The Residence at Boylston Place in Chestnut Hill, Massachusetts

by Jeff Shaw

CHESTNUT HILL, Mass. — LCB Senior Living has named Eileen Mahoney as the new executive director of The Residence at Boylston Place, an assisted living, independent living and memory care community in the Boston suburb of Chestnut Hill. With nearly 20 years of experience in senior living, Mahoney previously worked at The Current Weymouth, a Monarch Communities assisted living residence. She received her education in Business Management from Bunker Hill Community College and Northeastern University. She has also served as regional vice president for The Regus Group, formerly known as …

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AcquisitionsCaliforniaCCRCNews

CareTrust REIT Acquires Three CCRCs in Southern California for $60M

by Jeff Shaw

SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NYSE:CTRE), a San Clemente owner and developer of skilled nursing, seniors housing and other healthcare-related properties, has acquired three continuing care retirement communities (CCRCs) located in Los Angeles, Orange, and San Diego counties.  The portfolio totals 475 assisted living, skilled nursing and memory care beds/units. Bayshire Senior Communities, an existing CareTrust tenant based in Southern California, has taken over management of all three properties. The highest profile property of the three is Torrey Pines Senior Living in San Diego. CareTrust paid $32.3 million …

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AcquisitionsConnecticutNewsSkilled Nursing

SLIB Brokers Sale of 90-Bed Miller Memorial Community in Meriden, Connecticut

by Jeff Shaw

MERIDEN, Conn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Miller Memorial Community in Meriden, approximately midway between Hartford and New Haven. The 90-bed skilled nursing community also features 19 cottage-style apartment units. The campus was under nonprofit ownership since its inception. While the community was operating at a heavy loss during the marketing period, buyers were attracted to the community due to it being non-union and having an above-average Medicaid rate, according to SLIB. The seller is a nonprofit based in Connecticut that had owned and …

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NewsPeople

Presbyterian Senior Living Names Kate Hershey as Chief Operating Officer

by Jeff Shaw

DILLSBURG, Pa. — Presbyterian Senior Living (PSL) has promoted Kate Hershey to chief operating officer. Hershey has been part of the PSL leadership team for the past six years, holding positions of senior executive director, regional director of operations, vice president of life plan services and senior vice president of operations. Hershey received her undergraduate degree from the Pennsylvania State University as well as her master’s degree in health administration. She is also a graduate of the Larry Minnix Leadership Academy (class of 2010), a licensed Nursing Home Administrator in …

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New Perspective Weldon Spring
DevelopmentMissouriNews

New Perspective Nears Completion of Community in Weldon Spring, Missouri

by Jeff Shaw

WELDON SPRING, Mo. — New Perspective has opened a leasing office at its new community in Weldon Spring, approximately 30 miles west of St. Louis. The community is scheduled to open this summer. “We are looking forward to the opening of our first location in the St. Louis area,” says New Perspective co-CEO Ryan Novaczyk. The community will offer independent living, assisted living and memory care services. The number of units was not disclosed.

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FinanceFloridaNewsSkilled Nursing

CFG Provides $17.3M HUD Financing for Two Skilled Nursing Facilities in Florida

by Jeff Shaw

FLORIDA — CFG, a subsidiary of CFG Bank, has provided two HUD loans totaling $17.4 million to refinance debt on two skilled nursing facilities in Florida. The facilities feature a total of 261 beds. Further details were not disclosed. Tim Eberhardt and Ava Julio of CFG originated the transaction.

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AcquisitionsAssisted LivingKentuckyNews

Berkadia Brokers Sale of 104-Unit Community in Florence, Kentucky

by Jeff Shaw

FLORENCE, Ky. — Berkadia has arranged the sale of a 104-unit assisted living and memory care community in Florence, approximately 10 miles southwest of Cincinnati.  Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders of Berkadia represented the seller, a publicly traded REIT. A private equity group purchased the asset for an undisclosed price.

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AcquisitionsFinanceMinnesotaNews

Helios Arranges $7.5M Financing Package for Minneapolis-Based Operator

by Jeff Shaw

MINNEAPOLIS — Helios has arranged a $7.5 million term loan and revolving line of credit for a Minnesota-based provider of specialty memory care services. Helios arranged the 18-month, interest-only financing in support of the borrower’s acquisition of a specialty memory care community in an affluent suburb of St. Paul.  The community was stabilized at the time of the acquisition and originally developed by the borrower in partnership with a Chicago-based private equity firm. Prior to the financing, the borrower leased the community from the seller. The financing was sourced through …

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NewsPeople

JLL Hires Daniel Schneider as Executive Director Focused on Seniors Housing

by Jeff Shaw

CHICAGO — JLL’s value and risk advisory platform has hired Daniel Schneider as an executive director within its seniors housing team.  Schneider, who is based in Philadelphia, will support JLL’s clients in making informed decisions and evaluating risk in the growing seniors housing market. In addition, he will act as the HUD practice leader for seniors housing and oversee all HUD assignments nationally for the value and risk advisory platform. Prior to joining JLL, Schneider served as a first vice president at CBRE, where he executed complex transactions and provided …

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