MADISON, Ga. — Vitality Living has formed a development partnership with Hillpointe LLC to build Vitality Living Madison, which is currently under construction. Upon full build-out, the project will feature 332 units of seniors housing in Madison, a small city approximately 60 miles east of Atlanta. Located on 73 acres, Vitality Living Madison will be built in phases. Phase I features a mix of two-bedroom independent living villas and one-bedroom apartments, as well as amenities such as a fitness center. Phase II will add assisted living and memory care units …
News
WASHINGTON, D.C. — Even more than three months into the COVID-19 pandemic, more than half of assisted living operators have less than a two-week supply of personal protective equipment (PPE) for staff. This is according to a recent survey by the National Center for Assisted Living (NCAL). Based in Washington, D.C., the organization is the assisted living arm of the American Health Care Association. The survey polled 375 NCAL members between June 10 and June 17. While more than 70 percent of operators have asked for help from state and …
EVANSTON, Ill., and CHAUTAUQUA, N.Y. — Mather and Chautauqua Institution have entered into a partnership to jointly implement research and programming to engage and enrich the lives of seniors, while also providing a forum to discuss critical issues. Through the partnership, residents of senior living communities across the U.S. are invited to engage in CHQ Assembly, a new video platform where subscribers can access lectures, worship, performances, visual arts and recreation programs on their desktop or laptop computers or on mobile devices and televisions. Chautauqua Institution, based in the Western …
NORTH PROVIDENCE, R.I. — Private equity investment firm Tryko Partners has been selected to acquire Hopkins Manor, a 200-bed skilled nursing facility in North Providence. Tryko will purchase the property out of receivership for $14.5 million. Tryko and its healthcare affiliate, Marquis Health Services, will assist Jonathan Savage of Shechtman Halperin Savage, the Rhode Island Superior Court-appointed special master for Hopkins Manor. Savage, with the facility’s team of caregivers and staff, has stabilized and successfully marketed the facility, culminating the court approval just seven weeks after the start of the …
ANNAPOLIS, Md. — Assisted living properties experienced a 90-basis-point decline to 85.2 percent stabilized occupancy in May 2020. This compares with 86.1 percent in April and 87.8 percent in March, the first full month of the COVID-19 pandemic. The data comes from the National Investment Center for Seniors Housing & Care (NIC), based on the Annapolis-based organization’s top 31 U.S. markets. In response to the coronavirus outbreak, NIC has started reporting data monthly rather than quarterly. The impact was less severe for independent living properties, which experienced a 60-basis-point decrease …
CHICAGO — Despite the struggles of the seniors housing industry during the COVID-19 outbreak, investors in the sector expect capitalization rates on transactions to increase. The expected increase applies to all types of seniors housing, as well as all from Class A to Class C. In all cases, investors predicted cap rates higher than their recent averages, but still lower than the most recent high. The results came from an update to the JLL Spring 2020 Investor Survey, meant to reflect changes in approach following the onset of the pandemic. …
MURFREESBORO, Tenn. — National Health Investors Inc. (NYSE: NHI) reported that to date in June the company has collected 99.4 percent of contractual rents. This percentage is slightly down from May, in which 100 percent of rents were collected, and April, in which 99.7 percent of rents were collected. The news comes despite depressed occupancy portfolio-wide due to the COVID-19 pandemic. Among the publicly traded REIT’s stable of operators, all have seen occupancy fall since March. Most operators have seen a decline in that period of approximately 200 basis points. …
CHARLOTTESVILLE, Va. — Commonwealth Senior Living has hired Michelle Hamilton as senior vice president of operations. Hamilton previously served as senior vice president of asset management healthcare for Colony Capital-sponsored NorthStar HealthCare Income. She began her career at Country Meadows Retirement Communities as an executive director and assumed additional roles and responsibilities throughout her tenure, which led her to the positions of senior vice president of operations and chief of senior living operations of the company, serving in that capacity until 2018. Since that time, she worked for The Arbor …
DHG Healthcare Promotes Kevin Locke to Managing Principal, Replacing Retiring Brad Benton
by Jeff Shaw
NASHVILLE, Tenn. — DHG Healthcare, the national healthcare practice of Dixon Hughes Goodman LLP, has hired Kevin Locke as managing principal. Locke succeeds Brad Benton, who is retiring. Locke was admitted to the DHG partnership in 2010 with the merger of the boutique strategy firm Charis Healthcare, which he co-founded. He is a healthcare strategist with executive experience in both strategic business planning and execution of implementation frameworks for academic medical centers, complex health systems and large physician enterprises. Most recently, Locke served as DHG Healthcare’s transformational solutions leader and …
GERMANTOWN, Tenn. — Ziegler has arranged $45.2 million in financing for The Village at Germantown, a continuing care retirement community in the Memphis suburb of Germantown. The community is located on a 27.5-acre site and features 230 independent living units, 32 assisted living units, 16 memory care units and 50 skilled nursing beds. The financing is a “Cinderella refunding,” meaning that taxable bank debt will convert to non-bank-qualified, tax-exempt debt in September 2022. The transaction refinances a previous bond issue from 2012. First Horizon provided the taxable loan with a …