CHICAGO — Harborview Capital Partners, a commercial real estate finance, equity and advisory firm, has arranged a $32.4 million HUD 232/223(f) refinancing of a 210-bed skilled nursing facility in metro Chicago. The borrower is Chicago-based Legacy Healthcare. The loan features a 35-year term and amortization Ephraim Kutner, Jonathan Kutner and Eli Kutner negotiated the transaction.
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MESA, Ariz. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 160-bed skilled nursing facility in Mesa. The property was recently renovated and expanded, and is located near multiple medical centers that refer residents to the facility. A buyer with an existing footprint in the market acquired the asset for an undisclosed price. The transaction is part of a series of sales that Blueprint arranged for LTC properties, which is divesting its entire portfolio of Preferred Care facilities. Blueprint estimates the combined sales will total $78 million.
BONITA SPRINGS, Fla. — Discovery Senior Living has named Jeff Floyd as the company’s vice president of operations. Floyd joins Discovery Senior Living after serving the past five years at Chicago-based Enlivant, where he held a divisional role as senior vice president of operations. The move is intended to support Discovery Senior Living’s continued portfolio growth, as well as the enhancement of the company’s lifestyle and care services for residents as part of its new experiential-living philosophy. Floyd began his career at ManorCare, where he ascended to become a regional …
Springpoint Appoints Sonny Taragin as Vice President of Information Technology, Chief Information Officer
by Jeff Shaw
WALL TOWNSHIP, N.J. — Springpoint Senior Living has named Sonny Taragin as vice president of information technology and chief information officer. Taragin is responsible for all aspects of the organization’s technology, focusing on its platforms, operational effectiveness and long-term strategy. Taragin has over 20 years of information technology leadership experience within several healthcare industries. He served most recently as chief information technology officer with Mid-Atlantic Health Care in Maryland, where he led and supported the implementation of new networks, infrastructure, and a host of clinical and administrative applications. Prior positions …
AVENTURA, Fla. — Rieber Developments has broken ground on 12|12 Aventura, a 10-story mixed-use project featuring medical office, luxury senior residences and a food hall. The property is situated in Aventura, approximately 20 miles north of Miami. Arquitectonica designed the development, which will include a 30,000-square-foot gourmet marketplace and food hall, 25,000 square feet of office space and a 160-unit senior living component with a structured parking garage. The roof will feature gardens and micro-parks. Along with its sister project Ivory 214, the development will serve as the epicenter of …
IRVINE, Calif., NEWTON, Mass., and SAN CLEMENTE, Calif. — Three major REITs in the seniors housing sector, Irvine-based Sabra Health Care REIT, Newton-based Diversified Healthcare Trust (DHC) and San Clemente-based CareTrust REIT, have released their first-quarter reports, including updates on how the companies are handling the coronavirus epidemic. Sabra reported that it has “not seen a material disruption from the COVID-19 pandemic in the monthly payment of rents and have not utilized any deposits or other credit enhancements for payment of rent as a result.” The company suggests the positive …
GREEN SPRINGS, Ohio — Evans Senior Investments (ESI) has brokered the sale of of Eden Springs Garden Homes, a six-unit independent living community in Green Springs, a small village between Cleveland and Toledo. The property is part of the Eden Springs Healthcare & Senior Living campus, which was built in phases between 1963 and 2006. The larger campus was placed into receivership in January 2019. The court-appointed receiver sold the Garden Homes portion to an undisclosed buyer for $943,000, or $157,000 per unit. The six units were all occupied at …
NEW YORK CITY — A Place for Mom Inc. (APFM), a New York-based seniors housing referral company, has designed a virtual tour app with the goal of helping families and the senior living industry. The app delivers a platform for seniors and families to schedule and participate in live community tours, creating a digital experience. While the program was released to meet current needs during the coronavirus pandemic, APFM hopes it can be a permanent solution for the industry in the long term. “COVID-19 drove a digital revolution overnight and …
TOLEDO, Ohio — Welltower Inc. (NYSE: WELL), a Toledo-based REIT and the largest owner of seniors housing in the United States by number of units, has reported coronavirus-related expenses hit $7 million in March. Across the company’s 586 seniors housing communities, there were 1,044 confirmed cases of the virus as of May 1. The numbers came in Welltower’s first-quarter earnings report. Although 72 percent of the company’s seniors housing properties have zero cases of COVID-19, the majority of the properties that do have at least four cases. “The financial headwinds …
ALEXANDRIA, Va. — Argentum, an Alexandria-based national association serving senior living providers, has called for transparency in COVID-19 reporting among the states. “Since the beginning of the pandemic, we’ve been encouraging openness and transparency in reporting among our members and have shared our guidance on reporting and leadership communication,” says James Balda, Argentum president & CEO. A recent survey of Argentum’s members showed that 100 percent of respondents that had COVID-19 positive cases in their communities were reporting data to state agencies, families, staff and residents. In addition, nearly half …