SOUTHFIELD, Mich. — American House Senior Living Communities, a Southfield-based operator, has hired Schekesia Meadough for the newly created role of vice president of quality and clinical operations. Meadough is responsible for the creation and implementation of nursing care and wellness strategies, policies, processes and programs across American House’s portfolio of more than 60 communities in five states. Prior to joining American House, Meadough served as the vice president of health and wellness LaSalle Group. She has served in leadership and nursing roles over the past 20 years. Her prior assignments …
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CHICAGO — Pathway to Living, a Chicago-based developer, owner and operator, has hired Mike Ulm as vice president of culture and brand loyalty. Ulm will be responsible for evolving and maintaining Pathway’s philosophy, culture and internal branding through the support, coaching and ongoing training of all team members. He will establish standardized tools to recruit, train, support, recognize and promote model. Ulm will also develop and implement customer loyalty programs. Ulm brings more than 30 years of experience in seniors housing. He recently ran an independent consultancy focused on improving …
MOUNT LAUREL, N.J. — Capitol Seniors Housing has opened Arbor Terrace Mount Laurel, an 88-unit seniors housing community in Mount Laurel. The 75,000-square-foot community offers assisted living and memory care services. The Arbor Company is the operator. Mount Laurel is an affluent suburb east of Philadelphia. The community is just east of the Interstate 295 interchange and the New Jersey Turnpike, making the community very accessible to the entire market area. Meyer Senior Living Studio designed the property.
Walker & Dunlop Funds $11M Bridge Loan for Supportive Living Facility Acquisition in Illinois
by Jeff Shaw
AURORA, Ill. — Walker & Dunlop Inc. has provided $11 million in bridge financing for The Vistas Fox Valley, a 136-bed supportive living facility in Aurora. The borrower was Cascade Capital Group, which used the funds to acquire the community. Supportive living is an Illinois program to offer assisted living services while still allowing for government reimbursement. Walker & Dunlop’s bridge lending program utilizes the company’s own balance sheet to offer short-term, non-recourse loans for properties that are being acquired or repositioned. Joshua Rosen and the bridge lending team structured …
LOS ANGELES — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 50-bed skilled nursing facility in the Los Angeles metropolitan area. A private real estate investor sold the community to an investor with a large California portfolio for $4 million, or $80,000 per bed. The specific name and location of the property were not released. The seller made $1.7 million in capital improvements to the property over the last three years, including adding 27 beds. Christopher Hyldahl, Gideon Orion and Kendra Gonzalez of Blueprint handled the transaction.
LADERA RANCH, Calif. — Strategic Student & Senior Housing Trust Inc., a public, non-traded REIT sponsored by SmartStop Asset Management LLC, has promoted Michael Crear to chief financial officer. In his new role, Crear is responsible for the implementation of accounting and financial management policies, as well as the Ladera Ranch-based company’s SEC and regulatory reporting. Previously, he served as vice president and controller of the REIT. Crear will continue to serve as vice president of accounting for the company’s sponsor, SmartStop Asset Management. Prior to joining the SmartStop family …
DENVER — Spectrum Retirement Communities has hired John Holcomb as medical advisor. In his role at Denver-based Spectrum, Holcomb will review and provide recommendations on all resident care policies and procedures and providing insight and expertise on resident care, safety, injury prevention and emergency preparedness programs. Holcomb is an internationally known trauma and acute care surgeon. He is a retired U.S. Army colonel, and has received the Lifetime Achievement Award in Trauma Resuscitation Science from the American Heart Association, the United States Special Operations Command Medal, and the Service Award …
Greystone Provides $71.3M HUD Refinancing for Massapequa Center Rehabilitation on Long Island
by Jeff Shaw
AMITYVILLE, N.Y. — Greystone has provided a $71.3 million HUD-insured loan to refinance Massapequa Center Rehabilitation & Nursing, a 320-bed skilled nursing facility in the Long Island village of Amityville. Fred Levine of Greystone originated the transaction. The financing carries a fixed rate, 30-year term and 30-year amortization. The refinancing enables the borrower to exit initial bridge financing used to acquire the property in November 2017, and to continue with renovations. Originally constructed in 1974, Massapequa Center has undergone $8.5 million in facility upgrades, including the installation of private suites …
DES MOINES, Iowa — LCS has hired Charles Murphy as executive vice president/senior managing director of development and real estate. Murphy’s career includes leadership roles at The Walt Disney Company, Security Capital Group, GE Capital and Hammes Co. In these roles, his responsibilities included development, acquisition, finance and asset management. Murphy will report to Joel Nelson, president and CEO, and is responsible for strategy and performance oversight of the LCS Development and LCS Real Estate companies for Des Moines-based parent company LCS. Murphy will join the organization in mid-February. “Chuck …
NATIONAL CITY, Calif. — NorthMarq has arranged the sale of Southern Highlands Independent Senior Living, a 151-unit independent living property in National City, just south of San Diego. Lincoln Avenue Capital acquired the community from Shefflin Investments for $22.1 million. The three-story building was constructed in 1999 on 1.03 acres. The units are a mix of studios and one-bedroom apartments. NorthMarq’s Southern California investment sales team of Kyle Pinkalla and Shane Shafer arranged the sale.