ST. PETERS, Mo. — Watermark Retirement Communities has named Kathleen Nardoni as executive director of The Watermark at St. Peters. Nardoni has a 15-year career in senior living, including all levels of care, marketing and administration, with responsibilities for opening a new independent living community. She is a licensed senior living administrator and spent time in law enforcement earlier in her career. She holds a degree in criminal law.
DALLAS — If it’s a financial windfall they’re seeking by entering the ancillary services business, skilled nursing providers are joining the fray for the wrong reason and are setting themselves up for disappointment, say seasoned professionals. Instead, the successful players in the ancillary space are the ones who undertake a patient-centered approach — whether it’s the launch of a pharmacy or rehabilitation services firm or behavioral health facility — and map out a plan for taking their business to the next level. “The most important thing to think about is …
WYOMING, Mich. — Commonwealth Senior Living has acquired a seniors housing community in the Grand Rapids suburb of Wyoming. The buyer will rebrand the community as Commonwealth Senior Living at North Byron. This marks the third community for Commonwealth in the Grand Rapids area joining Commonwealth Senior Living at Grand Rapids and Commonwealth Senior Living at East Paris. The community currently features 102 assisted living and memory care units. Commonwealth Senior Living is planning a renovation of the community, primarily focused on enhancing the secure memory care neighborhood. The seller …
GARFIELD HEIGHTS, Ohio — EBSC Lending has provided a $51.8 million loan for the expansion of a senior living and skilled nursing community located in Garfield Heights, a suburb of Cleveland. The 294,083 square-foot project will add a four-story independent and assisted living building featuring 86 units. The expansion also includes a two-story skilled nursing building and a two-story health center with a physical and occupational therapy gym and memory care suites. Construction began in June 2021, and the new expanded spaces are slated to open in January 2025. The …
MINNEAPOLIS — Health Dimensions Group, a Minneapolis-based operator, has taken over day-to-day operations at Northern Lights Health Care Center and The Oaks at Northern Lights. HDG has been working closely with the communities’ teams since assuming operational oversight of Northern Lights Services on Feb. 1. In addition to Northern Lights Services, HDG manages 48 other senior living and care communities throughout the nation.
PHILIPSBURG, Pa. — Continuum Healthcare has agreed to acquire Windy Hill Village, a seniors housing community in the tiny Central Pennsylvania borough of Philipsburg. Presbyterian Senior Living (PSL) is selling the asset for an undisclosed price. The transaction is scheduled to close this summer. PSL has owned and operated Windy Hill Village since 2003. The community features 90 skilled nursing beds, 18 personal care beds and five independent living rental cottages. PSL says it is divesting of the community to invest more resources in its continuing care retirement communities as …
UTAH — CFG, a subsidiary of CFG Bank, has provided $16.3 million in bridge-to-HUD financing for the acquisition of two skilled nursing facilities. The properies, which are in Utah, support a total of 220 beds. The deal allowed the undisclosed borrower to expand its footprint into a new state. Further details were not disclosed. Tommy Dillon of CFG originated the transaction.
ATLANTA — On behalf of its investors, Hunt Capital Partners (HCP) has transferred ownership of Ashford Parkside Senior Residences to a nonprofit affiliate of the Housing Authority of DeKalb County. Located in Atlanta, Ashford Parkside is a mid-rise, mixed-income seniors housing community built in 2007. Following the end of 15-year recapture period in 2022, a collaborative effort ensued between the nonprofit and HCP to reach a mutually beneficial outcome regarding the property’s future. The decision provides the Housing Authority of Dekalb County greater capital flexibility surrounding all aspects of property …
CHICAGO — Ziegler has arranged the sale of a 100-plus-bed skilled nursing facility in a northern neighborhood of Chicago. Ziegler advised the seller, an Illinois-based nonprofit. A local operator acquired the asset for an undisclosed price. Nick Glaisner, managing director in Ziegler’s seniors housing and care practice, led the transaction with the support of Melanie Shaffer.
NEW YORK CITY — Dwight & Co. has expanded its seniors housing and healthcare financing solutions by successfully launching working capital revolving lines of credit, investing in new technology and broadening the depth of its healthcare team. The new team members include Paige Ela as managing director of healthcare finance and Itay Silverberg as director of analytics. Ela has over 20 years of experience working in healthcare at both public and privately held institutions, including SEC and FDIC-regulated firms. She joined Dwight following five years at Forbright Bank, serving as …