MAPLE GROVE, Minn. — Grace Management Inc., a Maple Grove-based operator, has hired Abby Romaine as national director of sales strategy and development. In her new role, Romaine supports creating and implementing strategies to support the success of specific Grace Management senior living communities across the country. Romaine has worked in various industries, including healthcare, senior living and online media. She brings experience in fostering partnerships, education, strategic planning, enhancing sales strategy efforts and local professional collaborations.
News
GLENDALE, Ariz. — JLL Capital Markets has arranged financing for Inspira Arrowhead, a newly constructed seniors housing asset in Glendale, Arizona. The borrowers are funds managed by affiliates of Fortress Investment Group LLC and COGIR Senior Living. The amount of the financing was not disclosed. Inspira Arrowhead is a 187,393-square-foot, Class A community featuring 165 seniors housing units across three stories. Alanna Ellis and Alex Sheaffer led the JLL Capital Markets team.
KNOXVILLE, Tenn. — SRI Management, in conjunction with Bourne Financial Group, has acquired Trinity Hills of Knoxville. The community is located in the foothills of the Great Smoky Mountains in East Knoxville. It offers assisted living and memory care services. Further details were not disclosed.
The American Seniors Housing Association (ASHA) has relaunched an enhanced version of its Where You Live Matters consumer website (whereyoulivematters.org) that features a new tool to funnel leads directly to participating communities at no expense. The announcement by ASHA President and CEO David Schless came in an e-mail blast to association members on Monday. Schless wrote that the new and improved site continues to include educational information on senior living that consumers rely upon, but now offers some new features that include: • direct lead referrals at no cost to …
CHANDLER, Ariz. — Senior Living Investment Brokerage (SLIB) has arranged the sale of North Chandler Place, a 198-unit continuing care retirement community in the Phoenix suburb of Chandler. The property features 119 independent living, 16 assisted living, 28 memory care and 35 skilled nursing units. It was built in 1966 with additions in 2002 and 2007. The property totals 192,208 square feet on approximately 15.2 acres of land. The seller is a group of investors that will reinvest their proceeds in other core assets in the portfolios. The buyer is …
CareTrust REIT Funds $26.7M Mortgage Financing with Purchase Option on Tennessee Skilled Nursing Portfolio
SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NYSE:CTRE), a San Clemente-based REIT focused on skilled nursing properties, has funded a $26.7 million mortgage loan in connection with the borrower’s acquisition of a two-asset skilled nursing portfolio in Tennessee. The properties feature a combined total of 276 licensed beds. The borrower group under the loan is a regional healthcare real estate owner and investor. Affiliates of The Ensign Group Inc. (NASDAQ: ENSG) took over operations on May 1 pursuant to a new, long-term, triple-net master lease with the borrower. The loan …
DALLAS — The active adult subsector of seniors housing has officially emerged from its infancy as a commercial real estate market, but the specifics of the product type are still evolving as owners discover more and more about the incoming baby boomer residents. That was the message from CEOs in the sector, who spoke on a CEO panel titled, “Where the Active Adult Space Is Now, and What Comes Next?” at InterFace Active Adult, held April 18 at The Westin Las Colinas in Dallas. Panelists included Ben Burke, managing partner, …
KNOXVILLE and JACKSON, Tenn. — Berkadia has arranged the sale of two assisted living and memory care communities in Tennessee. Berkadia Seniors Housing & Healthcare, led by Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders, negotiated the 127-unit transaction on behalf of a publicly traded REIT. Mainstay Senior Living acquired the properties, which are located in the Knoxville and Jackson markets. Further details were not disclosed.
OHIO — Capital Funding Group (CFG) has provided a $65 million bridge loan to support the refinancing of a nine-facility senior living portfolio in Ohio. The portfolio includes one independent living facility, one assisted living facility and seven skilled nursing facilities totaling 709 beds. Craig Casagrande and Catherine Mansel of CFG originated the transaction. Further details were not disclosed.
SPRINGFIELD, Mo. — Spring Arbor Senior Living has promoted Susan Durr to senior vice president of divisional operations for the Midwestern region. Durr first entered the senior living industry in 2020, when she was hired by an operator of 23 senior living locations throughout the Midwest. In her new role, she oversees 13 communities across five states, based in Spring Arbor’s newest corporate location in Springfield. Durr is a Certified Public Accountant (CPA) and also holds a real estate salesperson license in the state of Missouri. She is a member …