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HDG Names Jennifer Martell as Vice President of People, Culture

by Jeff Shaw

MINNEAPOLIS — Health Dimensions Group (HDG) has hired Jennifer Martell has joined the organization as vice president of people and culture. Martell is responsible for leading the vision, strategy, development and execution of talent and culture programs for HDG’s managed communities. Martell has more than a decade of experience in leading senior living operations and human resources teams. Prior to joining HDG, Martell served as vice president of human resources and regional director of operations for a large senior living organization in the Midwest. Her areas of expertise include leadership …

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FeaturesNewsOperationsPeople

InterFace Panel: Staffing Remains Top Challenge for Seniors Housing Operators

by Jeff Shaw

LOS ANGELES — There have been plenty of challenges facing seniors housing in recent years, whether dealing with the effects of the COVID-19 pandemic, rising interest rates, rapid inflation or natural disasters. But while those all reflect outside influences and specific timeframes, one challenge is a constant: recruiting and retaining quality staff. “We all know all roads lead back to operations and operators at the end of the day — that’s what it’s all about,” said Dan Baker, director at JLL Capital Markets. “Labor and staffing are the biggest challenges …

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AcquisitionsAssisted LivingIdahoNews

BearRock Investments Buys Silvercreek Assisted Living in Idaho for $6.4M, Plans Workforce Housing Conversion

by Jeff Shaw

HAILEY, Idaho — Seattle-based BearRock Investments LLC has purchased Silvercreek Living, an assisted living community in Hailey, for $6.4 million. The buyer plans to convert the property into workforce housing. Hailey is a small city of fewer than 10,000 residents south of the Sun Valley-Ketchum metro area in Central Idaho. Located on McKercher Boulevard, the 24,600-square-foot asset consists of two 12,000-square-foot buildings, each offering 16 studio apartments and a large commercial kitchen. Paul Kenny of Paul Kenny & Matt Bogue Commercial Real Estate represented the buyer and undisclosed seller in …

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AcquisitionsAssisted LivingFloridaNews

SLIB Arranges Sale of 211-Unit Portfolio in Florida

by Jeff Shaw

BRADENTON and VENICE, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two seniors housing communities in Bradenton and Venice, both located on the Gulf Coast south of Tampa. The properties feature a combined 211 units of assisted living and memory care. The Bradenton asset was built in 1989, while Venice asset was constructed in 1998. The Bradenton property totals 74,786 square feet on approximately 7.62 acres of land while the Venice property totals 74,445 square feet on approximately 4.06 acres of land. The buyer is Florida-based …

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CaliforniaFinanceMissouriNewsVirginia

CareTrust REIT Provides $52M in Mezzanine Financings

by Jeff Shaw

SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NYSE: CTRE) has participated in the origination of over $52 million in mezzanine loans. The financings are secured by three portfolios of 26 properties comprising 3,050 skilled nursing beds and 186 assisted living units in Virginia, Missouri, and California. CareTrust’s participation in the Virginia and Missouri mezzanine financings was done alongside a co-lender: the Northwind Group. Northwind’s healthcare portfolio includes investments in nearly 200 skilled nursing facilities and senior living communities. CareTrust provided $35 million in mezzanine loan proceeds in connection with the …

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NewsPeople

2Life Communities Promotes Zoe Weinrobe to Chief of Real Estate

by Jeff Shaw

BRIGHTON, Mass. — 2Life Communities, a Brighton-based owner-operator, has promoted Zoe Weinrobe to chief of real estate.  In her previous role as director of real estate, Weinrobe led the creation of nearly 400 affordable apartments at 2Life while also overseeing the renovations of 2Life’s Golda Meir and Coleman Houses in nearby Newton. As chief of real estate, Weinrobe will lead the organization’s real estate development. 2Life is currently developing multiple large-scale projects including its middle-income housing model Opus Newton, a redevelopment of the J.J. Carroll Apartments in Brighton with the …

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AcquisitionsCCRCMassachusettsNews

HumanGood Completes Affiliation with Two-Property Pleasant Spring Communities

by Jeff Shaw

BOSTON — HumanGood, the nation’s seventh-largest nonprofit, has completed its affiliation with Pleasant Spring Communities, which oversees Springhouse and Mount Pleasant Home and has provided senior living in Boston for more than a century.  The plan was announced in August, but required regulatory and lender approval before it could be consummated. “Now approved, the affiliation between HumanGood and Pleasant Spring Communities will enable Springhouse and Mount Pleasant Home to enhance their operational efficiencies, streamline processes, and introduce innovative programs that further enrich the lives of residents while also providing more opportunities …

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AcquisitionsAssisted LivingIowaNews

ESI Arranges $13M Sale of Country Meadow Place in Mason City, Iowa

by Jeff Shaw

MASON CITY, Iowa — Evans Senior Investments (ESI) has arranged the sale of Country Meadow Place, a 56-unit assisted living and memory care community in Mason City, approximately midway between Des Moines and Minneapolis. An independent owner seeking to exit the industry sold the property to its existing operator for $13 million, or $232,142 per unit. The community was originally built in 1985 as a 36-unit memory care community. In 2013, Country Meadow was acquired and five years later underwent a 20-unit assisted living expansion.  At the time of marketing, …

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Active AdultColoradoDevelopmentNews

Headwaters Group Breaks Ground on 172-Unit Aspendale Centennial Active Adult Community in Colorado

by Jeff Shaw

CENTENNIAL, Colo. — Headwaters Group has broken ground on Aspendale Centennial, an active adult community in Centennial, a southern suburb of Denver.  The property will feature 172 units in a four-story, 203,653-square-foot building. Live Oak Bank provided construction financing, and a programmatic institutional equity partner provided equity.  “This is a meaningful project, as it will be our first ground-up development since Headwaters Group’s inception in 2022,” says Ben Burke, managing partner at Headwaters Group. The focal point of the community will be a two-story clubhouse, featuring 9,757 square feet of …

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AcquisitionsNewsOhioSkilled Nursing

Blueprint Brokers Sale of 118-Bed The Oaks of West Kittering in Dayton, Ohio

by Jeff Shaw

DAYTON, Ohio — Blueprint Healthcare Real Estate Advisors has brokered the sale of The Oaks of West Kittering, a skilled nursing facility in Dayton. The community was built in 1973 and features 118 licensed beds. A regional owner-operator sold the property as part of its shift to other asset classes. An owner-operator with a presence in Ohio purchased the facility for an undisclosed price. Connor Doherty and Ryan Kelly led the Blueprint team.

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