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Presbyterian Senior Living Names Kate Hershey as Chief Operating Officer

by Jeff Shaw

DILLSBURG, Pa. — Presbyterian Senior Living (PSL) has promoted Kate Hershey to chief operating officer. Hershey has been part of the PSL leadership team for the past six years, holding positions of senior executive director, regional director of operations, vice president of life plan services and senior vice president of operations. Hershey received her undergraduate degree from the Pennsylvania State University as well as her master’s degree in health administration. She is also a graduate of the Larry Minnix Leadership Academy (class of 2010), a licensed Nursing Home Administrator in …

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New Perspective Weldon Spring
DevelopmentMissouriNews

New Perspective Nears Completion of Community in Weldon Spring, Missouri

by Jeff Shaw

WELDON SPRING, Mo. — New Perspective has opened a leasing office at its new community in Weldon Spring, approximately 30 miles west of St. Louis. The community is scheduled to open this summer. “We are looking forward to the opening of our first location in the St. Louis area,” says New Perspective co-CEO Ryan Novaczyk. The community will offer independent living, assisted living and memory care services. The number of units was not disclosed.

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FinanceFloridaNewsSkilled Nursing

CFG Provides $17.3M HUD Financing for Two Skilled Nursing Facilities in Florida

by Jeff Shaw

FLORIDA — CFG, a subsidiary of CFG Bank, has provided two HUD loans totaling $17.4 million to refinance debt on two skilled nursing facilities in Florida. The facilities feature a total of 261 beds. Further details were not disclosed. Tim Eberhardt and Ava Julio of CFG originated the transaction.

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AcquisitionsAssisted LivingKentuckyNews

Berkadia Brokers Sale of 104-Unit Community in Florence, Kentucky

by Jeff Shaw

FLORENCE, Ky. — Berkadia has arranged the sale of a 104-unit assisted living and memory care community in Florence, approximately 10 miles southwest of Cincinnati.  Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders of Berkadia represented the seller, a publicly traded REIT. A private equity group purchased the asset for an undisclosed price.

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AcquisitionsFinanceMinnesotaNews

Helios Arranges $7.5M Financing Package for Minneapolis-Based Operator

by Jeff Shaw

MINNEAPOLIS — Helios has arranged a $7.5 million term loan and revolving line of credit for a Minnesota-based provider of specialty memory care services. Helios arranged the 18-month, interest-only financing in support of the borrower’s acquisition of a specialty memory care community in an affluent suburb of St. Paul.  The community was stabilized at the time of the acquisition and originally developed by the borrower in partnership with a Chicago-based private equity firm. Prior to the financing, the borrower leased the community from the seller. The financing was sourced through …

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NewsPeople

JLL Hires Daniel Schneider as Executive Director Focused on Seniors Housing

by Jeff Shaw

CHICAGO — JLL’s value and risk advisory platform has hired Daniel Schneider as an executive director within its seniors housing team.  Schneider, who is based in Philadelphia, will support JLL’s clients in making informed decisions and evaluating risk in the growing seniors housing market. In addition, he will act as the HUD practice leader for seniors housing and oversee all HUD assignments nationally for the value and risk advisory platform. Prior to joining JLL, Schneider served as a first vice president at CBRE, where he executed complex transactions and provided …

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AcquisitionsCCRCCompany NewsNews

Lutheran Senior Services, Diakon Agree to Merger, Creating 12th Largest Seniors Housing Nonprofit Nationally

by Jeff Shaw

ST. LOUIS and MIDDLETOWN, Pa. — Lutheran Senior Services (LSS), a faith-based, nonprofit operator based in St. Louis, has agreed to merge with Diakon Lutheran Social Ministries, a Middletown-based nonprofit operator. The agreement will bring Diakon’s senior living operations and four life plan communities under LSS management and form the 12th largest nonprofit seniors housing organization in the country, according to the two companies. The combined entity will features nearly $350 million in annual revenues across 12 life plan communities, one assisted living community and nine affordable seniors housing communities, as …

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CCRCDevelopmentIllinoisNews

Lifespace Completes $112M Expansion at Oak Trace in Downers Grove, Illinois

by Jeff Shaw

DOWNERS GROVE, Ill. — Lifespace has completed a $112 million expansion project at Oak Trace, a seniors housing community in Downers Grove, approximately 20 miles west of Chicago. The new building completed as the third and final phase of the project features 140 new luxury independent living apartments; a state-of-the-art fitness and aquatic center; a performing arts center; multiple restaurant-style dining venues; a salon and spa; and an upscale style coffee shop. The first phase of the renovation and expansion project, completed in 2019, was the creation of Oak Trace’s …

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DevelopmentNewsVirginia

Brinkmann Breaks Ground on 109-Unit Expansion at Avery Point in Richmond, Virginia

by Jeff Shaw

RICHMOND, Va. — Brinkmann Constructors, with Erickson Senior Living, has broken ground on a four-story, 109-unit residential building at Avery Point in Richmond. The 158,000-square-foot, wood-framed building is the seventh residential building constructed at the community. It is slated to welcome residents in the second half of 2025.

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