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AcquisitionsCCRCIllinoisNews

Continuum Advisors Arranges Sale of Friendship Village of Schaumburg in Illinois

by Jeff Shaw

SCHAUMBURG, Ill. — Continuum Advisors has arranged the sale of Friendship Village of Schaumburg, the largest senior living campus in Illinois.  Spanning over 60 acres in the affluent Chicago suburb of Schaumburg, approximately 30 miles northwest of downtown Chicago, Friendship Village offers 818 units/beds across a full continuum of care. The property was sold through a court-directed bankruptcy process, with a cash purchase price of approximately $35.6 million, plus other cash contributions including to former residents. The community offers 512 independent living apartments, 28 garden homes, 85 assisted living units, …

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AcquisitionsNewsOklahomaSkilled Nursing

ESI Brokers Sale of 95-Bed Skilled Nursing Community in Oklahoma

by Jeff Shaw

OKLAHOMA — Evans Senior Investments (ESI) has arranged the sale of a 95-bed skilled nursing community on behalf of a private owner-operator. The facility is located 85 miles south of Oklahoma City. The buyer was a private investor from the West Coast that has a long history of skilled nursing operations and property ownership. Subsequently, the new owner enlisted an operator from the surrounding area that aims to expand its footprint within the state of Oklahoma. Further details were not disclosed.

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AcquisitionsIllinoisNewsSkilled Nursing

SLIB Negotiates Sale of 491-Bed Skilled Nursing Portfolio in Metro Chicago

by Jeff Shaw

CHICAGO — Senior Living Investment Brokerage (SLIB) has arranged the sale of three skilled nursing properties in metro Chicago totaling 491 beds. The communities are the premier nursing homes in the area and include CMS 5-Star ratings and JCAHO accreditation, according to SLIB. The seller was a privately owned, family-run company that was looking to exit the skilled nursing space. After COVID and the evolution of the industry it became clear to the seller that this portfolio would thrive better with a new owner that had more communities with more …

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NewsPeople

Lenbrook Names Krista Cosgrove to Board of Directors

by Jeff Shaw

ATLANTA— Lenbrook, an independent seniors housing community in Atlanta, has named Krista Cosgrove to its board of directors. Cosgrove is principal at ZWJ Investment Counsel, an investment advisory firm. Cosgrove has provided investment counsel and guidance to companies and individuals for more than 30 years. She is a Chartered Financial Analyst (CFA) charter holder and a member of the CFA Institute and the CFA Society of Atlanta. Cosgrove holds a master’s degree in economics with a concentration in finance from Vanderbilt University and a bachelor’s degree in economics with minors …

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AcquisitionsFinanceMinnesotaNews

JLL Arranges Acquisition Financing for 321-Unit Portfolio in Metro Minneapolis

by Jeff Shaw

MINNEAPOLIS, PLYMOUTH and EDINA, Minn. — JLL Capital Markets it arranged the acquisition financing for three independent living, assisted living and memory care communities in the greater Minneapolis-St. Paul metro. JLL represented the borrower, an affiliate of The Inland Real Estate Group of Companies. The Waters Senior Living will continue to manage the communities for Inland and this transaction expands their relationship to four communities together. The portfolio comprises The Waters of Edina in Edina, The Waters of Plymouth in Plymouth and The Waters on 50th in Minneapolis. The three properties …

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FinanceNews

BWE Originates $26M in Financing for Four Communities

by Jeff Shaw

CULVER CITY, Calif.; NORTH ATTELBORO, Mass.; EAST CANTON, Ohio; and VERO BEACH, Fla. — BWE has arranged four financing transactions totaling over $26 million to refinance, build and preserve four seniors and affordable housing properties. In the first transaction, BWE arranged an $11 million refinancing for Palm Court Senior Independent Living in Culver City. The property is a 99-unit, age-restricted apartment complex. Max Sauerman originated the loan on behalf of Goldrich and Kest. The apartment building was completed in 1991.  In the second transaction, BWE arranged a $13.2 million acquisition …

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NewsPeople

Sabra Health Care REIT Appoints Jessica Flores as Chief Accounting Officer

by Jeff Shaw

IRVINE, Calif. — Sabra Health Care REIT Inc. (NASDAQ: SBRA) has appointed Jessica Flores as executive vice president, chief accounting officer and principal accounting officer. Flores currently serves as Sabra’s senior vice president — finance and controller, a position she has held since January 2022. She joined Sabra in March 2011 and held various leadership positions overseeing Sabra’s accounting during that time.  Flores has over 15 years of experience in accounting, finance and real estate investments, having previously worked for KBS Realty Advisors and Deloitte & Touche LLP.  Flores graduated …

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DevelopmentIndependent LivingMichiganNews

Resort Lifestyle Communities Opens 128-Unit Willow Pines in Northville, Michigan

by Jeff Shaw

NORTHVILLE, Mich. — Resort Lifestyle Communities has opened Willow Pines, an independent living community in Northville, approximately 25 miles northwest of Detroit. Willow Pines offers 128 apartments in studio, one-, two- and three-bedroom options. Resort Lifestyle Communities, founded in 2001 and based in Lincoln, Nebraska, develops all-inclusive, resort-style communities for adults age 55 and over.

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Company NewsFinanceNews

Brookdale Extends Debt Maturities with Two Financing Transactions, Sells Stake in Home Health Company

by Jeff Shaw

NASHVILLE, Tenn. — Brookdale Senior Living Inc. (NYSE: BKD), the massive, Nashville-based seniors housing operator, has completed two transactions that refinanced all of its remaining 2024 debt maturities. After giving effect to these transactions, the company’s next debt maturity without extension options is September 2025. The company has also made significant progress on a financing transaction involving 11 of its currently unencumbered owned communities, which it expects to complete in the coming months. Additionally, in December, the company sold its remaining 20 percent equity interest in its Health Care Services …

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NevadaNewsOperationsSkilled NursingTennessee

Ensign Group Takes on Operations of Two Skilled Nursing Facilities in Nevada, Tennessee

by Jeff Shaw

SPARKS, Nev., and HARROGATE, Tenn. — The Ensign Group Inc. (Nasdaq: ENSG) has acquired the operations of Hearthstone Health and Rehabilitation, a 125-bed skilled nursing facility located in Sparks, and TriState Health and Rehabilitation Center, a 116-bed skilled nursing facility located in Harrogate. Ensign will operate both properties under an long-term, triple-net lease. These acquisitions bring Ensign’s growing portfolio to 299 healthcare operations, 27 of which also include senior living operations, across 14 states. Ensign subsidiaries, including Standard Bearer, own 113 real estate assets.

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