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.
SEATTLE — Veda Living has taken over management of Emerald City Senior Living in Seattle, the company’s 14th community. The community is a 119-unit, multistory, private-pay community nestled near a highly sought-after residential area in west Seattle. It is positioned to serve middle-market seniors.
ILLINOIS and MISSOURI — Evans Senior Investments (ESI) has secured a tenant and executed a 10-year lease agreement for a large skilled nursing and supportive living portfolio spanning across Illinois and Missouri. The portfolio comprises 13 communities located totaling over 1,600 licensed beds. The lease consisted of a ten-year term with a purchase option. Evans Senior Investments selected a regional Midwest group as the tenant. Neither the tenant nor landlord were disclosed.
The Dec. 7 webinar “What Will 2024 Hold for Seniors Housing Investment & Acquisition Activity?” covered where the industry stands now and how experts are preparing to succeed in 2024. Webinar panelists listed factors like interest rates, wages, insurance costs, inflation, margin compression, resident move-ins and bank short sales as market indicators for the health of seniors housing. Learn their outlook and forecasts for what the industry may face in the new year. The speakers covered transaction activity, cap rate trends, capital availability and pricing, as well as the …
AURORA, Colo. — Anthem Memory Care has named Iva Prinsen as executive director for Chelsea Place in Aurora. In this capacity, she will oversee all daily care, programming and operations. Prinsen previously was executive director for Springbrooke Senior Living in Denver. She also served as the licensed nursing home administrator for Azria Health in Blue Hill, Nebraska. Prinsen brings over 35 years of senior living experience to this position. She earned a bachelor’s degree from Stevens-Henager College in Salt Lake City.
GENEVA, Ill. — Lifespace Communities has promoted Elijah Heyboer to executive director at GreenFields of Geneva, a senior living community in Geneva, approximately 40 miles west of Chicago. Heyboer originally joined Lifespace as administrator of the GreenFields’ health center in March before becoming interim executive director in September. Prior to joining Lifespace, Heyboer served as human resources director at Park Place of Elmhurst, a Providence Life Services senior living community, before becoming healthcare administrator, where he oversaw subacute rehab, long-term care, assisted living and memory care. Heyboer earned a bachelor’s …
Make sure the operator and general contractor work together as residents move in. By Chad Suitonu You, as the owner/developer of a brand new senior living community, just finished the grueling construction effort. Now it’s time to hand the building over to your senior living operator and sit back and make some rent money. But wait a second — your job as owner is not over yet. You’ll be involved with the project for months to come as the operator (specifically the executive director and facility manager) take over the …
GLASTONBURY, Conn. — LCB Senior Living has taken over management of The Hearth at Glastonbury in Glastonbury, just southeast of Hartford. The community will be renamed The Residence at Glastonbury. Further details on the property were not disclosed. LCB Senior Living has eight senior living residences across Connecticut, including in Avon, Darien, South Windsor, Rocky Hill, Stamford, Suffield and Westport.
MASSACHUSETTS — Evans Senior Investments (ESI) has negotiated a new tenant for an institutional landlord in the state of Massachusetts, finalizing a five-year lease for a 500-bed skilled nursing portfolio. The portfolio comprises five communities. Prior to the onset of COVID-19, the portfolio exhibited a stabilized annual revenue of $46 million and a census of 90 percent. At the time of marketing, the portfolio was 76 percent occupied and losing over $2 million in net operating income annually. However, the portfolio’s strong historical performance highlighted great potential to bring occupancy …
NASHVILLE, Tenn. — Distinctive Living has assumed management of The Village at Bellevue, an assisted living and memory care community in Nashville. The community features 69 units, including an 18-bed secured memory care neighborhood. New Jersey-based Distinctive Living currently operates 26 communities and has 20 under development via its development services platform (Distinctive Living Development LLC).