LAS VEGAS — Integral Senior Living has named Robert Sanderson as executive director of Escalante at the Lakes in Las Vegas. Prior to joining Escalante at the Lakes, Sanderson earned experience in the senior living industry as a memory care director. Escalante at the Lakes is located in the western portion of the city, near downtown Summerlin and a variety of hospitals, shopping and dining.
The June 29 webinar “Seniors Housing Success Stories — Companies that are Rising Above the Headwinds“ focused on what leading seniors housing firms are doing to alter their businesses, streamline operations, increase occupancy and strategize in terms of deal volume and investment. Industry difficulties, including labor shortages, inflation and interest rates, have highlighted the need for expertise and well-informed approaches to the seniors housing sector recovery. Click to watch this hour-long discussion that considers both operations and trends in transaction activity. See how strategies and outlooks have shifted since last …
MARSHFIELD, Wis., and RAMSEY, Minn. — Health Dimensions Group has taken over management of Stoney River of Marshfield and Stoney River of Ramsey. The two communities offer assisted living and memory support services. The owner is Stoney River.
Owners and operators test new strategies and scrutinize all expenses as the number of financially beleaguered assets multiplies. By Jane Adler Despite encouraging signs of a seniors housing turnaround, the challenging operating environment is creating an uptick of troubled properties in need of their own turnaround. The triple whammy of the pandemic, rising interest rates and higher expenses has hit the sector hard. Margins are squeezed and valuations are depressed. What’s more, the recent banking crisis and the growing prospects for a recession have added to financial pressures. “There’s a …
Well-thought-out art can improve resident health and increase property reputation. By Rochelle Mills As the president and CEO of Innovative Housing Opportunities (IHO), a developer of affordable and permanent-subsidized housing, I’m passionate about the beneficial role that art can play in uplifting the communities in multifamily housing developments, especially seniors housing. When I joined IHO in 2006, then-board president Mary Watson-Bruce, a Ph.D. in geriatrics, emphasized to me the importance of the arts on well-being, mental health, sense of calm, blood pressure and more for the senior population. At the …
From baking to disaster relief, a diverse background and passion for senior care informs this operator’s decisions. By Jeff Shaw To say that Caryl Ridgeway has a diverse background, or that she got an early start on her career, would be an understatement. Currently the CEO of Milestone Retirement Communities, a Vancouver, Washington-based operator founded in 2008, Ridgeway became a certified nursing assistant (CNA) at age 15. She was inspired by her visits to the local nursing home in Oklahoma City with her grandmother. That same grandmother also inspired Ridgeway’s …
GLENDALE, THOUSAND OAKS and FRESNO, California — Agemark Senior Living has taken over management at three seniors housing communities in California: Sage Glendale in Glendale, Sage Mountain in Thousand Oaks and Kingston Bay in Fresno. Ownership of these three communities is a joint venture between Mountain Capital Partners, Dekel Capital and Willis Development. Sophos Equities was the consulting asset manager for the transition. Agemark now having operates 29 communities. Agemark’s brands include Astoria, CountryHouse, Kensington-Evergreen, Holland Farms, Serra Sol, Symphony Pointe and TreVista.
PINE BLUFF, Ark. — Plains Commercial has arranged the lease of Davis West Nursing Home in Pine Bluff, approximately 45 miles south of Little Rock. The exiting operator is a nonprofit that made the decision to exit the skilled nursing operating business. After the bidding process, the landlord chose a Chicago-based operator. The facility was suffering from a depressed census that hadn’t fully recovered from COVID. Licensed for 177 beds, the facility offered the new operator significant upside through further lease-up and operational changes. The Chicago-based operator is taking on …
BAKERSFIELD, Calif. — JCH Senior Housing Investment Brokerage has brokered the lease negotiation of a skilled nursing facility in Bakersfield, approximately 130 miles north of Los Angeles. The previous regional operator decided it was time to sell its leasehold position and become the landlord. A growing local operator took over management at the property. “This particular asset is 100 years old, and it took a few attempts to identify the perfect buyer,” says Jennifer Contreras, senior vice president of JCH.
ALHAMBRA, Calif. — JCH Senior Housing Investment Brokerage has arranged the lease negotiation of a prominent assisted living facility in Alhambra, just east of Los Angeles. The facility, previously operated by a national operator, will now be under the management of a regional operator that specializes in low-income residents.
