LOS ANGELES — Sherman & Roylance has arranged new leases for two skilled nursing facilities totaling over 150 licensed beds in downtown Los Angeles. Sherman & Roylance sourced a selection of competitive offers and recommended the new tenant.
SAN ANTONIO — 12 Oaks Senior Living has taken over management of The Inn at Los Patios, a 166-unit independent living and assisted living community in San Antonio. 12 Oaks, along with local nonprofit San Antonio Community Development Council, intends to complete a major renovation and upgrade to the community.
NEWTON, Mass. — ABP Acquisition LLC has agreed to acquire Newton-based operator AlerisLife Inc. (NASDAQ: ALR) for $1.31 per share, or $43.8 million, and take the company private. The price represents an 85 percent premium to the average stock price over the 30 days prior to the sale announcement, which was 71 cents per share. ABP is majority owned and controlled by Adam Portnoy, one of ALR’s managing directors and the chair of its board of directors. ABP and its affiliates currently own approximately 6.1 percent of ALR’s outstanding shares …
IRVINE, Calif. — Sabra Health Care REIT Inc. (NASDAQ: SBRA) has completed roughly $185 million of sales related to previously disclosed disposition activity. In addition, the 24 properties formerly leased to North American have been successfully transitioned to Ensign Group (NASDAQ: ENSG) and the Avamere Family of Companies. The disposition activity was almost entirely comprised of skilled nursing investments, including a sizable portfolio that sold for over $200,000 per bed. In aggregate, the cash yield on this disposition activity was approximately 7 percent for the 12-month period ending Sept. 30, …
FORT WAYNE, Ind. — Priority Life Care (PLC), a Fort Wayne-based operator, has promoted Mark Starks to senior vice president of operations, David Kloster to vice president of operations and Marisa Williams to senior director of sales and training. Starks is responsible for upholding the profitability and values of Priority Life Care by leading business strategy and operations. He works with the PLC leadership team to determine and develop business needs, goals and initiatives. He has over 15 years in the field and is a nurse and clinical trainer. Kloster …
ST. LOUIS — Chapters Living, a St. Louis-based assisted living operator, has hired Becky Kaufmann and Tyler Brady to its team. Kaufmann joins Chapters as the senior vice president of quality of life and memory support. With over 16 years of experience as a healthcare executive with an emphasis on senior living, Kaufmann will develop both the memory care programming and total quality management platforms. With over 13 years of financial analysis and strategy experience, Brady joins the company as senior vice president of strategic finance. He will lead the …
FRISCO, Texas — Ridgeline Management Co. has taken over operations of Parsons House of Frisco, renaming the property The Ridge at Frisco. The Ridge at Frisco is a three-story assisted living community that has served the Frisco area since 2001. The Ridge at Frisco is the fourth community added to the Ridgeline’s portfolio in recent months. It joins The Peaks at Millcreek in Salt Lake City; The Ridge at Oregon City in Oregon City, Oregon; and Ridge at The Stratford in Phoenix. These communities are a part of an aggressive …
PHILADELPHIA — It is common to hear operators proudly profess that it’s their culture that allows them to be top employers in the seniors housing industry, helping to face the massive labor shortage within the sector. However, “culture” can be a nebulous word, and employee surveys show that what employees say makes for a good culture is far different from what the employers believe, according to Charles Turner, CEO of shift-filling software platform KARE. Turner, a former president of two operators in previous positions, didn’t pull punches regarding the overuse …
FORT WASHINGTON, Pa. — Acts Retirement-Life Communities, a nonprofit operator based in Fort Washington, has added James Glynn, Heinz Hegmann and Dr. Daniel Middlebrooks to its board of directors. Glynn is co-founder (now retired) of GlynnDevins, one of the leading technology-enabled marketing agencies serving the senior living category. He is a frequent presenter at national and state trade associations. He started in senior living in 1981 as the vice president of marketing at John Knox Village. He holds a bachelor’s degree in economics from Rockhurst University. Hegmann is a retired …
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Webinar: What Will 2023 Hold for Seniors Housing Investment & Acquisition Activity?
In an uncertain time for the seniors housing industry, the “What Will 2023 Hold for Seniors Housing Investment & Acquisition Activity?” webinar focused on what’s influencing the landscape now and what is likely to affect it in the near future. The Dec. 8 panel discussion, hosted by Seniors Housing Business and sponsored by Valuation & Information Group, delved into tough topics like wages and staffing; inflation; the costs of debt and equity; government reimbursement; and other economic factors to illuminate what we can expect in 2023. Tune in …