DES MOINES, Iowa — LCS, the nation’s third-largest senior living operator, has promoted GeLynna Shaw to the role of executive vice president of operations/senior living management. Effective Jan. 1, she will be responsible for supporting Chris Bird, president and chief operating officer, in leading the company’s operating activities. Shaw’s 25-year senior living career includes experience in finance, mergers, acquisitions and operations for both continuing care retirement communities (CCRCs) and rental communities. She joined LCS in 2018 as the senior vice president of operations for the rental division and has been …
IRVINE, Calif. — Sabra Health Care REIT Inc. (NASDAQ: SBRA), an Irvine-based investor, plans to transition a 24-property portfolio previously leased to North American Health Care Inc. to two of Sabra’s existing tenants: The Ensign Group (NASDAQ: ENSG) and the Avamere Family of Companies. Ensign will add 20 properties located in California to two master leases with Ensign operating companies with initial terms of 18 and 20 years, each with an accompanying corporate guarantee from Ensign. The initial annual rent attributable to the 20 properties will be $29.4 million, with …
TUCSON, Ariz. — 12 Oaks Senior Living has acquired the operations of Copper Canyon Memory Care & Transitional Assisted Living in Tucson. 12 Oaks Senior Living intends to expand and enhance the service offerings at this community while restoring stability and planning for long-term growth. Copper Canyon augments four other senior living properties that 12 Oaks currently manages for the same ownership group. The previous operator was not disclosed.
LITTLETON, Colo. — Anthem Memory Care has named Lebana Prahl as executive director of Willowbrook Place in the Denver suburb of Littleton. She will oversee all daily care, programming and operations. Prahl previously was executive director for HighPointe Assisted Living & Memory Care in Denver. She has also served as executive director for Highlands Assisted Living and Memory Care in Lakeland, Florida. Prahl graduated with a bachelor’s degree in music therapy from Colorado State University. She is a certified dementia practitioner and brings over 26 years of senior living experience …
SACRAMENTO and SCOTTSDALE, Ariz. — Cogir Management has acquired Cadence Living to form one of the largest operators in the United States. The transaction involves Cogir buying out the shareholders of Cadence. Both companies have a focus on the West Coast, and the combined total number of units will be approximately 8,000 across nine states. Based on the American Seniors Housing Association’s June 1 numbers, that would make the company the 21st largest operator in the country, between Merrill Gardens and publicly traded Sonida Senior Living. Cogir Management USA is …
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Steps to Help Small Seniors Housing Owners Prepare for a Sale
The seniors housing market has had its fair share of well-documented struggles, including plunging occupancies during COVID-19 and continuing labor challenges. Like the rest of the commercial real estate market, the sector is now confronting higher interest rates and recession. Despite those headwinds, investor demand for seniors housing assets remains strong, says Dawn Davis, an advisor specializing in seniors housing and skilled nursing with NAI Greywolf in Milwaukee. But sellers are only now grudgingly coming to terms with the fact that, because capital has become more expensive, the price buyers …
IRVINE, Calif. — Oakmont Senior Living, an Irvine-based operator with 44 communities located across California and Nevada, has promoted four employees to executive leadership positions within the growing company. Andrew Moret was promoted to vice president of culinary operations from director of culinary services. Bringing more than 20 years of restaurant experience, eight years working in senior living and strong leadership cultivated amongst his team, Moret strives to continue to elevate the senior living dining experience. David Odien was promoted to vice president of facilities management David Odien from director …
WASHINGTON, D.C. — The seniors housing industry needs to improve overall customer service to deliver a more engaging and enriching product, according to William Swearingen, senior vice president of Spectrum Retirement Communities, a Denver-based owner and operator that offers independent living, assisted living and memory care. The good news is there are no barriers to entry to fix the problem. “It doesn’t take a budget; we don’t have to have the massive cash flow right out of the gate to be able to make these changes in the buyer experience,” …
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Webinar: Let’s Talk About the Outlook for Seniors Housing Investment and Finance
Is there room for optimism in seniors housing? What does investor interest look like now? Learn about how interest rate increases are impacting seniors housing valuations, what a flight to quality means for different sectors, financing concerns and more. Watch the webinar here. Timestamps of major topics covered: (5:25) Impact of rising interest rates on seniors housing valuations (7:54) Effects broken down by sector: active adult, skilled nursing, assisted living (11:07) Financing in the current environment (13:21) Acquisition opportunities, plus deal flow and closing (18:10) Outlook for the market …
DALLAS —12 Oaks Senior Living, a Dallas-based operator, has add three to its solutions team. Nesley Fortenberry, who joins the team as a sales consultant, brings 10 years of senior living experience. She started her career as sales manager at a senior living community in Ponca City, Oklahoma, and was promoted to sales specialist. She was subsequently promoted to the role of regional sales specialist, covering 18 states. In her most recent position, Fortenberry was regional sales director responsible for 12 communities in Oklahoma, Texas, Illinois and Wisconsin. Jayme Tapia …