The senior living industry could be in need of over 200,000 new units by 2025, a figure that at current construction rates, remains out of reach presently. That projection comes from a recent article by the National Investment Center for Seniors Housing and Care (NIC) that highlights the impending gap between new development and impending […]
Category: Finance & Development
This article is available as part of your SHN+ membership While the end of the year is typically quiet for senior living industry news, one big move caught my eye as 2023 wound down. On Dec. 20, Retirement Unlimited (RUI) announced it is acquiring Brandywine Living, a deal that is set to create an operator […]
A continuing care retirement community (CCRC) with a history of financial woes is slated to change hands, with senior living company LCS poised to buy it. The community, known as Harborside and previously Amsterdam at Harborside, in March filed for bankruptcy for the third time in nine years, with LCS winning a five-day auction worth […]
Management Ciel assumes management of HarborChase of Princeton, rebrands Ciel Senior Living announced it has assumed management of HarborChase of Princeton. Now rebranded to Ciel of Princeton, the 120-unit assisted living and memory care community is located in Monmouth Junction, New Jersey and the second Ciel Senior Living has taken under management since July 2023. […]
While macroeconomic trends have dampened senior living deal activity in 2023, those involved in health services transactions should remain “cautiously optimistic” for 2024, according to PricewaterhouseCoopers International Limited (PwC). By mid-November, health service deal volumes dropped 13% compared to last year as interest rates, regulatory concerns, macroeconomic risk and valuation gaps drove headwinds throughout the […]
Acquisitions Unlock Health acquires SPM Group Unlock Health, a healthcare and technology and services growth platform, announced it has acquired SPM Group, a network of health and healthcare agencies. Among the agencies included in SPM Group are SPM, GLC, Dreamscape and Centretek from Corridor Capital, LLC. Financial terms of the transaction are not available at […]
Financings 2Life Communities issued $17.8 million bond MassDevelopment has issued a $17.8 million tax-exempt bond to 2Life Communities to demolish a vacant former rest home and build a new rental housing facility for seniors. The existing building, The Leland Home, was built in 1891 and was operated until it closed in 2020. The new building, […]
Acquisitions Onelife enters Chicago with seventh acquisition Family-owned developer and operator Onelife Senior Living entered the Chicago area with the acquisition of the former Springs of Vernon’s Hills Alzheimer’s Special Care Center. Following the acquisition, the community was renamed to The Laurel at Vernon Hills. According to a press release, Onelife retained all staff during […]
Senior living rental rents have been climbing at roughly double their pre-pandemic pace, increasing by about 6% to 6.7% year-over-year, depending on care type. Yet, senior living communities have become more affordable relative to some other residential options. That’s according to a recently released report on national senior housing trends for the second half of […]
Partnerships USAA, A Place for Mom announce joint relationship A Place for Mom has announced a partnership to provide senior living advisory services to USAA, a veterans services provider with 13 million members. According to a press release, A Place for Mom advisors will offer personalized guidance and recommendations based on knowledge of Veterans Affairs […]
Subscribe
Receive industry updates and breaking news from SHN