The occupancy rate for U.S. senior housing communities remained about even in the first quarter of 2019, according to new data from the National Investment Center for Seniors Housing & Care (NIC). And construction starts appear to be slowing, suggesting an ongoing cooldown in new supply. Senior housing occupancy was 88.1% for the first quarter […]
Category: Finance & Development
HJ Sims arranges $92 million bond financing package for Lutheran Senior Services HJ Sims completed a $92.4 million refinancing package for Lutheran Senior Services (LSS). The proceeds will fund an expansion to LSS’ Mason Pointe community in Chesterton, Missouri, as well additional planned capital improvements at other communities within its portfolio. HJ Sims identified bonds […]
In an effort to win over the next generation of senior living residents, providers are beginning to rethink traditional models such as the entrance-fee continuing care retirement community (CCRC). One new alternative — the “micro-CCRC” concept being developed by Wilsonville, Oregon-based Avamere Companies — has encountered some construction delays but is on track to hit […]
Five Star Senior Living (Nasdaq: FVE) struck a comprehensive lease restructuring and ownership agreement with Senior Housing Properties Trust (Nasdaq: SNH), in a move aimed at immediately easing Five Star’s financial woes and restoring the provider to full health in the longer term. The deal will shift ownership of Newton, Massachusetts-based Five Star substantially to […]
Acts, Integrace complete affiliation Acts Retirement-Life Communities completed its affiliation with Integrace and its family of communities throughout Maryland this week. The affiliation brings together two nationally recognized names in the senior living industry under shared leadership and governance. The affiliation was first announced in January. The affiliation gives West Point, Pennsylvania-based Acts entry into […]
Baptist Health South Florida was exploring entering the senior housing space long before its groundbreaking partnership with Belmont Village Senior Living. The largest health care group in South Florida reached out to Dallas, Texas-based real estate capital market advisers Holliday Fenoglio Fowler (HFF) two years ago to learn more about senior housing, and to find […]
New Perspective Senior Living has a goal to serve 10,000 older adults by 2025, up from the roughly 2,200 residents it currently has. To help hit that milestone, the Eden Prairie, Minnesota-based developer, owner and operator has expanded its senior housing pipeline to hold as many as three to five new construction projects a year, […]
KeyBank provides $159 million in acquisition financing to ReNew Investors KeyBank Real Estate Capital Senior Vice President Laura Conway and Senior Vice President Brandon Taseff arranged over $159 million in financing to ReNew Investors and affiliated entities, for the acquisition of eight senior housing communities in Michigan, Pennsylvania and Virginia. The acquisitions were made over […]
While for-profit senior living providers are positioning themselves to thrive in the crucial years ahead, many not-for-profit providers are simply trying to survive the next decade. And there’s a good chance that many of those nonprofits could end up as acquisition targets, according to Tim Myers, CFO and COO at Rockville, Maryland-based senior housing and […]
The real estate capital markets landscape was shaken up Tuesday with the news that commercial real estate services brokerage JLL (NYSE: JLL) announced a definitive agreement to buy Dallas-based capital markets provider HFF (NYSE: HF) in a cash and stock transaction valued at $2 billion. Both firms are active players in senior housing and generated […]
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