Transactions & Financings: Brookdale Closes $250M Credit Facility; Lancaster Pollard’s $58M Deal Volume

Brookdale terminates $250M credit facility; refinances assets Brookdale Senior Living (NYSE: BKD) secured $267 million of non-recourse mortgage debt and terminated its $250 million revolving credit facility. The debt was obtained from Capital One, through Freddie Mac’s Capital Markets Execution Program. The financing includes $191 million of 2.89% fixed rate notes and $76 million of […]

Movers & Shakers: Thrive Names COO; Heritage’s New VP of Sales and Marketing

Movers & Shakers is brought to you by the Senior Housing News Job Board. Browse and apply to management and executive senior living jobs and positions from leading professional firms serving the industry. Employers can post single jobs, purchase job packages or our premium subscription that includes unlimited job posts and editorial coverage for one […]

CCRC Clare Oaks Reaches Agreement in Contentious Bankruptcy

Continuing care retirement community (CCRC) Clare Oaks will be getting a new management company and more assisted living units if a new Chapter 11 restructuring plan is approved. Located in the Chicago suburb of Bartlett, Illinois, Clare Oaks voluntarily filed for Chapter 11 bankruptcy protection in June 2019. Subsequently, Clare Oaks creditors’ committee battled with […]

ASHA: Federal Financial Support Coming Soon for Private-Pay Assisted Living Providers

Long-awaited federal financial support for assisted living providers is on the way, according to the American Seniors Housing Association (ASHA). Private-pay assisted living providers will have access “very soon” to the Department of Health and Human Services (HHS) Provider Relief Fund, an HHS official told ASHA leadership on a call Wednesday. The overall dollar amount […]

The Bottom Line: Cedarhurst Senior Living Gets ‘Back to Business,’ Nears 50-Community Mark

About 60 days ago, leaders at Cedarhurst Senior Living came to a realization, causing them to shift from crisis response to restarting enterprise growth on a foundation of operational stability. “We need to embrace the world we’re in and figure out how to operate within it, or fall behind and lose opportunities,” CFO Stephen Wertman […]

Future Leader: Jason French, Administrator, Western Reserve Masonic Community

The Future Leaders Awards program is brought to you in partnership with PointClickCare. The program is designed to recognize up-and-coming industry members who are shaping the next decade of senior housing, skilled nursing, home health and hospice care. To see this year’s future leaders, visit Future Leaders online. Jason French, administrator at Western Reserve Masonic […]

Healthpeak CEO: Maintaining Blue Chip REIT Status Vital as Covid-19 Persists

Healthpeak Properties’ (NYSE: PEAK) senior housing segment continues to struggle from the impact of Covid-19. But with a full quarter of operations during the outbreak under its belt, there are signs that the health care real estate investment trust (REIT) has entered the management phase of the pandemic. Occupancy declines are slowing on a sequential […]

How Zappos, Quicken Loans Inspired Bloom Senior Living’s Rebrand

The foundation for Bloom Senior Living’s rebranding was laid with separate emails the operator received from two different family members of the same resident in one of its South Carolina communities. If one complained that the food was too hot, the other complained that it was too cold, Bloom Acquisitions Director and General Counsel Bradley […]

Senior Living Distress Emerges, Smaller and Struggling Operators Hit First

In early March, five residents moved out of Rose Haven Assisted Living, a 28-bed assisted living facility in Merrimack, New Hampshire, right before the coronavirus pandemic swept across the U.S. The family-owned and operated facility already operated under tight margins. The loss of these residents — which were among the highest billed in Rose Haven’s […]