Senior Living Dealbook: Jaybird Grows in Colorado; Town Lane, Arcole Partners Complete Sixth Investment 

Transactions

Jaybird grows in Colorado

Jaybird Senior Living has added two communities to its portfolio with Sunshine Gardens in Durango and Grand Villa in Grand Junction.

Sunshine Gardens is an assisted living and memory care community. Following the acquisition, Jaybird will “build upon the community’s established reputation while introducing its people-first operational philosophy and hospitality-driven approach to senior living management,” a press release states.

With Grand Villa, Jaybird “plans to honor the community’s established culture and relationships while supporting continued operational excellence and resident satisfaction,” according to the release.

Town Lane, Arcole Partners make sixth senior living investment

Berkadia announced its involvement in the sale of Grand Living at Tuscan Lakes, a senior living community in League City to Town Lane and Arcole Partners.

The transaction marks Town Lane’s sixth senior housing investment through its $1.25 billion real estate fund in partnership with Arcole and is part of its strategy to “acquire newer vintage, full-continuum communities in high-growth markets.,” according to a press release.

The 186-unit community was opened in 2023 and was sold by Bow River Capital, a Denver-based private alternative asset management company, and Ryan Companies, who developed the community, the release states.

Senior Managing Directors Ross Sanders, Dave Fasano, Cody Tremper and Mike Garbers of Berkadia Seniors Housing & Healthcare closed the sale. 

Financings

Welltower board approves 15% increase in quarterly dividend

The Welltower board of directors announced it expects to raise its quarterly dividend by 15% to 85 cents per share.

“This action not only reflects the company’s low dividend payout ratio driven by strong cash flow per share growth in recent years, but also the board’s confidence regarding outsized levels of growth in the coming years supported by extraordinary balance sheet strength,” Shankh Mitra, Welltower’s CEO, said in a press release.

Welltower is expected to grow through “digital transformation of our portfolio through the Welltower Business System, our end-to-end operating and technology platform, and an expanding capital deployment opportunity set,” Mitra added in the releases.