Locust Point Capital is preparing for a post-pandemic lending landscape. The Red Bank, New Jersey-based senior living investor and lender announced the closing of its second senior housing debt fund on Monday with $428 million. The fund exceeded its target and includes commitments from pension funds, endowments, foundations, insurance companies and wealth advisors. Nearly 75% […]
Welltower (NYSE: WELL) is improving its liquidity debt maturities situations. The Toledo, Ohio-based health care real estate investment trust closed a $750 million offering of 2.8% senior unsecured notes, due in June 2031. Welltower will use the net proceeds to redeem $340 million of outstanding 3.75% senior notes due March 2023, and $335 million of […]
“If we could have gotten out of December, we would have been largely unscathed.” Those are the words of The Springs Living Founder and CEO Fee Stubblefield, and they reflect what he said was the roughest month for the provider in the nearly 14-month fight against the coronavirus pandemic. December was the peak of the […]
Lifespace Communities CEO Jesse Jantzen had his work cut out for him when he joined the company in April 2020. He joined a nonprofit provider that entered into an affiliation with Texas-based Senior Quality Lifestyles Corporation (SQLC) in May 2019 — a merger that took a year in negotiations to complete. The SQLC affiliation brought […]
Earlier this month, Maplewood Senior Living accepted its first residents at Inspir Carnegie Hill, its luxury high-rise senior housing community in Manhattan. The project was supposed to open a year ago, but the coronavirus pandemic disrupted those plans, and the total cost of the development rose to around $315 million, Maplewood CEO Gregory D. Smith […]
Henry Ford Village announced on Tuesday that it agreed to a $69 million stalking horse bid — a move which signals a potential exit from Chapter 11 bankruptcy protection for the 1,038-bed nonprofit continuing care retirement community (CCRC) in Dearborn, Michigan. The bidder is MED Healthcare Partners, a provider of assisted living, skilled nursing services […]
Senior living’s shift toward greater clinical capabilities and integration across the care continuum is opening opportunities for providers to partner with primary care networks, physician-led accountable care organizations (ACO) and Medicare Advantage networks. Participating in value-based care could drive better outcomes for residents and their families, operators and investors. Covid-19 will only accelerate the push […]
Focus Healthcare Partners is adding more independent living to its senior housing portfolio. The Chicago-based health care real estate investor acquired four independent living communities in the metro Atlanta market, totaling 559 units, for $164.5 million. The communities are operated by Edmond, Oklahoma-based owner and provider, Mansions Senior Living. Focus purchased the portfolio through its […]
With 11 development projects in the pipeline and more to be announced soon, MorningStar Senior Living is in growth mode. Its new president, Mark Andrzejewski, is helping the Denver-based provider scale up while bringing a fresh perspective to the industry. In particular, he sees the potential to use real-time data more effectively, and he is […]
Like many nonprofit providers, Westminster Communities of Florida is balancing stability amidst Covid-19 pressures with maintaining its bond rating. And that may prove to be a greater challenge in 2021, even as there are signs that pandemic-related pressures felt by the industry could soon ease. Fitch Ratings, the New York City bond rating agency, is […]
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