Harrison Street Real Estate Capital’s $1.2 billion acquisition of 24 senior living communities formerly owned by Healthpeak Properties (NYSE: PEAK) and Gallaher Companies in early June was facilitated with loans from two large financial firms. Greystone placed and executed financing for the purchase of 16 of the communities in the portfolio. The package involved Freddie […]
Rental active adult communities were among the senior housing product types with strongest growth rates, prior to Covid-19 — and the segment proved to be very resilient throughout the pandemic. Active adult communities generated more interest from prospective renters, compared to independent living. Sales and marketing teams spent less time converting leads into move-ins. And […]
One word describes Argentum’s 2021 list of the 150 largest providers in senior living: Disruption. Acquisitions and divestitures across the industry resulted in several changes on the list: nearly 30 providers moved up or down 10 or more spots, or are new entrants. Among the top 10 providers on the list, Atria Senior Living rose […]
Senior living providers have found offering technology platforms to residents as an amenity is a driver in boosting occupancy, and the platforms are streamlining the workflows of employees. Residents, meanwhile, are now demanding a variety of content and experiences from providers to keep themselves engaged, and want video platforms in order to stay connected with […]
A Houston-based continuing care retirement community (CCRC) is the latest campus to file for Chapter 11 bankruptcy protection, as it aims to restructure $140.3 million in bond debt. The CCRC, The Buckingham, cited pressures stemming from multiple challenges including Hurricane Harvey in 2017 and the coronavirus pandemic, which impacted the community’s ability to attract new […]
LCS Development is making moves to accelerate its growth. Fresh off announcing the hire of Welltower (NYSE: WELL) alum Joe Weisenburger, the development arm of the LCS Family of Companies on Thursday announced a series of personnel moves. They are intended to leverage the organization’s experience and scale, to court new business opportunities in ground-up […]
Enso Village, the $300 million life plan community under development from Kendal Corporation, Greenbrier Development and the San Francisco Zen Center, now has the majority of its capital stack in place to begin construction. Chicago-based investment bank Ziegler closed on a $297 million bond debt package on behalf of the joint venture. The bonds were […]
Bridge Investment Group is taking steps to go public. The Salt Lake City-based real estate investment manager, whose portfolio includes senior housing, filed an S-1 registration statement with the Securities and Exchange Commission (SEC) on June 22. The firm’s senior housing portfolio totals 100 communities and 11,600 units across 30 states, with total senior housing […]
In early June, the Food and Drug Administration (FDA) approved the use of Aduhelm (aducanumab) to treat patients with Alzheimer’s disease — the first drug therapy in 18 years to receive approval. The approval is surrounded in controversy, however. In particular, much reporting on Aduhelm has centered on its cost and concerns about its efficacy […]
The Bottom Line: United Methodist Communities CFO Expects V-Shaped Recovery, Eyes Memory Care Growth
Covid-19 took United Methodist Communities on a wild ride with regard to occupancy, but CFO Bob Peterson expects to be moving in the right direction in 2021.. He compared occupancy trends to a roller coaster: rates fell with the initial outbreak wave in the spring of 2020; rebounded somewhat in late summer through fall, then […]
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