HJ Sims Arranges Closing of $15 Million Loan for Life Plan Community in Atlanta HJ Sims recently facilitated the closing of a $15 million revolving pre-development financing for a life plan community in Atlanta, Georgia. The community—Lenbrook—anticipates incurring up to roughly $15 million in pre-development costs for a planned expansion. The pre-development costs will mainly […]
Two-year-old provider Charter Senior Living plans to more than double the size of its portfolio in the next three years by switching its focus from acquisitions to ground-up developments. This means that, ideally, Charter will have 30 communities that it owns, leases or manages on a third-party basis by 2021, Keven Bennema, the founder, president and CEO […]
A new, non-traded real estate investment trust (REIT) with senior housing aspirations has arrived on the scene. The REIT, Upside Avenue, plans to start deploying capital at the end of September, Joy Schoffler, chief strategy officer at both the REIT and its affiliate—Austin, Texas-based private equity firm Casoro Capital—told Senior Housing News. Upside Avenue filed a […]
The United States is in the midst of an opioid epidemic that has lasted for years—and it’s become a concern in the senior housing industry. To avoid opioid misuse in senior housing communities, it’s important to ensure pain management is a team effort and that opioids aren’t the first line of defense against chronic pain, […]
Brookdale Senior Living (NYSE: BKD) has named a former telecommunications executive as its new CFO. Specifically, Steven Swain is set to join the nation’s largest senior housing provider as its executive vice president and CFO on September 4. He will replace Teresa Sparks, who began serving as Brookdale’s interim CFO when Lucinda Baier left the […]
New Senior Investment Group (NYSE: SNR) is distancing itself from external manager Fortress Investment Group (NYSE: FIG) and internalizing its operations, executives announced Thursday. The move is being made as part of the New York City-based real estate investment trust’s (REIT) ongoing strategic review process, which has not yet concluded, CEO Susan Givens implied during a call […]
Griffin-American Healthcare REIT IV Purchases 53-Unit Assisted Living Community in Missouri Real estate investment trust Griffin-American Healthcare REIT IV, Inc. recently acquired the 53-unit Pinnacle Warrenton Assisted Living Facility in Warrenton, Missouri, for $8.1 million. The seller was Warrenton Clearpath Property Investment, LLC, an unaffiliated third party represented by Senior Living Investment Brokerage’s Jeff Binder. […]
Like some of its peers in the senior housing space, National Health Investors (NYSE: NHI) no longer wants its tenants to “just use [it] as a checkbook,” according to President and CEO Eric Mendelsohn. Rather than triple-net, the Murfreesboro, Tennessee-based real estate investment trust (REIT) is currently looking out for RIDEA and joint venture opportunities, […]
Elder abuse “horror stories” and “walk-in tests” are often top of mind for seniors weighing a move into assisted living, according to a piece published August 6 by The Boston Globe. Specifically, some older adults are under the impression that only “depressing” facilities will accept seniors who require a high level of care. That’s the belief […]
Capital Senior Living Partners with Dallas-Based OneDay Capital Senior Living (NYSE: CSU) recently partnered with Dallas-based startup OneDay to digitally preserve the stories of residents at its 129 senior housing communities. OneDay’s mobile app is an interactive, personalized storytelling tool, according to a press release. Residents can choose a conversation topic on the app, and […]
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