Merrill Gardens will go into 2020 a larger company with a new capital partner, thanks to a joint venture with ReNew REIT to acquire a 26-property portfolio of assisted living and memory care communities. The portfolio previously was owned by New Senior Investment Group (NYSE: SNR). On Nov. 1, the New York City-based REIT announced […]
One of the largest senior living providers in the nation is making a push to also have the most innovative assisted living care model. Hickory, North Carolina-based Affinity Living Group hired Dr. Kevin O’Neil as its chief medical officer (CMO) about eighteen months ago. O’Neil is no stranger to the senior living world. He served […]
As more senior housing and care providers get in the Medicare Advantage (MA) game, it is becoming increasingly clear that they are playing a team sport. A striking example comes from Minnesota’s Twin Cities, where 10 different providers have come together with a health insurer and a geriatric medical practice/care management organization to launch one […]
The senior housing development landscape is still strong, but many deals are taking longer to close and buildings are taking longer to fill up. Labor shortages are a primary culprit. “We’re seeing a lot of projects being pushed,” said Douglas Kimes, senior vice president/national director of healthcare for TCF Commercial Banking. He spoke Tuesday at […]
ORIX Corporation USA has agreed to acquire Hunt Real Estate Capital, in a move that will further position ORIX as a heavy-hitter in senior housing financing. ORIX USA — part of Tokyo-based ORIX Corporation — has been steadily building its presence in the senior housing space. In 2010, ORIX invested in major senior housing lender […]
Merrill Gardens is nearly doubling its size through the acquisition of Blue Harbor Senior Living, and is welcoming back a familiar face to lead the combined entity. Merrill Gardens has acquired Blue Harbor — a senior living management company — from private equity firm Fortress Investment Group for an undisclosed price, the Seattle-based senior living […]
Thanks in large part to dynamic pricing that took effect over the summer, Sabra Health Care REIT (Nasdaq: SBRA) just posted best-ever quarterly revenue and margin numbers for its joint venture portfolio of Enlivant senior housing communities. Irvine, California-based Sabra in 2017 acquired a 49% stake in the Enlivant portfolio jointly owned with private equity […]
Nonprofit senior living providers have historically driven innovation in the field, but there is some concern that they are being eclipsed in this regard by for-profit competitors that are controlling more market share, can bring capital to bear more quickly and have a higher risk tolerance. The differences between nonprofits and for-profits may not be […]
HumanGood CEO John Cochrane is not happy with the state of the nonprofit senior housing and care sector. Specifically, he believes that many nonprofit organizations are too complacent and risk-averse, resulting in the senior living industry becoming far too dominated by for-profit providers. “Look at the market share of who owns what today: independent living, […]
A Place for Mom’s new CEO, Larry Kutscher, is working to reinvent the company within two years, including by redefining its relationship with senior living providers. “I had a town hall the first day on the job and said, I don’t see why we call [senior living] communities partners. They’re customers,” Kutscher told Senior Housing […]
