Access Industries, a New York-based investment firm, has acquired a majority stake in Vancouver, Washington-based JEA Senior Living. In March 2019, Access purchased 10 JEA communities in Washington, Oregon, Texas, Tennessee and Indiana. Now, Access has invested in the JEA management company as part of an effort to expand its ownership and management of senior […]
Economic trends suggest that the senior living industry should prepare for pain. Low interest rates have become the new normal and could soon go even lower, and this will continue to hurt seniors’ ability to bankroll their retirements, former Federal Reserve Board Chair Janet Yellen said Thursday at the National Investment Center for Seniors Housing […]
Now in the fourth decade of his senior living career, Mike Brown is still thinking big — literally. Brown is chairman of Sterling Estates, a privately held senior living provider that has achieved high occupancy in a crowded market by securing large plots of land and building expansive communities with a focus on wellness. This […]
The title song to the musical Cabaret was most famously performed by Liza Minnelli — but it took on new layers of meaning when sung by Susanne Hinrichs. Hinrichs is an 89-year-old resident of Juniper Communities’ senior living campus in State College, Pennsylvania. She found herself performing Cabaret because Juniper is piloting an ambitious new […]
Older adults are not well-served by today’s retail banks, entrepreneur and former senior living executive Elias Papasavvas believes. He’s out to change that with his new venture, Second Act Financial Services — including by offering more attractive financing to help people move into senior living communities. Second Act had its soft launch on Tuesday, but […]
When Kris Engskov took a job with Starbucks in 2002, the iconic coffee purveyor was only a fraction of the size that it is today. “It was at the time a pretty small, entrepreneurial company that was values-oriented and thought it could change the industry and consumer tastes,” Engskov told Senior Housing News. “I see […]
Senior living provider Watermark Retirement Communities and real estate development firm Hines are teaming up on senior housing projects — and would like to involve wellness pioneer Canyon Ranch as well. The three companies were pursuing a highrise project in the Tanglewood neighborhood of Houston. That proposed 20-story tower met with pushback from area homeowners, […]
Since closing on their affiliation to start 2019, the Evangelical Lutheran Good Samaritan Society and Sanford Health have pursued a three-part strategy to realize the benefits of combining and achieve long-term success. Under financial pressure, the Good Samaritan Society laid off 100 people at its Sioux Falls, South Dakota national campus in 2017. Thanks to […]
About two decades after its founding, Louisville, Colorado-based Balfour Senior Living is entering a new era. With real estate investment trust Welltower Inc. (NYSE: WELL) as its capital partner, Balfour is primed to bring its high-end offering to the East Coast for the first time — which will be a homecoming of sorts for CEO […]
Real estate investment firm Harrison Street has raised $1.6 billion in equity for its latest fund, which will heavily target senior housing investments. Chicago-based Harrison Street hit the fund’s hard cap of $1.3 billion — exceeding the initial target of $950 million — and raised an additional $302.5 million in co-investment vehicles, the firm announced […]
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