The NIC Fall Conference is underway in Chicago and the deals are flowing like wine. Here are some recent transactions. Brookdale secures $160M credit facility Brookdale Senior Living (NYSE: BKD) secured a $160.3 million credit facility for a five-community, 945-unit portfolio in Alabama, Michigan, Pennsylvania and Texas. Brookdale has owned and operated the portfolio for […]
Category: Finance & Development
Bold new models of adult day services are beginning to enter the market, and senior living providers would be wise to take note. Their standard adult day offerings may lose luster in the face of these new options, but providers also may be ideally positioned to take advantage of a growing market opportunity. While many […]
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 […]
Sun Communities agrees to $343.6M mobile home portfolio deal Mobile home and recreational community real estate investment trust Sun Communities (NYSE: SUI) entered into an agreement to acquire an eight state, 31-community portfolio through a merger with Jensen Communities, for $343.6 million. The portfolio comprises of 5,230 developed sites and over 460 additional expansion sites […]
As developers seek to adapt offices, hotels, schools and commercial buildings into senior housing projects, one unlikely property type holds newfound appeal: former psychiatric hospitals. Across the U.S., a handful of senior living providers have opened or are building communities in mixed-use sites that once held asylums or similar institutions. Examples include Cordia at Grand […]
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. It […]
A senior living development firm has outlined a plan for new middle-market rental communities in the Tri-State Area of New York, New Jersey, and Connecticut, and perhaps beyond. Fairfield, Connecticut-based Senior Living Development’s new middle-market model calls for five-story, 60,000-square-foot communities with 120 beds for assisted living and memory care. Currently, the company has three […]
Senior living providers across the U.S. are reimagining the traditional outdoor amenity space — and in the process, sometimes shifting away from the typical real estate formula for maximizing investor returns. But there may be good reason for doing so. While outdoor amenity spaces don’t generate revenue like an occupied unit, they deserve much more […]
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 […]
White Oak acquires 4 property senior housing portfolio White Oak Healthcare REIT completed the acquisition of a four community, 482-bed senior housing portfolio which included two communities in Arkansas, one in Florida and one in Pennsylvania. The seller was Baltimore-based Capital Health Group (CHG), which retains a minority stake in the portfolio, completed renovations to […]