Cedar Communities, a recently formed senior living private equity firm and operating company, has been busy. Since July, Cedar has acquired five communities, providing momentum for further growth in 2020. Cedar was founded a little over two years ago and is building a portfolio of “boutique-sized” facilities in the U.S. Southeast, co-founder and Managing Director […]
Welltower, Invesco Announce $850M Joint Venture Welltower Inc. (NYSE: WELL) and global real estate manger Invesco Real Estate (“Invesco”) announced an $850 million joint venture partnership comprising a portfolio of 35 medical office buildings spanning 2.6 million square feet. The portfolio was previously wholly owned by Welltower. The properties are 100% affiliated with health systems […]
The year was 2011. After 23 years with Life Care Services (LCS), Jim Biggs had risen the ranks to vice president and was overseeing operations for 23 communities, when he decided to make a big change. He would join two other people to co-found a senior living company in China, and move there to get […]
As interest in the active adult apartment rental product rises, it is becoming something of a no-man’s-land, with both senior housing operators and multifamily developers attempting to stake their claim to the lucrative, promising space. According to new data and a new report from Senior Housing News, senior housing operators have no question as to […]
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 […]
“What do boomers want?” When it comes to housing, one answer is growing more than any other: active adult rental apartments. And the industry is taking notice, according to a new report from Senior Housing News. In an SHN survey of 120 senior housing professionals, administered in September 2019, a whopping 87% of respondents said […]
Prime Care refinances 13-property portfolio for $285M Prime Care Properties secured a $285 million refinancing package for its portfolio of 13 senior housing properties in Connecticut, Florida, Georgia, Maryland, New Jersey, North Carolina and Tennessee. The total portfolio consists of 1,081 assisted living, 301 memory care, and 85 skilled nursing units. Capital One closed on […]
National Health Investors (NYSE: NHI) President and CEO Eric Mendelsohn’s “worry list” is shorter now than it was this time last year thanks to progress made by several of its senior housing partners. The Murfreesboro, Tennessee-based health care real estate trust (REIT) saw a steady third quarter this year despite softening occupancy and rising wage […]
Better supply-demand dynamics helped Brookdale Senior Living (NYSE: BKD) turn its recent occupancy trends positive — and the company is betting that these conditions will persist into the years ahead, leading it to release a five-year outlook. However, the immediate picture is still mixed. The nation’s largest senior living provider was hit by high labor […]
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 […]