Vitality Living Enters Active Adult Market, CEO Expects Decade of ‘Significant Change’

When Chris Guay founded Vitality Living, he was frustrated at the industry’s slowness to innovate, and he intended to push the envelope. Four years later, he and Vitality have been through twists and turns, including joining with new partners. But Guay believes the Brentwood, Tennessee-based company is in a strong position today, with a portfolio […]

Transactions & Financings: HJ Sims’ $111M Deal Volume; Chicago Pacific Founders’ Florida Acquisition

Sales and operator transitions Elevation Financial Group acquires Massachusetts assisted living community for $4M Elevation Financial Group acquired Wingate Residences at Brewster Place, an assisted living facility in Brewster, Massachusetts. The purchase price was $4 million and facilitated through Elevation Real Property Fund VII. The community ceased operations in 2019. Elevation plans to reposition the […]

Harrison Street Reportedly Raises $720M for Potential $2B Fund; Senior Housing a Target

Harrison Street has reportedly raised $720 million for a new fund to be invested in senior housing and other types of real estate. The fund ultimately could raise up to $2 billion, according to a Nov. 17 filing with the Securities and Exchange Commission (SEC). Chicago-based Harrison Street raised $720 million within 60 days and […]

LTC Properties Trims Operators’ Rent Escalation by Half in 2021

LTC Properties (NYSE: LTC) is offering a reduction on 2021 rent escalators for its operators, the company announced Thursday. The Westlake Village, California-based health care real estate investment trust (REIT) plans to reduce operators’ 2021 rent escalators by 50% in the form of a one-time rent credit.  LTC expects the escalation reduction will have an […]

Lenders, REITs See Ongoing Transformation and Uncertainty in Senior Housing

Occupancy and expense pressures related to Covid-19 will continue to adversely affect senior housing investment in the coming year, and are even tempering refinancing opportunities. And the pandemic will force more smaller owners and operators to exit the sector, frustrated by the operational intensiveness of the product type, compressed net operating income (NOI) and tighter […]

From Boise to Walla Walla: Why Smaller Markets Are Ripe for Senior Living Development

Big players in the senior living industry have for years targeted dense, populated markets for new projects or acquisitions — but these are far from the only opportunities out there. Other senior living companies have chosen the road less taken by focusing on less-dense secondary and tertiary markets such as Boise, Idaho; Omaha, Nebraska; and […]

Transactions & Financings: Capital Senior Living Sells Ohio Community; NHI’s $22M Development Loan

Sales and operator transitions Capital Senior Living completes $18M sale of Ohio community Capital Senior Living (NYSE: CSU) completed the sale of a senior living community in Canton, Ohio. The sale price was $18 million, and provided $6.4 million in net cash proceeds to the operator. Additionally, Capital Senior Living was retained by the new […]