Surpass Senior Living Founder: We’re Offering Marriott Buildings at Hampton Inn Prices

Through years of developing senior housing properties, Matt Johnson grew frustrated with third-party management companies that were like the “JV squad” of operators. So, in 2015, he co-founded an operating company of his own, Surpass Senior Living. Surpass came out of the gate with five communities in the Phoenix metro area, which opened in quick […]

Senior Living Helps Drive Record Earnings for Ensign Group

The Ensign Group (Nasdaq: ENSG) reported its highest-ever adjusted earnings per share for the fourth quarter of 2018 on strong skilled nursing segment growth — but the results were also boosted by promising signs in the company’s expanding senior living portfolio. The Mission Viejo, California-based company reported earnings per share of 48 cents for the […]

Transactions & Financings: $120M Bond Financing for Spires at Berry College; NHI Acquires Holiday Community

The Spires at Berry College closes $120 million bond financing package The Spires at Berry College closed a $119.7 million bond financing deal, which will be used to fund the entirety of construction costs for the life plan community on the campus of Rome, Georgia-based Berry College.The tax-exempt bonds include $81.9 million underwritten by Ziegler […]

Multifamily Developer Lloyd Jones Launches Aviva 55 Senior Living Brand

Lloyd Jones is a real estate investment, development and management platform that has operated in the multifamily space since the 1980s, doing more than $750 million in projects in total. Now, the Miami-based firm is pursuing a senior living pipeline, developing “independent living-light” properties under the Aviva 55 brand. “In general, what we feel is […]

In the Pipeline: South Bay, SageLife Team Up in Pennsylvania; Clearwater Starts Work in Nevada

In the Pipeline is brought to you by the Senior Housing News Architecture & Design Awards. Sign up for the SHN Architecture & Design Newsletter from SHN for updates on architecture and design trends, the annual SHN Awards Competition. Construction: Planned South Bay, SageLife Join Forces for Pennsylvania Project South Bay Partners, through its joint venture with […]

Opportunity Zones Hold Untapped Potential for Driving Senior Housing Development, Investment

Created by the 2017 Tax Cuts and Jobs Act, “opportunity zones” hold immense promise for senior housing investment and development, particularly for more affordable options. However, senior housing appears to be an overlooked asset class so far, when it comes to opportunity zone funds and projects in the works. The 2017 law created qualified opportunity […]

Transactions & Financings: Ventas’ $1 Billion Paper Note Program, Welltower’s $400 Million MOB Acquisition

Ventas Announces $1 Billion Commercial Paper Note Program Ventas (NYSE: VTR) established an unsecured paper note program in the U.S. Unsecured notes are loans that are not backed by an issuer’s assets. Instead, they are supported only by the borrower’s creditworthiness, and have a higher rate of return. The program allows the Chicago-based health care […]

Real Estate Firm Waterton Acquires Controlling Stake in Pathway to Living

Waterton, a Chicago-based commercial real estate investor and operator, has bought a controlling interest in senior living developer and provider Pathway to Living. Also based in Chicago, Pathway’s portfolio consists of 32 properties across the Midwest, totaling 2,900 units. Financial terms of the deal were not disclosed. The deal deepens the relationship between two firms, […]

ORIX Closes $350 Million CLO, Includes Assisted Living Loans

In another sign of the rising popularity in collateralized loan obligations (CLO), Dallas-based financial services firm ORIX USA announced it closed on a $350 million CLO fund, with a sizable portion of the loans collateralized by senior housing. CLOs are pools of below investment-grade loans sold in pieces to investors. When loans are paid off, […]

In the Pipeline: Capitol Seniors Housing Starts Work Near Chicago; Leisure Care Opens in California

In the Pipeline is brought to you by the Senior Housing News Architecture & Design Awards. Sign up for the SHN Architecture & Design Newsletter from SHN for updates on architecture and design trends, the annual SHN Awards Competition. Construction: Planned Florida Community Plots Assisted Living Expansion Campo Felice, an active adult community in Fort Myers, Florida, is […]