PGIM Real Estate provided a $460 million loan to help fund the acquisition and recapitalization of a 10-property senior living portfolio operated by Seattle-based Merrill Gardens. The announcement of this financing, made on Thursday by PGIM Real Estate, sheds further light on this deal. Previously, local news sources reported that certain communities had changed ownership, […]
AEW Capital Management
Recent local news reports suggest that Toledo, Ohio-based real estate investment trust Welltower (NYSE: WELL) has sold its stake in all 10 communities in its senior housing operating portfolio operated by Seattle-based Merrill Gardens. Public records in Santa Clara County, California, show that Welltower recently sold a Merrill Gardens community located in San Jose and […]
Blake Management Group (BMG) has named Scott Hames as its new COO. The appointment comes off a period of change for the company, including a split with one of its co-founders and the recent departure of its CEO, who joined one of its capital partners. Hames, who assumed the COO role in August, previously worked […]
While the Covid-19 pandemic will surely cause major disruptions in the short-term, the senior housing industry is still a good long-term bet if the economy rebounds relatively quickly. The conditions which have girded the senior housing market in recent years — changing demographics chief among them — are not expected to leave with Covid-19. At […]
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 and the annual SHN Awards Competition. Construction: Planned Sonata, AEW Plan Florida Community Sonata Senior Living and AEW Capital Management are […]
Sabra Health Care REIT Announces $430 Million Deal Sabra Health Care REIT (Nasdaq: SBRA) recently revealed a plan to buy 24 skilled nursing and transitional care units on the West Coast for $430 million. Read more at Skilled Nursing News. Sagora Senior Living Purchases Community in Kingwood, Texas Fort Worth, Texas-based Sagora Senior Living recently purchased the […]
Civitas Takes On Management of New Mexico Senior Living Community Civitas Senior Living, a Fort Worth, Texas-based senior living management company, will be taking over operations of Elan Santa Monica, an assisted living and memory care community in Albuquerque, New Mexico. The 113-unit property was developed by Titan Senior Living, the senior housing development arm of […]
AEW Raises $500 Million for U.S. Senior Housing Fund Boston-based AEW Capital Management recently raised about $500 million for its third U.S. senior housing fund, IPE Real Estate reported. AEW aimed for a total equity raise of $500 million, IPE noted, citing a consultant of a pension fund intending to commit to the fund. The total […]
Senior Living Investment Brokerage Facilitates Sale of Virginia Assisted Living Facility Glen Ellyn, Illinois-based Senior Living Investment Brokerage Inc. facilitated the sale of Lexington at Tazewell, a 42-unit, 33,480-square-foot assisted living facility in Tazewell, Virginia, for $2.15 million. The seller was the lender who had financed the renovations and then foreclosed on the developer. The buyer […]
Construction: Planned NHI, Bickford Senior Living Breaking Ground on Five New Projects National Health Investors, Inc. (NYSE: NHI) last week announced that its joint venture with Olathe, Kan.-based operator Bickford Senior Living will develop five senior housing communities in Illinois and Virginia. Each community will consist of 60 private-pay assisted living and memory care units […]
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