Last month brought news that non-traded REIT Healthcare Trust would transition 20 senior living communities managed by Cedarhurst Senior Living to other operators. This portfolio change is part of a comprehensive effort that Cedarhurst is undertaking, which involves new strategies and operational practices shaped by the challenges and disruptions of the last two years. “We […]
Healthcare Trust Inc.
Depressed occupancy, staffing shortages, higher expenses, compressed margins, community age — these are some of the forces that have affected senior living valuations in the age of Covid. According to the latest data from senior housing and health care real estate advisory services firm HealthTrust, average senior living sale prices per unit dipped slightly last […]
Early in 2020, senior living operators had hoped the pandemic would result in only a temporary hit to margins. They are still under bottom-line pressure as the pandemic enters its third year. The industry is reeling from a one-two punch of depressed occupancy and elevated expenses, with inflation on the rise and workforce challenges leading […]
Healthcare Trust, Inc. (HTI) has transitioned operations of 20 senior living communities formerly managed by Cedarhurst Senior Living to Senior Lifestyle and Jaybird Senior Living. The public non-traded real estate investment trust (REIT) on Wednesday announced it has moved operations of 13 Addington Place branded communities in Georgia, Michigan and Florida to Chicago-based Senior Lifestyle […]
Welltower sells Florida assisted living facility for $56M Welltower (NYSE: WELL) sold Aston Gardens Assisted Living in Parkland, Florida for $55.7 million, The Real Deal Miami reports. The buyer was Kayne Anderson Capital Advisors. the property is operated by Discovery Senior Living. The property sold for $78 million in 2015. The latest sale marks a […]
HFF Advises on $115 Million Financing for Seattle Senior Housing Development Holliday Fenoglio Fowler, L.P. (HFF) has advised Columbia Pacific Advisors on the $114.69 million financing for a luxury, high-rise senior housing property in Seattle. The 24-story property—620 Terry—will offer 243 Class A residential units comprising 194 independent living units, 21 assisted living units and 28 […]
Healthcare Trust Appoints New Board Chairman The board of directors of Healthcare Trust, Inc. appointed Leslie D. Michelson to serve as non-executive chairman of the board, following the resignation of Randolph C. Read from that position and as a member of the board’s audit committee and nominating and corporate governance committee. “I am delighted to […]
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 […]