The $350M IPO That Could Drive Senior Care Transformation

When the White House released its $2 trillion infrastructure plan on March 31, I thought the news could not have come at a better time for one company: InnovAge. Denver-based InnovAge is the largest provider of the Program of All-Inclusive Care for the Elderly (PACE), and last month executed a $350 million initial public offering […]

PACE Provider InnovAge Raises $350M in IPO, Sees Potential for Senior Living Initiatives

InnovAge (Nasdaq: INNV), which serves about 6,600 older adults through the Program of All-Inclusive Care for the Elderly (PACE), executed a $350 million initial public offering (IPO) on March 4. The Denver-based company is the largest PACE provider in the United States and has taken an out-of-the-box approach to the program through moves such as […]

Senior Housing: Build it and They Will Come?

Build it and they will come. At least that’s the philosophy of Maureen Hewitt, president and CEO of InnovAge, a nonprofit that offers affordable senior care solutions.  “While building apartments designed for seniors is a step in the right direction, we’re learning they can’t be built fast enough to meet the demand,” she writes in […]

In the Pipeline: Senior Housing Construction Projects (1/30/14)

Construction: Planned Granger Group Plans $25 Million Senior Living Community The Granger Group, a real estate developer based in Wyoming, Michicgan, announced it will build a $25 million, 130-unit senior living community on the campus of Metro Health Village, reports MLive. Plans for the four-story building include 70 independent living units, 40 assisted living and […]

Senior Housing Finance Activity: Berkeley Point Capital, Love Funding, Cambridge

Washington Trust Finances $5 Million ALF Washington Trust’s Commercial Real Estate Group provided $5,000,000 in construction financing to Scandinavian Home, Inc. for a 2,000 square feet addition to an assisted living facility in Cranston, RI as well as renovations to existing facilities. Founded in 1930, Scandinavian Home is a non-profit community located in the Edgewood […]

U.S. Bank Closes $22.4 Million of Financing for Affordable Senior Housing

A partnership between U.S. Bank and a Colorado nonprofit developer has paved the way for the construction of affordable senior housing apartments in the Denver area. U.S. Bank and InnovAge, a nonprofit organization serving Colorado’s aging population, announced yesterday that they have closed on a $22.4 million financing package that will create InnovAge Senior Housing-Thornton, […]