On Thursday, Health Care REIT announced it was buying out Merrill Gardens’ equity stake in 38 senior housing properties for $173 million and entering a triple-net lease with Emeritus Senior Living to manage the portfolio, leaving Merrill Gardens with 26 communities and big reinvestment plans. The move to sell its interest in more than half […]
Leisure Care
Seattle-based Merrill Gardens announced on Monday the hiring of Tana Gall as president and Jason Childers as senior vice president, effective immediately. Both Gall and Childers were formerly the president and senior vice president, respectively, of Leisure Care, also based in Seattle. Merrill Gardens’ former president Bill Pettit has moved on to lead R.D. Merrill […]
Senquest Senior Living Buys Ohio Community for $12 MIllion Senquest Senior Living, the senior housing business of Titan Real Estate Investment Group Inc., recently acquired an independent and assisted living property near Akron, Ohio for $12 million. Liberty Residence I and II have a total of 137 units which were 91% occupied at time of […]
Washington, D.C.-based asset management company The Carlyle Group recently acquired a senior living community in Jacksonville, Fla., for $19 million, reports the local Business Journal. The community, Brighton Bay, was sold by a subsidiary of Wells Fargo & Co. (NYSE:WFC). Third-party management company Leisure Care has been brought on to operate the community. Written by Alyssa […]
Third-party management company Leisure Care has seen its operations portfolio grow 20% in the last year with the addition of Brighton Bay, recently acquired by The Carlyle Group. Since May 2011, Leisure Care has added eight communities to its management portfolio. Brighton Bay, a 185-unit senior living community located in Jacksonville, Fla., marks the company’s […]
Here’s SHN’s second-edition roundup of some of the companies who have recently been in the national spotlight in recognition of their achievements, whether for design and architecture, construction, management, or technology implementation. Got awards? Send them to [email protected]. (SHN reserves the right to choose to publish award announcements at its sole discretion.) 1. Greystone Healthcare Management(R) […]
The Assisted Living Federation of America (ALFA) recently announced the winners of its fifth annual Best of the Best Awards, which recognizes forward-thinking companies in or related to the senior living industry for innovative programs and services they’ve implemented. The awards encompass eight categories, listed below with the winner of each: Resident Health & Wellness—Senior […]
Seattle-based senior housing management company Leisure Care recently took over the management contract of a five-property portfolio of Texas independent living communities, marking a 17% growth for the company’s management portfolio. The contract is for all of The Conservatory Senior Living’s retirement communities, and includes 1,053 apartments. Leisure Care now manages more than $1.5 billion […]
There’s a growing need for professionals trained in the senior living industry, and top-level executives are recognizing this with both time and money, notes Washington State University, following its addition of a senior living management class to its undergraduate curriculum. Each week, company professionals drive or fly the nearly 300 miles from Seattle to WSU […]
Atlanta-based Formation Development Group and an affiliate of Washington, D.C.-based The Carlyle Group recently acquired a Georgia senior living facility in a joint venture transaction for an undisclosed price. Senior Capital Advisors brokered the sale. “The combination of Formation Development, being based in the Atlanta market and with its extensive development experience, and The Carlyle […]
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