Like other senior living executive directors across the United States, Max Rheinhardt III had to scramble last month as the Covid-19 crisis escalated. With this staff suddenly down by about half, he moved quickly to secure The Firs, an independent living community operated by MBK Senior Living. Now, the challenges remain intense, but they have […]
Ask the C-suite at any senior living provider to pinpoint the success of their operations and they will likely say it starts with a good executive director attached to a community. Max Rheinhardt III, executive director at The Firs, an independent living community in Olympia, Washington operated by MBK Senior Living, fits that description. The […]
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MedCore Partners completes $98 million portfolio acquisition in Utah, Arizona MedCore Partners, along with SunTrust Bank and Trinity Private Equity Group, acquired a 409-unit assisted living and memory care portfolio in four markets across Arizona and Utah. The total acquisition cost was $98 million. The communities include assisted living and memory care assets: Caliche Senior […]
After more than a decade leading MBK Senior Living, Terry Howard started an advisory firm and was not looking to get back into operations — until Harmony Senior Services came calling. Attracted in large part by the company’s integrated model — involving related private equity and development firms that work in concert with Harmony as […]
MBK Real Estate, the Irvine, California-based subsidiary of Tokyo-based Mitsui & Co., Ltd., has announced an agreement to acquire nine senior housing properties from West Living for $382 million. MBK Senior Living, the senior living division of MBK Real Estate, will manage the properties, which are located in California, Washington and Arizona. MBK Real Estate currently owns and/or […]
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: In progress $150 Million Senior Living Community Coming Together Near Denver Cappella Living Solutions will […]
Welltower Acquires CCRC in Florida for $130 Million Toledo, Ohio-based health care real estate investment trust (REIT) Welltower, Inc. (NYSE: WELL) has officially acquired Stratford Court of Boca Pointe, a 527-bed continuing care retirement community (CCRC) in Boca Raton, Florida, for $130 million, according to the South Florida Business Journal. The seller was Newton, Massachusetts-based REIT Senior Housing Properties […]
A new real estate investment trust (REIT) specializing in student and senior housing is undertaking an initial public offering (IPO), offering up to $1 billion in shares. The newly organized Maryland REIT, Strategic Student & Senior Housing Trust, is sponsored by SmartStop Asset Management, a diversified real estate company that has focused primarily on on self storage […]
Golden West Senior Living Sells Community to Chicago Investors Golden West Senior Living has announced the sale of Flatirons Terrace, a 54-unit independent living community in Boulder, Colorado, to Harrison Street Real Estate Capital, a private equity firm based in Chicago. Dial Retirement Communities, of Omaha, Nebraska, will operate the community. Financial terms of the […]
