New Welltower CEO Commits to Strategic Direction, His Biggest Concern Eases

Welltower (NYSE: WELL), the nation’s largest owner of senior housing properties, will not be changing its strategic direction under its recently named CEO, Shankh Mitra. “Many of you have asked me if our strategy will change going forward — the answer to that question is an emphatic no,” Mitra said Thursday during the Toledo, Ohio-based […]

Merrill Gardens President: Google Nest Initiative Has Made Me ‘A Believer’ In the Tech

The Covid-19 pandemic has drastically accelerated the adoption of technology within senior living, with communities across the nation rapidly implementing a variety of tools. One of the most high-profile tech rollouts of 2020 has been occurring at buildings operated by Merrill Gardens, where Google has been deploying Nest Hub Max devices with adaptations for older […]

PGIM Real Estate Provides $460M Loan As Part Of Merrill Gardens Portfolio Acquisition

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, […]

Welltower Reportedly Sells Merrill Gardens Portfolio for About $700 Million

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 […]

Merrill Gardens President: Middle-Market Brand Takes Shape, Black Lives Matter a Wakeup Call

Tana Gall has been on a mission since returning to Merrill Gardens as president last November. The groundwork for the Seattle-based owner-operator’s entry into the middle market was underway before the coronavirus pandemic shifted priorities to resident safety. However, the middle-market concept is still in the works and likely will be piloted in a handful […]

Covid-19 Makes Quest for Middle-Market Senior Living More Urgent Than Ever

The coronavirus pandemic is highlighting the need — and current lack — of middle-market senior housing, but Covid-19 may also be opening the door for investors and operators to meet growing demand for this product. Investor groups are studying the market landscape to determine how to crack the middle-market equation, and many see the easiest […]

Aegis President: Fast-Moving Coronavirus Situation Demands Extraordinary Precautions, Calm Mindset

Senior living providers across the country are taking steps to guard against COVID-19 and have protocols in place should the novel coronavirus infect residents or staff members. But the situation is most urgent for providers with a significant footprint in Washington state, where the first U.S. coronavirus deaths occurred and where the virus has already […]

Former Merrill Gardens President, Former Aegis CFO to Helm New Cogir USA Operating Company

Cogir — a leading Canadian senior housing operator — is officially launching a U.S. management company under the leadership of two industry veterans, former Merrill Gardens President David Eskenazy and former Aegis Living CFO Walter Jossart. “We’re definitely very excited about it,” Jossart told Senior Housing News. “We’re working through methodically to understand the foundation […]

Middle-Market Plays to Reshape Senior Living Acquisition Activity, Prices

Robust senior housing acquisition activity is likely to continue into 2020, driven by the continued low interest rate environment as well as the increased focus on middle-market products and the creation of multi-brand portfolios. That middle-market focus is also driving more interest from big players in secondary and tertiary markets, which are friendlier to this […]