It’s no secret in senior living that staffing is often the most expensive part of operations. For middle-market operators, staffing is especially a challenge. Operators that try to keep rates lower for residents must balance the necessary cost of staffing with affordability. From food costs and utilities to insurance and debt service, senior living operations […]
Transactions Stellar closes first joint venture Stellar Senior Living announced it closed on its first joint venture with $20 million in capital commitments. The joint venture will provide the funding needed to acquire between 10 and 15 communities, according to a press release. The first acquisition through the joint venture is The Grand at Broomfield […]
Milestone Retirement Communities is focused on diversifying its senior living portfolio, including future joint ventures beyond the company’s existing communities. Milestone has in the last year revamped some of its communities to meet middle-market senior living demand, such as by changing care offerings and fine-tuning staffing levels to accommodate more price points. “The middle market […]
This article is part of your SHN+ subscription The senior living industry is much more optimistic in 2025 about the demand at its doorstep in the form of the baby boomers – but there is still a lingering disconnect between recognizing that demand and actually meeting it. That was among my big takeaways a week […]
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Milestone Retirement Communities is under new ownership, and the company’s top leader is focusing on a middle-market growth strategy in the years to come. Milestone CEO Caryl Ridgeway in July assumed ownership of the senior living operator along with her husband, Scott Ridgeway, who is slated to become the company’s top technology officer. Prior to […]
CareTrust gets new CEO amid rumors of sale CareTrust (Nasdaq: CTRE) appointed former president and COO David Sedgewick to be its new CEO. Before joining the San Clemente, California-based real estate investment trust (REIT), Sedgwick held leadership positions at the Ensign Group (Nasdaq: ENSG), CareTrust’s largest tenant. CareTrust itself was formed in a spin-off from […]
In the Pipeline is brought to you by the Senior Housing News Architecture & Design Awards, an annual competition that recognizes cutting-edge design, excellence, and innovation in senior living. View the nominees for the 2021 Architecture & Design Awards. Construction: Planned Greystar Secures Land for Active Adult Community in Arizona Greystar has closed on the […]
In the Pipeline is brought to you by the Senior Housing News Architecture & Design Awards, an annual competition that recognizes cutting-edge design, excellence, and innovation in senior living. Submissions are currently open. Construction: In progress Revel Community in California In Progress, Pre-Leasing Revel Folsom, an independent living community from The Wolff Company’s Revel brand, […]
Cambridge Realty Capital found a way to place new debt during the coronavirus pandemic. The West Palm Beach, Florida-based financial services firm announced it closed on $446 million in interest rate reduction (IRR) loans from April 2020 through December 2020 — activity driven by the firm’s proactiveness to help clients reduce debt load during the […]
