A regional senior housing company that has made a name for itself in recent years by forging affinity relationships with churches has hired Christopher Rio as its new president and COO. Omega Communities is a for-profit, faith-based developer of senior housing headquartered in Birmingham, Alabama. Omega has Read More »
In the Pipeline: Senior Housing Construction Projects (8/11/16)
(Rendering of The Harry and Jeanette Weinberg Campus, located in Bridgeport, Conn. — Photo courtesy of Perkins Eastman) Construction: Planned Omega Communities Plans New Senior Living Community A partnership between Greenbrier Development, Omega Communities and Eagle’s Landing First Baptist Church has sparked plans for a new senior Read More »
Senior Housing Finance Activity: Welltower’s $3.7 Billion Credit Facility
Welltower Announces Closing of Expanded $3.7 Billion Unsecured Credit Facility Toledo, Ohio-based real estate investment trust (REIT) Welltower Inc. (NYSE: HCN) announced it has closed an approximate $3.7 billion unsecured credit facility, consisting of a $500 million term loan, a $3 billion revolving line of credit and Read More »
In the Pipeline: Senior Housing Construction Projects (4/14/16)
(The Blake at Carnes Crossroads, an assisted living and memory care community in Charleston, S.C. under development by Cardinal Ventures) Construction: Planned Senior Housing Partners, Zenith Capital Plan $12.3 Million Calif. Project Lake Oswego, Ore.-based Senior Housing Partners LLC and Seattle-based Zenith Capital recently announced Read More »
In the Pipeline: Senior Housing Construction Projects (2/11/16)
(The Healthcare Resort of Plano developed by Mainstreet and operated by The Ensign Group in Plano, Texas — Photo courtesy of Mainstreet) Construction: Planned Omega Communities Plans $45 Million Community for Ga. Birmingham, Ala.-based Omega Communities plans to begin construction later this year on a Read More »
In the Pipeline: Senior Housing Construction Projects (12/17/15)
(Oasis at Scholar’s Landing, an affordable assisted living community in Atlanta – Photo provided courtesy of McShane Construction Company) Construction: Planned Motion Picture & Television Fund to Build $35 Million Kirk Douglas Care Pavilion In celebration of actor Kirk Douglas’ 99th birthday, the Motion Picture & Read More »
Popular Senior Housing Investment Program Faces Uncertain Future
A popular financing program is under fire as a Congressional deadline looms. Lawmakers could extend the EB-5 investment and visa program or enact changes that could make it more difficult for U.S. developers to fund projects, including in senior housing. The EB-5 Regional Center Program Read More »
In the Pipeline: Senior Housing Construction Projects (8/6/15)
Construction: Planned Omega, Maplewood Senior Living to Co-Develop $246 Million NYC Community This week, Hunt Valley, Md.-based real estate investment trust (REIT) Omega Healthcare Investors (NYSE: OHI) and Westport, Conn.-based operator Maplewood Senior Living announced they will co-develop a $246 million luxury senior living community Read More »
Movers & Shakers — Covenant Retirement Communities’ New CEO
Terri Cunliffe Named CEO of Covenant Retirement Communities The Board of Directors of Chicago-based Covenant Retirement Communities (CRC), owner and operator of 14 senior living communities nationwide, has named Terri Cunliffe as its CEO, effective June 1, 2015. Cunliffe, who has served as CRC’s chief Read More »
In the Pipeline: Senior Housing Construction Projects (1/8/15)
Construction: Planned CareTrust REIT Completes $7.5 Million Investment to Build Upscale Colorado Community CareTrust REIT, Inc. (NASDAQ: CTRE) announced today that is has completed a $7.5 million preferred equity investment with Signature Senior Living and Vancouver, Washington-based Milestone Retirement Communities. The investment will be used Read More »