PGIM Real Estate is raising funds for its latest senior housing at a rapid pace. The Parsippany, New Jersey-based real estate investment firm is more than halfway toward its $750 million fundraising target, with significant contributions from pension funds paving the way. The Pennsylvania State Employees Retirement System (SERS) approved a $100 million commitment to […]
Somerby Senior Living
Having recently acquired an operating company, private equity firm Bridge Investment Group also plans to expand its portfolio of senior housing communities managed by third parties — although current high M&A prices are a concern. “We’ve seen pricing continue to get richer and richer and it is very concerning to us,” Bridge Seniors Housing Fund […]
HFF Completes Sale, Financing of Somerby Senior Living Portfolio Holliday Fenoglio Fower (HFF) completed the sale and financing of a nine-property senior housing portfolio, totaling 1,558 units, in the Southeastern U.S. HFF marketed the property on behalf of the seller, Dominion Partners, acting on behalf of its affiliated partner, Somerby Senior Living. Bridge Investment Group […]
Orlando, Florida-based Bridge Investment Group expanded its senior housing portfolio earlier this week with the acquisition of both the real estate and operations of Somerby Senior Living. The acquisition was completed through Bridge Seniors Housing Fund Manager, a $1 billion fund Bridge raised last year. Prior to the deal, Birmingham, Alabama-based Somerby owned and operated […]
New Senior Investment Group Issues Fortress Affiliate $40 Million in Series A Preferred Stock New Senior Investment Group (NYSE: SNR) filed an 8-K form with the Securities and Exchange Commission (SEC) indicating the New York City-based real estate investment trust (REIT) issued 400,000 shares of Series A Preferred Stock to FIG LLC, an affiliate of […]
CBRE Arranges Financing for Three Senior Living Projects CBRE National Senior Housing has arranged financing for a joint venture between Harrison Street Real Estate Capital and Dominion Partners, according to a press release. The property, Somerby Peachtree City, is a newly built 96-unit assisted living and memory care community located in Peachtree City, Georgia, which […]
Dominion Partners has been busy growing its senior housing portfolio lately—and it has no plans to slow down. The Birmingham, Alabama-based company recently delivered two new Somerby Senior Living communities in Sandy Springs, Georgia, and Franklin, Tennessee, expanding the Somerby portfolio to a total 1,560 units. Brian Parker, principal and CFO of Dominion Partners, attributes the […]
Somerby Senior Living Names New President and COO Dominion Partners and Somerby Senior Living recently announced that David Grady has been named Somerby’s new president and COO. Grady has more than 30 years of experience in senior living operations, having served as an administrator, activities director, area administrator and regional vice president of rehab and skilled […]
(Photo of Sagewood’s Acacia Health Center located in Phoenix, Ariz. — Photo courtesy of Sagewood) Construction: Planned Stonecrest Community Planned, Town and Country, Mo. The official ground breaking in planned for next week in Town and Country, Mo. for Stonecrest, a premier assisted living and memory care community. Stonecrest is managed by Integral Senior Living […]
WoodBine Senior Living Hires New CIO Maryland-based WoodBine Senior Living, LLC has announced that Daryl McCombs has joined the company as a partner and chief investment officer to lead its acquisition, finance and business development functions. McCombs brings to the position more than 20 years and $2 billion of acquisition and finance experience within the […]
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