Transactions & Financings: Pennant Group Expands Credit Facility; Springpoint’s $115M Refinancing

The Pennant Group (Nasdaq: PNTG) gave itself more financial flexibility a year into the coronavirus pandemic. The Eagle, Idaho-based company amended its revolving credit facility to $150 million, of which only $18.3 million was drawn as of February 22. Coupled with strong cash flow, expands Pennant’s ability to opportunistically target senior housing, home health and […]

Transactions & Financings: LCS Assumes Operations of Rose Senior Living; United Church Homes’ New Development Venture

Sales and operator transitions Life Care Services assumes management of former Rose Senior Living communities Life Care Services assumed management of six communities owned by Rose Senior Living, an operator based in Bloomfield Hills, Michigan. The communities include: Heritage at Irene Woods, Memphis, Tennessee Rose Senior Living and Rose Villas, Avon, Ohio Rose Senior Living, […]

Senior Housing Finance Activity: RED Capital, CBRE

RED Closes $20 Million Balance Sheet Construction Loan for Creekside Senior Living RED Capital Partners, LLC recently completed a $20 million Balance Sheet construction loan for the development of Creekside Senior Living, a Class A assisted living and memory care community with 129 units in Bountiful, Utah. Specifically, the loan was completed for Creekside Senior […]

Most Read: Why Senior Living Must Change Dramatically

In case you missed them… here are the top headlines grabbing Senior Housing News readers’ attention this week.  Why Senior Living Must Change ‘Dramatically’ by 2050—A demographic shift is coming, and America is not prepared for its housing needs. Such is the take of researcher Dr. Dilip Jeste of The University of California, San Diego, […]

From Five Star to Startup: Evrett Benton, Stellar Senior Living

Evrett Benton, former president, CEO and co-founder of Five Star Quality Care, Inc. (NYSE: FVE), has always been an acquisitions guy. That’s how he helped one senior care company grow to more than 33 times its original size. That’s how he and existing real estate investment trust Senior Housing Properties Trust (NYSE: SNH) formed Five […]