Bobby Petras remembers being at a doctor’s appointment when he heard the news of a game-changing opportunity to add 15 properties to the Priority Life Care portfolio. The call came from Priority’s CEO and Bobby’s sister, Severine Petras. Real estate investment trust Ventas (NSYE: VTR) had tapped them to operate the 15 properties in Pennsylvania […]
Baptist Senior Services names new CEO amid rebrand Pittsburgh-based Baptist Senior Services, now Baptist Senior Family, announced Timothy Myers will serve as President and CEO, replacing Alvin Allison Jr., who will retire at the end of this year. Myers was most recently CFO at Ingleside, a DC-area seniors housing parent company that oversees six senior […]
Thirty-one senior living borrowers have missed a payment on their municipal bond debt for the first time in 2021, representing about $1.6 billion of muni bonds in default and tying the record number of senior housing defaults set last year. That’s according to the latest statistics from Municipal Market Analytics (MMA). The findings build on […]
Pegasus Senior Living CEO Chris Hollister hopes the Dallas-based company will double its number of communities under management within five years — and he sees memory care as a particular opportunity for growth ahead. Assisted living services are the bulk of what the company offers at its nearly 40 communities throughout the U.S. Hollister sees […]
David Eskenazy, former president of Merrill Gardens, has been named CEO of Cogir USA, effective immediately. Eskenazy takes on this role as Cogir USA expands, having recently added five buildings formerly operated by Sunrise Senior Living, with further management agreements and development plans in the works. After departing Merrill Gardens in 2019, Eskenazy joined Cogir […]
When the Covid pandemic hit in March 2020, Silverstone Senior Living was approximately halfway through the construction of The Providence at Fairfax, in the Washington, D.C. metro area. At the time, the eight-year-old development company elected to pause construction and take a step back in order to ensure the safety of future residents and their […]
After forging a partnership with Welltower (NYSE: WELL) in 2019, Balfour Senior Living CEO Michael Schonbrun spoke of plans to expand the portfolio — including by bringing the company’s high-end model to the East Coast for the first time. Despite the unexpected challenges posed by Covid-19, work on the development pipeline moved forward, and details […]
Consumers shopping online are encountering “out of stock” messages far more frequently, automakers and retailers are curtailing holiday advertising due to product shortages, and headlines warn of a Thanksgiving without turkeys. Snarled and disrupted global supply chains are a major factor behind all these issues, and senior living providers are feeling the effects of these […]
KeyBank Real Estate Capital and Welltower (NYSE: WELL) have partnered on a unitranche loan fund for senior housing and skilled nursing facilities, with $750 million in lending capacity for first mortgage financing. The two firms announced the fund in conjunction with last week’s National Investment Center for Seniors Housing & Care (NIC) conference in Houston, […]
As 2022 approaches, senior living providers are setting their annual rental rate increases — and many are going big. I’ve heard that message repeatedly during the past week, first in sessions and conversations at the NIC conference in Houston, and then in quarterly earnings calls. It’s a notable turnaround from this time last year, when […]
