Ascension, the nation’s largest nonprofit Catholic health system, has announced it will unite the majority of its senior-focused programs under the national organization Ascension Health Senior Care, creating the second-largest not-for-profit long-term care provider in the country. Ascension Health Senior Care will oversee a total of 5,568 senior care/senior living beds and three PACE (Program […]
Ziegler
CCRCs are looking to grow now more than ever — but they aren’t looking anything like their decades-old counterparts. Some are still breaking ground or building additional units onto their existing campuses, but many more are looking to new, alternative ways to grow more efficiently and cost-effectively. Satellite communities and partnerships are two of the […]
Here’s a roundup of some of the most recent financing transactions in senior housing and care. Berkadia Secures Over $156M in Financing for Capital Senior Living Berkadia Commercial Mortgage LLC (Berkadia) worked with Capital Senior Living Corporation to arrange $156.6 million in financing for a portfolio of 15 seniors housing properties located across seven different […]
A collaboration between specialty investment bank Ziegler and venture capital firm LinkAge Ventures aims to drive innovation within the non-profit senior living sector through the creation of a new fund focused exclusively on the aging marketplace. Founded on the belief that the nation’s increasing aging population presents an attractive investment opportunity, especially given its growth […]
The completion of more than $140 million in financing for a California nonprofit continuing care retirement community may signal good news for start-ups and more development ahead for a state that has traditionally had high barriers to entry for nonprofit CCRCs. MonteCedro, the not-for-profit public benefit corporation that owns and operates the CCRC, achieved the […]
More senior living organizations are investing in resident access to the Internet and social networking sites, as well as wireless and high-speed Internet, a Ziegler survey shows. Since 2012, the percentage of organizations investing in access to the Internet and social networking sites has doubled: Nearly 74% of the chief financial officers surveyed reported that their […]
Construction: Planned California City Council OK’s $62.8M Senior Living Redevelopment The City Council of Pleasanton, California, recently approved a $62.8 million redevelopment project for a senior living community that will begin construction next year, reports Pleasanton Weekly. California-based developer MidPen will tackle the redevelopment project, which will replace two senior apartments and give residents the […]
Avision Young Secures $8.75M to Recapitalize Manhattan Memory Care Facility Avison Young’s New York City-based Debt, Equity & Loan Sales team recently sourced $8.75 million of preferred equity to recapitalize Manhattan’s only dedicated memory care facility, Upper East Side Senior Residence. The Avison Young team of Principal Justin Piasecki, Vice-President Aaron Iskowitz and Associate Peter […]
After a relatively flat market for continuing care retirement community finance following the housing crash and subsequent recession, financing activity is coming back—and then some—in even the hardest hit areas like Florida. SantaFe Senior Living, a not-for-profit affiliate of SantaFe Healthcare, Inc. saw the product of the downturn firsthand when it brought a strategic repositioning […]
Ziegler Closes $73 Million Financing for Ill. CCRC Development Ziegler recently closed issuance on $73,465,000 of Series 2014 tax-exempt, fixed-rate bond financing for the development of MRC The Crossings in League City, Texas, sponsored by Methodist Retirement Communities, a not-for-profit corporation. In December of 2012, MRC purchased approximately 19 acres and began funding the pre-development […]
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