Lisa McCracken Joins NIC
Lisa McCracken will be taking her research and analytics expertise to the National Investment Center for Seniors Housing & Care (NIC) effective October 1. She will be the head of research and analytics for NIC. She had a similar job at the investment banking firm Ziegler, where she was director of senior living research and development for the past six years, and SVP for the four years prior. Earlier this summer Beth Mace “retired” as NIC’s chief economist and director of research and analytics, and while no one can fill her shoes, it looks like Lisa will take over the research side of things while Beth slows down and tries to ease into retirement working part time for NIC with her... Read More »
The REIT/Operator Shuffle Continues
Ventas just announced that it was changing out the management of 26 independent living communities that had been managed by “Holiday by Atria.” Sodalis Senior Living will be taking over 13 communities in Texas, Priority Life Care eight in Florida, and Discovery Senior Living five in California. All three companies are already successfully managing properties on behalf of Ventas. The new managers will take over on or around September 1 for the majority of the communities, with the balance early in the fourth quarter. What we know is that Priority Life Care took over a portfolio of the former Eclipse managed properties and performed better than expected, or at least what Ventas may have... Read More »
Diversified Healthcare Trust/Office Properties Trust Deal in Jeopardy
Last April 11, Diversified Healthcare Trust announced a merger (sale) with Office Properties Income Trust whereby DHC shareholders would receive $1.70 in OPI shares for each DHC share, then worth about $1.20 per share. Within weeks the shares plunged by 33% to $0.80 per share. They had been as low as $0.61 per share on December 22, 2022. We suppose management must have been desperate. Something didn’t smell right to a few investors, and shareholder Flat Footed LLC raised the red flag that this was not a deal in the best interests of DHC shareholders. And they fought it. They were not the only ones who decided the merger was not in the best interests of DHC shareholders. Now, three leading... Read More »
Assured Hospice Acquisition and Home Health M&A Trends – A Conversation with Alex Veach of Agenda Health
Agenda Health, a healthcare-focused M&A advisory firm based in Austin, Texas, advised Assured Hospice in its acquisition by Agape Care Group, a portfolio company of private equity firm Ridgemont Equity Partners. Agenda Health’s mission is to deliver consistent results with a faith-based, Christ-centered focus. Agape originally announced the deal in late June, but we were able to speak with Alex Veach, Director of Transactions Services at Agenda Health, to get an inside look into the Assured Hospice acquisition, as well as the home health M&A market as a whole. Based in Cartersville, Georgia, Assured Hospice provides physical, emotional and spiritual... Read More »
New Active Adult Community in The Works
America Walks, an Ohio-based multifamily development firm, is developing Encore at Tradition, an active adult community located in Tradition (a master-planned community within Port St. Lucie), Florida. This is being done with the help of a $95 million mortgage loan originated from Madison Realty Capital, a real estate private equity firm managing $11 billion in assets. Encore at Tradition will be comprised of 303 single-story, ranch-style villa units across 60 buildings and two multifamily buildings, connected by a 24,000-square foot clubhouse and amenity deck. Resort-style amenities will be offered, including a salon, sauna, walking/biking trails, golf simulator, sport courts and a... Read More »Schedule a demo
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