Ziegler Finances Chicagoland CCRC Expansion
Ziegler closed two series of revenue bonds for Plymouth Place, an Illinois not-for-profit that owns and operates a CCRC in La Grange Park, Illinois. Incorporated in 1939 on about 18.6 acres, the campus includes 182 independent living units, 52 assisted living units, 26 memory care units and 82 skilled nursing beds. Ownership wished to expand by building 59 new independent living units within one two-story building, two three-story buildings, one four-story building and related common areas, parking and equipment. The units are expected to open in early 2024. A connector building with additional common areas will also be built, along with outdoor amenities like a yoga lawn, bocce ball and... Read More »Is The Public Option Passe?
Last month, we raised issues about Sonida Senior Living and its ability to survive through next year without additional capital. Its market cap is low ($86 million), its share price is falling as are its cash balances. G&A expenses have been way too high, but they are beginning to address that. Another company, AlerisLife, is facing similar problems, such as a small market cap ($25 million), a falling share price and G&A expense out of line with its operations ($17 million in the third quarter alone). One good thing going for the company is that it has $79.1 million of cash and just $67 million of long-term debt. And, quarter-end occupancy in the third quarter increased... Read More »
CareTrust REIT’s Mark Lamb Steps Down as CIO
The Board of Directors of CareTrust REIT, Inc. announced the appointment of James Callister as Chief Investment Officer, to be effective as of December 31, 2022. Mr. Callister will succeed Mark Lamb, who is leaving the company after a transition period to pursue entrepreneurial opportunities. Mr. Callister currently serves as CareTrust’s Executive Vice President. In the release, CEO Dave Sedgwick stated,“On behalf of the Board and all of us at CareTrust, I express our admiration and gratitude for the tremendous impact Mark has had on building the company since the beginning. Mark has always been a true partner and friend and we wish him continued success in the future.” Mr. Lamb said,... Read More »
Sonata Senior Living Announces Women-Only Memory Care Program
Sonata Senior Living has announced the expansion of Serenades for her, a new, women-only memory care lifestyle option. This program, originally launched in Serenades at West Orange, Florida, will now be offered in two neighborhoods in Serenades at the Villages and Serenades at Longwood, both in Florida. Serenades for her will also be a brand-new lifestyle option at Sonata Boynton Beach in South Florida. Read More »
Another Active Adult Development Opens in Texas
In December of 2020, a Houston-based joint venture between Buckhead Investment Partners and Zane Segal Projects started construction of Arista Riverstone, a 143-unit active adult community in the Houston suburb of Sugar Land. Johnson Capital Multifamily Inc. provided the construction financing for the project. Gonzalez Newell Bender Architects provided architectural design services, and the general contractor was Galaxy Builders. Greystar was also set to handle lease-up and management of the community. That active adult community is now complete. Arista Riverstone includes one-, two- and three-bedroom apartments and community amenities such as a full-service salon, game room, conference... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
