Make Way For Watercrest Senior Living Group
Experience matters when it comes to seniors housing development, especially as newcomers and new money are joining the fray. We’ve all heard cries of overdevelopment in certain markets, which can lead to a host of issues for the industry, including falling occupancy, discounted rents and staff retention. Having so many new entrants to the market may only magnify their mistakes, creating some bad PR for the industry. But successfully navigating these choppy waters have been the experienced principals of Watercrest Senior Living Group (WSLG), Marc Vorkapich and Joan Williams. Since its 2012 founding, WSLG has grown steadily, with four communities open so far in Florida, all of which have... Read More »LCB Senior Living Brings Its Luxury Brand to Fairfield County
LCB Senior Living has already established itself as a luxury provider of assisted living/memory care services in New England, with 11 communities in Massachusetts, three in Vermont, two each in Connecticut and New Hampshire, and one in Rhode Island. The developer also has two construction projects in Massachusetts and one in New Hampshire. But now, LCB is taking its luxury brand to the high-income and high-cost Fairfield County for the first time, with two developments in Stamford and Darien, Connecticut (both about 45 miles from New York City). In June 2016, LCB purchased a one-acre parcel near downtown Stamford and is currently building a seven-story, 104-unit assisted living/memory care... Read More »Love Funding Fuels Senior Living Construction Project
James Vanar of Love Funding arranged a $6.8 million bridge loan for a new assisted living/memory care development in South Jordan, Utah. Giza Development leads the team, including Stout Construction and Primera Group, developing the 62-bed community, which will be operated by SAL Management Group. Midland States Bank, the parent company of Love, provided what is now the second loan for Giza (the first was for a development in Ogden, Utah in 2016). Since its launch in May 2015, Love Funding’s bridge lending platform has financed more than $153 million in closings and has another $220 million in loans in the pipeline. That should make for a busy 2017. Read More »
Koelsch Communities Expands Relationship with Ventas
Since its start in 1958, Olympia, Washington-based Koelsch Communities has grown its portfolio to 22 communities located in seven states. The company is also ratcheting up its expansion efforts in the next couple of years, with eight new seniors housing communities slated for completion in four states by 2018. Fueling this growth has been Koelsch’s relationship with Ventas, for which it operates 12 communities, but 18 after its latest transaction. Ventas purchased, then leased back, six seniors housing properties from Koelsch for $137 million. Five of the six communities had been originally developed by Koelsch Communities between 1993 and 2014, with the sixth (a 142-unit independent... Read More »
Columbia Pacific Stirs Up Indian Senior Care Market With Serene Purchase
India represents a huge untapped market when it comes to seniors housing, and a Seattle-based company already with significant investments in Asia is looking to capitalize. A subsidiary of Columbia Pacific Advisors (which was founded in 2006 by Alex Washburn, Stan Baty and Dan Baty), Columbia Pacific Management manages an international business that includes hospitals, clinics and senior care facilities in Kenya, Southeast Asia, India and China. Now, the company is making a huge investment in the Indian senior care market, which has an aging population, rising upper- and middle classes and an under-supply of senior care facilities. Columbia Pacific purchased Serene Senior Care and its 735... Read More »Schedule a demo
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