Christian Horizons is Restructuring
Midwest Christian Villages, dba Christian Horizons, and its related companies filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. Christian Horizons is one of the nation’s largest not-for-profit, faith-based organizations delivering skilled nursing, assisted and supportive living, independent living, and pharmacy services to seniors in Illinois, Iowa, Indiana and Missouri. The organization will continue to operate as usual throughout the restructuring process. Its investment bank has been and continues to solicit and receive bids from going concern buyers in a marketing process. A series of events has put significant pressure on the... Read More »
JLL Expands Alternatives Group
JLL hired Senior Director Will Childs and Director Brian Spillers to focus on seniors housing and healthcare properties within its alternatives group, led by Executive Managing Director Bryan Lockard. Childs will focus on providing specialized seniors housing valuation and market study services of single assets to large portfolio transactions throughout the United States. Clients served include a broad base of local and national investment firms, property owners, development and operating companies, commercial and investment banks, insurance companies and REITs. Bringing experience and relationships from over 15 years in the seniors housing industry, Childs will expand JLL’s seniors... Read More »
Sunrise Expands Horizon with 13 Added Communities
Sunrise Senior Living added 13 communities to its growing North American portfolio, with more community additions to follow in the third quarter. Sunrise now operates more than 240 seniors housing communities in the United States and Canada, serving more than 20,000 residents. First, Sunrise assumed a new joint venture ownership interest in two, high-quality assisted living/memory care communities in the suburbs of Chicago, expanding its AL/MC services in a high-performing market. Next, Sunrise assumed management of a portfolio comprising eight independent living communities in the greater Rocky Mountain area. Three additional communities are anticipated to close in the coming weeks. ... Read More »
Foundry Commercial Adds New Hire
Foundry Commercial announced the addition of John Reinsma as Deal Principal for its Healthcare business within the Development & Investments platform. In his role, Reinsma, who has spent nearly 20 years in the senior living industry, will lead the development and acquisition strategies and investment initiatives for Foundry’s senior living platform, which encompasses 57 senior living communities with more than 3,700 units nationwide. Foundry Commercial’s senior living platform specializes in the development, acquisition and asset management of seniors housing communities throughout the country. Having entered the senior living sector in 2020, it has positioned its platform to... Read More »
Newmark Handles Class-A Portfolio Deal
Newmark announced the sale of a seniors housing portfolio featuring assets spread across three states. Dubbed Project Stone, the four-community portfolio includes Class-A communities at irreplaceable locations in strong Ohio, Kentucky and Missouri submarkets. Together, they comprise 460 independent living, assisted living and memory care units. The communities had positive leasing and operating margin trends, as well as strong recent rental and care increases. The portfolio was being offered at a discount to replacement cost, but the purchase price was not disclosed. Read More »Schedule a demo
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