Standard Communities Acquires California Portfolio
Standard Communities acquired three California seniors housing communities, comprising a total of 559 rental units in Anaheim, San Diego county, and the Bay area. They will be taking over operations from Denver-based property management group AIR Communities, with plans to upgrade the plumbing, HVAC electrical, fire safety and security, as well as make general repairs. Heritage Village Anaheim is a spacious and upscale community consisting of 196 units. According to property records the purchase price was $64 million or about $326,531 per unit. Heritage Park Livermore, located just outside of San Francisco, comprises 167 units with an array of amenities. With rents starting at $2,000 a... Read More »
Live Oak Bank and Locust Point Finance San Diego Construction Project
Live Oak Bank and Locust Point Capital collaborated to close a $28 million construction loan through an A/B unitranche product for a partnership between RhodesMoore, a San Diego, California-based developer, and Portland, Oregon-based operator Frontier Management, LLC. The financing will support the ground-up construction and lease-up of a Class-A, 81-unit assisted living/memory care community in the Clairemont neighborhood of San Diego. Called Mt. Acadia, the urban infill development will consist of a 73,000-square-foot building, a 32-space parking deck and 29 surface parking spaces on 1.52 acres. In addition, there will be a 4,440-square foot commercial building with four bays. No other... Read More »April 28, 2022 Webinar – REITs: After Divesting Billions, They Are Back in Acquisition Mode
Webinar Description: Over the years, the seniors housing and care REITs have played a key role in financing the growth of the senior care industry. But how has the pandemic changed the REITs’ relationship with its senior care assets? Some will leave (or have), some will double down, some will merge, and some new REITs will appear. But operating structures may also change, with new solutions emerging to replace the triple-net leases or management fee agreements. Join our panel of experts to hear the discussion. Panelists: Ben Swett, Editor, The SeniorCare Investor (Moderator)Mark Lamb, Chief Investment Officer, CareTrust REITAlex Florea, Head of Capital Markets, Blueprint... Read More »March 2022 Webinar – Two Years of COVID: What Now, and What’s Next?
March 17, 2022 About the Webinar: It is two years from the start of the pandemic. No one expected it to last this long. What now, and what’s next? Hear what the industry association leaders think should be done to improve the labor situation, increase census and deal with regulatory concerns in the skilled nursing sector. Their members include the entire seniors housing and care sectors, so what they think and do will be crucial for the future of our industry. Panelists: Steve Monroe, Managing Editor, The SeniorCare Investor (moderator) David Schless, President, American Seniors Housing Association (ASHA) James Balda, President and CEO, Argentum Mark Parkinson, President and CEO, American... Read More »NHI and Welltower Agree to Memorandum of Understanding
Following a late-February announcement that they would work out a settlement to their rent dispute, National Health Investors and Welltower announced that they have entered into a memorandum of understanding on the matter. The MOU stipulates that: NHI and Welltower wish to transition the 16 legacy Holiday Retirement properties to new tenants and that Welltower will use commercially reasonable efforts to complete this by April 1, 2022.NHI desires to sell one legacy Holiday property and that Welltower will use commercially reasonable efforts to facilitate the sale’s closing.Welltower will pay NHI approximately $6.9 million, to be held in escrow until the execution of the final settlement... Read More »Schedule a demo
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