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 »
National REIT Re-Tenants Vacant Oklahoma Seniors Housing Asset
Blueprint’s behavioral healthcare team advised a national REIT to re-tenant a vacant seniors housing asset in the Tulsa, Oklahoma MSA. The existing asset was vacant at the time of engagement and identified as a great candidate for a behavioral healthcare provider due to strong demand and referral networks for inpatient substance abuse and mental health care within the market. So, Blueprint identified and negotiated lease and credit terms with behavioral healthcare-focused operators. Ultimately, a large regional substance abuse and inpatient mental healthcare operator was selected based on lease terms and execution capability. In addition to identifying appealing lease terms, credit... Read More »
Berkadia Appoints New SVP of Capital Markets
Berkadia hired Lisa Burgess, appointing her as SVP, Capital Markets – Seniors Housing and Healthcare. Burgess will be responsible for managing the balance sheet bridge financing process as well as the identification and management of third-party lending relationships to augment seniors housing and care dedicated bridge financing. Before joining Berkadia, she has had a 25-year career in healthcare finance, where her experience includes M&A, financing and portfolio management work for Epoch Senior Living, Benchmark Senior Living, Post Acute Partners, Wingate Healthcare and Care One. Burgess received her undergraduate degree from the University of Pennsylvania, graduating Magna Cum Laude... Read More »Schedule a demo
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