• National Lending Group Divests in Wisconsin

    by | Apr 25, 2024 3:31 pm | Acquisitions

    Justin Knapp, Nick Stahler and Ray Giannini of Marcus & Millichap recently closed the receivership sale of an 86-bed skilled nursing facility in Wisconsin. The Knapp-Stahler Group represented the seller, a national lending group that also provided financing for the deal.  The borrower/buyer was a local operator with ties to an East... Read More »

  • CFG Secures Bridge-to-HUD Loan for Ohio Skilled Nursing Facility

    by | Apr 25, 2024 3:30 pm | Financings

    Capital Funding Group secured financing for a skilled nursing facility in Ohio on behalf of a nationally recognized borrower. The bridge-to-HUD loan totals $13.5 million and supports the refinancing of this 120-bed SNF. Tim Eberhardt and Ava Julio of CFG originated the transaction.  This financing follows CFG’s closing of two HUD loans on... Read More »

  • CBRE Secures Financing For Class-A Seniors Housing Community

    by | Apr 25, 2024 3:29 pm | Financings

    CBRE secured financing for a Class-A seniors housing community in North Dakota on behalf of a joint venture borrower. Built in 2017, New Perspective West Fargo is in Fargo, one mile from Sanford Medical Center, North Dakota’s newest and largest medical center. The community features 128 independent living, assisted living and memory care units... Read More »

  • PCP Purchases Ohio Assisted Living Community

    by | Apr 25, 2024 3:27 pm | Acquisitions

    Phorcys Capital Partners LLC, the investment advisor to Phorcys Senior Housing Recovery Fund LP (SHRF), announced it acquired a seniors housing community in Wickliffe, Ohio, through a trustee-directed short sale for $13.0 million, or $81,000 per unit. This is PCP’s second investment in SHRF, and it will continue to focus on the winding down of... Read More »

  • Newmark Closes Class-A Deal in Denver

    by | Apr 24, 2024 8:44 am | Acquisitions

    A new seniors housing community traded in the Denver, Colorado MSA, with the help of the team at Newmark. Developed in 2017, MorningStar at RidgeGate is located in the suburb of Lone Tree within the Ridgegate master plan that features retail, cultural amenities and a 284-bed hospital nearby. The property comprises five stories over subterranean... Read More »
Eclipse Senior Living Transitions More Properties

Eclipse Senior Living Transitions More Properties

by | Nov 5, 2021 9:24 am | Acquisitions

Eclipse Senior Living has transitioned more of its properties to other operators. A Discovery Senior Living and Ventas joint venture first announced the rebranding of 19 former Elmcroft Senior Living communities, which have been reallocated across Discovery’s national and regional brand companies. Many of these communities, which span multiple states, have transitioned from Eclipse’s Elmcroft brand to Discovery’s TerraBella brand, while Ventas will continue to own the properties.  The deal results in the TerraBella’s transformation into a regionally-focus, wholly-owned subsidiary management group for Discovery, while giving rise to two new regional brands entitled SummerHouse and... Read More »
Eclipse Senior Living Is Closing

Eclipse Senior Living Is Closing

by | Oct 6, 2021 9:55 am | Acquisitions

Eclipse Senior Living will soon be no more, as the company, which was founded in 2017, stated that it plans to permanently shut down its operation, effective (if it goes according to plan) by the end of the first quarter of 2022. Ventas owns a 34% stake in the company and announced that it plans to transition the operations of its 90 communities managed by Eclipse to other providers. In perhaps another way of saying “good riddance,” the REIT stated that the communities “were not contributors to [Ventas’] overall NOI or its SHOP NOI in the second quarter 2021.” Ventas expects to incur certain one-time transition costs as it moves the communities to eight new operators.  This will end... Read More »
Justin Hutchens Moves to Ventas

Justin Hutchens Moves to Ventas

by | Feb 20, 2020 4:48 pm | Opinion

After several years of living across the pond, Justin Hutchens has decided to return home. Following a successful stint as CEO of HC-One, the UK’s largest senior care provider with more than 300 facilities, Hutchens will be moving to Chicago to be EVP, Senior Housing, North America at Ventas. We have known Justin for almost his entire career in senior living, and not only like him, but have a lot of respect for what he has accomplished. However (isn’t there always a however?), this will be the second CEO position he has left (National Health Investors was the other), and our gut tells us there must be something else because he will be one of four EVPs at Ventas.  Yes,... Read More »
Elmcroft Senior Living Portfolio Completes Transition

Elmcroft Senior Living Portfolio Completes Transition

by | Jan 24, 2018 7:02 am | 60 Seconds, Opinion

Ventas has officially transitioned management of its Elmcroft portfolio to newly-formed Eclipse Senior Living. It is now official. The operations of the Elmcroft Senior Living portfolio of 76 properties, with the real estate owned by Ventas, has officially been transferred to Kai Hsiao’s new company, Eclipse Senior Living. Ventas has acquitted a 34% interest in Eclipse, with the remaining 64% being held by Eclipse management, which now includes Shamim Wu, Kai’s former colleague at Holiday Retirement Corporation. She recently did a 10-month stint as president and COO of Silverado. This will be an interesting test, since the Elmcroft portfolio was obviously having some financial problems... Read More »