• Interview with Arnie Whitman and Meredith Oppenheim on VITALS

    The SeniorCare Investor’s Ben Swett recently sat down with Meredith Oppenheim and Arnie Whitman to discuss their new framework for seniors housing operators to improve the quality of life for their residents, but also to position the sector for greater success and wider appeal in the future. Watch the conversation here. Read More »
  • Michigan-Based Owner/Operator Expands in Tampa MSA

    American House Senior Living Communities added Beach House Assisted Living & Memory Care in Wesley Chapel, Florida (Tampa MSA), to its operating portfolio and renamed the property American House Wesley Chapel. The community features 67 assisted living and 33 memory care units with studio, one- and two-bedroom floor plans, some with balconies... Read More »
  • Seniors Housing Community Near Chicago Gets New Owner

    SVN Chicago Commercial sold McKenzie Falls, an affordable seniors housing community in Bolingbrook, Illinois, roughly 30 miles southwest of downtown Chicago. The building was constructed in 2010 and spans 74,047 square feet across one story.  An undisclosed buyer acquired the 105-unit community for $6.7 million, or $63,800 per unit. Reid... Read More »
  • Healthpeak Properties Provides Janus Living Updates

    Healthpeak Properties’ recently formed seniors housing REIT, Janus Living, which will manage Healthpeak’s 34-community seniors housing portfolio, has filed a registration statement on Form S-11 with the SEC relating to a proposed initial public offering of its shares of Class A-1 common stock, which the company intends to list on the NYSE under... Read More »
  • SLIB Handles Senior Care Campus Deal in Missouri

    A Maryland-based owner/operator looked to expand its Missouri senior care portfolio with the purchase of Kingdom Care Senior Living in the town of Fulton. Built in 1980, the campus includes four independent living units, 26 assisted living units and 36 skilled nursing beds. It currently holds a five-star rating at the SNF and is the only... Read More »
National Health Investors Announces Acquisitions

National Health Investors Announces Acquisitions

National Health Investors wasted no time in making news this 2020. The REIT first announced that it was the buyer in Evans Senior Investments’ latest deal in Minnesota. Built in 2011 next to a lake about 20 miles from Minneapolis and St. Paul, the 48-unit assisted living/memory care community was previously owned by Coventry Senior Living and operated by Ebenezer. They left it in good shape, with occupancy around 90% and more than 80% of its census derived from private pay residents. In the trailing-12 months, it was also bringing in more than $660,000 in EBITDAR on more than $3.0 million of revenues, a healthy figure that also offers some room for improvement. NHI, with 41... Read More »
NHI Finances CCRC Expansion Project in Phoenix

NHI Finances CCRC Expansion Project in Phoenix

The Phoenix, Arizona market has been a hotbed of senior living construction activity thanks to its rapidly growing retiree population, and a large CCRC catering to high-income residents is looking to capture part of that growth with an independent living expansion. Sagewood already has 316 independent living units, 44 assisted living units, 28 memory care units and 78 skilled nursing beds. Demand for independent living was strong (with the IL units fully occupied in 2018), so ownership decided to build a Phase II, which included 101 more units. It was clearly the right decision, as 96% of the new IL units are already presold, with entrance fees projected to average $700,000. Recently, the... Read More »

Handing over the reins

The joint venture owner of a 283-unit entrance fee CCRC in Brentwood, Tennessee recently reshuffled its ownership, with a minority stakeholder acquiring the 70% share from partner and co-developer, Westminster Capital. Back in 2007, Westminster, Harpeth Green Properties (the current buyer) and LCS developed the community on nearly 50 acres. It featured 217 independent living units, a 66-bed skilled nursing facility and a stand-alone adult day care building. Plus, an additional phase of development is scheduled to start sometime in the next year, and will include 97 more IL units, a 350-seat auditorium and an 11,000-square foot health center. LCS’s affiliate, Life Care Services, operates... Read More »