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Argentum Member News
HUD Lean Program Ends Year with $2.8 Billion in Loan Production; Lancaster Pollard Responsible for 21% of Total Activity
The U.S. Department of Housing and Urban Development (HUD) recently released production data for its Lean mortgage insurance program, which finances seniors housing properties, for the fiscal year ending Sept. 30, 2016. Over the course of the fiscal year, the program closed $2.84 billion of loan volume, an increase of 5% as compared to 2015. Lancaster Pollard led all lenders in transactions closed and total loan amount, at 60 and $554.4 million respectively.
Enquire Solutions, Denver-based provider of cloud CRM and sales call center solutions for senior living communities, today announced that Stellar Senior Living, a family-owned operator of senior living communities, chose EnquireLEADS® as their new CRM system. Stellar Senior Living selected Enquire Solutions largely due to its sophisticated data analytics, customizable interface, robust reporting capabilities, and industry specific functionality.
Commonwealth Assisted Living announces that is has completed its acquisition of Danville, Va.-based Stratford House. CAL will be investing $3.5 million to fully update the community and add its award-winning memory care program.
Carlton Senior Living LLC, the Concord, Calif.-based owner and operator of 11 existing Northern California senior living communities, has agreed to buy a 3.68 acre site in Sonoma County, just north of Santa Rosa, for a new senior living complex.
HHHunt Senior Living has promoted Greg Fox as the company’s director of operations and hired Alicia Archer and Linsday Levesque as executive directors of its communities in Richmond (Virginia) and Severna Park (Maryland), respectively.
Senior Lifestyle announced its newest planned community, The Sheridan at Overland Park. Developed by CA Senior Living, the senior housing investment and development division of Chicago-based CA Ventures, the community is part of CityPlace, a mixed-use development in Overland Park that includes plans for additional residences, shops, restaurants and office space, along with landscaped trails and gathering spaces.
Watercrest Senior Living Celebrates the Opening of Watercrest of San Jose Assisted Living and Memory Care Community
Watercrest Senior Living welcomed more than thirty residents to the official opening of Watercrest of San Jose Assisted Living and Memory Care Community in Jacksonville, Florida.
Five Star Senior Living Has Seven Communities Compete in "A Taste of Senior Living" in Clarksville, Maryland
The Lifespan Network invited Senior Living communities to feature dishes served to residents and a panel of judges critiqued the entrants based upon taste, texture and appearance.
Princeton, NJ-based Solvere Senior Living, a management and consulting firm, continues to expand and is again partnering with Jacksonville, Florida-based WM Dougherty & Co., LLC nvestment bank and brokerage firm in the acquisition and management of a bankrupt memory care community in Williamsburg, VA.
Symphony Senior Living has welcomed two new executives to their international team.
Wohlsen Construction Company received two awards from the Chesapeake Shores Chapter of Associated Builders and Contractors (ABC) at the association's Annual Excellence in Construction Awards banquet.
HHHunt completed an $11.5 million purchase of a stalled project in western Henrico County, Virginia, through federal bankruptcy court in Arizona. It plans to complete construction and open the community this winter as Spring Arbor Cottages of Richmond.
Chancellor Health Care, Inc. of Windsor, California, announced an expansion of its senior living communities. In a $36.6 million dollar purchase, on September 1, 2016, National Health Investors (NYSE-NHI) acquired three communities in McMinnville, Oregon, and leased the communities to Chancellor Health Care effective immediately. The lease is for 15 years with an annual lease rate of 7.5 percent.
Enlivant, one of the nation's largest owners and operators of senior living communities, TPG, a leading global investment firm, and TPG Real Estate, the real estate platform of TPG, announced a series of large, strategic portfolio acquisitions today from several unrelated organizations.
Wichita, KS-based Legend Senior Living is supporting college students in Kansas who are interested in health-related issues affecting older adults through a $75,000 donation that created the Legend Fellows Program at Wichita State University, according to an article a university foundation publication.
Updates to Harry Ekstam Assisted Living in Batavia Will Allow the Community to Nearly Double Its Memory Care Capacity
Updates to the Harry Ekstam Assisted Living community, 831 N. Batavia Ave., Batavia, are expected to be finished by early fall of this year. Joseph J. Duffy Co., Chicago, was chosen to complete a renovation to common spaces, including the relocation of one dining room. In addition, a new, more visible entrance with a vestibule is being added.
Ridgeline Management Company is proud to announce a new corporate level position, Director of Innovation and Education. Karilee Baird, who has served as an outstanding community Administrator of The Vistas Assisted Living in Redding, CA. for 12 years has accepted this new role.
Eldermark Software Connects with National Investment Center for Seniors Housing and Care to Produce Actual Rates Reports
Eldermark, the leading innovator in the senior care software market, is proud to announce reporting that supports the National Investment Center for Seniors Housing and Care (NIC) Actual standard.
Watercrest Senior Living Group Celebrates the Groundbreaking of Watercrest of St. Lucie West Assisted Living and Memory Care Community
Watercrest Senior Living Group gathered with city officials, development, construction, and design partners to celebrate the ceremonial groundbreaking of Watercrest of St. Lucie West Assisted Living and Memory Care Community in Port St. Lucie, Florida.
As part of MBK Senior Living’s aggressive growth strategy and commitment to serving seniors, the company has added six communities over the last month. The rapid expansion has continued despite the recent departure of Terry Howard, who resigned as president in August.