Senior Living Dealbook: American House Expands In Florida; Alegre Home Care Joins Elder Care Alliance

Transactions

American House expands in Florida

American House announced it is growing its presence in Florida with the acquisition of the newly minted American House Naples.

The community offers 128 units and amenities and services, such as “chef-prepared meals in a spacious dining room, a pool, wine bar, salon, spa, fitness classes and a calendar of engaging activities, events and interesting outings,” according to a press release.

The acquisition follows American House adding five communities to its portfolio last year.

JLL leads sale of San Jose community

JLL Capital Markets announced it led the sale of Loma Clara, an 89-unit community in Morgan Hill, California, near San Jose.

The community was completed in 2018 and offers assisted living and memory care units. At the time of sale, the community was 92% occupied, according to a press release.

On-site amenities include a theater, fitness center, activity and game rooms, library, outdoor courtyard, walking and seating space, physical therapy space and a bistro, the release states.

Blueprint advises on sale of 110-unit community

Blueprint announced it advised on the sale of a 110-unit senior housing community in Perrysburg, Ohio.

While the community traditionally served independent living residents, it was positioned to be converted to assisted living and a focus on serving waiver-eligible residents, a press release states.

The community was sold to a “buyer with a proven track record in executing value-add conversions and an existing Ohio footprint,” according to the release.

SLIB closes on Oregon community

Senior Living Investment Brokerage closed on the sale of Mount Hood Senior Living, a 44-unit senior living community in Sandy, Oregon.

The property was updated in 2022 and offers both assisted living and memory care services, according to a press release.

The community was vacant at the time of sale, and this was the seller’s only senior living community. The buyer is a local operator and will reopen the community, the release states.

Technology provider Residex acquires Kevala

Residex, a technology provider with AI-enabled electronic health records and eMAR solutions, announced its acquisition of Kevala.

According to a press release, the acquisition “strengthens Residex’s position in the senior care technology market by adding staffing optimization” to its platform.

“This acquisition represents a strategic milestone in our mission to transform senior care through technology. Kevala’s innovative approach to workforce management perfectly complements our clinical platform,” Residex CEO Chris Poelma said in the release.

Rebranding

Center for Innovation rebrands to AgingIN

The St. Louis-based Center for Innovation announced it has rebranded to AgingIN.

Alongside the name change, the organization has a “new strategic direction” to deliver hands-on services, consulting and coaching to communities, according to a press release.

“At AgingIN, our greatest innovation is people. We believe that aging is not a decline, but a powerful continuation of life. Our work is grounded in the truth that aging is living, and living is aging,” Susan Ryan, CEO of AgingIN, said in the release.

Affiliations

Alegre Home Care joins Elder Care Alliance

Elder Care Alliance, a nonprofit organization serving older adults in California, announced Alegre Home Care has joined the organization.

Alegre Home Care brings more than 20 years of experience to the organization and has more than 400 caregivers on its staff, according to a press release.

“This affiliation is a meaningful step forward,” Charles Symes, Alegra founder and CEO, said in the release. “Over time, as I’ve come to know the people behind this long-standing nonprofit, I have been moved by how we share similar values of innovation, inclusion, affordability, connection, wellness and compassion.”

Financings

JLL secures $79M acquisition financing

JLL Capital Markets announced it secured $79 million in tax-exempt, floating-rate bank financing for Integrated Senior Foundation to acquire three communities.

The portfolio consists of Magnolia Gardens in Cottage Grove, Oregon; Wiley Creek in Sweet Home, Oregon; and The Lodge in Great Falls, Montana, according to a press release, totaling 287 units.

JLL worked on behalf of the borrower, Integrated Senior Foundation, the release states.

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