Coral Reef Aerial

BHI Healthcare Group Arranges $41.8 Million Construction Financing For the Oasis at Coral Reef, New Senior Living Facility in Miami

NEW YORK, – BHI, a full-service commercial bank, announced that its Healthcare Group has arranged $41,860,000 in construction financing for the Oasis at Coral Reef, a new 217,123-square-foot luxury senior living facility under development in Miami, adjacent to Jackson South Medical Center. BHI has provided financing of $31,860,000 and Coastal States Bank $10 million. The borrower is Royal Senior Care, which owns and operates senior living facilities in the Southeastern United States with a primary focus in South Florida.

The Oasis at Coral Reef will offer a total of 201 catered living, assisted living and memory care units in three buildings spread over an 8.67-acre campus. Royal Senior Care facilities feature gourmet restaurant-style dining, boutique hotel décor, and a variety of luxury amenities.

The Coral Reef transaction marks BHI’s second for Royal Senior Care. In 2018, the bank arranged a refinancing of the company’s Oakmonte of Davie senior housing facility.

“We regard healthcare as a highly strategic vertical within BHI. We are committed to the future of this growing sector and to supporting our healthcare clients such as Royal Senior Care,” said Gil Karni, CEO of BHI.

“BHI has proven to be a highly supportive partner over the years. BHI’s healthcare team is expert in the intricacies of the senior living sector and understands our business. We are very pleased to collaborate with them again,” said Sean Kanov, Managing Director of Royal Senior Care.

“Although 2020 was a challenge for many senior living, assisted living and memory care operators, BHI believes in the outlook and demographics of the business. We continue to support our clients and provide financing in the sector. Royal Senior Care has a keen understanding of the market. Its communities with their exceptional amenities offer great appeal for residents,” said Tami Antebi, First Vice President and Head of BHI Healthcare.

“BHI aims to build long-term relationships with clients by becoming acquainted with their business objectives and providing tailored financial solutions to meet them. Royal Senior Care has a substantial track record of success in the Florida senior care industry. We look forward to continuing our productive partnership going forward,” said Steven Caligor, EVP, Division Executive of Structured Finance Group at BHI.

Waldron Staff By New Sign

Aperion Care Waldron Welcomes New Ownership; Renamed Waldron Rehabilitation and Healthcare Center

WALDRON, IND. – Aperion Care Waldron announces it has changed ownership. Renamed Waldron Rehabilitation and Healthcare Center, the 79-bed subacute and skilled nursing facility provides a broad spectrum of care, including long- and short-term care and rehabilitation, in an intimate and compassionate environment.Waldron Staff By New Sign-Cropped.jpeg

The new ownership team is a group of skilled nursing facility managers and operators based in Indiana and the Midwest. The ownership change was effective November 1, 2020.

“In these challenging times, it is very reassuring that our new ownership team has years of know-how, shared values and a great group of experienced experts – based right here in the Midwest – to support our care team,” said Manoj Berry, the center’s Administrator.

Waldron Rehabilitation and Healthcare Center will benefit from the hands-on attention that comes from a smaller, but very skilled “non-corporate” ownership and management team. The team has overseen operations at similar-sized care centers, in rural and suburban communities around the Midwest, and brings many new ideas that have been very successful at other facilities.

Implementing “Genuine Hometown Care”

“Our new owners view Waldron Rehabilitation and Healthcare Center as a world of family and friends,” said Berry. “They share core principles and standards that reflect the people and beliefs of our region: Genuine Hometown Care, Community Integration, and Employees are Family.”

Waldron Rehabilitation and Healthcare Center is known for its focus on providing hometown care with a commitment to fully integrating with the healthcare needs of the Waldron, Ind., community. As it continues to grow, the center will benefit from working with a skilled, hands-on regional ownership team.

“The ownership group has significant experience in overseeing operations at similar-sized care centers in rural and suburban communities around the Midwest,” Berry noted. “We anticipate incorporating new ideas that have been successful at their other facilities as we work to advance our mission of excellence in care.”

About Waldron Rehabilitation and Healthcare Center

Waldron Rehabilitation and Healthcare Center is a 79-bed subacute and skilled nursing facility in Waldron, Ind., providing long-term care, short-term care, rehabilitation, occupational therapy, physical therapy, rehab-to-home, speech therapy, hospice care, and respite care. The center is currently accepting new admissions for short-term rehabilitation and long-term care. For further information, please contact Sarah Jones at (317) 512-7341 or visit the Waldron Rehabilitation and Healthcare Center website at

Kisco Senior Living Purchases Atria Park of Woodbridge

Carlsbad, Calif.,– Kisco Senior Living, a senior living and lifestyle management company, today announced it has signed a definitive agreement to acquire Atria Park of Woodbridge, an assisted living and memory care community located in Irvine, California, formerly owned by Healthpeak and operated by Atria Senior Living. Additionally, the community will be renamed Woodbridge Terrace of Irvine after a resident poll was conducted to select a new name. The closing date was December 16. Terms of the sale are not being disclosed.

“Woodbridge Terrace of Irvine is a beautiful community in a fantastic location,” said Andy Kohlberg, CEO of Kisco Senior Living. “We have a large presence throughout California, and we saw this as an opportunity to expand our footprint in southern California. We are committed to retaining staff at the community and working with Healthpeak and Atria Senior Living to make this transition as seamless as possible. We have already engaged residents in selecting the new name of the community. We are dedicated to serving our new residents and committed to providing the exceptional care and an enriched lifestyle they deserve.”

Woodbridge Terrace of Irvine is a 103,000 square-foot community that features 139 apartments. The community recently completed a $9 million renovation project, which entailed the conversion of existing assisted living apartments to create a memory care neighborhood that features dedicated dining and activity areas as well as an outdoor courtyard. The executive director will remain in place at the community, and Kisco Senior Living will be hiring two new sales directors to help increase occupancy.


For more than 30 years, Kisco Senior Living has specialized in developing and managing full-service senior living communities that provide an enriched lifestyle. All 20 communities in the Kisco portfolio feature a wide spectrum of individualized services and lifestyle options. Our unique approach and philosophy, called Kisco Confidence, is centered on giving residents and associates peace of mind knowing that our communities deliver on safety and security, trust and transparency, health and wellbeing and a 5-star lifestyle experience.  For more information, please call (760) 804-5900 or go to

“We are excited to bring Kisco’s principles, values and beliefs to Woodbridge Terrace of Irvine,” said Kohlberg. “Our team is committed to our Kisco Confidence philosophy, centered on giving residents and associates peace of mind knowing that we provide the safest place to live and work, deliver five-star service, and treat everyone with integrity, dignity and compassion.”

Kisco Senior Living owns and operates 20 additional communities located in California, North Carolina, Florida, Virginia, and Utah.

Alfonso Montiel

Acquisition of Comfort Care Hospice Leads to Name Change, Appointment of new CEO

DALLAS, TX – Comfort Care Hospice, a leading hospice care provider serving the Dallas-Fort Worth market, has been acquired and rebranded as SilverStone Hospice. The rebranding signals the acquiring group’s expansion plans and enhanced purpose, which will soon include upcoming home health care and palliative care service lines. Additionally, Alfonso Montiel has been named as SilverStone Hospice’s chief executive officer.

“Our goal is to grow a Texas-focused business through aggregating a series of acquisitions. We are benefiting from a highly fragmented market serving a rising demand and gaps in levels of care.” said Montiel, CEO at SilverStone Hospice. “Our mission is to empower families to provide the best care and experience for their loved ones.”

Fifty years ago, the first U.S. hospice resulted from one person, the dean of the Yale School of Nursing, becoming a volunteer caring for the dying during her year-long sabbatical at hospice in London. Fifty years later, Montiel began his journey in end-of-life care as a vigil volunteer. Inspired by the passing of a close relative, he began caring for patients alongside a hospice care team during a patient’s last hours of life. Through this experience, Montiel gained an awareness for how end of life healthcare businesses can bring connection, purpose and meaning. Convinced of the benefits of home care over hospital settings for terminally ill patients, a year later, he acquired Comfort Care Hospice.

Montiel’s professional profile includes founding a $150 million private equity hedge fund, strategy development for Fortune 500 companies, and serving as CEO for The Lemon Tree Trust, a charitable initiative that supports gardening in refugee camps. He also is a law graduate and earned his Master of Business Administration degree at Columbia University.

Montiel is committed to changing the conversation about hospice. He believes too often that patients are kept in the acute care system for longer than they should be due to various factors, including late physician referrals, lack of family understanding about hospice and cultural barriers.

“I like to say that we work with the living, not the dying,” said Montiel. “Hospice has been proven to prolong life for patients who receive these services early enough in their diagnosis, as they tend to receive better care. At SilverStone, we see plenty of these cases.”

He is joined by industry veterans with track records spanning 30 years in hospice with one goal in mind – to make SilverStone Hospice the pioneering organization in end-of-life-care and to build better opportunities for patients and families to have a voice in their desired end of life care plan.

According to Montiel, SilverStone Hospice offers beyond what’s expected by regulation; filling the gap where other hospice companies fail with its No One Dies Alone program.

“Our clinical team is truly exceptional. The levels of care and support that we provide is an extension of our team’s deep dedication to honoring each patient’s voice and advocating for their needs and wants at the end of life, as we would our own family,” said Montiel.

ZOM Living & Watermark Acquire Sites for Two Luxury Senior Living Communities in South Florida

Miami, FL– As demand for rental senior housing intensifies in South Florida and across the U.S., ZOM Senior Living and Watermark Retirement Communities have closed and are preparing to break ground on two new developments in South Florida that will deliver a combined 350 luxury rental apartments for seniors in Coral Gables and West Palm Beach, Florida. The acquisitions of the two development sites, located at 300 Greco Ave in Coral Gables, and 401 Datura St in West Palm Beach, were completed on June 30, 2020. Construction of both projects is expected to begin later this Summer.

The acquisitions pave the way for ZOM Senior Living’s second and third luxury rental senior living communities in Florida, following a 424-unit development already underway in Wellington. With a 42-year history, ZOM Living has developed nearly 22,000 apartment units nationwide with an aggregate value of $4.3 Billion. Currently, the company has 6,700 units under construction or in design and predevelopment, including 774 units in the senior living space.

The demand for senior living is expected to steadily increase over the next two decades across the country. An estimated 881,000 new units will be needed between now and 2030, including about 36,000 this year and another 41,000 in 2021, according to an analysis from the National Investment Center for Seniors Housing & Care.

“At ZOM Living, we recognize the demand for senior living communities as our population over the age of 65 is set to grow by more than 10,000 people per day through 2035, moving over 50 million into that age bracket. This is fueling pent-up demand for rental units catering to seniors seeking an active lifestyle in walkable neighborhoods close to shopping, dining, entertainment and cultural offerings,” said Greg West, CEO of ZOM Living.

“We are excited to partner with Watermark, an innovative and best-in-class operator, for the development of these two urban senior communities,” said Brett Gelsomino, Vice President of ZOM Senior Living. “We look forward to setting a new standard for senior living, beginning here in South Florida, and expanding to other markets across the country.”

Watermark Retirement Communities is a leading national senior housing operator with over 30 years of experience. Watermark manages 63 communities across 21 states including four developments nearing completion. Watermark’s portfolio includes locations in Napa Valley, Westwood, Beverly Hills, Corona del Mar, Oakland, Carmel and Dana Point in California; Brooklyn Heights in New York City; Fairfield County, Connecticut; Houston, Austin, Dallas and Frisco in Texas; Bellevue, Washington; and Tucson and Scottsdale in Arizona.  Coral Gables and West Palm Beach represent Watermark’s 5th and 6th community in Florida with additional projects planned in the near future.

“At Watermark Retirement Communities, we understand the need for senior living that embraces a spirited lifestyle of renewal and engagement with luxurious surroundings in premium locations.  Our new Florida communities in partnership with ZOM Senior Living will provide exceptional environments for our programs focused on transformative aging,” said David Barnes, CEO of Watermark Retirement Communities.

“We are honored to have the opportunity to partner with ZOM on these two unique projects located in their backyard of South Florida.  We believe we will be delivering an exciting product offering that is currently lacking in these underserved and growing markets,” said Bryan Schachter, Chief Investment Officer for Watermark Retirement Communities.

The Watermark at Merrick Park, will comprise 196 units including independent living, assisted living, memory care, and 50,000 square feet of amenities. The site is bound by LeJeune Road to the west and Ponce de León Boulevard to the east, and immediately adjacent to the Shops at Merrick Park. Located half a block south of Clematis Street and across the street from the Brightline Train Station in the heart of downtown, The Watermark at West Palm Beach is a 154-unit senior living rental community, also providing independent living, assisted living and memory care and 30,000 square feet of amenities.

Both communities will feature a rooftop pool and sky lounge, wellness center, spa and salon, art gallery, multiple dining venues including a gourmet restaurant and casual bistro, sports bar, library, and business center. They will also offer garage parking with valet service, as well as complimentary transportation services in luxury motor cars and concierge services.

Construction financing for the West Palm Beach development is being provided by M&T Bank, while the project in Coral Gables is being financed by PNC Bank. The projects are designed by MSA Architects and Lemay-Escobar Design. Construction for West Palm Beach is by Verdex Construction, while Coral Gables will be constructed by Kast Construction.

For more details on the Coral Gables and West Palm Beach developments, please visit

Greystone Acquires Portfolio of 13 Healthcare Facilities in Illinois and Missouri

NEW YORK, NY–Greystone, a long-time healthcare facility owner and operator, announced the acquisition of a 13-facility portfolio comprised of 12 skilled nursing facilities and one supportive living community across Illinois and Missouri in early February. The Rosewood portfolio of properties was acquired from the Department of Housing and Urban Development for an undisclosed amount.

The 1,662-bed portfolio includes the following facilities, rebranded and managed by Greystone Healthcare Management-Midwest LLC, an affiliate of Greystone Healthcare Management Corp., which manages over 30 health and rehab facilities in Florida:

  • Rosewood Care Center of Alton, IL (Madison County) now named Riverside Rehab & Healthcare;
  • Rosewood Care Center of East Peoria, IL (Tazewell County) now named Lakeside Rehab & Healthcare;
  • Rosewood Care Center of Edwardsville, IL (Madison County) now named Care Center at Center Grove;
  • Rosewood Care Center of Elgin, IL (Kane County) now named Fox River Rehab & Healthcare;
  • Rosewood Care Center of Inverness, IL (Cook County) now named Inverness Health & Rehab;
  • Rosewood Care Center of Joliet, IL (Will County) now named Lakeshore Rehab & Healthcare;
  • Rosewood Care Center of Moline, IL (Rock Island County) now named Centennial Rehab & Healthcare;
  • Rosewood Care Center of Northbrook, IL (Cook County) now named Lake Cook Rehab & Healthcare;
  • Rosewood Care Center of Peoria, IL (Peoria Cunty) now named University Rehab at Northmoor;
  • Rosewood Care Center of Rockford, IL (Winnebago County) now named Carriage Rehab & Healthcare;
  • Rosewood Care Center of St. Charles, IL (Kane County) now named Dunham Rehab & Healthcare;
  • Rosewood Care Center of St. Louis, MO (St. Louis County) now named Crest View Rehabilitation and Healthcare Center; and
  • Foxes Grove Supportive Living of Wood River, IL (Madison County), which will retain its existing name.

“Greystone has decades of experience in the skilled nursing industry, and our priority has always been the quality of care we provide to residents,” said Stephanie Handelson, CEO, Greystone Healthcare Management. “We believe we bring the best combination of expertise and operational oversight to the market. Greystone is excited to be expanding its footprint as a high-quality care provider to both Illinois and Missouri.”

To support the expansion, Vince McGowen has joined Greystone Healthcare Management as Senior Vice President of Operations, Midwest. McGowen comes to Greystone with over 25 years of healthcare sector expertise, much of that experience based in the Midwest.

Greystone Healthcare Management Corp., an affiliate of newly formed Greystone Healthcare Management-Midwest LLC,  headquartered in Tampa, FL, manages a healthcare network comprised of over 30 skilled nursing and assisted living communities, outpatient rehabilitation, home health and private duty agencies. Greystone is committed to providing only the highest quality customer service and person-centered patient care.

Tryko Partners Acquires Three Skilled Nursing Facilities in Virginia

ALEXANDRIA/RICHMOND/COLONIAL BEACH, VA–Continuing its strategic growth in the Mid-Atlantic region, Tryko Partners has acquired three skilled nursing facilities in Virginia. The additions represent a geographic expansion for the Brick, N.J.-based private equity investment firm.

The facilities, which were part of the Cambridge Healthcare Portfolio, include the 307-bed Woodbine Rehabilitation & Healthcare in Alexandria, the 190-bed Lexington Rehabilitation & Healthcare in Richmond, and the 66-bed Westmoreland Rehabilitation & Healthcare in Colonial Beach. Each provides post-hospital care, short-term rehab and long-term residential care. Tryko plans to invest a total of close to $9 million for renovations and programming enhancements at the facilities.

“This purchase marks our foray into Virginia, and the combined, 563 bed count has enabled us to immediately establish a significant footprint in this desirable market,” said Tryko’s Uri Kahanow, director of acquisitions. “For us, this region is a natural progression, given that we have a well-established skilled nursing presence in Maryland and other key Mid-Atlantic markets to the north.”The facilities, which were part of the Cambridge Healthcare Portfolio, include the 307-bed Woodbine Rehabilitation & Healthcare in Alexandria, the 190-bed Lexington Rehabilitation & Healthcare in Richmond, and the 66-bed Westmoreland Rehabilitation & Healthcare in Colonial Beach. Each provides post-hospital care, short-term rehab and long-term residential care. Tryko plans to invest a total of close to $9 million for renovations and programming enhancements at the facilities.

Located at 2729 King St. in Alexandria, Woodbine has the largest licensed capacity in Virginia. The 94,000-square-foot facility, situated on a nearly four-acre parcel, consists of two interconnected buildings offering both private and semi-private rooms, as well as a dedicated ventilator unit.

Lexington, which has been rebranded as Canterbury Rehabilitation & Healthcare Center, is located at 1776 Cambridge Drive in Richmond. The 69,358-square-foot, two-story building sits on a five-acre parcel and is within a 15-minute drive of two local area hospitals. The facility offers both private and semi-private rooms.

Westmoreland, located at 2400 McKinney Blvd. in Colonial Beach, is the only licensed nursing facility in Westmoreland County. Situated on approximately four acres, the one-story, 25,000-square-foot building includes three patient wings with private and semi-private rooms, and a rehabilitation wing.

The three facilities have retained the services of Marquis Health Services, Tryko Partners’ healthcare affiliate. The highly skilled and vision-driven nursing home administrative services company currently supports Mid-Atlantic and New England facilities totaling nearly 4,500 skilled nursing and assisted living beds, as well as more than 2,000 independent living units. Together with a carefully assembled team of clinical, compliance and financial consultants, Marquis and its new member facilities will create specialized programming to better meet local healthcare needs.

M&T Bank, a repeat partner for Tryko Partners, provided purchase financing for the Virginia acquisition. “Tryko Partners continues to exercise a highly selective approach to expanding its skilled nursing portfolio, and the opportunity to add these three assets was an attractive – and logical – ‘next step’ geographically,” noted M&T Bank’s Christian Montgomery, vice president – senior health care relationship manager. “We always appreciate the opportunity to work with established, growing clients like Tryko and, ultimately, support them in executing their plans.”

In addition to investing in skilled nursing facilities, Brick, N.J.-based Tryko Partners also purchases multifamily properties and tax liens along the Eastern Seaboard and in the Midwest. Founded in 1989, the company has established successful, long-term partnerships with both individual and institutional investors, as well as a wide network of relationships with financing entities.