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Seattle & Northwest  + Senior Housing  | 

NHI in $133M JV with LCS to Buy Senior Housing Property in Issaquah

Murfreesboro, TN-based National Health Investors, Inc. (NHI) and an affiliate of Des Moines, IA-based Life Care Services (LCS), formed a joint venture to own and operate Timber Ridge at Talus, a continuing care retirement community in Issaquah. The NHI-LCS JV is acquiring the asset from a joint venture between Westminster Capital and LCS for $133 million.

NHI President and CEO Eric Mendelsohn stated, “Timber Ridge is a first-class community in a high barrier to entry market in the Pacific Northwest, and an excellent fit to the growing NHI portfolio.”

The existing campus was originally built in 2008 and an extensive expansion project was completed in 2017, with financing provided by NHI. The Type A CCRC community is more than 95% occupied and has 401 units including 330 independent living apartments, 14 assisted-living apartments, 12 memory care apartments and 45 skilled nursing beds.

The deal is expected to close on or around January 31, 2020.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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