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Hayden Spiess

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AcquisitionsAssisted LivingIllinoisMemory CareNews

SLIB Arranges Sale of 13-Property Portfolio in Georgia, South Carolina

by Hayden Spiess

WHEATON, Ill. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a senior living portfolio totaling 13 properties in Georgia and South Carolina. Built between 1989 and 2014, the communities total 672 units, with 492 assisted living units and 180 memory care units.  SLIB represented the undisclosed seller in the transaction A Southeast-based operator acquired the portfolio for an undisclosed price. The buyer plans to implement a repositioning strategy to stabilize the assets.  Brad Clousing, Dan Geraghty and Jeff Binder of SLIB negotiated the transaction. 

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Company NewsFinanceIllinoisNews

Blueprint Acquires MidCap’s HUD Lending Platform

by Hayden Spiess

CHICAGO — Blueprint Healthcare Real Estate Advisors has acquired MidCap Financial Services’ FHA/HUD lending platform, marking a significant expansion of its Capital Markets practice.  Through the acquisition, Blueprint will be able to offer clients long-term financing solutions. According to the company, Blueprint plans to offer buyers acquisition financing and provide its broader client base with refinancing solutions.  Tony Marino has been appointed to lead the platform as senior managing director. Ramona Mitchell will serve as chief underwriter. Blueprint will also onboard the existing MidCap team, including Brian Therkildsen and Yvonne Redd.  …

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AcquisitionsNews

Harbert Management Corp. Sells Five-Property Portfolio 

by Hayden Spiess

BIRMINGHAM, Ala. — Harbert Management Corp. (HMC) has sold a portfolio of five senior living properties located across four states. The exact locations and property names were not disclosed.  Amenities at the communities, which HMC acquired or developed between 2017 and 2023, include fitness centers, salons, swimming pools and restaurant-style dining.  “We are proud to have built, developed and exited a portfolio of high-quality seniors housing properties that exemplifies our focus on geographic diversification across markets and high operational performance,” says Brian Landrum, senior managing director and co-fund manager for HMC’s …

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AcquisitionsCaliforniaMemory CareNews

Calson Sells Two California Communities to Kalesta Healthcare for $24.3M

by Hayden Spiess

MENLO PARK and SUNNYVALE, Calif. — Calson Management has sold two senior living communities located in California to Kalesta Healthcare. Kalesta acquired the properties for $24.3 million.  The communities — Silver Oaks Memory Care and Crescent Oaks Memory Care — are located in Melo Park and Sunnyvale, respectively. Calson originally acquired the properties as value-add opportunities.  Last year, Calson secured HUD financing for the properties. Grant Goodman, founder of G Capital, arranged the financing.  Anita Zerounian of Hanson Bridgett represented the buyer in the acquisition. Kevin Kinigstein of Cox Castle represented …

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Assisted LivingDevelopmentMemory CareNewsWisconsin

Azura Living Completes 72-Unit Community in Wisconsin

by Hayden Spiess

MUKWONAGO, Wis. — Azura Living has completed the development of a new assisted living and memory care community in Mukwonago, roughly 30 miles southwest of Milwaukee. The property, Azura Mukwonago, totals 72 units.  McShane Construction Co. acted as the general contractor on behalf of the developer. EUA designed the community, which features two assisted living buildings and one memory care building situated on a 6.4-acre site. Amenities at the property include community rooms, dining rooms, kitchens, sunrooms, a fitness center, spa, salon, community garden, putting green, walking paths and bocce ball …

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AcquisitionsNevadaNews

Clarion, Stellar Senior Living Acquire 174-Unit Community in Las Vegas

by Hayden Spiess

LAS VEGAS — A joint venture between a fund managed by Clarion Partners and Stellar Senior Living has acquired San Martin Senior Living, a seniors housing community located in Las Vegas.  The property, which will be renamed as The Grand at Southern Hills, comprises 174 units. Completed in two phases between 2008 and 2010, the community features 144 independent living and assisted living residences, with a separate, 30-unit memory care building. Amenities at the property include a clubhouse with a pub and bistro, theater, dog park and fitness center. Memory care …

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AcquisitionsFinanceMinnesotaNews

Berkadia Arranges Sale, Financing of 100-Unit Property in Minneapolis Suburb

by Hayden Spiess

LAKEVILLE, Minn. — Berkadia has arranged the sale and financing of The Pillars of Lakeville, a senior living community located in Lakeville, a suburb situated roughly 25 miles south of downtown Minneapolis.  Totaling 100 units, the property features independent living, assisted living and memory care. Amenities at the community include a fitness center, wellness programs, heated underground parking, a salon and spa, game room and pickleball court.  Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers of Berkadia represented the seller, a joint venture between Harrison Street Asset Management and Oppidan …

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Walt-Templin
Company NewsGeorgiaNews

Landmark Properties Enters Seniors Housing Sector

by Hayden Spiess

ATHENS, Ga. — Landmark Properties, a real estate firm that develops, constructs, invests in, acquires and operates residential communities, has announced its expansion into the seniors housing sector.  “Seniors housing sits at an attractive inflection point, having made a meaningful recovery from a unique black swan event and now exhibiting a pronounced supply-demand imbalance,” says Walt Templin, president and chief investment officer of Landmark. “This dynamic creates a compelling entry point for Landmark to leverage its vertically integrated platform.” Landmark has appointed Shashank Goel to lead the company’s entry into seniors …

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DevelopmentFeaturesFrom The Magazine

Developers Are Poised to Pounce as the Sector Readies for an Uptick in Activity

by Hayden Spiess

By Hayden Spiess Just as one swallow does not make a summer, the development projects currently underway do not equate to an overall recovery in activity. Similarly, strong demographic trends don’t ensure favorable market conditions for the construction of new communities.  These points have been amply proven by the current dynamic in the seniors housing sector. Baby boomers are aging in robust numbers, and the need for seniors housing units is increasing, but development activity remains depressed.  According to sources, a number of headwinds — including stubbornly elevated interest rates, …

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Tuscan Gardens of Palm Coast
AcquisitionsAssisted LivingFloridaMemory CareNews

Continuum Arranges Sale of 130-Unit Community in Northeast Florida

by Hayden Spiess

PALM COAST, Fla. — Continuum Advisors has arranged the sale of Tuscan Gardens of Palm Coast, an assisted living and memory care community located in Palm Coast.  Totaling 130 units, the property features 86 assisted living and 22 memory care units, as well as 22 “enhanced assisted living” residences.  The community was sold in receivership, with William King acting in the role of receiver. Jay Jordan and David Kliewer of Continuum led the court-approved sale process, which resulted in more than 15 written letters of intent and multiple rounds of bidding.  …

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