CHANTILLY, Va. — Hamister Real Estate Equity Fund III LP, a private estate fund sponsored by Hamister Group, has acquired Chantilly Heights Memory Care in Chantilly, approximately 25 miles west of Washington, D.C. It is the second Virginia assisted living and memory care facility to come under the Hamister Group umbrella. The group has operated Chantilly’s sister facility, Lansdowne Heights Memory Care in Leesburg, since 2020. Formerly named Arbor Terrace Fairfax, Chantilly Heights Memory Care offers two separate neighborhoods within the 35,550-square foot facility. Opened in 2017, the complex consists …
BEAUFORT, S.C. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 170-bed skilled nursing facility in Beaufort, a coastal city between Savannah and Charleston. The facility was constructed in several phases, beginning in 1969, and features predominantly semi-private rooms. Prior to the pandemic, the asset had demonstrated an ability to generate positive cash flows with occupancies exceeding 90 percent, but was significantly impacted by census and staffing headwinds, generating millions of dollars in operating losses. A REIT sold the asset to a New York-based owner-operator looking to …
DALLAS — Buckner Retirement Services has selected chef Stephan Pyles as chief culinary advisor for its senior living communities in Texas. The James Beard Award-winning chef from Texas will help enhance the culinary experiences at Buckner Villas in Austin, Calder Woods in Beaumont, Parkway Place in Houston, and Buckner Westminster Place in Longview, in addition to his established advisory role with Ventana by Buckner in Dallas. Buckner previously collaborated with Pyles to craft a new type of dining experience for seniors ahead of the opening of Ventana by Buckner in …
By Taylor Mokris and Kim Huffstutler In this market, with the twin difficulties of persistent inflation and interest rate hikes, it can be a challenge to find the right real estate investment. However, as lenders work with developers, owners and operators to make deals and find quality investments, there’s one real estate sector no savvy investor should overlook: seniors housing. Now is an opportune time for new and repeat lenders alike to have conviction around their commitment to this asset class. Not only does seniors housing have strong underlying fundamentals …
DUNEDIN, Fla. — Acts Retirement Life Communities and Mease Life have signed a letter of intent to explore an affiliation relationship. An affiliation in the nonprofit world is similar to an acquisition in the for-profit space. Mease Life is a continuing care retirement community (CCRC) in Dunedin that is home to approximately 350 residents. Under the proposed agreement, Mease Life will become an Acts affiliate member, and part of a network of CCRCs operated and managed by Acts, the nation’s third largest not-for-profit senior living organization. A due diligence review …
BALTIMORE — The M&T Realty Capital Corp. seniors housing team has closed a total of $247 million in financing transactions to date this year. The transactions include: $52.5 million Fannie Mae loan for a 191-unit seniors housing asset in the Nashville, Tennessee MSA. $38.4 million Fannie Mae loan for a 128-unit independent living building in the Sarasota, Florida MSA. $49.3 million Freddie Mac loan for a 179-unit seniors housing asset in Virginia. $5.3 million FHA 232/223(f) loan for a 105-bed assisted living facility in Tacoma, Washington. $101.5 million bridge-to-agency loan …
WASHINGTON — Capital Funding Group (CFG) has provided $3.3 million in bridge-to-HUD financing for the acquisition of two skilled nursing facilities. The facilities, which are located in Washington, feature 108 beds. Further details on the location and borrower were not disclosed. Tim Eberhardt and Ava Julio originated the transaction.
CHICAGO — Partner Valuation Advisors, a Chicago-based national commercial real estate valuation advisory firm, has hired Brian Chandler as senior managing director. Based in Raleigh, North Carolina, Chandler will lead the company’s seniors housing practice, focused on conducting appraisals, market studies, large portfolio engagements and consulting assignments for properties on a national basis. He will also be a member of the firm’s national leadership team. Since launching in September 2022, Partner Valuation Advisors has completed more than 700 valuations across 40 states with an aggregate commercial real estate value exceeding …
NEWTON, Mass. — Office Properties Income Trust (NASDAQ: OPI) has entered into a definitive merger agreement whereby the office REIT will acquire all the outstanding common shares of Diversified Healthcare Trust (NASDAQ: DHC), a REIT that owns properties in the medical office, life sciences and seniors housing sectors. The combined company will have approximately $12.4 billion of total gross assets under management, representing 539 properties across 40 states and Washington, D.C. The portfolio comprises about 264 seniors housing communities, 10 triple-net-leased wellness centers and 265 medical office, traditional office and …
BOUNTIFUL, Utah — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 145-unit independent living, assisted living and memory care community in Bountiful, approximately 10 miles north of Salt Lake City. The facility was built in 1978 expanded in 1999. The property totals 124,673 square feet on approximately 2.4 acres of land. The buyer was a California-based private equity group partnering with a Salt Lake City-based management company. They plan to invest heavily in remodeling the community and improving the overall performance. Vince Viverito and Brad Clousing of …