EUGENE and SPRINGFIELD, Ore. — JLL Capital Markets has arranged $40 million in acquisition financing for a portfolio comprising three seniors housing communities in Oregon. Totaling 344 units, the properties are located in Eugene and Springfield. Built between 1996 and 2006 and renovated in 2021, the communities include Evergreen Senior Living in Eugene and Timber Pointe and Woodside Senior Living in Springfield. Together, the properties offer 43 independent living, 245 assisted living and 56 memory care residences. Amenities at the communities include on-site dining, complimentary transportation, television lounges, libraries, beauty salons …
SAN CLEMENTE, Calif. — CareTrust REIT has acquired 13 skilled nursing facilities in Tennessee for $176 million, as the second phase of a portfolio transaction in the state. California-based CareTrust purchased the properties through a joint venture arrangement with a third-party healthcare real estate owner. Each of the 13 facilities will be operated by existing CareTrust tenants under new, long-term master lease agreements. Affiliates of the Ensign Group will operate six of the facilities, with affiliates of Links Healthcare Group operating the remaining seven. The portfolio transaction totals $421 million and …
THE VILLAGES and WINTER PARK, Fla. — Titan Development has sold a portfolio of three seniors housing communities located in The Villages and Winter Park. The properties included in the portfolio — which totals 416 units — are Watercrest Buena Vista, Watercrest Spanish Springs and Watercrest Winter Park. JLL Capital Markets brokered the sale on behalf of Titan. AEW Capital Management acquired the portfolio for an undisclosed price. Watercrest Buena Vista and Watercrest Spanish Springs are located in The Villages, a master-planned community roughly 45 miles northwest of Orlando. Built in 2018, …
OAK BROOK, Ill. — An affiliate of Inland Real Estate Acquisitions has acquired a 635-unit senior living portfolio. The portfolio comprises three newly constructed Clarendale communities — Clarendale of Chandler in Chandler, Arizona; Clarendale of St. Peters in St. Peters, Missouri; and Clarendale at Indian Lake in Hendersonville, Tennessee. Amenities at the properties, which feature independent living, assisted living and memory care residences, include swimming pools, wellness centers, full-service salons, entertainment, dining and access to outpatient services and 24-hour security. The portfolio’s average occupancy was 92 percent at the time of …
CINCINNATI — Sonida Senior Living has acquired a seniors housing community in Cincinnati for $16.3 million. Development of the property was completed in 2021, however the community did not open, due to construction finance foreclosure. Totaling 82 units, the community will offer 50 assisted living and 32 memory care residences. The property is situated adjacent to Sonida’s existing Wellington at North Bend Crossing community, which features 121 senior living units. Together, the properties will comprise a 203-unit, two-community campus offering a continuum of care. Sonida funded the acquisition with $18.3 million …
SPOKANE, Wash. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Moran Vista Senior Living, a 131-unit seniors housing community located in Spokane. Originally built in 1997 and renovated and expanded in 2008, the property features independent living, assisted living and memory care residences. A regional owner-operator acquired the community from a Pacific Northwest-based seller. The buyer’s portfolio comprises roughly 20 properties throughout Washington and Arizona. Jason Punzel of SLIB brokered the transaction.
BARTLETT, Ill. — Continuum Advisors has brokered the $42 million sale of The Oaks at Bartlett, a senior living community located in Bartlett, roughly 35 miles northwest of downtown Chicago. Built in 2007, the property totals 283 units, with 10 cottages, 154 independent living apartments, 16 memory care units and 54 skilled nursing units. Michael Flanagan of Flanagan & Associates served as the receiver for the property, which recently defaulted on its bond obligations. Certus Living has operated the community since the default. David Kliewer and Jay Jordan of Continuum arranged …
CHICAGO — Investment management firm Harrison Street has sold a 1,186-unit seniors housing portfolio to Morgan Stanley Real Estate Investing (MSREI), the private real estate investment arm of Morgan Stanley Investment Management. Originally acquired by Harrison Street in a joint venture partnership with Brightview Senior Living in 2014, the portfolio comprises eight communities located in the Baltimore, Philadelphia and Boston-Providence metros. Jay Wagner, Rick Swartz, Aaron Rosenzweig, Tim Hosmer and Sean Kirk of JLL National Seniors Housing Capital Markets brokered the sale on behalf of Harrison Street. Allison Holland and Alex …
PENSACOLA, Fla. — SLIB has brokered the sale of a 118-bed skilled nursing facility located in Pensacola. A publicly traded REIT sold the property to an owner based in the Northeast. Bradley Clousing and Daniel Geraghty of SLIB arranged the transaction.
PITTSBURGH, Pa. — Senior Living Investment Brokerage (SLIB) has brokered the $11 million sale of a skilled nursing facility portfolio located in Pennsylvania. Situated primarily within metro Pittsburgh, the portfolio comprises 299 beds across five properties. Originally built between 1964 and 1992, the portfolio was first marketed in fall 2023. Ryan Saul and Toby Siefert of SLIB represented the seller, Guardian Healthcare, in the transaction. According to SLIB, Guardian Healthcare is currently in bankruptcy proceedings, and the properties had struggled financially prior to the sale. A regional owner-operator was the buyer.
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