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Acquisitions

Ben Mohns
AcquisitionsIllinoisNew YorkNews

Harrison Street Sells New York Seniors Housing Portfolio for $600M

by Hayden Spiess

CHICAGO — Investment management firm Harrison Street Asset Management has sold a portfolio of seniors housing communities located in the state of New York for more than $600 million. The buyer was not disclosed, but multiple media outlets report the buyer was senior living giant Ventas Inc. (NYSE: VTR). The portfolio comprises five communities. Harrison Street developed the properties in partnership with B2K Development between 2016 and 2022. Amenities at the communities include swimming pools, theaters, fitness centers, libraries and lifestyle programming.  “This transaction exemplifies Harrison Street’s ability to produce value by …

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AcquisitionsAssisted LivingNew YorkNews

SLIB Arranges $7M Sale of Assisted Living Community in Eastern New York

by Hayden Spiess

HOOSICK FALLS, N.Y. — Senior Living Investment Brokerage (SLIB) has arranged the $7 million sale of Danfourth Adult Care Center, an assisted living community located in Hoosick, roughly 35 miles northeast of Albany.  The facility totals 80 beds across 57 units. A New Jersy-based owner and operator acquired the property from an undisclosed seller.  Dave Balow of SLIB brokered the transaction. 

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AcquisitionsCaliforniaNews

Artemis Real Estate Partners Acquires 155-Unit Community Near San Francisco

by Hayden Spiess

FOSTER CITY, Calif. — Artemis Real Estate Partners has acquired Atria at Foster Square, a 155-unit senior living community located in Foster City, roughly 20 miles southeast of San Francisco. Artemis purchased the property in partnership with the current operator, Atria Senior Living, which will continue to manage the community under its Atria Signature Collection brand.  Built in 2016, the property was developed as part of a mixed-use master-plan town center. Amenities at the community include a theater, fitness center, activity and game rooms, a library, courtyard, physical therapy space and …

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Avanti-Portfolio
AcquisitionsLouisianaNewsTexas

Joint Venture Sells Portfolio in Texas, Louisiana

by Hayden Spiess

HOUSTON — A joint venture between Avanti Senior Living and Iron Point has sold a seniors housing portfolio located in Texas and Louisiana. Developed between 2015 and 2019, the portfolio is located in Houston, Dallas, New Orleans and Lafayette, Louisiana. Each of the communities, which include assisted living and memory care residences, totals roughly 90 units. Avanti manages the assets.  JLL Capital Markets brokered the sale on behalf of the joint venture. 

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AcquisitionsAssisted LivingCaliforniaMemory CareNews

Steadfast Senior Living Sells 67-Unit Community in Morgan Hill, California 

by Hayden Spiess

MORGAN HILL, Calif. — Steadfast Senior Living has sold Loma Clara, a 67-unit community located in Morgan Hill, for an undisclosed price. LTC REIT was the buyer.  Completed in 2018, Loma Clara features 42 assisted living units and 25 memory care units. The property was roughly 92 percent occupied at the time of sale. Units total 529 square feet on average. Amenities at the community include a theater, fitness center, activity and game rooms, a library, outdoor courtyard, physical therapy space and bistro. Discovery Management will continue to operate the property.  …

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AcquisitionsFinanceMontanaNewsOregon

Integrated Senior Foundation Receives $79.3M Acquisition Financing for Three Communities in Oregon, Montana

by Hayden Spiess

BREA, Calif. — Integrated Senior Foundation, a non-profit senior living provider, has received $79.3 million in tax-exempt, floating-rate financing for the acquisition of three properties located in Oregon and Montana.  The communities include Magnolia Gardens in Cottage Grove, Oregon; Wiley Creek in Sweet Home, Oregon; and The Lodge in Great Falls, Montana. Together, the properties total 287 units, with 23 independent living, 190 assisted living and 74 memory care units. Magnolia Gardens features 101 units with a full continuum of care. Wiley Creek comprises 108 units, including independent living, assisted living …

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AcquisitionsCaliforniaFinanceNews

Harrison Street Receives Acquisition Financing for 153-Unit Community in Carlsbad, California

by Hayden Spiess

CARLSBAD, Calif. — Harrison Street has received a loan to facilitate the acquisition of a 153-unit senior living community located in Carlsbad.  The community, Oakmont Santianna, totals 153 units, including independent living, assisted living and memory care residences. Oakmont Management Group developed the property, which opened in 2022.  BWE arranged the financing, which includes a 10-year, fixed-rate loan with full-term interest-only payments. A life insurance company provided the loan.  Oakmont Management Group will continue to operate the community on behalf of the new ownership. 

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AcquisitionsNewsSkilled NursingWisconsin

Marcus & Millichap Arranges $9.5M Sale of Skilled Nursing Facility in Wisconsin

by Hayden Spiess

MERRILL, Wis. — Marcus & Millichap has arranged the $9.5 million sale of a skilled nursing facility located in Merrill.   Totaling 120 beds, Pine Crest Nursing Home features 117 units, with 105 private rooms and 15 semi-private rooms. A memory care unit, rehabilitation center and special care units were recently added to the property.  The facility was 70 percent occupied at the time of sale. Ray Giannini of Marcus & Millichap brokered the sale on behalf of the seller and procured the buyer. 

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AcquisitionsActive AdultNewsTexas

Capital Square Acquires 62-Unit Active Adult Community in Fredericksburg, Texas

by Hayden Spiess

FREDERICKSBURG, Texas — Capital Square has acquired Woodland Cottages, an active adult community located in Fredericksburg.  Woodland Cottages totals 62 units, with 20 one-bedroom and 42 two-bedroom residences. One-bedroom and two-bedroom apartments at the property average 899 and 1,355 square feet, respectively. Amenities at the community include a 6,000-square-foot clubhouse, a swimming pool, fitness center and dedicated resident concierge.  Capital Square acquired the property on behalf of its CS1031 Texas Active Adult Living I DST fund, which is currently raising equity from accredited investors. 

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AcquisitionsAssisted LivingNewsSkilled NursingTennesseeVirginia

Blueprint Brokers Sale of 402-Bed Portfolio in Tennessee, Virginia

by Hayden Spiess

JOHNSON CITY, Tenn. — Blueprint has arranged the sale of a 402-bed portfolio located in Tennessee and Virginia.  Ballad Health, a Johnson City, Tennessee-based not-for-profit integrated healthcare system, was the seller.  The portfolio comprises three skilled nursing facilities and one assisted living community. Ahava Healthcare, a New York-based owner and operator, acquired the portfolio for an undisclosed price. 

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