Acquisitions

AcquisitionsActive AdultNewsOklahoma

Blueprint Brokers Sale of Three Active Adult Communities in Metro Oklahoma City

by Jeff Shaw

MOORE, MUSTANG and EDMOND, Okla. — Blueprint Healthcare Real Estate Advisors has brokered the sale of three active adult communities in the Oklahoma City suburbs of Moore, Mustand and Edmond. The seller was Walters Construction Co., which developed the properties between 2010 and 2021. The portfolio features 350 units, including a recent 35-unit expansion at the Moore community. With the exception of that expansion, the communities were fully occupied at the time of sale. The buyer and price were not disclosed.

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AcquisitionsInvestmentMemory CareNewsOklahomaTexas

1031 Crowdfunding Acquires Memory Care Portfolio as Opportunity Fund Reaches Full Subscription

by Jeff Shaw

IRVINE, Calif. — 1031 Crowdfunding, an Irvine-based real estate investing platform, has fully subscribed its $16.9 million 1031CF Portfolio 1 DST. This is the company’s sixth investment in senior living care facilities. The fund was used to acquire two memory care communities. Iris Senior Living is the operator of both properties, which are located in the Dallas-Fort Worth and Oklahoma City metro areas. The facilities include a combined 88 beds and 76 units, and are currently 91 percent occupied. 1031 Crowdfunding’s affiliate, 1031 CF Properties LLC, created the investments to …

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AcquisitionsAssisted LivingIllinoisNews

New Perspective Acquires 100-Unit Arboria of Long Grove in Illinois

by Jeff Shaw

LONG GROVE, Ill. — Minnesota-based New Perspective, through its Purpose First Partners venture with Boldt Capital, has acquired Arboria of Long Grove, a seniors housing community in the Chicago suburb of Long Grove. The property will be rebranded New Perspective Long Grove. The building includes 60 assisted living apartments and 40 memory care apartments. New Perspective is managing and operating the Long Grove location. The company also operates a community in nearby Silvis.

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AcquisitionsMontanaNewsOregon

Harrison Street Sells Five Seniors Housing Properties in Oregon, Montana to Springs Living for $193.5M

by Jeff Shaw

MEDFORD and EUGENE, Ore., and BUTTE and BILLINGS, Mont. — Harrison Street has completed the disposition of five senior housing properties valued at $193.5 million to The Springs Living. The properties were held across several of Harrison Street’s U.S Opportunity Funds and related co-investment vehicles. The portfolio consists of 622 independent living, assisted living and memory care units in Medford, Eugene, Butte and Billings. As of December 2021, the properties had an average occupancy of 93 percent. Further details on the properties were not disclosed.

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AcquisitionsAlabamaConnecticutFinanceFloridaKentuckyMarylandNew YorkNews

JLL Arranges $145M in Acquisition Financing for 15-Community Portfolio Throughout the East

by Jeff Shaw

NEW YORK CITY — JLL Capital Markets has arranged $145 million in acquisition and capital improvement financing for two seniors housing portfolios. The first portfolio includes six properties throughout the Northeast, and the second comprises nine properties in the Southeast. JLL worked on behalf of the borrowers, Sculptor Real Estate and its operating partners, to secure two separate nonrecourse loans, one for each portfolio, through national banks. Each loan was fully underwritten without a syndication requirement. Additionally, JLL represented the undisclosed seller in the marketing and sale of the portfolios. …

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AcquisitionsCaliforniaFinanceIndependent LivingNews

CBRE Provides $8.4M in Acquisition Financing for Arbor Senior Living in Lodi, California

by Jeff Shaw

LODI, Calif. — CBRE has provided $8.3 million in financing for the acquisition of Arbor Senior Living in Lodi, approximately 40 miles south of Sacramento. Built in 1985, the community features 96 independent living units on a three-acre site. The borrower is Ray Stone Inc. Aron Will, Austin Sacco and Adam Mincberg of CBRE National Senior Housing partnered with CBRE Sacramento’s Kevin Randles to arrange the fixed-rate Freddie Mac financing. RSI will take over as operator following the sale.

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AcquisitionsMarylandNews

Tryko Partners Purchases Assisted Living, Skilled Nursing Portfolio in Maryland

by Jeff Shaw

ROCKVILLE and WESTMINSTER, Md. — Tryko Partners has purchased two skilled nursing and assisted living properties in Maryland, including Brighton Gardens of Tuckerman Lane in Rockville and Sunrise of Carroll in Westminster. Developed in 1998, Brighton Gardens of Tuckerman Lane is a 140-bed assisted living and skilled nursing community. Tryko will rename the property’s two components to The Terraces at Tuckerman Lane and Tuckerman Rehabilitation & Healthcare Center. Renovations to the property are planned, including the construction of a secure memory care unit. Sunrise of Carroll is a 62-bed assisted …

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AcquisitionsDevelopmentMichiganNewsOhioOperationsTennessee

Welltower Acquires 33-Property Seniors Housing Portfolio for $548M, Plans Two Developments in Silicon Valley

by Jeff Shaw

TOLEDO, Ohio — Welltower Inc. (NYSE: WELL), a Toledo-based healthcare REIT, has agreed to acquire 33 seniors housing communities totaling 2,787 units in Michigan, Ohio and Tennessee. The purchase price is $548 million. The communities will be acquired as three separate portfolios from undisclosed sellers. The communities were available for purchase because the lease-up process was heavily damaged by the onset of the COVID-19 pandemic. With occupancy at only 63 percent, Welltower expects the communities will greatly improve their performance in 2023 and beyond. Welltower will install Michigan-based senior living operator …

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AcquisitionsIllinoisNewsSkilled Nursing

CareTrust REIT Acquires Imboden Creek Living Center in Decatur, Illinois

by Jeff Shaw

DECATUR, Ill. — CareTrust REIT Inc. (NASDAQ: CTRE) has acquired The Imboden Creek Living Center, Gardens and Villas, a skilled nursing campus in Decatur, approximately midway between Chicago and St. Louis. The campus features 95 licensed skilled nursing beds, 46 assisted living units and five independent living units. The acquisition was a “tack-on” to CareTrust’s existing eight-property master lease with Harrisburg-based operator WLC Management Firm LLC, which will replace the outgoing operator. CareTrust’s initial investment in the facility, inclusive of capital expenditure commitments and transaction costs, was approximately $13.1 million. …

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