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Acquisitions

AcquisitionsAlabamaFeaturesNews

CBRE Arranges $9.5M Acquisition Financing for Pine Valley Retirement Community in Tuscaloosa, Alabama

by Jeff Shaw

TUSCALOOSA, Ala. — CBRE Senior Housing has arranged acquisition financing for Pine Valley Retirement Community, a 113-unit independent living and assisted living community in Tuscaloosa. The borrower is a joint venture between Winterpast Capital Partners and Broadview Real Estate Partners. The seller was not disclosed. Situated on a 10-acre site, the community comprises 98 independent living units, which includes 38 patio homes, and 15 assisted living units. Post-closing, the buyer plans to deploy approximately $2.4 million in capital upgrades. Aron Will, Austin Sacco and Tim Root of CBRE Senior Housing …

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AcquisitionsNewsSkilled NursingWashington

Blueprint Brokers Sale of 123-Bed Alaska Gardens Skilled Nursing Facility in Tacoma, Washington

by Jeff Shaw

TACOMA, Wash. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Alaska Gardens Health and Rehabilitation Center, a 123-bed skilled nursing facility in Tacoma. LTC Properties Inc., a publicly traded healthcare REIT based out of Westlake Village, California, sold the asset for an undisclosed price. The buyer was a private owner-operator.

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AcquisitionsMissouriNews

Arrow Senior Living Acquires Operations of The Westbury in Columbia, Missouri

by Jeff Shaw

COLUMBIA, Mo. — St. Louis-based operator Arrow Senior Living has added The Westbury Senior Living to its portfolio. The continuum of care community is located within Westbury Village, a newly developed neighborhood. The Westbury Senior Living is Arrow’s 12th community in its Missouri portfolio and is scheduled to open in early November. Arrow also announced leadership changes within the company. Sarah Klebolt has been appointed as general counsel and Michael Boyd joined the team as managing director of asset management. Klebolt will be responsible for Arrow’s legal and compliance departments …

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AcquisitionsFinanceIndependent LivingNewsOhio

HJ Sims Arranges $26.3M Acquisition Financing for Polaris Retirement Community in Columbus, Ohio

by Jeff Shaw

COLUMBUS, Ohio — HJ Sims has arranged $26.3 million in financing for United Church Homes, a seniors housing provider based in Sandusky. The borrower will use the funds to acquire Polaris Retirement Community in Columbus from Polaris Retirement Living Properties LP. The newly built independent living community features 136 one- and two-bedroom apartments. The Polaris Retirement Community was in the final stages of construction when UCH was invited to bid on acquiring the project. The acquisition was structured to have UCH take possession following the issuance of a Certificate of …

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AcquisitionsNewsSkilled NursingTexas

SLIB Negotiates $7.8M Sale of Three-Property Skilled Nursing Portfolio in Texas

by Jeff Shaw

HENRIETTA, OLNEY and NOCONA, Texas — Senior Living Investment Brokerage has arranged the sale of three skilled nursing facilities located in Henrietta, Olney and Nocona. The portfolio totals 250 beds. The assets total 14,500 square feet on 0.77 acres, 20,000 square feet on 2.07 acres and 23,000 square feet on 3.03 acres, respectively. The properties are within approximately 90 miles of each other and located northwest of Dallas near the Oklahoma border. An independent owner-operator exiting the industry sold the facilities for $7.8 million. The buyer was an out-of-state owner-operator …

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AcquisitionsNewsOhioSkilled Nursing

Blueprint Brokers Sale of 92-Bed Park View Nursing Center in Edgerton, Ohio

by Jeff Shaw

EDGERTON, Ohio — Blueprint Healthcare Real Estate Advisors has negotiated the sale of Park View Nursing Center, a 92-bed skilled nursing facility in the Northwest Ohio town of Edgerton. The property opened in 1968 and was part of a larger portfolio of communities sold in 2020. The operator and REIT landlord elected to spin off Park View as a geographic outlier to the rest of that portfolio. A Kentucky-based operator seeking to grow through ownership purchased the facility for an undisclosed price.

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AcquisitionsNewsNorth CarolinaSouth Carolina

JLL Negotiates Sale of 558-Unit Portfolio in the Carolinas

by Jeff Shaw

CHARLESTON, S.C. — JLL Capital Markets has arranged the sale of nine senior living properties totaling 558 units of assisted living and memory care. Eight of the properties are in South Carolina with one property located in North Carolina. JLL arranged the sales on behalf of the seller, a large, publicly traded REIT. In the first transaction, eight properties totaling 506 units were sold to a private equity group and will rebranded with a new operator. The new owner plans to provide extensive capital expenditures for improvements to the communities. …

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AcquisitionsAssisted LivingKentuckyNews

SLIB Brokers Sale of Two Assisted Living Communities in Kentucky

by Jeff Shaw

BARDSTOWN and ELIZABETHTOWN, Ky. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Bluegrass Assisted Living, which comprises two assisted living communities 30 miles from each other in Bardstown and Elizabethtown. The communities offer a combined total of 84 units on three acres. A California-based owner-operator looking to exit seniors housing sold the assets for an undisclosed price. The assets are the first acquisitions for a newly formed operator based in the Southeast. The price was not disclosed. Daniel Geraghty and Bradley Clousing of SLIB handled the transaction …

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AcquisitionsCaliforniaFinanceNevadaNews

Greystone Closes Financing for Harrison Street Acquisitions in Southwest

by Jeff Shaw

TORRANCE, SACRAMENTO and NOVATO, Calif., and LAS VEGAS — Greystone has arranged debt financing for the acquisition of four senior housing properties in the Southwest. The borrower was Harrison Street. Although the amount of financing was not disclosed, the acquisition price is $546,700 per unit, which would equate to approximately $254.2 million. The properties are located in Torrance, Sacramento, Novato and Las Vegas, totaling 465 units. The seller was Gallaher Cos. and the operator is Oakmont Management Group. A life company provided the funds. This acquisition is the second tranche …

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AcquisitionsAssisted LivingIndianaNews

ESI Arranges Sale of Assisted Living Community in Indiana

by Jeff Shaw

INDIANA — Evans Senior Investments (ESI) has arranged the sale of an assisted living community in Indiana. The price and location were not disclosed. The seller was a publicly traded REIT seeking to divest of a non-performing asset. In 2018, the community had stabilized occupancy levels aboce 95 percent. However, in recent years the occupancy has slipped due to new competition in the surrounding submarket. At the time of sale, the community’s unit occupancy was 60 percent and it was operating at a negative cash flow margin. The buyer was …

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