NAMPA, Idaho — Blueprint Healthcare Real Estate Advisors has arranged the sale of Streamside Assisted Living & Memory Care in Nampa. The community features 54 assisted living units and 25 secured memory care units. A regional buyer expanding in the Pacific Northwest acquired the property from a local seller. Further details were not disclosed.
MEQUON, Wis., OXFORD, Miss., and SUMMERVILLE, S.C. — Walker & Dunlop has brokered the sales of three seniors housing communities located in the Midwest and Southeast. In the first transaction, Walker & Dunlop brokered the sale of Wright House Senior Living, a 110-unit independent living, assisted living and memory care community in Mequon. The lead broker was Alex Vice. In the second transaction, Walker & Dunlop brokered the sale of The Blake at Oxford, a 100-unit assisted living and memory care community in Oxford. The buyer was Chicago Pacific Founders, …
IRVINE, Calif. — Sabra Health Care REIT (NASDAQ: SBRA) has completed the $23.6 million acquisition of a 113-unit seniors housing property in Jasper, Indiana. The deal is a sale-leaseback transaction with the seller and operator, Legacy Living. The asset opened in 2019 and features 18 independent living cottages, 70 assisted living units and 25 memory care units. The lease has an initial term of 15 years with two five-year extension options. In a simultaneous, but unrelated, transaction, Sabra also transitioned three of its skilled nursing facilities to a new operator. …
MAPLEWOOD, Minn. — JLL Capital Markets has arranged the $27.3 million sale of Frost English Silver, a newly built, luxury apartment community for residents age 55 and older in Maplewood, a suburb of Minneapolis. The property’s 107 units average 876 square feet each. Josh Talberg, Mox Gunderson, Dan Linnell, Adam Haydon and Ken Dayton of JLL represented the seller, Sherman Associates. Jeff Lepley of JLL arranged acquisition financing on behalf of the buyer, an affiliate of Axial Real Estate Advisors LLC. JLL is providing the seven-year, fixed-rate Fannie Mae loan.
FALLBROOK, Calif. — Contour, a real estate investment and development company, has acquired Estancia Senior Living in Fallbrook, a suburb of San Diego. The price was $35 million. Located on a 3.4-acre lot, the two-story property features 79 assisted living units and 25 memory care units. The 88,892-square-foot community opened in summer 2021. The sale also included approximately five acres of additional vacant land, located directly adjacent to the property. Meridian Senior Living will continue to operate the asset following the sale. Alanna Ellis and Jeff Sause of JLL Capital …
HEMET, Calif. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Zen Diamond Valley Senior Living Apartments, a 177-unit active adult community in the Inland Empire city of Hemet. Investment Concepts acquired the property for $23.9 million. “One of the fastest-growing submarkets in Southern California, the Inland Empire is well suited to meet demands for seniors housing,” says Bill Roblero, vice president of investments in Marcus & Millichap’s Ontario office. “Supported by the area’s strong economic fundamentals and demographics, Zen Diamond Valley Senior …
MARSHALL and MT. PLEASANT, Mich. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Maplewood of Marshall and Maplewood of Mt. Pleasant, located approximately 100 miles away from each other in Central Michigan. The assets feature a combined total of 93 assisted living units. Built in the late 1980s and 1990s with renovations in the early 2000s, the communities were well maintained with over 95 percent occupancy prior to the onset of the global pandemic. The operator ultimately decided to exit its only assisted living communities to concentrate …
PACE, Fla. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Canopy on Berryhill, a seniors housing community in the Pensacola suburb of Pace. The community offers assisted living and memory care and consists of 64 units and 80 beds. The property opened in late December 2019. The first resident move-ins occurred in late December 2019 and early January 2020. Despite the challenges of COVID-19, the property achieved 95 percent occupancy in less than a year. A partnership led by Florida-based developer Rimrock Cos. sold the asset. The buyer …
SPRING VALLEY, N.Y. — Hudson Valley Property Group (HVPG) has acquired two affordable housing communities in the New York City suburb of Spring Valley $25.8 million. The properties include the 114-unit Lakeview Village, which is reserved for seniors, and the 76-unit Highview Apartments, which is reserved for families. Affordability restrictions at the property were set to expire in 2022. With Low-Income Housing Tax Credits (LIHTC), HVPG will acquire the properties, complete renovation upgrades and keep rents affordable for the long term. All apartments will be income-restricted to tenants earning 60 …
MONROE, N.C. — KeyBank Community Development Lending and Investment (CDLI) has provided $6.5 million of capital for an affiliate of National Church Residences (NCR). The funds will be used to rehabilitate Cotton Street Commons an affordable senior housing property in Monroe, N.C. Cotton Street Commons is a 72-unit pet-friendly property, originally constructed in 1978, serving households with incomes between 30 percent and 60 percent of area median household income. Its 18 single-story buildings contain 64 one-bedroom and eight two-bedroom units and include accessible units. The $6.5 million construction loan, convertible …
