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Acquisitions

AcquisitionsActive AdultNew YorkNews

Marcus & Millichap Brokers $118M Sale of Active Adult Community on Long Island

by Jeff Shaw

PORT JEFFERSON STATION, N.Y. — Marcus & Millichap has brokered the sale of The Vistas of Port Jefferson, a 244-unit active adult community in Port Jefferson Station. Built in 2019 on 27 acres, the 30-building property is located on the North Shore of Suffolk County in Long Island. The unit mix is 36 one-bedroom flat units, 144 two-bedroom flat units, and 64 two-bedroom townhouses. The Port Jefferson Long Island Railroad station and Northwell Mather Hospital are both nearby. The asset sold for $118 million, or $483,607 per unit. Greystar acquired …

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AcquisitionsIndustry Voices

Broker Q&A: Brokers Remain Optimistic

by Jeff Shaw

Dealmakers in seniors housing feel the effects of the industry’s pandemic-related challenges, but they see brighter days on the horizon. Roundtable participants Brooks Minford, Director, Berkadia Charles Bissell, Managing Director, JLL Capital Markets Cindy Hazzard, Broker, JCH Senior Housing Brokerage Richard Swartz, Vice Chairman, Cushman & Wakefield Jason Stroiman, Founder and President, Evans Senior Investments Brooks Blackmon, Senior Director, Blueprint Healthcare Real Estate Advisors Vince Viverito, Senior Vice President, Senior Living Investment Brokerage By Jeff Shaw The brokers in seniors housing may have the deepest knowledge of the industry. In order to link sellers with buyers, they have to understand every aspect of the …

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AcquisitionsAffordable HousingCaliforniaNews

Avanath Acquires 360-Unit River Run Senior Affordable Community in Corona, California

by Jeff Shaw

CORONA, Calif. — Avanath Capital Management, LLC has acquired River Run Senior, a 360-unit affordable seniors housing community in Corona, located in Riverside County. The price and seller were not disclosed. With this acquisition, Avanath now owns 11 properties in Southern California with 2,187 units under management in the region. River Run is the company’s second acquisition in Riverside County; the first, Woodside Senior, was acquired by Avanath in 2014. It is also Avanath’s third acquisition in Southern California in the past nine months. “The property is consistently 99 percent …

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AcquisitionsLouisianaNewsSkilled Nursing

ESI Arranges $30M Sale of Maison de Lafayette Skilled Nursing in Louisiana

by Jeff Shaw

LAFAYETTE, La. — Evans Senior Investments (ESI) has arranged the sale of Maison de Lafayette, a 189-bed skilled nursing community in Lafayette. At a sales price of $30 million, or $159,000 price per bed, the transaction represents the highest price per bed ever sold in Louisiana for a skilled nursing community, according to ESI. Built in 1992 and expanded in 2009 and 2012, the community exhibited a modern physical plant with a unit configuration of 125 private rooms. The community had a history of stabilized performance with census averaging 93 …

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AcquisitionsDevelopmentFinanceNewsVirginia

HJ Sims Arranges $93.4M in Financing for LifeSpire Acquisition, Campus Improvements

by Jeff Shaw

GLEN ALLEN, Va. — HJ Sims has arranged $93.4 million in financing for LifeSpire of Virginia, a continuing care retirement owner-operator based in Glen Allen. LifeSpire currently owns and operates four life plan communities in Virginia: The Chesapeake, The Culpeper, The Glebe and Lakewood. The financing provided funds for the acquisition The Summit in Lynchburg, for capital projects Lakewood and The Culpeper, and to refinance existing bank debt with permanent bond debt. The seller in the Summit transaction is Centra Health System. The $30.3 millionsale also includes adjacent developable land …

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AcquisitionsIdahoNewsOperationsSkilled NursingTexas

The Ensign Group Acquires Operations of Three Skilled Nursing Facilities in Texas, Idaho

by Jeff Shaw

BOISE, Idaho, and TRINITY and DE SOTO, Texas — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of two skilled nursing facilities in Texas and one in Idaho. The portfolio includes: River Pointe of Trinity Healthcare and Rehabilitation Center, a 98-bed skilled nursing facility located in Trinity; Park Village Healthcare and Rehabilitation, a 150-bed skilled nursing facility in De Soto; Skyline Transitional Care Center, an 80-bed skilled nursing facility located in Boise. The acquisitions are subject to a long-term, triple-net lease. This acquisitions bring Ensign’s portfolio to 245 …

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AcquisitionsNewsOregon

SLIB Negotiates $17M Sale of Two-Property Portfolio in Oregon

by Jeff Shaw

GRANTS PASS and MEDFORD, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Bridge in Grants Pass and The Orchards in Medford. The properties are approximately 30 miles apart in the southwest corner of the state. The Bridge was constructed in 2001 and offers independent living and assisted living. The Orchards was built in 2000 and offers assisted living. The communities offer a total of 148 units in a combined 103,455 square feet across 3.6 acres of land. A local ownership group with only these two …

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AcquisitionsMemory CareNewsOregon

SLIB Brokers Sale of 37-Unit Countryside Living Memory Care Community in Canby, Oregon

by Jeff Shaw

CANBY, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Countryside Living, a memory care community in Canby, approximately 21 miles south of Portland. The asset features 37 units and 55 beds. The community was originally built in 1959; gutted, remodeled and expanded in 2007; and had its most recent renovations and expansion in 2011. The facility is approximately 21,746 square feet and is situated on approximately 0.78 acres of land. The seller was a local owner that has multiple different business interests. The buyer is an …

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AcquisitionsConnecticutNewsSkilled Nursing

SLIB Negotiates Sale of 62-Bed Skilled Nursing Facility in Plainfield, Connecticut

by Jeff Shaw

PLAINFIELD, Conn. — Senior Living Investment Brokerage has arranged the sale of Villa Maria Nursing and Rehab, a 62-bed skilled nursing facility in Plainfield. The seller was a private owner looking to divest ownership of the asset, while remaining employed within the industry. The buyer is a New England-based owner-operator. Villa Maria represents its third community in Connecticut and is also strategically located within its current Connecticut footprint. The price was not disclosed. Dave Balow of SLIB handled the transaction.

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AcquisitionsAssisted LivingFinanceNew JerseyNews

BHI Provides $31.1M Loan for Lionstone Care Acquisition in Southern New Jersey

by Jeff Shaw

NEW JERSEY — BHI’s Healthcare Group has provided $31.1 million to Lionstone Care for the acquisition of an assisted living and memory care facility in Southern New Jersey. The facility has 110 units and is licensed for 130 beds. “Almost completely occupied, [the facility] has historically yielded impressive results,” says Tami Antebi, head of BHI’s Healthcare Group.

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