INDIANAPOLIS — Sonida Senior Living has acquired two recently renovated senior living communities in metro Indianapolis for approximately $12.3 million. Core Redevelopment, a local multifamily developer and manager, acquired the communities in 2019 and immediately rebranded and repositioned the properties through interior and exterior renovations. Walker & Dunlop Investment Sales brokered the transaction. The communities, Northfield Senior Living and Southfield Senior Living, include 157 independent living units and are located approximately 20 minutes outside of downtown Indianapolis near major highways, stores and restaurants. The assets complement Sonida Senior Living’s existing …
NAMPA, Idaho — Blueprint Healthcare Real Estate Advisors has arranged the sale of a seniors housing community in the Boise suburb of Nampa. The single-story community features 107 independent living units, 18 assisted living units and 42 licensed skilled nursing beds. The REIT owner and operator collectively decided to divest the property, as it was the operator’s only Idaho location. Cascades Healthcare acquired the asset for an undisclosed price.
DUBLIN and NOVATO, Calif. — Southern California private equity firm IRA Capital has acquired two newly constructed assisted living and memory care facilities totaling 160 units in the Northern California cities of Dublin and Novato for $106.5 million. An active player in the medical office, life sciences and ambulatory surgery space, IRA Capital is growing and diversifying its healthcare real estate portfolio by expanding into seniors housing in high-barrier-to-entry markets on the West Coast. Elegance Senior Living operates the two Class A communities. Elegance at Dublin is an 80-unit community …
EAGLE, Idaho — The Pennant Group Inc. (NASDAQ: PNTG), an Eagle-based REIT, has agreed to transfer the operations of five senior living communities to affiliates of The Ensign Group Inc. The five communities are located in Washington, Arizona and California and are co-located with skilled nursing facilities already operated by affiliates of Ensign. The transaction is anticipated to occur across separate closings in the first half of 2022, subject to receipt of third-party approvals and other customary closing conditions. On the same day, Pennant Group announced that it has entered …
ALABAMA and TENNESSEE — Blueprint Healthcare Real Estate Advisors has arranged the sale of a two-property portfolio of communities in Alabama and Tennessee. The portfolio included two seniors housing communities consisting of 152 units of independent living, assisted living and memory care. The properties were built in 2018. An Alabama-based owner-operator bought the assets as part of a plan to increase its footprint in the Southeast. The seller and price were not disclosed.
JENSEN BEACH, Fla. — Grandbridge Real Estate Capital’s Tampa-based Senior Housing Investment Sales team has arranged the sale of The Cabana at Jensen Dunes. The 126-unit assisted living and memory care community is located in Jensen Beach, a coastal community approximately midway between Miami and Orlando. The community opened in August 2016. Convivial Life acquired the asset, along with an adjacent 11.4-acre development parcel, for $32.5 million. The vacant portion of land is fully entitled for 210 units of independent living. The seller was not disclosed. Ziegler arranged acquisition financing …
CANTON, Ga., and AMELIA ISLAND, Fla. — Blueprint Healthcare Real Estate Advisors has arranged the sales of two seniors housing communities in the Southeast. The first property is The Arbor at Bridgemill, opened in 2018 and featuring 206 units in the Atlanta suburb of Canton. The second asset is The Lakeside at Amelia Island, opened in 2019 and featuring 187 units in the tourist destination of Amelia Island, just northeast of Jacksonville. Aspire Development Partners built the communities, which The Arbor Company operates. The buyer and price were not disclosed.
OKLAHOMA and TEXAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of two Class A memory care communities. The properties were built in the Oklahoma City and Dallas metro areas, delivering in 2016 and 2018. The portfolio totals 76 units. Both assets leased-up rapidly and demonstrated consistent upward trending operational performance throughout the COVID-19 pandemic, with occupancies exceeding 95 percent while generating $5.9 million in total revenue and $1.9 million in EBITDAR representing a 32.5 percent operating margin. The developer/operator sold the properties to a new partner in …
FLORIDA — Blueprint Healthcare Real Estate Advisors has arranged the $51 million sale of two skilled nursing facilities, on in Central Florida and one in Northeast Florida. The communities offer a total of 300 licensed beds near local medical centers. A Florida-based owner operator sold the properties to an undisclosed buyer in an off-market transaction.
KANSAS CITY, Mo. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 400-bed skilled nursing portfolio in the Kansas City metro area. The seller was a Missouri-based family office that developed the portfolio in the late 1990s along with its wholly owned management company, Capital Health Management. The buyer was an East Coast-based investor and its operations partner, both looking to expand in Missouri. The price was not disclosed.