BUDA, AUSTIN and KYLE, Texas — JCI Senior Housing, a developer based in Austin, has added three communities in Texas to its portfolio. The communities are Buda Oaks Assisted Living and Memory Care in Buda, SoCo Village Assisted Living and Memory Care in Austin, and The Philomena Assisted Living and Memory Care in Kyle. JCI will operate the communities.
GLENDALE, Ariz. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Westgate Village, a 129-unit independent living community in Glendale. Located approximately nine miles northwest of downtown Phoenix, the property was built in 2017. It totals 112,000 square feet on approximately eight acres of land. A regional developer sold the community to a REIT for an undisclosed price. The new owner plans to keep the existing operator in place. Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the transaction. “This was a great opportunity for the …
INMAN, S.C. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Magnolia Manor, a 176-bed skilled nursing facility in Inman, located northwest of Spartanburg. The property represents over 40 percent of the total beds in the market and has twice the capacity of the next largest competitor, according to Blueprint. The large, East Coast-based operator bought the property and will continue to manage it. The seller and price were not disclosed.
AUSTIN and CEDAR PARK, Texas — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of Sedona Trace Health and Wellness Center, a 119-bed skilled nursing facility located in Austin, and Cedar Pointe Health and Wellness Center, a 122-bed skilled nursing facility located in Cedar Park. CareTrust REIT Inc. (NASDAQ: CTRE) acquired the real estate in the transaction and each operation will be added to an existing long-term, triple-net master lease, which is currently in place between Ensign affiliates and CareTrust. Terms of the transactions were not disclosed. This …
CLEARWATER, Fla. — JLL Capital Markets has arranged the sale of The Preserve at Clearwater, an assisted living and memory care property in the coastal Tampa suburb of Clearwater. JLL represented the seller, a joint venture between Solera Senior Living and Elkco Properties. The buyer, an experienced institutional investor, plans to retain Solera as property manager. The price was not disclosed. The Preserve at Clearwater is a 2012-vintage, 82-unit property that sits on an 11-acre parcel. The building is LEED Silver certified and located in close proximity to many of …
SAN BERNARDINO, Calif. — The Mogharebi Group has arranged the sale of Country Club Apartments, a 79-unit seniors housing community in San Bernardino. The buyer and seller were both private investment groups based in Los Angeles. The property sold for $18 million, or $228,000 per unit. “Due to the proven value-add upside, and close proximity to San Bernardino’s largest employers, the buyer pool was large,” says Otto Ozen, executive vice president of TMG. Ozen and Alex Mogharebi of TMG represented the seller in the transaction. Built in 1986, Country Club …
UTAH — HJ Sims has provided a high-leverage bridge loan for the acquisition of a senior living community in Utah. Featuring 55 units of assisted living and memory care, the community features mountain views from its hilltop location in a thriving and growing local market. A regional owner, operator and developer of seniors housing communities partnered with Sims to close on the acquisition. The buyer specializes in assisted living and currently manages over 1,600 units in more than 25 communities across five states in the Mountain West region. Partnering with …
RICHARDSON, Texas, and BEND, Ore. — RealPage Inc., a Richardson-based provider of software and data analytics to the real estate industry, has agreed to acquire G5 Search Marketing, Inc. (“G5”), a digital marketing, advertising and analytics provider. Both companies work in the seniors housing industry. Terms of the transaction were not disclosed. RealPage plans to combine its own real estate platform with G5’s solutions, accelerating RealPage’s vision for marketing optimization and a better renter experience for its customers. The transaction is expected to close during the third quarter of 2021. …
TAYLORVILLE and PARIS, Ill. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two Life’s Journey-branded memory care communities in Taylorville and Paris, located approximately 97 miles apart in the southern portion of Illinois. Life’s Journey of Taylorville features 46 units in 25,000 square feet on a 4.2 acre plot. The community was built in 2012 and renovated in 2014. Occupancy was 69 percent at the time of sale. Life’s Journey of Paris features 23 units in a 9,200-square-foot building on 0.7 acres. The community was built in …
STOCKTON, Calif. — JCH Senior Housing Investment Brokerage has arranged the sale of an 80-unit assisted living and memory care community in Stockton, located south of Sacramento and east of the Bay Area. JCH represented the sellers, a family-owned owner-operator looking to retire from the space. A local owner seeking to grow in the area acquired the property for $5.8 million. Jim Hazzard and Cindy Hazzard handled the transaction process.
