CHICAGO — Evans Senior Investments (ESI) has arranged the sale of Holy Family Villa and Bishop Lyne Residence, a nonprofit, 129-bed skilled nursing community with an 18-unit independent living component in Chicago. Built in 2002 with a 2012 rehabilitation unit addition, the community features 35 private resident rooms. Despite the contemporary design, the community was not profitable at the time of marketing, with census averaging 73 percent, resulting in a net operating loss. Prior to the COVID-19 pandemic, the community averaged 87 percent occupancy with 49 private-pay residents and 28 …
PENSACOLA, Fla. — Berkadia has negotiated the sale of Homestead Village Retirement Community, a 176-unit, 180-licensed-bed community in Pensacola. Tim Cobb and Brooks Minford of Berkadia Seniors Housing & Healthcare completed the transaction on behalf of the seller, an Alabama-based nonprofit. The buyer was New Jersey-based Twin Light Capital. “The seller owned the asset for many years and decided it was time to refocus their efforts on operations within the state of Alabama,” says Minford. Built in 1993, Homestead Village Retirement Community offers independent living, assisted living and memory care. …
CHICAGO — Evans Senior Investments (ESI), a Chicago-based broker, has arranged three separate sales transactions totaling $150 million. The dispositions allow the seller, a Pennsylvania-based owner-operator, to fully exit the seniors housing industry. The first tranche of the portfolio consisted of four communities totaling 661 licensed skilled nursing beds and 88 independent living cottage units. At the time of marketing the average census was 74 percent with total portfolio revenue of $48 million and net operating income of $2.3 million. The buyer was a regional owner-operator looking to grow its …
BONITA SPRINGS, Fla. — Discovery Senior Living and Ventas have announced the rebranding of 19 former Elmcroft Senior Living communities. Management functions for the communities, which are located in multiple states, were transferred from prior operator Eclipse to Discovery, while Ventas will retain ownership of each. The move results in the TerraBella regional brand name’s transformation into a second, formal, regionally focused, wholly owned subsidiary management company for Discovery, and also gives rise to two newly created regional brands, SummerHouse and Seaton. Of the 19 communities, 13 were rebranded under …
WILLIAMSBURG, Va. — Berkadia has arranged the sale of Edgeworth Park at New Town, an 83-unit, 95-bed senior living community in Williamsburg, for an undisclosed price. Tim Cobb and Brooks Minford of Berkadia Seniors Housing & Healthcare completed the transaction on behalf of the seller, Virginia-based Robertson Liebler. The buyer was Connecticut-based Wheelock Street Capital. Solera Senior Living will serve as the new operator. Built in 2017, Edgeworth Park at New Town is a Class A assisted living and memory care community.
TOLDEO, Ohio — Welltower Inc. (NYSE: WELL), a Toldeo-based REIT and the largest owner of seniors housing in the United States, has extended its 2021 spending spree by agreeing to acquire four seniors housing portfolios for a combined total of $1.3 billion. Welltower has invested $5.6 billion in acquisitions and developments since October 2020. Highlights include the acquisition of 86 Holiday Retirement communities for $1.6 billion and the acquisition of 22 properties in Ohio and Illinois totaling over 1,000 units. “Since pivoting to offense 13 months ago, Welltower is pleased …
MEMPHIS, Tenn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Tranquility at Hickory Hill, a 150-unit active adult community in Memphis. The property offers the opportunity to rebuild 10 units that were previously damaged by fire. The community was originally built in 1985, totaling 161,990 square feet on a 13-acre plot. A regional owner sold the asset to a Southern California-based multifamily group looking to increase its footprint in active adult. The price was not disclosed. Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the …
HENDERSONVILLE, Tenn. — Evans Senior Investments (ESI) has arranged the sale of Main Street Senior Living, a 58-unit assisted living and memory care community in the Nashville suburb of Hendersonville. A private equity company sold the asset a Southeast-based regional owner-operator for $4.9 million. The community is licensed for 99 beds and the resident base is 100 percent private pay. At the time of marketing, the community was averaging 62 percent occupancy on total revenue of $1.5 million. Due to the low census the community was not profitable and was …
GREENSBORO, N.C. — Blackford Capital has acquired ID Collaborative Inc. (IDC), an interior design firm that specializes in continuing care retirement communities. Terms of the deal were not disclosed. The deal is Blackford’s third in the commercial interior design industry in 2021, following the acquisition of Georgia-based Design Environments and the merger of Vertically Integrated Projects and Boston Trade Interior Solutions. “We are aggressively executing against our strategic plan to address the highly fragmented interior design and procurement industries to better serve our customers and the industry as a whole,” …
WILLIAMSBURG, Va. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arrangd the sale of White Oaks at Williamsburg, a 48‐unit memory care facility in Williamsburg. Built in 2015 and opened in early 2017, White Oaks at Williamsburg is a campus with three buildings, 16 units each. The seller is a private investor with seniors housing communities located in the Midwest. This community was determined to be outside of its normal operating region and thus was sold. The buyer is English Meadows Senior Living, a Mid‐ Atlantic …