ORLEANS, Mass. — Blueprint Healthcare Real Estate Advisors has arranged the sale of The Terraces Orleans, a 50-bed skilled nursing facility and 19-unit independent living community in Orleans, a town on Cape Cod. The property was built in 1968 and thoroughly renovated in 2000. The buyer was a Massachusetts-based operator looking to grow its regional presence with its first real estate acquisition. The seller and price were not disclosed.
FRESNO, Calif. — JCH has arranged the sale of a skilled nursing facility in Fresno. An owner-operator sold the asset to a regional owner-operator for $6.4 million. The former tenant opted out of the property, and JCH also assisted in finding a new tenant. Cindy Hazzard and Jennifer Contreras of JCH handled the transaction process.
NEW YORK CITY and SOUTHFIELD, Mich. — CBRE National Senior Housing has arranged recapitalization and acquisition financing for seven seniors housing communities across three transactions on behalf of a joint venture between New York-based Monarch Alternative Capital LP and Southfield-based REDICO. Aron Will, John Sweeny, Austin Sacco and Adam Mincberg arranged the financing. American House Senior Living Communities, an affiliated company of REDICO, will manage the communities The seven communities total 1,133 independent living, assisted living and memory care units in Florida, Illinois and Michigan. The Florida Portfolio comprises American …
PROSSER, Wash. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of Amber Hills, a 40-unit seniors housing community in Prosser, 190 miles northeast of Portland, Oregon. Originally constructed in 1999, Amber Hills offers assisted living units. Blueprint positioned the asset as a value-add opportunity focusing the buyer’s ability to increase census by adding regional oversight and increasing the assisted living unit count through a new renovation on the vacant land parallel to the community. The buyer was a growing regional owner-operator. The seller was a local group. The …
EVERETT, Wash. — Ziegler has arranged sale of South Pointe Assisted Living, a 42-unit independent living and assisted living community in Everett, a northern suburb of Seattle. The seller was Radiant Senior Living, which acquired the community in 2020 as part of a larger portfolio transaction including one other community in the greater Seattle area and another community in Bozeman, Montana. Prior to acquiring the community from the previous lessor, Radiant leased and operated the community for 10 years. The buyer and price were not disclosed.
PLANO, Texas, and NORTH BETHESDA, Md. — NewPoint Real Estate Capital LLC, a Plano-based finance company, has acquired North Bethesda-based Housing & Healthcare Finance (HHC Finance), including its FHA multifamily and healthcare origination business and its loan servicing portfolio. With a specialized focus on healthcare and seniors housing lending, HHC Finance will augment NewPoint’s existing suite of agency lending solutions. HHC Finance founders Erik Lindenauer and Rich Lerner will join NewPoint as co-presidents of the FHA housing business unit and lead the integration of HHC Finance’s team of approximately 50 …
NEW MEXICO — Evans Senior Investments (ESI) has arranged the sale of a 100-bed skilled nursing community in New Mexico. Built in the late 1990s, the facility is located over 50 miles from the nearest competing nursing facility. The facility experienced a COVID-19 outbreak shortly before going to market, which resulted in the loss of over 25 residents and brought occupancy down to an all-time low of 46 percent. At the time of sale, the facility was 65 percent occupied. ESI represented the seller, a regional owner-operator based out of …
VICTORIA, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of Retama Manor Nursing Home, a skilled nursing facility in Victoria, located between Houston and San Antonio. An independent owner sold the community for $4.4 million, as the lease with the operator was set to expire at the end of the year. The buyer is an owner-operator that will take over operations. The facility consists of 142 beds and was built in 1969 totaling approximately 29,510 square feet on three acres of land. Matthew Alley of SLIB handled …
WESTLAKE VILLAGE, Calif. — LTC Properties Inc. (NYSE: LTC) has provided a $52.5 million unitranche loan for the purchase of a 13‑property seniors housing portfolio located in North and South Carolina. An existing operator partner will manage the communities. The loan provides for additional commitments of $6.1 million for capital improvements and $650,000 for working capital, for a total investment commitment of approximately $60 million.
SAVANNAH, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of John-Wesley Villas of Savannah, a 59-unit independent living and assisted living community in Savannah. Located on 4.1 acres, the property also features an adjacent 1.1-acre lot for expansion. The seller sought to divest of this asset to focus on development of its larger, campus-style communities. The buyer has existing operations in Savannah. The price was not disclosed. Bradley Clousing and Daniel Geraghty of SLIB handled the transaction.
