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Acquisitions

AcquisitionsAlabamaNewsSkilled Nursing

SLIB Brokers Sale of 170-Bed Azalea Gardens in Mobile, Alabama

by Jeff Shaw

MOBILE, Ala. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Azalea Gardens, a 170-bed skilled nursing facility in Mobile. The asset was built in 1968 and renovated in 1982. Occupancy was 60 percent at the time of sale. The facility is part of a land lease with a local hospital. The seller was looking to divest from a non-core market. A local owner-operator familiar with the market acquired the property for $11 million, or $64,700 per bed. Bradley Clousing and Matt Alley handled the transaction for SLIB.

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AcquisitionsAssisted LivingNewsOregon

SLIB Arranges $8M Sale of Harmony Guest Home in Hillsboro, Oregon

by Jeff Shaw

HILLSBORO, Ore. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Harmony Guest Home, a 42-unit assisted living and memory care community in Hillsboro, a suburb of Portland. The 22,597-square-foot community was built in 2002 with additions in 2006 and 2012. A one-property owner-operator looking to retire sold the asset for $8 million. The buyer was a national private equity that will partner with a third-party operator. The buyer plans to convert beds from assisted living to memory care and will also conduct a community-wide refresh. Jason Punzel, …

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AcquisitionsAssisted LivingCaliforniaNews

Merrill Commercial Real Estate Arranges $18M Portfolio Sale in Redding, California

by Jeff Shaw

REDDING, Calif. — Merrill Commercial Real Estate has arranged the sale of a two-property portfolio made up of 151 units of assisted living and memory care in Redding. The properties went under contract pre-pandemic. Since that time, the occupancy dropped nearly 20 percent as a COVID outbreak in one of the locations took a toll. Despite this, the buyers stuck with the deal. A private equity group looking to expand in California acquired the properties from an independent owner-operator for $18 million. Tyler Merrill arranged the transaction.

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AcquisitionsNewsSkilled NursingTexas

Ensign Group Acquires 108-Bed Windsor Rehabilitation in Terrell, Texas

by Jeff Shaw

TERRELL, Texas — The Ensign Group Inc. has acquired both the real estate and operations of Windsor Rehabilitation and Healthcare, a 108-bed skilled nursing facility in Terrell, approximately 35 miles east of downtown Dallas. “We are very excited to add another operation in North Texas and believe that this newer building is poised to do great things,” says Barry Port, Ensign’s Chief Executive Officer. “We will continue to look for opportunities in Texas and are confident that our local clusters are well prepared for this addition and for additional growth.” …

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AcquisitionsMaineNews

Blueprint Brokers Sale of 57-Unit Community in Maine

by Jeff Shaw

PORTLAND, Maine — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 57-unit assisted living community and 41-unit memory care community in the Portland metro area. The properties were developed in 1996 and 1997, respectively. A REIT sold the assets to a Massachusetts-based owner-operator. The price was not disclosed.

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AcquisitionsNewsOhio

Blueprint Brokers Sale of Skilled Nursing Community in Akron, Ohio

by Jeff Shaw

AKRON, Ohio — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a skilled nursing and assisted living community in Akron. The property was built in 1917 and renovated in the mid-2000s. It is located near the University of Akron campus. A regional owner-operator sold the community to an undisclosed buyer for an undisclosed price.

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AcquisitionsFinanceNewsSkilled Nursing

Lument Arranges $168M Bridge-to-HUD Financing for Mitchell Family Office Skilled Nursing Portfolio

by Jeff Shaw

BIRMINGHAM, Mich. — Lument has arranged a $168 million bridge loan for a skilled nursing portfolio on behalf of Mitchell Family Office (MFO), a Birmingham-based investment firm focused on the healthcare industry. Proceeds of the loan funded the acquisition of the skilled nursing division of American Health Partners and was part of a larger acquisition plan in which MFO acquired all the interests of American Health Partners for an undisclosed price. Leading the transaction for Lument were Conner Girdley, director for seniors housing and healthcare, and Brandon Gill, vice president …

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AcquisitionsArizonaAssisted LivingNews

Chicago Pacific Founders Acquires The Ranch Estates of Tucson in Arizona

by Jeff Shaw

TUCSON, Ariz. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired The Ranch Estates of Tucson, a 107-unit senior living community in Tucson. The property was previously known as Sage Desert Assisted Living and Memory Care. Grace Management will take over operations. The Ranch Estates of Tucson is located in North Tucson’s Casas Adobes community, near Oro Valley. Blueprint Healthcare Real Estate Advisors arranged a non-recourse acquisition loan through Truist on behalf of CPF. The seller and price were not disclosed. The …

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AcquisitionsMinnesotaNews

SLIB Negotiates $7.2M Sale of Community in Wayzata, Minnesota

by Jeff Shaw

WAYZATA, Minn. — Senior Living Investment Brokerage has arranged the sale of a 67-unit independent living and assisted living property in Wayzata, approximately 13 miles west of Minneapolis. The 78,000-square-foot property is located on a four-acre plot and was vacant at the time of sale. A nonprofit entity sold the property to a local owner-operator for $7.2 million. The buyer plans to implement a renovation plan before reopening the community Jason Punzel, Brad Goodsell and Vince Viverito of Senior Living Investment Brokerage handled the transaction.

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AcquisitionsCaliforniaNews

Avanath Capital Acquires Overlook at Anaheim Hills in California for $87.5M

by Jeff Shaw

ANAHEIM HILLS, Calif. — Avanath Capital Management has purchased Overlook at Anaheim Hills, a seniors housing property in Anaheim Hills. An undisclosed seller sold the property for $87.5 million. Built in 2001, Overlook consists of seven two- and three-story garden-style buildings offering a total of 261 units with an average unit size of 751 square feet. Community amenities include a community center, clubhouse, business center, pool, spa, fitness center and billiard room. At the time of sale, the property was nearly 100 percent occupied. Avanath plans to implement a variety …

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