Acquisitions

AcquisitionsAssisted LivingNewsOregon

SLIB Arranges $15.5M Sale of Community in Hillsboro, Oregon

by Jeff Shaw

HILLSBORO, Ore. — Senior Living Investment Brokerage has negotiated the sale of HOLI Senior Living, a 72-unit assisted living and memory care community in Hillsboro, a suburb of Portland. The community was built in 2019, totaling 39,460 square feet on 2.1 acres. The seller was a local developer and operator, with this being its only seniors housing asset. A private equity firm from Texas bought the property for $15.5 million and installed a Pacific Northwest-based operator. Jason Punzel, Brad Goodsell and Vince Viverito of Senior Living Investment Brokerage handled the …

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AcquisitionsCompany NewsNews

BREAKING: Highgate Capital, Aurora Health to Buy 300-Property Healthcare Portfolio in Deal Valued at $3.2B

by Jeff Shaw

BOCA RATON, Fla. — DigitalBridge (NYSE: DBRG) has agreed to sell its entire wellness portfolio, consisting of 300 seniors housing, skilled nursing, medical office and hospital properties, in a deal valued at $3.2 billion. The buyers are Highgate Capital Investments and Aurora Health Network. Before announcing its rebrand to DigitalBridge in June, the Boca Raton-based real estate investment trust (REIT) was formerly known as Colony Capital. The sale is the final step of the company’s conversion of its portfolio to all digital infrastructure properties, such as cell towers and data …

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AcquisitionsAssisted LivingFloridaNews

SLIB Negotiates Sale of 82-Unit Legacy at Highwoods Preserve in Tampa

by Jeff Shaw

TAMPA, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Legacy at Highwoods Preserve, and 82-unit assisted living and memory care community in Tampa. The community was developed by the seller in 2015 and operated by its affiliate operating company. This asset was an operational outlier for the company, representing its last asset in the Southeast The buyer was Alta Senior Living, which is strategically growing its operating presence in Florida. The price was not disclosed. Bradley Clousing and Daniel Geraghty handled the transaction for SLIB.

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AcquisitionsNew JerseyNewsSkilled Nursing

ESI Brokers $24M Sale of Skilled Nursing Community in New Jersey

by Jeff Shaw

NEW JERSEY — Evans Senior Investments (ESI) has arranged the sale of a 120-bed skilled nursing community in New Jersey for $24 million. Built in the last 20 years with multiple renovations since, the community exhibited a modern physical plant with all of the rooms at the community being private or semi-private. Despite the contemporary design, the community was not profitable at the time of marketing the offering, with census averaging 77 percent, resulting in a net operating loss. Contributing to the below-average profitability was the high expense structure in …

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AcquisitionsAffordable HousingNew JerseyNews

Standard Communities Acquires Affordable Property in Atlantic City for $35.9M

by Jeff Shaw

ATLANTIC CITY, N.J. — Standard Communities, through a public-private partnership, has acquired New York Avenue Apartments, a 151-unit affordable seniors housing community in Atlantic City, for $35.9 million. Built in 1980, New York Avenue’s units are supported by a project-based Section 8 Housing Assistance Payment (HAP) contract. Standard Communities completed this transaction in partnership with the U.S. Department of Housing and Urban Development (HUD) and the New Jersey Housing and Mortgage Finance Agency (NJHMFA). The transaction was financed with Low Income Housing Tax Credits (LIHTC) arranged in partnership with PNC …

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AcquisitionsKentuckyNewsSkilled NursingTennessee

Strawberry Fields REIT Acquires Six Nursing Facilities in Kentucky, Tennessee for $81M

by Jeff Shaw

SOUTH BEND, Ind.— Strawberry Fields, an owner and lessor of long-term acute care hospitals, skilled nursing and assisted living facilities in the Midwest and South, has acquired six skilled nursing facilities in Kentucky and Tennessee. The purchase price was $81 million and Strawberry Fields used the proceeds of a recently completed bond offering on the Tel Aviv Stock Exchange to finance the acquisition. The Kentucky facility will join the Landmark portfolio, which has operations throughout Kentucky, and in Texas, Oklahoma, Illinois, and Michigan. Each of The Waters-branded operators at the …

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AcquisitionsAssisted LivingNew YorkNews

SLIB Negotiates $8M Sale of Manor Hills Assisted Living in Wellsville, New York

by Jeff Shaw

WELLSVILLE, N.Y. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Manor Hills Assisted Living for $8 million. Located in Wellsville, near the Pennsylvania border south of Rochester, the asset features 89 units of assisted living and memory care. It was built in 1989. The seller is a private owner that previously divested its skilled nursing portfolio. The buyer is an Albany-based private owner-operator. Dave Balow from SLIB handled the transaction.

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AcquisitionsAssisted LivingNewsTennessee

SLIB Brokers Sale of Two Communities in Tennessee

by Jeff Shaw

TENNESSEE — Senior Living Investment Brokerage has arranged the sale of two identical assisted living and memory care communities totaling 174 units in Tennessee. The buildings were constructed in 2000 and have vacant land available for future expansion. The locations and acquisition price were not disclosed. The seller is an independent owner-operator and the buyer is a partnership between a REIT and an operator targeting growth throughout Tennessee. Patrick Burke and Dave Balow of SLIB handled the transaction.

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AcquisitionsFloridaNews

Innovation Senior Living Buys Wellington Elder Care in Florida for $10M

by Jeff Shaw

WELLINGTON, Fla. — Innovation Senior Living has acquired Wellington Elder Care in the South Florida city of Wellington for $10 million. This the third property under Innovation’s ownership and management. The new acquisition is part of the company’s five-year plan to add 12 to 15 properties to its portfolio. The 10,845-square-foot, 26-unit community will be renamed The Club at Wellington. “Wellington Elder Care, now The Club at Wellington, is an excellent community that is stable, well-run, and centrally located in the state of Florida,” says Pilar Carvajal, CEO and founder …

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