BRADENTON, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Cottages of Bradenton, a 64-unit assisted living and memory care community in Bradenton. The seller was a local partnership looking to exit the industry. The buyer was a private partnership in the Northeast looking to expand its Florida portfolio. The price was not disclosed. Bradley Clousing of SLIB negotiated the transaction.
PHOENIX — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 94-unit skilled nursing facility in Phoenix. The 94-unit vacant facility was originally developed by Mainstreet in 2017 and designed to be operated as an assisted living and transitional care facility. However, the property was foreclosed on and as a result was never operational. The property is strategically located just 0.2 miles from Banner Estrella Medical Center as well as two other major hospitals within an eight-mile radius. The buyer, seller and price were not disclosed.
MAUPIN, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Canyon Rim, a 27-unit assisted living community in Maupin, approximately 100 miles southeast of Portland. The community was built in 2005. It totals approximately 18,652 square feet on approximately 3.6 acres of land. The seller was a regional owner-operator that is now focusing on larger communities in major West Coast metropolitan areas. The buyer is a regional owner-operator out of Idaho that focuses on smaller communities. The price was not disclosed. Jason Punzel, Brad Goodsell and Vince …
SOUTHBURY, Conn. — Monarch Communities has acquired The Hearth at Southbury in the western New Haven County municipality of Southbury. The community offers 96 independent living/assisted living apartments and 34 memory care apartments in the heart of downtown Southbury. Once the acquisition is finalized, Monarch plans to make capital improvements to upgrade and refresh resident apartments, as well as common areas throughout the community. The community will also be renamed Motif by Monarch.
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 …
