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Acquisitions

AcquisitionsNewsPennsylvaniaSkilled Nursing

Tryko Partners Acquires Regina Community Nursing Center in Norristown, Pennsylvania

by Jeff Shaw

NORRISTOWN, Pa. — Private equity investment firm Tryko Partners has acquired Regina Community Nursing Center, a 121-bed skilled nursing facility in Norristown, for an undisclosed price. Tryko has rebranded the property as Markley Rehabilitation & Healthcare Center and plans to implement a $3.5 million investment in physical plant renovations and specialty programming enhancements. “This facility has significant upside potential,” says Tryko’s Uri Kahanow, director of acquisitions. “It has good bones and is located in a prime market, one in which we have nearly a decade of experience and facilities that …

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AcquisitionsFinanceMassachusettsNews

Newmark Arranges Acquisition Financing for The Residence at Watertown Square in Massachusetts

by Jeff Shaw

WATERTOWN, Mass. — Newmark has arranged an undisclosed amount of financing for the acquisition of The Residence at Watertown Square, a 90-apartment senior living community located in the high-end Boston suburb of Watertown. Developed in 2014, the community features 19 independent living units, 46 assisted living units and 25 memory care units. Newmark’s Sarah Anderson, Ryan Maconachy, Chad Lavender, Ross Sanders and David Fasano represented the buyer, a joint venture partnership between Harrison Street Real Estate Capital and LCB Senior Living (LCB), in the placement of financing for the property. …

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AcquisitionsNew MexicoNewsNorth CarolinaTexas

Discovery Acquires 16 Properties, Launches New Morada Brand for Portfolio

by Jeff Shaw

BONITA SPRINGS, Fla. — Discovery Senior Living has acquired a portfolio of 16 seniors housing properties in Texas, North Carolina and New Mexico, the largest single acquisition in the Bonita Springs-based owner-operator’s history. Discovery’s partner on the acquisition was White Oak Healthcare REIT. The seller and names of the communities were not disclosed. As part of the purchase, Discovery launched a new brand — Morada Senior Living. Based in Dallas and wholly owned by Discovery, Morada will oversee the new portfolio with a dedicated management team led by a division …

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AcquisitionsIndependent LivingNewsOregon

SLIB Arranges $3.5M Sale of Barnett Woods in Medford, Oregon

by Jeff Shaw

MEDFORD, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Barnett Woods, a 70-unit independent living community in Medford, near the California border. The community was built in 1975 with a renovation in 1980. The 60,796-square-foot building sits on nearly three acres. The seller was a regional owner-operator looking to focus on higher-acuity communities. A local owner-operator acquired the property for $3.5 million and plans to remodel and reposition the asset. Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the transaction.

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AcquisitionsIllinoisNewsOperations

Health Dimensions Group to Manage Former Brookdale Community in Burr Ridge, Illinois

by Jeff Shaw

BURR RIDGE, Ill. — Health Dimensions Group (HDG) has taken over management of Brookdale Burr Ridge, with plans to reposition the community and rebrand it as Dimensions Living Burr Ridge. Burr Ridge is located near the Des Plaines river approximately 18 miles southwest of downtown Chicago. The community features assisted living, memory care, rehabilitation and skilled nursing services. The number of units was not disclosed. HDG provides management and oversight for 38 senior care and living communities in eight states, serving more than 2,000 residents and overseeing more than 2,000 …

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AcquisitionsCompany NewsFloridaNews

Strive Senior Living Acquires Classic Home Health Services

by Jeff Shaw

ORLANDO — V 3 Capital Group, through its affiliate Strive Senior Living LLC, has completed the corporate acquisition of Classic Home Health Services Inc. for an undisclosed price. The acquired company is an in-home healthcare provider that offers medical treatment or assistive care for patients who do not require hospitalization or facility care but do need additional support to live safely in their homes. Strive purchased all assets of the company and will continue operations under the Classic Home Health Services brand. Classic is an established company with 25 years …

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AcquisitionsFrom The MagazineInvestment

Pandemic Shakes Up Acquisitions Landscape

by Jeff Shaw

REITs sell off portfolios while other investors pursue distressed assets amid record-low occupancy. By Jeff Shaw When the COVID-19 outbreak hit the U.S. with full force last March, investors in the seniors housing sector had some difficult decisions to make.  With the occupancy rate at private-pay seniors housing falling to a record-low 80.7 percent in the fourth quarter of 2020, according to the National Investment Center for Seniors Housing & Care, the question that quickly arose in the marketplace was whether it was better to sell off properties, buy assets …

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AcquisitionsAssisted LivingNewsOregon

SLIB Brokers $15.7M Sale of The Grove and The Gardens in Forest Grove, Oregon

by Jeff Shaw

FOREST GROVE, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Grove and The Gardens, a 92-unit assisted living and memory care community in Forest Grove, approximately 25 miles west of Portland. A family retiring from the industry sold the property to a regional owner-operator for $15.7 million. The community was built in 1996, with memory care added in 2000. The facility is approximately 63,000 square feet and is situated on approximately 2.7 acres of land plus an additional one-acre lot. The buyer plans to remodel …

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AcquisitionsMemory CareNewsTexas

Heavenrich & Co. Arranges Sale of Pathways Memory Care in Houston

by Jeff Shaw

HOUSTON — Heavenrich & Co. has arranged the sale of Pathways Memory Care, a 60-unit skilled nursing memory care facility located in Northwest Houston. Pathways was built in 2014 on an 80-acre medical campus that includes the Kelsey Seybold Clinic and Villa Toscana, an 86-unit skilled nursing facility that Heavenrich sold in 2020. StoneGate Senior Living, a national owner-operator sold the property to an undisclosed buyer for an undisclosed price. In preparing for the sale, StoneGate converted the property to private pay, established a new operator and worked with a …

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AcquisitionsCaliforniaCCRCNews

Bayshire Senior Communities Acquires Two Brookdale Properties in Southern California

by Jeff Shaw

CARLSBAD and RANCHO MIRAGE, Calif. — Bayshire Senior Communities, a boutique senior living owner and operator, has acquired Brookdale Carlsbad and Brookdale Rancho Mirage, renaming the two communities as Bayshire Carlsbad and Bayshire Rancho Mirage. Both properties are continuing care retirement communities, each featuring 90 independent and assisted living units, 24 memory care units and 45 skilled nursing units. Carlsbad is located north of San Diego, and Rancho Mirage is part of the Inland Empire Bayshire is an owner-operator headquartered in Escondido, a suburb of San Diego.

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