Acquisitions

AcquisitionsAssisted LivingGeorgiaNews

SLIB Brokers Sale of 94-Unit Brickmont Assisted Living in Milton, Georgia

by Jeff Shaw

MILTON, Ga. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Brickmont Assisted Living, a 94-unit seniors housing community in Milton, approximately 30 miles north of Atlanta. The seller was a local developer that elected to exit this asset as it was the company’s first building and had reached the end of its investment horizon. The buyer was a Tennessee-based partnership looking to expand its southeast footprint in strategic markets. The price was not disclosed The community was built in 2016. Bradley Clousing and Daniel Geraghty handled the …

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AcquisitionsNewsOhio

ESI Arranges $6M Sale of Skilled Nursing Community in Dayton, Ohio

by Jeff Shaw

DAYTON, Ohio — Evans Senior Investments (ESI) has arranged the sale of Lincoln Park Manor, a 60-bed skilled nursing and 30-unit assisted living community in Dayton The property was built in 1988 with a $1.3 million renovation from 2019 to 2020. The community was not profitable at the time of marketing the offering, with skilled nursing census averaging 37 percent and assisted living census averaging 45 percent, resulting in a loss of over $1.5 million in net operating income. Contributing to the below average profitability was that the skilled nursing …

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AcquisitionsCompany NewsIndependent LivingNews

Holiday Retirement Sells Operations Business to Atria, 86 Communities to Welltower for $1.6B in Megadeal

by Jeff Shaw

LOUISVILLE, Ky., WINTER PARK, Fla., and TOLDEO, Ohio — In a blockbuster deal for seniors housing, the seventh-largest operator of seniors housing in the United States (Atria Senior Living) will acquire the third-largest (Holiday Retirement), with the largest owner in the country (Welltower) buying up a large portfolio of the affected assets. Atria, a privately held seniors housing operator based in Louisville, has agreed to buy the operations business of Winter Park-based Holiday Retirement. Meanwhile, Toledo-based REIT Welltower (NYSE: WELL) will buy the 86 properties that Holiday owns and self-manages …

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AcquisitionsActive AdultNewsTexas

Livingston Street Capital Acquires 180-Unit Active Adult Property in Lewisville, Texas

by Jeff Shaw

LEWISVILLE, Texas — An affiliate of Livingston Street Capital, a boutique private equity firm focused on commercial real estate investments throughout the U.S., has acquired a 180-unit active adult apartment community in the Dallas-Fort Worth submarket of Lewisville. The seller was not disclosed. The property, which the firm has rebranded as Haven at Lewisville Lake, is the first Texas addition to Livingston’s geographically diverse active adult and independent living portfolio. The acquisition brings the firm’s total unit count in the sector to nearly 1,000 units. “The acquisition of Haven at Lewisville …

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AcquisitionsIllinoisNewsSkilled Nursing

Ziegler Structures $49M in Financing for Symphony Care Network Portfolio Acquisition in Chicago

by Jeff Shaw

CHICAGO — Ziegler has served as capital structuring advisor in a $49 million debt placement on behalf of Symphony Care Network. The financing will fund the acquisition of a portfolio of two skilled nursing facilities and one supportive living facility located in the Lincoln Park and South Shore neighborhoods of Chicago. Prior to the Transaction, Symphony already operated the communities, consisting of 475 licensed skilled nursing beds and 118 supportive living beds. The financing allowed Symphony to reacquire the portfolio’s real estate interest from a publicly traded REIT. The transaction …

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AcquisitionsCCRCIowaNews

Lument Securities Advises Multi-Generational Family Business on Exit from Seniors Housing Industry

by Jeff Shaw

WOODBINE, Iowa — Lument Securities has advised Sherer Management, a multi-generational seniors housing and care owner and operator based in Woodbine, on the sale of two businesses as well as the company’s exit from the seniors housing industry. Sherer Management is a family-owned business that operated continuing care retirement communities in western Iowa, Rose Vista in Woodbine and Longview Home in Missouri Valley, which offer skilled nursing, assisted living and independent living services, in addition to hospice services through Generations Hospice. The company operated the communities for over 60 years. …

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AcquisitionsActive AdultNewsWisconsin

SLIB Arranges $10.6M Sale of Olympic Village Active Adult Community in Sun Prairie, Wisconsin

by Jeff Shaw

SUN PRAIRIE, Wis. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Olympic Village, a 69-unit active adult community in the Madison suburb of Sun Prairie. SLIB represented the court-appointed receiver in the transaction. The residents of the community formed a new nonprofit organization to acquire the asset for $10.6 million. The campus sits on approximately 12.4 acres with units randing in size from 1,300 to 1,900 square feet. Occupancy was 99 percent at the time of sale. In addition to negotiating the transaction, SLIB also helped source …

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AcquisitionsNewsSkilled NursingTexas

SLIB Brokers Sale of 148-Bed Skilled Nursing Community in Houston

by Jeff Shaw

HOUSTON — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 148-bed skilled nursing facility in Houston. The community was built in 1955 and renovated in 2009. The property is located in the Jacinto City neighborhood of Houston. The facility is approximately 36,000 square feet and is situated on approximately 1.3 acres of land. The seller is a regional owner-operator looking to consolidate its portfolio. The buyer is a regional owner-operator based in Utah that is expanding its portfolio into Texas. The price was not disclosed. Matthew Alley …

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AcquisitionsNewsSkilled NursingTexas

SLIB Negotiates Sale of 493-Bed Skilled Nursing Portfolio in Texas

by Jeff Shaw

GALVESTON and PORT ARTHUR, Texas —Senior Living Investment Brokerage (SLIB) has arranged the sale of two skilled nursing facilities in Port Arthur and one in Galveston totaling 493 beds. The seller was a regional owner-operator looking to consolidate its portfolio. The buyer is a regional owner-operator based in Utah that is expanding its portfolio into Texas. The price was not disclosed. The buyer is planning to invest in improving the property appearance and focusing on leveraging operational experience for stabilizing the portfolio. Matthew Alley and Vince Viverito of SLIB handled …

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AcquisitionsAssisted LivingNevadaNews

SLIB Brokers $20.2M Sale of 98-Unit Community in Las Vegas

by Jeff Shaw

LAS VEGAS — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 98-unit assisted living and memory care community in Las Vegas. The 76,458-square-foot community sits on 3.2 acres. A local developer sold the community to a private equity fund for $20.2 million. The new owner plans to replace the operator. Vince Viverito, Brad Goodsell and Jason Punzel of SLIB handled the transaction.

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