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Acquisitions

AcquisitionsActive AdultMinnesotaNews

JLL Arranges $18.8M Sale of The Estates at Arbor Oaks in Andover, Minnesota

by Jeff Shaw

ANDOVER, Minn. — JLL Capital Markets has arranged the sale of The Estates at Arbor Oaks, an active adult community in Andover, a northern suburb of Minneapolis. Estates of Arbor Oaks LLC sold the property to PC Arbor Oaks for $18.8 million. The Estates at Arbor Oaks sits on 12.5 acres and features 66 one-, two- and three-bedroom units. It was 95.5 percent occupied at the time of sale. The JLL Capital Markets team representing the seller was led by Dan Linnell, Mox Gunderson, Josh Talberg and Adam Haydon. The …

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AcquisitionsNew YorkNewsSkilled Nursing

Blueprint Negotiates Sale of 80-Bed Rosewood Rehab in Rensselaer, New York

by Jeff Shaw

RENSSELAER, N.Y. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Rosewood Rehabilitation & Nursing Center in Rensselaer, just across the Hudson River from Albany. Totaling 80 beds, the skilled nursing facility was originally developed in the mid-1970s. Prior to the marketing and sale process, the private ownership group completed capital investments including interior renovations, operational equipment upgrades and technological enhancements. The property was consistently above 90 percent occupancy at the time of sale. The buyer and seller were not disclosed.

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AcquisitionsArizonaAssisted LivingNews

Marcus & Millichap Arranges $5.6M Sale of Carlton Village in Northwest Tucson

by Jeff Shaw

TUCSON, Ariz. — Marcus & Millichap has arranged the sale of Carlton Village Senior Care Community, an 80-bed assisted living community in Northwest Tucson. The community was built in 2018. The price of $5.6 million equates to $70,000 per bed. Alex Snyder and Hamid Panahi, seniors housing investment specialists in Marcus & Millichap’s Tucson office, represented the seller, a seniors housing developer. The buyer was a Tucson-based owner-operator. The community combines the scale of a large assisted living operation with the communal setting of high-acuity care homes, creating a quasi-campus …

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AcquisitionsLouisianaNewsSkilled Nursing

Blueprint Brokers Sale of Carroll Nursing Home in Northeast Louisiana

by Jeff Shaw

OAK GROVE, La. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Carroll Nursing Home, located in Oak Grove, in the Northeast corner of Louisiana near the Arkansas border. The skilled nursing facility features 120 beds. It was originally built in 1960, with expansion and renovation projects in 1962, 1976 and 1987. A local family seeking to exit the industry sold the property to a Southeast-based regional owner-operator. The price was not disclosed.

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AcquisitionsAssisted LivingFloridaNews

Colliers Negotiates $13.7M Sale of Seniors Housing Portfolio in Central Florida

by Jeff Shaw

PORT RICHEY, ZEPHYRHILLS AND CASSELBERRY, FLA. — Colliers International has negotiated the $13.7 million sale of a three-property assisted living facility portfolio in Port Richey, Zephyrhills and Casselberry. Florida Seniors Properties Inc. sold the portfolio, which was 66 percent occupied at the time of sale. The prices were not disclosed. Best Care Senior Living LLC acquired The Cottages in Port Richey, which is located about 37 miles northwest of downtown Tampa. A joint venture between 201 Sunset Drive LLC and 6701 Dairy Road LLC acquired Westbrook Manor in Zephyrhills and …

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AcquisitionsAssisted LivingMassachusettsNews

Blueprint Brokers Sale of Two Assisted Living Communities in Massachusetts

by Jeff Shaw

MASSACHUSETTS — Blueprint Healthcare Real Estate Advisors has arranged the sale of two assisted living communities totaling 195 units in Massachusetts. The properties were over 96 percent occupied at the time of sale. The buyer was a partnership between a New York-based operator and an experienced investor with a home health business in the state. Further details on the seller, price and properties were not disclosed.

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AcquisitionsAssisted LivingCaliforniaNews

SLIB Arranges $7.8M Sale of FountainWood Lodge Community in Orangevale, California

by Jeff Shaw

ORANGEVALE, Calif. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of FountainWood Lodge, a 90-unit assisted living and memory care community in Orangevale, a suburb of Sacramento. The community was built in 1981 and has undergone several renovations. The 63,930-square-foot building is located on six acres of land. The seller is a nonprofit owner-operator. A regional owner-operator acquired the property for $7.8 million. Brad Goodsell, Jason Punzel and Vince Viverito of SLIB handled the transaction. “FountainWood Lodge has a great reputation in the local market, and the buyer …

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AcquisitionsCCRCConnecticutNewsOperations

Benchmark Assumes Management of Meadow Ridge CCRC in Redding, Connecticut

by Jeff Shaw

REDDING, Conn. — Benchmark Senior Living has become part owner and the operator of Meadow Ridge, a continuing care retirement community (CCRC) in Redding, approximately 55 miles northeast of Manhattan. Affiliates of Senior Care Development, the community’s original developers, will retain majority ownership. Set on 136 acres, Meadow Ridge is Connecticut’s largest retirement community offering independent living, assisted living, skilled nursing and rehabilitation on one campus. It opened in 2001 and features 415 apartment homes and employs more than 300 associates. Benchmark owns and operates 63 independent living, assisted living, …

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AcquisitionsNewsOhio

Grandbridge Negotiates $18M Sale of 200-Unit Community in Ohio

by Jeff Shaw

OHIO — Grandbridge Real Estate Capital’s Tampa-based Senior Housing Investment Sales team has arranged the $18 million sale of a senior living community in Ohio. The property features 200 units on a 20-acre plot. Further details on the community were not disclosed. The sales team led by Allen McMurtry, Dave Kliewer and Jay Jordan represented the seller to an all-cash buyer. The seller will continue to operate the community.

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AcquisitionsNewsSkilled NursingWisconsin

SLIB Negotiates Sale of 104-Bed ManorCare Health Services in Appleton, Wisconsin

by Jeff Shaw

APPLETON, Wis. — Senior Living Investment Brokerage (SLIB) has arranged the sale of ManorCare Health Services in Appleton, approximately 30 miles southwest of Green Bay. The skilled nursing facility features 104 beds. The seller sought to divest of its only skilled nursing facility in the state. The buyer and price were not disclosed.

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