AUSTINTOWN, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Victoria House in Austintown, approximately 10 minutes west of downtown Youngstown. The property features 64 units, totaling 84 licensed beds and 72 operational beds. The community opened in December 2005 and features a secured specialty care wing for residents with Alzheimer’s disease and dementia. Blueprint successfully negotiated a lease of the community several years ago to a regional operator, Continuing Healthcare Solutions, which has now successfully exercised its purchase option to acquire the community.
Acquisitions
CHICAGO and RICHARDSON, Texas — Chicago-based private equity firm Thoma Bravo has acquired RealPage (NASDAQ: RP), the Richardson, Texas-based provider of property management software, in a deal valued at $10.2 billion. The price tag includes the assumption of the debt of RealPage, which was founded in 1998 and serves owners worldwide, including seniors housing. Under the terms of the agreement, RealPage stockholders will receive $88.75 in cash per share of RealPage common stock upon closing of the transaction. The purchase price represents a premium of 30.8 percent over RealPage’s closing stock …
IRVINE, Calif. — Kisco Senior Living has acquired Atria Park of Woodbridge, a 139-unit seniors housing community in Irvine, approximately 40 miles southeast of downtown Los Angeles. Healthpeak sold the 103,000-square-foot property for an undisclosed price. The seller recently completed a $9 million renovation at the community that converted some assisted living units into a memory care neighborhood. In addition to taking over management duties from Atria Senior Living, Kisco plans to rename the community Woodbridge Terrace of Irvine as part of the results of a resident poll. The executive …
ANGELS CAMP, Calif. — A partnership between Auerbach Funds and Prado Senior Living, an affiliate of Mello Group LLC, has acquired Foothill Village, an independent living, assisted living and memory care community in Angels Camp, approximately 80 miles southeast of Sacramento. The new owners plan to renovate the 70-unit community, including the addition of new dining outlets, outdoor amenities and a lounge that overlooks the Sierra Nevada Mountains. “We were able to acquire the asset off market during the height of COVID-19 pandemic,” says Peter Auerbach, founder and managing partner …
ORMOND BEACH, Fla. — Capital Square 1031 has acquired The Falls, a 599-homesite manufactured housing community for seniors in Ormond Beach, just north of Daytona on Florida’s Atlantic Coast. “This is Capital Square’s fifth and largest manufactured housing community acquisition to date, closing out a record-breaking year despite the COVID pandemic,” says Louis Rogers, founder and chief executive officer. “Capital Square is bullish on manufactured housing communities in Florida, which are among the most desirable assets in the nation due to high occupancy, increasing rental rates, low operating costs and …
MCKINNEY, Texas — Draper and Kramer has acquired Adriatica Senior Living, a 121-unit rental community for active seniors in McKinney, a suburb located 30 miles north of Dallas. Built in 2017, Adriatica Senior Living offers units ranging from 806 to 1,370 square feet. The seller and price were not disclosed. The community is part of Adriatica Village, a mixed-use development modeled after a Croatian fishing village with Mediterranean-style buildings, cobblestone streets and a mix of boutiques, restaurants and entertainment. Draper and Kramer also owns and manages a neighboring multifamily property …
PHOENIX — Colliers International has arranged the sale of Prescott Lakes, an age-restricted apartment community in Phoenix. CA Prescott Lakes Owner LLC acquired the asset from BAZV Prescott Lakes LLC for an undisclosed price. Restricted to residents age 55 or older, the 99,972-square-foot Prescott Lakes features 128 condominium-style one- and two-bedroom apartments. Built in 2003 on four acres, the community includes a dog park, fitness center, game room, media center, pool, spa, outdoor entertainment veranda and fully furnished guest suites. Cindy Cooke, Brad Cooke, Matt Roach, Chris Roach and Tim …
WAUCHULA, Fla. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Hardee Manor Healthcare and Rehabilitation Center is a 79-bed skilled nursing facility, located southeast of Tampa in Wauchula. As the operator’s only facility in the state, the REIT landlord elected to exit through a strategic sale to a pre-identified buyer looking to expand its regional footprint in Central Florida.
Monticello Provides $20M Financing for 251-Bed Skilled Nursing Portfolio in Kansas, Ohio
KANSAS and OHIO — Monticello has provided $20 million in first lien debt financing for the acquisition of two skilled nursing facilities and the contribution of one unencumbered skilled nursing facility located in Kansas and Ohio. The borrower is an owner-operator with a current portfolio of 1,188 licensed. Prior to this deal, Monticello financed the acquisition of a number of facilities in 2020 for the borrower.
VIRGINIA — Newmark has arranged the $149.6 million sale of a nine-property portfolio of skilled nursing facilities. The properties combined total 1,014 beds across the state of Virginia. The specific names and locations were not disclosed. Annaly Capital Management sold the properties to Next Healthcare Capital for an undisclosed price. The new owner will continue to work with the existing operator. Newmark Seniors Housing Group’s Ross Sanders, David Fasano, Ryan Maconachy, Chad Lavender and John Giebel represented the seller.