NASHVILLE, Tenn. — Brookdale Senior Living Inc. (NYSE: BKD), the nation’s largest operator of senior living communities, has agreed to sell a majority stake in Brookdale Health Care Services (BHS) to HCA Healthcare for $400 million. The BHS unit offers home health, hospice and outpatient therapy services. BHS operates 57 home health agencies and 22 hospice agencies across 26 states, along with 84 outpatient therapy locations. Brookdale will retain a 20 percent stake in the business. HCA Healthcare is one of the nation’s leading providers of healthcare services, comprising more …
SEATTLE and BELLEVUE, Wash. — Washington-based nonprofits seniors housing operators Transforming Age and SHAG (Sustainable Housing for Ageless Generations) have announced the companies have officially affiliated. Transforming Age and SHAG will continue to operate as their own, independent 501(c)(3) nonprofit organizations. The affiliation will be guided by a common board of directors. “As the number of older adults soars, bold moves are needed to ensure seniors have quality homes, access to services and opportunities to thrive no matter their level of income,” says Torsten Hirche, Transforming Age president and CEO. …
GARDEN GROVE, CALIF. — Irvine, Calif.-based Avanath Capital Management has purchased The Grove Senior Apartments, a seniors housing property located at 12721 Garden Grove Blvd. in Garden Grove. Meta Housing sold the asset for $19.8 million. The Grove, which is currently 100 percent occupied, features 85 units, a fitness center, club room, courtyard and bus stop directly in front of the property. Rents range from $840 to $1,729 per month for units ranging from 542 to 815 square feet. While Avanath is headquartered in Irvine and has more than 10,000 …
ROME, N.Y. — Evans Senior Investments (ESI) has arranged the sale of The Terrace at Woodland, a 46-unit assisted living and memory care community in the Central New York city of Rome. An independent owner-operator sold the property to a regional owner operator. The price of $10 million equates to approximately $217,000 per unit and a capitalization rate of 7.5 percent. Built in 2009, The Terrace at Woodland is licensed for 48 assisted living beds and 12 memory care beds. In addition, the community holds an ALP Medicaid license in …
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 …
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. …
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 …
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.
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 …
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 …