CHICO and OROVILLE, Calif. — Senior Living Investment Brokerage (SLIB) has arranged the sale of three Roseleaf-branded seniors housing communities totaling 85 units and 131 beds. Roseleaf Gardens and Roseleaf Senior Care are located in Chico, in the Northern Sacramento Valley. Roseleaf Oroville is located in Oroville, in Butte County. The facilities are approximately 20,000, 5,000 and 24,900 square feet, respectively. The seller is a local owner-operator with these being their only senior care communities. The buyer is a regional group making its first entrance to the senior care space. …
Acquisitions
TACOMA, Wash. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Northwest Retirement Assisted Living Community in Tacoma. The 110-unit community “provides an affordable option to the area’s growing senior population,” according to Blueprint. The long-time owner sold the property to a local owner-operator. Harvest Bank provided acquisition financing at 85 percent of the undisclosed purchase price.
SLIB Brokers Sale of 130-Bed Cambridge House Skilled Nursing Facility in Bristol, Tennessee
by Jeff Shaw
BRISTOL, Tenn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Cambridge House, a 130-bed skilled nursing facility in Bristol, located in the northeast corner of the state. A regional operator owned the 38,075-square-foot facility, but fell into bankruptcy. A mid-sized, Mid-Atlantic skilled nursing owner with operating partners in Tennessee acquired the property for an undisclosed price. Ryan Saul of SLIB facilitated the sale.
Strawberry Fields REIT Acquires Hope Creek Skilled Nursing Facility in Illinois for $4M
by Jeff Shaw
EAST MOLINE, Ill. — Strawberry Fields REIT LLC has acquired Hope Creek Nursing and Rehabilitation Center in East Moline, located across the Mississippi River from Davenport, Iowa. The Indiana-based, non-traded REIT paid $4 million for the 245-bed skilled nursing facility, which is located on a 12-acre parcel. Built in 2007, is the newest skilled nursing facility in the Quad Cities, according to the buyer. The facility offers full inpatient rehabilitation, respite stays, hospice services, individualized care plans, restorative therapy programs, a secured memory care unit and a variety of activities …
PATERSON, N.J. — KeyBank Community Development Lending and Investment (CDLI) has provided $5 million of financing for Radiant Property Management LLC, a Newark-based real estate services company. The funds will be used to acquire Rosa Parks Apartments, a Section 8 affordable housing property for seniors in Paterson. The five-story building features 50 units. Radiant Property Management will manage the property following the acquisition. Eric Steinberg of KeyBank’s CDLI team structured the financing.
MASSACHUSETTS — Blueprint Healthcare Real Estate Advisors has arranged the sale of four skilled nursing facilities totaling 572 beds in Eastern Massachusetts. A court-appointed receiver sold the facilities in two separate transactions. The price was not disclosed. A regional operator had taken over operations as interim manager. The company partnered with a capital partner to acquire all four facilities.
SAN BERNARDINO COUNTY, Calif. — JCH Senior Housing Investment Brokerage has arranged thes sale of an 83-Unit assisted living and memory care facility in San Bernardino County. The price was $13.9 million, or $168,000 per unit. The buyer, seller and name of the community were not disclosed. Jim Hazzard, and Cindy Hazzard handled the transaction process.
BOSTON — A joint venture led by Taurus Investment Holdings and Northbridge Cos. has acquired six Class A seniors housing properties located in suburban Boston submarkets for approximately $200 million. The 507-unit portfolio consists of assisted living and memory care. Northbridge, a developer, owner, operator and asset manager of senior living communities, already manages the properties. The seller was Welltower, the largest REIT in the seniors housing space. The acquisition marks Taurus’ first investment in the senior housing sector. The specific names and locations of the properties were not disclosed. …
ROCKY RIVER, Ohio — Evans Senior Investments (ESI) has brokered the sale of Rockport Senior Living, a 117-unit assisted living and memory care community in the Cleveland suburb of Rocky River. A local independent owner sold the property to an undisclosed buyer for $4.8 million, or $41,000 per unit. Built in 1967, Rockport Senior Living was originally a hotel that was converted into a senior living facility in 1986. Located less than 10 miles from downtown Cleveland, the facility has a unit mix of 108 assisted living units and nine …
COLUMBIA, S.C. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Amara Place, a seniors housing community in Columbia. The property features 38 independent living units, 32 assisted living units and 22 memory care units. The asset recently underwent a $2 million renovation project. Amara Place comprises seven buildings in 6.9 acres of land. An owner-operator looking to expand in the region acquired Amara Place from a private capital provider exiting the seniors housing industry. The price was not disclosed. Bradley Clousing and Jason Punzel of SLIB handled …