Acquisitions

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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AcquisitionsCaliforniaNevadaNewsWashington

Aegis Living, Blue Moon Capital Buy Seniors Housing Portfolio in Western US from Healthpeak for $350M

by Jeff Shaw

BELLEVUE, Wash. and BOSTON — Aegis Living, a seniors housing owner and operator based in Bellevue, has acquired 10 properties from Healthpeak Properties Inc. (NYSE: PEAK). Aegis already operated the communities under a lease agreement with Healthpeak Properties, a Denver-based real estate investment trust (REIT). Aegis’ joint venture partner on the $350 million acquisition is Blue Moon Capital Partners LP, a Boston-based private equity investor in the seniors housing sector. The portfolio is located in Washington, California and Nevada, totaling 702 units of assisted living and memory care. The acquired …

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AcquisitionsAssisted LivingFinanceNew JerseyNews

Cushman & Wakefield Arranges Acquisition Financing for Three-Property Portfolio in New Jersey

by Jeff Shaw

CHERRY HILL, VOORHEES and STAFFORD TOWNSHIP, N.J. — Cushman & Wakefield’s Senior Housing Capital Markets team has arranged an undisclosed amount of financing for the acquisition of three seniors housing communities in New Jersey. The borrower is a joint venture between Harrison Street and LCB Senior Living. The communities, all under the Atria brand, total 263 units of assisted living and memory care. Two properties are located in the Philadelphia suburbs of Cherry Hill and Voorhees, while the third is in Stafford Township near the Jersey Shore. Cushman & Wakefield …

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AcquisitionsArkansasNewsSkilled Nursing

SLIB Negotiates Sale of West Memphis Health & Rehabilitation in Arkansas

by Jeff Shaw

WEST MEMPHIS, Ark. — Senior Living Investment Brokerage (SLIB) has arranged the sale of West Memphis Health & Rehabilitation, a skilled nursing facility in West Memphis, just across the Mississippi River from Memphis, Tennessee. The property features 85 beds. An Arkansas-based regional owner-operator sold the community to another regional owner-operator looking to expand in the state. The price was not disclosed. Bradley Clousing and Daniel Geraghty of SLIB handled the transaction.

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AcquisitionsMassachusettsNews

Grandbridge Brokers $19M Sale of Seniors Housing Community in Springfield, Massachusetts

by Jeff Shaw

SPRINGFIELD, Mass. — Grandbridge Real Estate Capital’s Tampa-based Senior Housing Investment Sales team has arranged the $19 million sale of a senior living community in Springfield, located 25 miles north of Hartford, Connecticut. The community features a mix of independent living cottages, independent living apartments and assisted living units on a 40-acre campus. Allen McMurtry, Dave Kliewer and Jay Jordan represented the seller, a West Coast-based senior living investor. Qualified bidders were invited to participate in a virtual live auction of the community in late September 2020. Following more than …

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AcquisitionsMassachusettsNewsSkilled Nursing

Blueprint Brokers Sale of Two Skilled Nursing Facilities in Massachusetts

by Jeff Shaw

LEOMINSTER and GARDNER, Mass. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Keystone Center and Wachusett Manor, skilled nursing facilities located, respectively, in Leominster and Gardner. Both located north of Worcester near the New Hampshire border, Keystone Center is licensed for 106 beds while Wachusett Manor is licensed for 96 beds. Acquired as part of a larger portfolio transaction in 2016, the private equity owner and its operator partner decided to pursue a strategic exit. The buyer was an in-state ownership group and its operating partner, both …

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AcquisitionsCaliforniaNewsSkilled Nursing

Ensign Group Acquires 297-Bed Skilled Nursing Portfolio in Southern California

by Jeff Shaw

SAN DIEGO, FULLERTON and HAWTHORNE, Calif. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of three skilled nursing facilities in Southern California on a triple-net lease basis. The properties include Golden Hill Post Acute, a 99-bed facility in San Diego; St. Catherine Healthcare, a 99-bed facility in Fullerton; and Camino Healthcare, a 99-bed facility in Hawthorne. This acquisition brings Ensign’s growing portfolio to 231 healthcare operations, 24 of which also include assisted living operations, across 13 states. Ensign owns 95 real estate assets.

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