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 …
Acquisitions
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
by Jeff Shaw
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.
PORTLAND, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Emerson House Portland, a memory care community in Portland. The property features 29 units totaling 55 bed. It was built in 1999 and renovated in 2013, now totaling 15,000 square feet on one third of an acre. A regional owner-operator existing the industry sold the asset to an Oregon-based operator for an undisclosed price. The new owner has agreed to operate the property as a COVID recovery facility for the State of Oregon. Jason Punzel, Brad Goodsell …
JCH Negotiates $5.4M Sale of Skilled Nursing, Assisted Living Campus in Southern California
by Jeff Shaw
HEMET, Calif. — JCH Senior Housing Investment Brokerage has arranged the sale of a seniors housing community in Hemet, located the San Jacinto Valley, totaling 64 skilled nursing beds and 49 assisted living beds. A family-owned owner-operator sold the property to a first-time buyer for $5.4 million. The new owner immediately leased the property to a local assisted living operator. The price equates to a capitalization rate of 9 percent and a price per bed of $84,375.
LOS ANGELES — The Stahler Group of Marcus & Millichap has arranged the sale of an 89-unit assisted living and memory care community in Los Angeles County. The specific name and location of the property were not disclosed. A private investor sold the property to a regional owner with a track record of successful turnarounds. The price was not disclosed. The property was originally leased to Summerville followed by Emeritus and then ultimately Brookdale following the merger with Emeritus. Brookdale recently chose to not renew its lease.
PERRY, Iowa — Blueprint Healthcare Real Estate Advisors has arranged the sale of Rowley Masonic Community, a seniors housing campus located on more than 20 acres in Perry, a suburb of Des Moines. The original Rowley Masonic Community was built in the late 1950s with eight independent living cottages added in the 1980s. In January 2014, the seller began constructing a 72,000-square-foot addition featuring 16 assisted living units and 57 skilled nursing and transitional care beds. The Board of Directors engaged Health Dimensions Group in 2018 to help stabilize operations …
FORT MYERS, Fla. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired The Summit of Fort Myers, a 136-unit independent living community in Fort Myers. The property was previously known as Grand Villa of Fort Myers. The name change reflects the change in ownership, as well as the new operator, Grace Management. CPF also plans to implement improvements at the property. The Summit of Fort Myers is located in the Cypress Lake community, close to shopping areas, restaurants, medical facilities, and indoor …
NEW JERSEY — Blueprint Healthcare Real Estate Advisors has arranged the sale of two assisted living communities in New Jersey. The properties each feature 39 units and are located 45 miles away from each other. A New Jersey-based owner-operator looking to expand acquired the properties as a value-add opportunity. The seller, price, names and specific locations were not disclosed.