PARIS, Tenn. — Evans Senior Investments (ESI) has arranged the sale of Henry County Healthcare Center, a 136-bed skilled nursing facility in Paris, located near the Kentucky border west of Nashville and northeast of Memphis. The transaction was executed on behalf of Henry County. Built in 2001, Henry County Healthcare Center sits on five acres of land. At the time of marketing, the facility was only 43 percent occupied and experiencing negative cash flows. Since the COVID-19 pandemic, the community has consistently remained below a 50 percent occupancy level. Although …
LYNNWOOD, Wash. — IRA Capital, a California-based private equity firm, has acquired Quail Park of Lynnwood, a 253-unit, Class A property in the Seattle suburb of Lynnwood. Quail Park is spread across 15 acres and developed in two phases in 2013 and 2020. The property offers independent living, assisted living, “enhanced assisted living” and memory care. IRA made the acquisition in an all-cash deal alongside an institutional joint-venture partner. The new owners plan to invest in updates to common areas and amenities. The seller and price were not disclosed.
MERCER ISLAND, Wash. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 50-unit assisted living and memory care community in Mercer Island, located in Lake Washington just east of Seattle. The property was built in 1990. Its name was not disclosed. The seller was a private real estate fund. The buyer is a Northwest-based owner-operator looking to expand its portfolio in Washington. The new owner plans to remodel the community Jason Punzel and Daniel Geraghty handled the transaction for SLIB.
OHIO, KENTUCKY and INDIANA — Walker & Dunlop Investment Sales has arranged the sale of the Magnolia Springs Portfolio, consisting of seven communities and nearly 700 units across Ohio, Kentucky and Indiana. The seller was an institutional owner-operator while the buyer was a publicly traded REIT. The communities are 10 years old on average. The buyer plans to strategically invest capital into the physical plant of each community to take advantage of strong submarket supply and demand fundamentals. Josh Jandris, Brett Gardner and Alex Vice led the Walker & Dunlop …
TENNESSEE — Blueprint Healthcare Real Estate Advisors has brokered the sale of a vacant assisted living community in Tennessee. The buyer plans to convert the asset into a behavioral health facility. Upon the seller securing the specialized zoning entitlements for inpatient behavioral use, Blueprint’s team took the asset to market and procured an offer from a behavioral healthcare owner-operator that originally planned to purchase the asset, deploy capital improvements, and license the building as an inpatient substance abuse facility. However, during escrow, Blueprint was approached by an adolescent mental healthcare …
AURORA, Colo. — Evans Senior Investments (ESI) has arranged the sale of Summit Rehabilitation & Care Community, a 110-bed skilled nursing facility in the Denver suburb of Aurora. The seller was an independent owner-operator. An East Coast-based real estate holding company acquired the asset for an undisclosed price. ESI also helped arrange a new tenant for the property. Built in 1972 with a 2018 renovation, Summit Rehabilitation & Care Community maintained a 95 percent occupancy rate, generating over $11.9 million in annual revenue.
LAS VEGAS — Evans Senior Investments (ESI) has arranged the sale of a 45-bed post-acute rehab community in Las Vegas. The seller was a regional owner-operator. A national owner-operator with a presence in Nevada acquired the asset for $8.5 million, or $188,888 per bed. The community, exclusively licensed to accept Medicare only, has provided skilled nursing care since its inception in 2015. At the time of marketing, the facility was 73 percent occupied and had struggled to maintain healthy occupancy levels in previous months. Despite these challenges, ESI noted the …
ATCHISON, Kan. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Atchinson Senior Village in Atchinson, approximately 50 miles northwest of Kansas City. Situated along the Missouri River in the northeast region of the state, Atchinson Senior Village offers 45 beds of skilled nursing care on approximately three-acre parcel. Atchison County was the Seller. The buyer is a public company headquartered in California and seeking to expand its presence in Kansas. The price was not disclosed. Ryan Saul and Nick Cacciabando led the transaction for SLIB.
MACEDONIA, Ohio — Walker & Dunlop Investment Sales (WDIS) has arranged the sale of American House Macedonia, a 100-unit assisted living and memory care community in the Northeast Ohio city of Macedonia. Sonida Senior Living Inc. (NYSE: SNDA) acquired the community for $10.7 million, bringing the total number of the company’s Ohio properties to 11. The seller was not disclosed. The asset, built in 2015, experienced operational challenges due to the COVID-19 pandemic, according to Walker & Dunlop. Alex Vice, Joshua Jandris and Brett Gardner led the Walker & Dunlop …
BON AIR, Va. — Commonwealth Senior Living has taken over operations of a community in the Richmond area and renamed it Commonwealth Senior Living at Bon Air. This will be Commonwealth’s third senior living community in the Richmond area, joining Commonwealth Senior Living at Chesterfield and Commonwealth Senior Living at the West End. The community currently features 77 assisted living and memory care apartments, with both studio and one-bedroom suites. Commonwealth plans to execute a full renovation and updating of the community, to be completed by the first quarter of …