DAHLONEGA, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Dahlonega Assisted Living & Memory Care in Dahlonega, located in the North Georgia Mountains approximately 65 miles north of Atlanta. The community features 58 assisted living units and 14 memory care units. The facility received its Certificate of Occupancy in September 2019 and fully leased up with a waitlist only six months after opening, according to SLIB. The property also provides the opportunity to add 20 new units. A local owner-operator seeking to exit seniors housing sold …
Acquisitions
KANSAS CITY, Mo. — GlynnDevins, a seniors housing marketing firm based in Kansas City, has acquired Linkmedia 360, a digital marketing company based in the Cleveland area. The move improves GlynnDevins’ portfolio of products and services that effectively support sales and lead generation for its clients, according to the buyer. “GlynnDevins’ growth involves a consistent focus on improving the efficiency and value of our marketing solutions,” says Chris Egan, president and CEO of GlynnDevins. “Linkmedia 360 strengthens our digital capabilities and platform expertise. The addition of this business is the …
DAVIE, Fla. — Fairstead has acquired Federation Davie Apartments, an affordable seniors housing community in the Miami suburb of Davie, for $17.9 million. It’s the company’s seventh such deal since November. Fairstead plans preserve long-term affordability for the building’s 80 units for at least 30 years. The buyer also plans to undertake a $12 million rehabilitation of the apartments, common areas and building systems. Fairstead purchased the property from the Jewish Federation of Broward County, which will steer proceeds from the sale toward its social service and community service work …
DALTON, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Tranquility of Dalton in the Chattanooga, Tennessee, suburb of Dalton. The asset was built in two phases: The 34-unit assisted living section was built in 2013, and the 24-unit memory care section was built in 2016. The seller is a partnership that divested Tranquility of Dalton to exit the seniors housing industry. The buyer is a Southeast-based owner-operator that is strategically adding to its portfolio. Daniel Geraghty and Brad Clousing of SLIB handled the transaction.
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. …
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.