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.
Acquisitions
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 …
COTTAGE GROVE, Wis. — Evans Senior Investments (ESI) has arranged the sale of Aster Senior Communities of Cottage Grove and Drumlin Residences, a 154-unit independent living, assisted living and memory care campus in Cottage Grove, a suburb of Madison. The campus first opened its doors in 2006 with the 70-unit assisted living community, then followed by the 24-unit memory care community in 2016 and the 130-unit Drumlin Residences independent living section in January of 2018. The campus maintained over 93 percent occupancy for the last few years. ESI represented the …
KING CITY, Ore. — JLL Capital Markets has arranged the sale of King City Senior Village in King City, a suburb of Portland. Focus Healthcare Partners soled the property to Livingston Street Capital for an undisclosed price. King City Senior Village is a 114-unit independent living property consisting of two living options: duplex cottages and traditional apartments. The community was built in 1986 and underwent significant renovations in 2018. The JLL Capital Markets team representing the seller includes Cody Tremper, Mike Garbers and Dean Ferris. “The property is standalone independent …
TEXAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of three assisted living communities in East Texas. Two of the communities were vacant at the time of sale. The other was operational and 90 percent occupied. The portfolio totals 132 units. Dallas-based owner-operator WindRiver Cos. acquired the properties. The seller and price were not disclosed.
TOLEDO, OHIO — Welltower Inc. (NYSE: WELL) has sold three separate portfolios totaling $1.3 billion in value. The portfolios comprise 11 seniors housing facilities in the Western United States, six seniors housing communities in Massachusetts and 20 outpatient medical facilities across five states. Separately, Welltower also announced on Monday a strategic personnel change in the C-suite as the Toledo-based REIT promoted Shankh Mitra from chief operating officer to CEO effective immediately. Tom DeRosa is stepping down from his role as CEO after six years. Mitra will also retain his chief …
ENGLEWOOD, Fla. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired Heritage Oaks of Englewood, a 118-unit assisted living and memory care community in Englewood. Located along the state’s Gulf Coast between Tampa and Fort Myers, Heritage Oaks of Englewood is located near the Grove City shopping area, medical facilities, and indoor and outdoor recreation. The acquisition of Heritage Oaks of Englewood includes approximately 50 acres adjacent to the community, which may be utilized for future development. Additional terms of the deal …
BELLEVUE, Wis. — National Health Investors Inc. (NYSE:NHI) has exercised its purchase option to acquire The Courtyard at Bellevue, a 43-unit assisted living and memory care community in Bellevue, a small village just outside of downtown Green Bay. The purchase option was part of a deal that included a $3.9 million second mortgage loan at a rate of 13 percent that NHI announced in January 2020. The purchase price is $12.3 million at an initial cash lease yield of 7.5 percent with 2.5 percent annual escalators. The lease has an …