FLAGSTAFF, Ariz. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 50-bed skilled nursing facility in Flagstaff. Embree Asset Group developed the property in 2018 and entered a triple-net lease with Welbrook Senior Living. It is located less than one mile from downtown Flagstaff and the Flagstaff Medical Center. A nonprofit owner acquired the asset from Embree for an undisclosed price. The buyer also installed The Goodman Group as the operator.
Acquisitions
AURORA and LAKEWOOD, Colo. — CBRE has arranged $14.4 million in financing for the acquisition of a seniors housing portfolio in Colorado. The borrower is a joint venture between Cadence Living and a private equity firm. The two communities, located in the Denver suburbs of Aurora and Lakewood, total 152 assisted living units and 35 memory care units. The joint venture plans to deploy $4 million for improvements to the two communities, the names of which were not disclosed. Aron Will, Austin Sacco and Matthew Kuronen of CBRE National Senior …
Blueprint Arranges Sale of 48-Unit Shoreline of Clinton Memory Care Community in Connecticut
by Jeff Shaw
CLINTON, Conn. — Blueprint Healthcare Real Estate Advisors has brokered the sale of The Shoreline of Clinton, a 48-unit memory care community in Clinton, located on Long Island Sound east of New Haven. The community was renovated in 2015, but due to high levels of competition was still marketed as a value-add opportunity. A New York-based owner-operator acquired the property. The seller and price were not disclosed.
JACKSON, Mich. — Senior Living Investment Brokerage (SLIB) has arranged the sale of RidgeCrest Health Campus, an assisted living and skilled nursing community in Jackson, approximately 75 miles west of downtown Detroit. Built in 2010, the community features 50 skilled nursing beds and 40 assisted living units. Totaling 54,696 square feet, the property was more than 90 percent occupied at the time of sale despite the ongoing COVID-19 pandemic. The seller was a regional owner-operator with communities across Indiana, Ohio, Michigan and Kentucky. The buyer was a Michigan-based company looking …
ATHENS, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 112-bed skilled nursing facility in Athens, approximately 80 miles southeast of Dallas. Built in 1987, the property is located near the University of Texas Health East Texas campus. A REIT sold the asset to a Fort Worth-based owner-operator for an undisclosed price.
OXFORD and SOUTHAVEN, Miss. — Marcus & Millichap has arranged the sale of Hermitage Gardens of Oxford and Hermitage Gardens of Southaven, both seniors housing communities in Mississippi. The properties feature a combined 69,526 square feet of space and 116 units. A REIT sold the assets to a private equity firm for an undisclosed price. Krone Weidler and L.J. Tsunis of Marcus & Millichap’s Tampa office represented both the buyer and the seller. William Davis assisted in the closing.
SACRAMENTO, Calif. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Regency Place Senior Living, a 72-unit independent living, assisted living and memory care community in Sacramento. The seller, a private ownership group, acquired the property in 2015 and improved performance through renovations, the addition of memory care and a change of operator. A California-based owner-operator acquired the property for an undisclosed price, and has elected to keep Northstar Senior Living as the operator.
Kayne Anderson Buys 34-Property Medical Office, Seniors Housing Portfolio from Welltower
by Jeff Shaw
BOCA RATON, Fla. and TOLEDO, Ohio — Kayne Anderson Real Estate has acquired 27 medical office buildings and seven seniors housing communities from giant REIT Welltower (NYSE: WELL). The medical office buildings are spread throughout the country, while the seniors housing communities are all located in Florida. MB Real Estate and Discovery Senior Living operate the portfolio. The price and details on the locations were not disclosed. “This portfolio is a very compelling addition to our platform — institutional-quality medical office buildings with long-duration leases and seniors housing assets with …
Ziegler Arranges $70M Bond Financing for Acquisition of University Village CCRC in Tampa
by Jeff Shaw
TAMPA, Fla. — Ziegler has arranged $70 million in bond financing for Tampa Life Plan Village to expand by acquiring the independent living units of University Village, a nearby continuing care retirement community (CCRC). The acquisition will include 445 independent living apartments, 46 independent living villas, the associated common areas and 32 acres of land. The health center, which features assisted living and skilled nursing units, was not included in the transaction. The seller is Westport Holdings Tampa. The United States Bankruptcy Court for the Middle District of Florida and …
TEMPE, Ariz. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the real estate and operations of a post-acute care retirement campus located in Tempe. The acquisition includes Tempe Post Acute, a 62-bed skilled nursing facility, and Desert Marigold Senior Living of Tempe, a senior living center with 72 assisted living beds and 90 independent living units. These acquisitions bring Ensign’s growing portfolio to 226 healthcare operations, 24 of which also include assisted living operations, across 13 states. Ensign owns the real estate at 92 healthcare operations. Blueprint Healthcare Real …