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.
Acquisitions
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 …
BALTIMORE — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 126-bed assisted living and skilled nursing community in suburban Baltimore. Acts Retirement-Life Community sold the asset, as it did not fit the nonprofit owner-operator’s usual business model of continuing care retirement communities. An undisclosed buyer paid $20 million for the property.
ROCHESTER, N.Y. — Blueprint Healthcare Real Estate Advisors has arranged the sale of The Shire Senior Living in Rochester. The community features 200 beds of assisted living, as well as 42 standard apartment units. Ardent Senior Living sold the property to a New York-based owner-operator for an undisclosed price.
WICHITA, Kan. — KeyBank Community Development Lending and Investment (CDLI) has provided an $11.3 million tax-exempt construction and permanent bond loan for the acquisition of Somerset Tower Plaza in Wichita. Steele Properties plans to renovate the 100-unit affordable seniors housing community. The city of Wichita issued the bonds, and the National Development Council provided $4.2 million of Low-Income Housing Tax Credit equity. Originally constructed in 1979, the seven-story Somerset Tower Plaza is located two miles from the Wichita Central Business District. The renovation will include exterior upgrades and life-safety improvements. …
SALEM, Ore. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 190-unit seniors housing campus in Salem. The community features 94 independent living apartments, 22 cottages and 72 assisted living units. At the time it was put on the market, the property generated a 30 percent profit margin and was still 94 percent occupied despite the pandemic, according to Blueprint. The seller was an ownership group finalizing its exit from seniors housing. The buyer was a local owner-operator with two other communities within a mile of the …
ORLANDO and WINTER PARK, Fla. — Strive Senior Living, based in Orlando, has acquired Sutton Homes, based in Winter Park. Sutton Homes is a 25-year-old operator of seven seniors housing communities in Central Florida. Sutton Homes is focused on memory care, and Strive will launch a new standalone memory care brand named Sanctuary by Strive to lead the new portfolio. Strive purchased all assets of the company and will continue to operate the communities under Sutton Homes until the full rebrand to Sanctuary by Strive is completed by the end …