PIKEVILLE, Ky. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 120-bed skilled nursing facility in Pikeville, located along the Big Sandy River in the eastern portion of the state. The property was built in 1979 and renovated in 1987. The rooms are mostly semi-private. The REIT owner elected to sell the property as the existing operator sought to exit. The seller acquired the asset through a sale-leaseback in fourth-quarter 2019, all part of a larger portfolio. A local operator acquired the facility for an undisclosed price.
Acquisitions
Grandbridge Provides $16.6M Acquisition Financing for Summer Vista Assisted Living in Pensacola
by Jeff Shaw
PENSACOLA, Fla. — Grandbridge’s Seniors Housing and Healthcare Finance Group has provided $16.6 million in financing for the acquisition of Summer Vista Assisted Living in Pensacola. The property totals 89 units of assisted living and memory care. Details on the buyer and seller were not disclosed. Richard Thomas and Thomas Wiedeman, based in Grandbridge’s Atlanta office, originated the Freddie Mac loan.
DAVISON, Mich. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 32-unit assisted living community in Davison, a suburb of Flint. The property was built in 1997 and expanded in 2013. A REIT sold the community to a Grand Rapids-based operator.
JOHNSON CITY, Texas — Senior Living Investment Brokerage (SLIB) has negotiated the sale of LBJ Medical Center, a 60-bed skilled nursing facility in Johnson City, approximately 45 miles west of Austin. The property was built in 1989 and totals 16,045 square feet on a 2.6-acre plot. The transaction was positioned as a value-add opportunity, as its occupancy was only 63 percent even before the COVID-19 pandemic. A local owner-operator exiting the industry sold the asset to a regional owner-operator based in Texas. The price was not disclosed. Matthew Alley arranged …
KLAMATH FALLS, Ore. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 56-unit independent living community in Klamath Falls, located in the southern part of the state near the California border. The buyer is a regional owner-operator that plans to reposition the asset as an affordable option. The seller was not disclosed.
MINEOLA, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of Wood Memorial Nursing Home, located in Mineola approximately midway between Dallas and Shreveport, Louisiana. The skilled nursing facility was built in 1964 and features 115 total beds. The facility saw improved EBITDAR from $100,000 in 2017 to over $1 million in 2020. An owner-operator based in Central Texas sold the property to a Texas-based regional owner-operator for $7.4 million. Matthew Alley, who previously sold this community in 2017, arranged the transaction for SLIB.
HURST, Texas — Senior Living Investment Brokerage has arranged the sale of Bishop Davies Nursing Care Center, a 161-bed skilled nursing facility in Hurst, located between Dallas and Fort Worth. An owner-operator looking to exit the industry sold the property to a regional owner-operator from Louisiana for $8 million. The 70,000-square-foot facility sits on a 5.2-acre lot. It was 74 percent occupied at the time it was placed on the market, which was before the COVID-19 pandemic struck the United States.
MedCore Partners Purchases 582-Unit Seniors Housing Portfolio in Washington, California
by Jeff Shaw
WASHINGTON and CALIFORNIA — MedCore Partners and The National Realty Group, together with BMO Harris Bank and Locust Point Capital, have acquired a 582-unit independent living, assisted living and memory care portfolio in seven markets in Washington and California. The communities in the initial acquisition include five assets in Washington: Birchview Memory Care in Sedro-Wooley with 60 units Discovery Memory Care in Sequim with 55 units The Sequoia in Olympia with 92 units Cooks Hill Manor in Centralia with 72 units The Village in Tacoma with 136 units The transaction also …
SPRINGFIELD, Ore. — Senior Living Investment Brokerage has negotiated the sale of ElderHealth & Living Memory Care Village in Springfield. Built in 1988 and expanded in 1996, the memory care community features 95 beds across 59 units. The facility is approximately 30,215 square feet and is situated on approximately 5.1 acres of land. A regional operator with multiple West Coast communities acquired the property for an undisclosed price. The seller, a local owner-operator divesting its only seniors housing community, will stay on as a consultant. A local bank provided a …
WASHINGTON and OREGON — Blueprint Healthcare Real Estate Advisors has arranged the sale of eight private-pay assisted living assets in Oregon and Washington totaling 321 units. A joint venture between an Arizona-based private equity firm and an Oregon-based owner-operator acquired. The seller and price were not disclosed. The buyer intends to reposition the communities, possibly adding more memory care units.