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Acquisitions

AcquisitionsNewsOklahomaSkilled Nursing

Blueprint Arranges Sale of Seven-Property Skilled Nursing Portfolio in Oklahoma

by Jeff Shaw

OKLAHOMA — Blueprint Healthcare Real Estate Advisors has negotiated the sale of seven skilled nursing facilities in Eastern Oklahoma. The seller was Birchwood Healthcare Partners, a Chicago-based private investor and owner-operator. A Missouri-based operator acquired the assets for an undisclosed price. The portfolio comprises 561 total licensed skilled nursing beds. The regionally clustered portfolio also benefited from the recent Medicaid rate increases and steady census rebounds, according to Blueprint. As part of the marketing, Blueprint cited attractive assumable HUD debt on select facilities, proof of concept and improved performance tracking …

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AcquisitionsAssisted LivingGeorgiaNews

Berkadia Negotiates Sale of Two Seniors Housing Properties in Metro Atlanta

by Jeff Shaw

ATLANTA and MARIETTA, Ga. — Berkadia has arranged the sale of two assisted living and memory care communities in the Atlanta metropolitan area. The portfolio totals 146 units in Atlanta and the suburb ofMarietta. The seller was a publicly traded REIT. A regional owner-operator acquired the assets for an undisclosed price.  Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders led the Berkadia team.

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AcquisitionsAssisted LivingColoradoNews

Ziegler Brokers Sale of Bethesda Senior Living Community in Grand Junction, Colorado

by Jeff Shaw

GRAND JUNCTION, Colo. — Ziegler has acted as exclusive financial advisor to Bethesda Senior Living on the sale of an assisted living community located in Grand Junction, near the Utah border. Bethesda Senior Living is a faith-based, nonprofit operator of over 20 communities spanning the Midwest and West regions. Cornerstone Management purchased the community in conjunction with a private real estate fund and took over operations. The price was not disclosed.

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AcquisitionsIllinoisNews

SLIB Brokers Sale of 188-Unit Community Near Chicago

by Jeff Shaw

CHICAGO — Senior Living Investment Brokerage has arranged the sale of a 188-unit independent living, assisted living and memory care community in a southern submarket of Chicago. The seller was a Midwest-based institutional capital provider. The buyer was a Midwest-based owner-operator looking to strategically expand its existing footprint throughout the Midwest. Further details were not disclosed. Brad Clousing, Daniel Geraghty, and Ryan Saul led the transaction for SLIB.

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AcquisitionsAffordable HousingCaliforniaNews

CPP Acquires 102-Unit Corinthian House Affordable Community in San Jose

by Jeff Shaw

SAN JOSE, Calif. — Community Preservation Partners (CPP) has purchased Corinthian House, an affordable seniors housing property in San Jose. CPP’s total development investment is approximately $38 million, which includes the purchase price of $21 million and an estimated per-unit renovation cost of $85,000. Built in 1982, Corinthian House comprises two elevator-served, three-story buildings on 1.7 acres. Located at 250 Budd Ave., the 102-unit property offers studio and one-bedroom layouts designated for seniors age 62 and older earning between 30 and 60 percent of the area median income. Planned renovations …

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AcquisitionsCCRCMassachusettsNews

ESI Arranges Sale of Shrewsbury Campus CCRC in Massachusetts

by Jeff Shaw

SHREWSBURY, Mass. — Evans Senior Investments (ESI) has arranged the sale of the Shrewsbury Campus, a continuing care retirement community (CCRC) in Shrewsbury, a suburb of Worcester.  Shrewsbury Campus was built in phases between 1969 and 1986. The community comprises Southgate at Shrewsbury for private-pay senior living, Shrewsbury Nursing & Rehabilitation for skilled nursing and a group of medical office buildings named Shrewsbury Medical Center. Southgate at Shrewsbury and Shrewsbury Nursing & Rehabilitation offer a combined total of 171 independent living units, 60 assisted living units and 99 skilled nursing …

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AcquisitionsAssisted LivingNew JerseyNews

SLIB Negotiates Sale of 160-Unit Mattison Crossing in Freehold, New Jersey

by Jeff Shaw

FREEHOLD, N.J. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Mattison Crossing at Manalapan Avenue, a 160-unit assisted living and memory care community in Freehold, approximately 50 miles south of New York City. Mattison Crossing features 199 beds.. The community’s performance was stabilized during the marketing period with opportunities for future growth, according to SLIB. The seller was a partnership between Stephanie Anderson and Steve Walling (SilverStone HCRE) and a private equity group located in the West. The buyer was a publicly traded REIT with an established …

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AcquisitionsNewsSkilled NursingTennessee

Lument Securities Arranges Sale of Summit View of Rocky Top Skilled Nursing Facility in Tennessee

by Jeff Shaw

ROCKY TOP, Tenn. — Lument Securities has arranged the sale of Summit View of Rocky Top, a 117-bed skilled nursing facility in Rocky Top, a suburb of Knoxville. The seller was a private long-term care operator based in Tennessee. The buyer and price were not disclosed. Laca Wong-Hammond and Isabel Carta led the transaction for Lument Securities. Summit View of Rocky Top offers a broad range of services, including short-term rehabilitation and traditional nursing care, along with an 18-bed behavioral health hospital. In recent years, Summit View experienced financial and …

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AcquisitionsConnecticutNewsSkilled Nursing

ESI Arranges the Sale of Eight-Property Portfolio in Metro Hartford, Connecticut

by Jeff Shaw

HARTFORD, Conn. — Evans Senior Investments (ESI) has arranged the sale of an eight-property skilled nursing portfolio across the Hartford area of Connecticut.  The transaction, executed on behalf of a REIT from the West Coast, amounted to $60 million, or $54,249 per bed for the real estate only. The buyer was the existing operator. Made up of eight communities built between 1966 and 1990, this portfolio represents a significant share of the Connecticut skilled nursing market, with a total of 1,106 skilled nursing beds.  Upon marketing, the portfolio’s average census …

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AcquisitionsAssisted LivingNewsOhio

Sonida Purchases 100-Unit Community in Macedonia, Ohio for $10.7M

by Jeff Shaw

MACEDONIA, Ohio — Sonida Senior Living Inc. (NYSE: SNDA) has acquired a 100-unit assisted living and memory care in Macedonia, approximately midway between Cleveland and Akron. The latest acquisition, in close proximity to an existing Sonida asset, brings the total number of the company’s Ohio portfolio properties to 11. The asset, built in 2015, has not recovered from changes in operator and COVID-driven challenges, according to the buyer. Sonida is acquiring the asset for $10.7 million at a 43 percent discount to the in-place senior mortgage loan and approximately $105,000 …

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