BON AIR, Va. — Commonwealth Senior Living has taken over operations of a community in the Richmond area and renamed it Commonwealth Senior Living at Bon Air. This will be Commonwealth’s third senior living community in the Richmond area, joining Commonwealth Senior Living at Chesterfield and Commonwealth Senior Living at the West End. The community currently features 77 assisted living and memory care apartments, with both studio and one-bedroom suites. Commonwealth plans to execute a full renovation and updating of the community, to be completed by the first quarter of …
AUSTIN, Texas — Sherman & Roylance has brokered the sale of an eight-acre development site in Austin. The property, previously approved by the City of Austin for a two-story, 98-unit assisted living and memory care facility, faced construction delays and ultimately ended up in foreclosure by Woodforest Bank in September 2023. The “as designed” construction halted in 2022. Woodforest Bank sold the partially completed project to Novak Brothers, which may convert the project into a general multifamily development. “This was a challenging assignment, given the unfinished state of the property …
LAKEWOOD, Colo. — Walker & Dunlop has negotiated the sale of Lakeview Senior Living, a 125-unit independent living community in the Denver suburb of Lakewood. Livingston Street Capital acquired the community, which was built in 2008. The seller and price were not disclosed. Joshua Jandris led the Walker & Dunlop team.
ALPHARETTA, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Tapestry House Memory Care in Alpharetta, a suburb north of Atlanta. The community sits on 1.9 acres offering 42 units of memory care. The seller, Insignia Senior Living, is divesting of its U.S.-based assets to focus on core geographic markets in Puerto Rico and Latin America. The undisclosed buyer is looking to expand its skilled nursing and assisted living portfolio throughout Georgia. Daniel Geraghty and Bradley Clousing handled the transaction for SLIB. “This acquisition was strategic for …
SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NYSE:CTRE), a San Clemente-based investor, has acquired a five-facility, 498-bed skilled nursing portfolio located in the Southeast for $80.9 million, including transaction costs. In connection with the acquisition, the company entered into a new triple-net master lease with affiliates of YAD Healthcare, a new operator relationship for the company and an experienced skilled nursing operator with facilities across multiple states in the Mid-Atlantic and Southeast. The lease has an initial term of 10 years with two five-year extension options and provides for a …
FLORENCE, Ky. — Walker & Dunlop Investment Sales has arranged the sale of Legacy Living Florence, a 128-unit senior living community in Florence, just south of Cincinnati, Ohio. Built in 2022, Legacy Living features independent living, assisted living and memory care services. The buyer was a REIT. The seller and price were not disclosed. Alex Vice, Joshua Jandris and Brett Gardner led the Walker & Dunlop team.
ROCK HILL, S.C. — Liberty Senior Living has taken over management of HarborChase of Rock Hill and renamed the property Kempton of Rock Hill. Rock Hill is located just across the state border from Charlotte, North Carolina. Further details on the transaction were not disclosed. A division of Liberty Health, Liberty Senior Living specializes in senior living and retirement communities.
FAIRFIELD BAY, Ark. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Indian Rock Village, a 121-bed independent living, assisted living and memory care community in Fairfield Bay. Located along Greers Ferry Lake approximately 80 miles north of Little Rock, the community was built in 1990. A regional owner-operator looking to exit the skilled nursing industry sold the asset to a regional owner. The price was not disclosed. Daniel Geraghty and Bradley Clousing handled the transaction for SLIB.
FORT WORTH, Texas — Sagora Senior Living, a Fort Worth-based operator, has taken over management of 17 senior living communities across Alabama, Florida, Nebraska, Oklahoma and Texas. Sagora expands its footprint in Vero Beach, Florida with the addition of two new communities: Heron Cove Assisted Living and Memory Care and Heron Point Independent Living. Both communities are located less than 10 miles from The Brennity of Vero Beach, another Sagora community. Sagora also recently opened Lynridge of Huntsville Assisted Living and Memory Care, expanding the operator’s Lynridge brand to a …
SHARPSBURG, Ga. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Magnolia of Sharpsburg, a 70-unit assisted living and memory care community in Sharpsburg, a suburb south of Atlanta. The community was built in 2021. A group of EB-5 investors sold the property to a Midwest-based developer for an undisclosed price. This was their first acquisition in Georgia. Daniel Geraghty and Bradley Clousing handled the transaction for SLIB.