PORTLAND, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Senior Haven, an assisted living community in Portland, Oregon. The property features 47 units totaling 50 beds. The community was built in 2012 and expanded in 2018. The facility is approximately 19,337 square feet and is situated on approximately 1.29 acres of land. A local owner-operator sold the property for an undisclosed price, and will continue to serve as a consultant post-closing. Senior Haven is the seller’s only senior living community. The buyer is a regional operator …
Acquisitions
NEW YORK CITY — Greystone, a New York City-based healthcare facility owner and operator, has acquired 12 skilled nursing facilities and one supportive living community in Illinois and Missouri. The properties were all previously operated by Rosewood Care Centers. The Department of Housing and Urban Development (HUD) sold the assets for an undisclosed price. The portfolio totals 1,662 beds, and Greystone Healthcare Management Midwest will rebrand and operate the communities. The 13 properties are: Rosewood Care Center of Alton, Illinois, now named Riverside Rehab & Healthcare Rosewood Care Center of …
Monticello Funds $13.5M Acquisition Loan for 120-Bed Skilled Nursing Facility in Virginia
by Jeff Shaw
VIRGINIA — Monticello has provided $13.5 million in financing for the acquisition of a skilled nursing property totaling 120 beds in Virginia. The borrower is an owner and operator with 26 facilities in five states, including seven facilities totaling 915 beds in Virginia. The specific name and location of the acquired facility was not released.
OHIO — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 152-unit skilled nursing and assisted living facility in Northeast Ohio. A local owner-operator seeking to exit the industry sold the property to a private equity owner-operator with experience in the local marketplace. The price was $8.5 million. Connor Doherty and Ryan Kelly handled the transaction for Blueprint. The name and specific location of the community were not disclosed.
CHICAGO — JLL Capital Markets has arranged the sale of St. Pauls House, a 171-bed skilled nursing community in Chicago. Lutheran Life Communities sold the facility to an Illiois-based operator for an undisclosed price. St. Pauls House was originally built in 1921, with the additions of the East Wing in 1956 and the West Wing in 1970. The 100,000-square-foot community is situated on 2.4 acres in Chicago’s Irving Park neighborhood, northwest of downtown. Mike Garbers and Cody Tremper led the JLL Seniors Housing Capital Markets investment advisory team.
MURFREESBORO, Tenn. — Brookdale Senior Living (NYSE: BKD) has exercised a purchase option to acquire eight communities from Murfreesboro-based National Health Investors Inc. (NYSE:NHI). The assisted living facilities total 336 units and span three states. Brookdale paid $39.3 million. Further details on the names and locations of the properties were not released.
LOUISIANA — Blueprint Healthcare Real Estate Advisors has arranged sale of a portfolio of five seniors housing communities located throughout Louisiana. The Georgia-based owner-operator, which originally developed the communities in the late 1990s, chose to sell the properties to focus on its home-state portfolio. A joint venture partnership between California-based Griffin-American Healthcare REIT IV and Georgia-based Senior Solutions Management Group (SSMG) acquired the portfolio. The price and specific names of the properties were not disclosed. Brooks Blackmon and Steve Thomes facilitated the transaction for Blueprint.
GREENVILLE, S.C., and NAPLES, ST. PETERSBURG and CLEARWATER, Fla. — Inspirit Senior Living has acquired a portfolio of four seniors housing properties located throughout the west coast of Florida and in South Carolina. Formerly operated by Brookdale Senior Living, the communities have been rebranded as The Collier at Naples in Naples, The Pointe in St. Petersburg, The Landmark in Clearwater and The Parker in Greenville. Inspirit formed a joint venture with Venue Capital LLC, an investment and asset management firm that partners with regional operators, for the acquisition. Inspirit and …
CANTON, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 74-unit assisted living and skilled nursing facility in Canton. A local owner-operator seeking retirement sold the property to a regional developer, owner and operator for an undisclosed price. The name of the community was not released. The property was constructed in 2016. It was cash-flow neutral at the time of sale, so was marketed as a value-add opportunity. The incoming owner-operator plans to de-license the skilled nursing beds, introduce memory care, bring in new leadership and …
Dane Real Estate Negotiates $19.1M Sale of York Towne House Affordable Community in Pennsylvania
by Jeff Shaw
YORK, Pa. — Dane Real Estate has arranged the sale of York Towne House, an affordable seniors housing community in York, approximately halfway between Harrisburg and Baltimore. The price was $19.1 million. Neither the buyer nor the seller were disclosed. The 10-story building was constructed in 1979 and features 201 units. All apartments are reserved for the elderly under the Section 8 program. Heidi Burkhart of Dane Real Estate arranged the transaction.