SUWANEE, Ga. — Suwanee-based Regional Health Properties (RHE) has completed the sale of three of four skilled nursing properties located in Oklahoma, Alabama and Georgia to affiliates of MED Healthcare Partners. The four-property transaction was previously disclosed by RHP in April. The three properties were sold for the purchase price of $26.1 million in cash. RHE and MED agreed to extend the closing date on the fourth property located in Oklahoma to Aug. 18. RHP used the cash proceeds from the sale to pay approximately $1 million in outstanding interest, fees …
Acquisitions
BMO Harris Healthcare Closes $19.5M Acquisition Loan for 132-Unit Seniors Housing Community in Indiana
by Jeff Shaw
BLOOMINGTON, Ind. — BMO Harris Bank’s Healthcare Real Estate Finance group has closed a $19.5 million acquisition loan for Gentry Park Senior Living, a seniors housing community located at 901 S. Hastings Drive in Bloomington. The owners are an institutional private equity group, and St. Charles, Mo.-based Arrow Senior Living is the new fee-based manager of the facility. Built in 2016, the 132-unit seniors housing facility 32 senior villas, 74 assisted living units and 26 memory care units. Additionally, the 80,611-square-foot property features common areas, concierge services, free chauffeured transportation, spacious …
TOLEDO, OHIO — Welltower Inc. (NYSE: WELL) has expanded its senior living portfolio to the tune of 15 properties worth $949 million across the country. Simultaneously, the healthcare REIT giant exited its partnership with seniors housing operator Benchmark Senior Living, selling its 48-property portfolio to an undisclosed buyer for $1.8 billion. The 48 properties that Benchmark operates total 4,137 units and are located in Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont. As part of the recapitalization, Benchmark will invest in improvements at the properties. Benchmark will continue to …
Madison Marquette, GFH Financial Acquire Six-Property Senior Living Portfolio for Over $180M
by Jeff Shaw
CALIFORNIA, WASHINGTON AND MICHIGAN — Madison Marquette and GFH Financial Group have acquired a portfolio of six private-pay senior living communities in California, Washington and Michigan. Although a specific purchase price was not provided, GFH described the deal as “exceeding $180 million in value.”