KNOXVILLE and JACKSON, Tenn. — Berkadia has arranged the sale of two assisted living and memory care communities in Tennessee. Berkadia Seniors Housing & Healthcare, led by Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders, negotiated the 127-unit transaction on behalf of a publicly traded REIT. Mainstay Senior Living acquired the properties, which are located in the Knoxville and Jackson markets. Further details were not disclosed.
BOUNTIFUL, Utah — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the real estate and operations of South Davis Specialty Care a 95-bed skilled nursing operation, and Western Peaks Specialty Hospital, a 43-bed long-term acute care hospital (LTACH). Both assets are located in Bountiful, approximately 10 miles north of Salt Lake City. The real estate was acquired by a subsidiary of Standard Bearer Healthcare REIT Inc., Ensign’s captive real estate company. “This acquisition represents a milestone in our organization, as it is the first acquisition of a long-term acute care …
SAVOY, Ill., and FRANKLIN, Wis. — Anthem Memory Care has assumed management of two communities — Savoy Place in Savoy and Franklin Place in Franklin. Under the agreement, Anthem Memory Care is managing all aspects of the communities’ operations and will add regional staff, technology and training programs to adapt the communities to its approach to care. The new properties bring Anthem’s portfolio up to 20 properties and marks the Oregon-based operator’s entry into Wisconsin. With existing communities in Arkansas, California, Colorado, Illinois, Kansas, Minnesota and Ohio, Anthem now manages …
CINCINNATI — Blueprint Healthcare Real Estate Advisors has arranged the sale of a skilled nursing facility in Cincinnati. A local owner-operator looking to focus on other asset classes sold the property to another owner-operator. The price was not disclosed. The facility opened in 2013 featuring a large rehabilitation center and state-of-the-art aquatic therapy room, in addition to all-private resident rooms. Connor Doherty and Ryan Kelly led the Blueprint team.
ANN ARBOR, Mich. — Arrow Senior Living has assumed management of University Senior Living, expanding its Midwest reach. Located near the University of Michigan campus in Ann Arbor, University Senior Living features 63 assisted living units and 12 memory care apartments. Arrow Senior Living’s portfolio includes 37 communities, with several in development, across the Midwest. The addition of University Senior Living marks Arrow’s expansion into the Michigan market.
SAN ANTONIO — Blueprint Healthcare Real Estate Advisors has negotiated the sale of Franklin Park TPC Parkway, a 269-unit seniors housing community in San Antonio. The Class A community was constructed in two phases from 2011 to 2017. It offers independent living, assisted living and memory care services. Following the completion of the six-year freeway expansion that affected leasing, access to the community had dramatically improved at the time of marketing, according to Blueprint. The refreshed curb appeal provided an opportunity for an incoming investor to capitalize on existing move-in …
WICKLIFFE, Ohio — Phorcys Capital Partners, the investment advisor to Phorcys Senior Housing Recovery Fund LP, has acquired Prosper at Wickliffe, a 160-unit assisted living facility in Wickliffe, approximately 15 miles northeast of Cleveland. Phorcys made the purchase through a trustee-directed short sale for $13 million. Prosper Life Care will take over management of the property.
CHICAGO — Ziegler, a Chicago-based specialty investment bank, has acted as sell-side advisor to Retirement Housing Foundation (RHF) on the sale of its 15-community senior living portfolio. The properties are located across six states: California (seven communities), Florida (three), Missouri (two), Indiana (one), Kentucky (one) and South Carolina (one). The properties collectively sold for $180.5 million. The portfolio consisted of 3,200 market-rate independent living, 850 assisted living and memory care, and 563 skilled nursing beds. RHF is a California-based nonprofit organization. The portfolio represented the majority of RHF’s presence in …
DALLAS — CBRE has negotiated the sale of four senior housing communities in the Dallas MSA. The portfolio — rebranded as Village on the Park Plano, Village on the Park Denton, Village on the Park Stonebridge Ranch, and Village on the Park McKinney — comprises 366 units of assisted living and memory. The properties were all built between 2014 and 2017. The buyer is a joint venture between Artemis Real Estate Partners and Bridgewood Property Company. The Aspenwood Company, Bridgewood’s affiliate property manager, is operating the communities. The seller and …
MICHIGAN CITY and MERRILLVILLE, Ind. — Blueprint Healthcare Real Estate Advisors has arranged the sale of two communities in Indiana. The two assisted living and memory care communities are located in Michigan City and Merrillville, both located on the south shore of Lake Michigan southeast of Chicago. The portfolio totals 119 units. Blueprint positioned the portfolio as a value-add opportunity for an incoming buyer to capitalize on strong pre-pandemic financial performance along with substantial Medicaid Waiver reimbursement rate enhancements that were passed in July of 2023. The buyer, seller and price were …