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Acquisitions

AcquisitionsAssisted LivingNewsSkilled NursingTexas

Blueprint Negotiates Sale of 78-Unit Community in Katy, Texas

by Jeff Shaw

KATY, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of an assisted living and skilled nursing facility in Katy, a suburb of Houston. Opened in 2018, the facility consists of 70 short-term rehab beds and 34 assisted living beds across 78 units. The community maintained a steady lease-up trajectory that was quickly halted due to industry-wide COVID headwinds that caused statewide decreases in elective surgeries. With a minimal amount of dually certified beds, the seller struggled to turn a profit, according to Blueprint. The seller was a …

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AcquisitionsNevadaNews

Bascom Ground Acquires Homestead at Boulder City in Nevada for $3M

by Jeff Shaw

BOULDER CITY, Nev. — The Bascom Group LLC has acquired Homestead at Boulder City, a seniors housing community in the Las Vegas suburb of Boulder City, for $3 million.  Homestead is a single-story building constructed in 1999. It features 72 units of seniors housing. Vincent Punzi and Lowell Takahashi of Berkadia arranged the debt financing for the acquisition, with Kairos Investment Management Co. as the lender. Brad Goodsell, Vince Viverito, Jason Punzel and Brad Clousing of Senior Living Investment Brokerage (SLIB) represented the undisclosed seller. Apartment Management Consultants will provide property …

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AcquisitionsNewsSkilled NursingTennessee

Blueprint Brokers Sale of 81-Bed Skilled Nursing Facility in Madisonville, Tennessee

by Jeff Shaw

MADISONVILLE, Tenn. — Blueprint Healthcare Real Estate Advisors has arranged the sale of an 81-bed skilled nursing facility in Madisonville, located between Knoxville and Chattanooga. The seller was The Trousdale Foundation, a nonprofit owner through Trousdale Living Communities. The buyer was a New York-based provider. Although the price was not disclosed, the per-bed price of $150,000 equates to approximately $12 million. Constructed in 1982, the asset is located on four acres approximately 10 miles south of Sweetwater Hospital. As the only licensed provider in the city, the high-quality facility generated …

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AcquisitionsNewsNorth DakotaWisconsin

Meridian Arranges Sale of Three-Property, 428-Unit Portfolio in Wisconsin, North Dakota 

by Jeff Shaw

WISCONSIN and NORTH DAKOTA — Meridian Capital Group’s senior housing and healthcare team has negotiated the sale of a three-property senior living portfolio in Wisconsin and North Dakota. The seller was Harrison Street. The buyer and price were not disclosed. New Perspective Senior Living will continue to operate the properties. The three assets offer a combined 146 independent living units, 139 assisted living units and 143 memory care bed. Ari Adlerstein, Josh Simpson and Jesse Rauch led the Meridian team.

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AcquisitionsAssisted LivingNewsTennessee

Blueprint Arranges Sale of Value-Add Community in Metro Memphis

by Jeff Shaw

MEMPHIS, Tenn. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a value-add assisted living community near Memphis. A national developer/investor engaged Blueprint to create an exit strategy in order to maximize value for more than a dozen geographically disparate, older-vintage communities. These communities were purchased in a sizeable portfolio transaction pre-COVID, under a value-add thesis contemplating operator transitions to create regional groupings coupled with the intent to meaningfully invest in renovations and repositioning. Unfortunately, the cumulative impact of COVID followed by an unprecedented rise in interest rates …

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AcquisitionsNewsTexas

Clearwater Living Acquires 220-Unit Community in Houston

by Jeff Shaw

HOUSTON — Clearwater Living has acquired The Watermark at Houston Heights, a 220-unit, Class A seniors housing community in Houston. The buyer has rebranded the community as Clearwater at The Heights. The seven-story property consists of 201 independent or assisted living residences and 19 memory care apartments. Floorplans include private studios and one- and two-bedroom layouts.

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AcquisitionsLouisianaNewsSkilled Nursing

ESI Negotiates Sale of Two Skilled Nursing Facilities in Louisiana

by Jeff Shaw

LAKE CHARLES, La. — Evans Senior Investments (ESI) has arranged a stock sale for a two-property skilled nursing portfolio in southwest Louisiana. The transaction was completed on behalf of an independent owner. Built in 1970 and 1972 and situated just 10 miles from one another in the Lake Charles area, the two communities comprise a total of 350 beds. Prior to the COVID outbreak, the portfolio maintained an average occupancy rate of 72 percent.  A few months into the pandemic, Hurricane Laura devastated the area, causing both communities to require …

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AcquisitionsAssisted LivingGeorgiaNews

SLIB Brokers Sale of 40-Unit Insignia of Newnan in Suburban Atlanta

by Jeff Shaw

NEWNAN, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Insignia of Newnan, a 40-unit assisted living community in Newnan, a suburb southwest of Atlanta. The community sits on 7.3 acres. Insignia Senior Living sold the asset to focus on it core geographic markets. The Buyer is a group of individual investors partnered with a Southeast-based provider. The price was not disclosed. Daniel Geraghty and Bradley Clousing handled the transaction for SLIB.

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