STEVENS POINT, Wis. — Marcus & Millichap has brokered the sale of Portage County Health Care Center, a skilled nursing and rehabilitation facility located in Stevens Point in central Wisconsin. An undisclosed buyer acquired the property for $2.7 million. Ray Giannini of The Giannini Group at Marcus & Millichap arranged the sale on behalf of the seller, Portage County. Situated on 16 acres, the facility comprises 81,562 square feet and 48 beds. The property was originally built in 1965 and expanded in 1985 and 1994.
JACKSONVILLE, Fla. — Berkadia has brokered the sale of a 130-unit seniors housing community located near Jacksonville. Built in 2015, the property offers independent living, assisted living and memory care. A Maryland-based private equity investment firm sold the community to an undisclosed buyer. Ross Sanders, Dave Fasano, Cody Tremper and Mike Garbers of Berkadia represented the seller in the transaction.
BLOOMINGTON and FRIDLEY, Minn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a seniors housing portfolio totaling 229 units in Minnesota. The portfolio includes Nine Mile Creek Senior Living in Bloomington and Willows Bend Senior Living in Fridley. Together, the buildings comprise 304,258 square feet and feature independent living, assisted living and memory care residences. A national REIT acquired the communities from a partnership of regional developers for an undisclosed price. Jake Anderson, Jason Punzel, Vince Viverito and Taylor Graham of SLIB brokered the transaction. “The Twin Cities …
NEW YORK CITY — Morgan Stanley Investment Management, through funds managed by Morgan Stanley Real Estate Investing (MSREI), and Foundry Commercial have completed the sale of a portfolio of 11 communities within the Spring Arbor Senior Living collection. An undisclosed buyer purchased the communities for $296 million. Located in Maryland and Virginia, the properties total 795 assisted living and memory care units. According to Morgan Stanley, the communities surpassed 90 percent occupancy in recent years. Foundry will continue to operate the properties through its affiliated Allegro Living platform. This marks the …
CLERMONT and TAVARES, Fla. — Foundry Commercial and Fortress Investment Group have acquired two senior living communities located in Central Florida. The acquisition was completed by Foundry Commercial and funds managed by affiliates of Fortress Investment Group. Totaling 252 assisted living and memory care units, the communities include Alto Clermont and Alto Tavares. Allegro Living, the affiliated management company of Foundry Commercial, manages the properties under its Alto brand. Alto Tavares was opened in 2012, and Alto Clermont opened in 2014. “We are pleased to continue our involvement with these two …
DARIEN and STAMFORD, Conn. — Harrison Street has acquired two seniors housing communities in southern Connecticut for an undisclosed price. The sellers were Virtus Real Estate Capital and LCB Senior Living. Together, the properties comprise 216 units and include The Residence at Selleck’s Woods in Darien and The Residence at Summer Street in Stamford. The Residence at Selleck’s Woods totals 102 independent living, assisted living and memory care units and was completed in 2019. Amenities at the community include a private theater, billiards room, salon, library, activity space and restaurant-style dining …
CLEVELAND, Ohio — Kiser Group has brokered the sale of a skilled nursing facility located east of Cleveland in Ohio. An undisclosed buyer acquired the property for $7 million. The seller is a family ownership group based in the Cleveland area. Originally constructed in 1950 and expanded through multiple additions between 1965 and 2001, the facility totals 84 beds. The property is situated on 26 acres and features 76 skilled nursing beds, five assisted living units and three independent living units. Mark Myers of Kiser Group arranged the sale. “This transaction …
MILLERSVILLE, Pa. — Burkentine Real Estate Group has acquired 67 acres in Millersville, with plans to develop a senior living community at the site. HHF Real Estate sold the land to Burkentine for $7.9 million. Upon completion, the development — Farmhouse Village — will feature 420 age-restricted rental homes, including a mix of townhomes and condominiums. Plans also include a 75-bed health care facility. Matt Wolf of The Kislak Co. arranged the land sale on behalf of the seller.
ARVADA, Colo. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Oberon House, a senior living community located in Arvada, roughly 10 miles northwest of downtown Denver. A Colorado-based owner and operator sold the property, which totals 60 units within a 47,217-square-foot building. The Oberon House was the seller’s only senior living property, and they sold the community in order to retire. Vince Viverito, Jason Punzel, Jake Anderson and Taylor Graham of SLIB brokered the transaction on behalf of the seller.
NEW YORK CITY — MonticelloAM, with firm affiliates, has provided $21.8 million in financing for two-facility skilled nursing portfolio located in South Carolina. The financing includes a $19.3 million bridge loan and $2.5 million in working capital. The undisclosed borrower will use the funds to acquire the two properties, which comprise more than 260 licensed beds. “This financing solution underscores our ability to provide essential liquidity that supports operational needs and workforce priorities,” says Kim Gordon, head of the working capital group at New York City-based MonticelloAM. “This flexibility enables skilled …