BIRMINGHAM, Ala. — Harbert Management Corp. (HMC) has sold a portfolio of five senior living properties located across four states. The exact locations and property names were not disclosed. Amenities at the communities, which HMC acquired or developed between 2017 and 2023, include fitness centers, salons, swimming pools and restaurant-style dining. “We are proud to have built, developed and exited a portfolio of high-quality seniors housing properties that exemplifies our focus on geographic diversification across markets and high operational performance,” says Brian Landrum, senior managing director and co-fund manager for HMC’s …
MENLO PARK and SUNNYVALE, Calif. — Calson Management has sold two senior living communities located in California to Kalesta Healthcare. Kalesta acquired the properties for $24.3 million. The communities — Silver Oaks Memory Care and Crescent Oaks Memory Care — are located in Melo Park and Sunnyvale, respectively. Calson originally acquired the properties as value-add opportunities. Last year, Calson secured HUD financing for the properties. Grant Goodman, founder of G Capital, arranged the financing. Anita Zerounian of Hanson Bridgett represented the buyer in the acquisition. Kevin Kinigstein of Cox Castle represented …
LAS VEGAS — A joint venture between a fund managed by Clarion Partners and Stellar Senior Living has acquired San Martin Senior Living, a seniors housing community located in Las Vegas. The property, which will be renamed as The Grand at Southern Hills, comprises 174 units. Completed in two phases between 2008 and 2010, the community features 144 independent living and assisted living residences, with a separate, 30-unit memory care building. Amenities at the property include a clubhouse with a pub and bistro, theater, dog park and fitness center. Memory care …
LAKEVILLE, Minn. — Berkadia has arranged the sale and financing of The Pillars of Lakeville, a senior living community located in Lakeville, a suburb situated roughly 25 miles south of downtown Minneapolis. Totaling 100 units, the property features independent living, assisted living and memory care. Amenities at the community include a fitness center, wellness programs, heated underground parking, a salon and spa, game room and pickleball court. Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers of Berkadia represented the seller, a joint venture between Harrison Street Asset Management and Oppidan …
PALM COAST, Fla. — Continuum Advisors has arranged the sale of Tuscan Gardens of Palm Coast, an assisted living and memory care community located in Palm Coast. Totaling 130 units, the property features 86 assisted living and 22 memory care units, as well as 22 “enhanced assisted living” residences. The community was sold in receivership, with William King acting in the role of receiver. Jay Jordan and David Kliewer of Continuum led the court-approved sale process, which resulted in more than 15 written letters of intent and multiple rounds of bidding. …
PHILADLEPHIA — Cushman & Wakefield has brokered the sale of The Terrace at Chestnut Hill, a 108-unit assisted living and memory care community located in northwest Philadelphia. MVJ Ventures acquired the property from an undisclosed seller. Brett Gardner, Joshua Jandris and Jason Skalko of Cushman & Wakefield represented the seller in the transaction. Jason Stroiman and Brendan DeSilva of Evans Senior Investments represented the buyer. Originally built in 1987, The Terrace at Chestnut Hill was renovated in 2012. Viva Senior Living will operate the community, which was 85 percent occupied at …
ATLANTA — Thrive Senior Living has acquired three newly built communities in Georgia. Located in Cochran, Thomson and Jesup, the properties are operated under the At Home Senior Living brand. According to Thrive, the communities were 94 percent occupied at the time of acquisition. The Sawyer family developed the communities between 2019 and 2022. In 2024, Thrive partnered with the ownership on a third-party-management basis. Prior to the partnership, Shanna Dupree led operations for At Home Senior Living. Dupree has now joined Atlanta-based Thrive as director of operations. SRP Federal Credit …
MONUMENT, Colo. — Inland Real Estate Acquisitions has completed the acquisition of Jackson Creek Senior Living, a luxury seniors housing community located in Monument, roughly 20 miles north of Colorado Springs. Built in 2017 and situated within a master-planned development, Jackson Creek totals 132 units, with 27 independent living, 75 assisted living and 30 memory care residences. Amenities at the community include a bistro, library, fitness center, salon, theater, complimentary transportation and 24-hour concierge service. According to Inland, Jackson Creek averaged an occupancy level of 96 percent over the past year. …
INDIAN LAND, S.C. and MATTHEWS, N.C. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a two-property portfolio situated in the Charlotte metro. The portfolio includes Ambriant at Avondale in Indian Land, South Carolina, and Ambriant at Austin Village in Matthews, North Carolina. Ambriant at Avondale comprises 122 independent living units. Ambriant at Austin Village totals 80 independent living units, with one main building and seven duplex cottages. Both communities were developed in 2021. Bradley Clousing and Daniel Geraghty of SLIB brokered the transaction on behalf of the seller, …
PARKER, Colo. — Health Wave Partners has acquired MorningStar Senior Living of Parker, a seniors housing campus located in the Denver submarket of Parker. Totaling 191 units, the property offers a full continuum of care. MorningStar opened the first building at the campus in 2012, expanding the property in 2014 and 2016. The campus was fully occupied at the time of acquisition. “MorningStar of Parker exemplifies the type of high-quality, institutionally operated assets we seek to own,” says Philip Kayden, chief investment officer at Health Wave Partners. “We are excited to …