Acquisitions

The-Commons-on-Thornton_Stockton-Calif
AcquisitionsAssisted LivingCaliforniaMemory CareNews

MBK Senior Living Sells Two California Communities Totaling 198 Units

by Hayden Spiess

MANTECA and STOCKTON, Calif. — MBK Senior Living has sold two communities totaling 198 units in California.  Located in Manteca and Stockton, the portfolio includes The Commons at Union Ranch and The Commons on Thornton. Clarion Partners acquired the communities for an undisclosed price.  Built in 2004, The Commons on Thornton features 100 assisted living and memory care units. The property was 94 percent occupied at the time of sale. The Commons at Union Ranch was built in 2008 and comprises 98 assisted living and memory care units. The community was …

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The-Grand-Spokane
AcquisitionsNewsWashington

Clarion Acquires 137-Unit Luxury Community in Spokane

by Hayden Spiess

SPOKANE, Wash. — Clarion Partners has acquired The Grand at Spokane, a 137-unit luxury senior living community located in Spokane.  Delivered in 2024 by developer NexCore Group, the property features independent living, assisted living and memory care.  Stellar Senior Living, the in-place operator, will continue to manage the community on behalf of Clarion.  “The Grand at Spokane exemplifies the type of asset we seek on behalf of our investors — new construction, located in a supply-constrained market, and operated by a best-in-class partner with a proven track record,” says Julie Robinson, …

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Georgia-South-Carolina-Portfolio
AcquisitionsAssisted LivingIllinoisMemory CareNews

SLIB Arranges Sale of 13-Property Portfolio in Georgia, South Carolina

by Hayden Spiess

WHEATON, Ill. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a senior living portfolio totaling 13 properties in Georgia and South Carolina. Built between 1989 and 2014, the communities total 672 units, with 492 assisted living units and 180 memory care units.  SLIB represented the undisclosed seller in the transaction A Southeast-based operator acquired the portfolio for an undisclosed price. The buyer plans to implement a repositioning strategy to stabilize the assets.  Brad Clousing, Dan Geraghty and Jeff Binder of SLIB negotiated the transaction. 

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AcquisitionsNews

Harbert Management Corp. Sells Five-Property Portfolio 

by Hayden Spiess

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 …

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AcquisitionsCaliforniaMemory CareNews

Calson Sells Two California Communities to Kalesta Healthcare for $24.3M

by Hayden Spiess

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 …

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San-Martin-Senior-Living_Las-Vegas
AcquisitionsNevadaNews

Clarion, Stellar Senior Living Acquire 174-Unit Community in Las Vegas

by Hayden Spiess

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 …

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AcquisitionsFinanceMinnesotaNews

Berkadia Arranges Sale, Financing of 100-Unit Property in Minneapolis Suburb

by Hayden Spiess

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 …

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Tuscan Gardens of Palm Coast
AcquisitionsAssisted LivingFloridaMemory CareNews

Continuum Arranges Sale of 130-Unit Community in Northeast Florida

by Hayden Spiess

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.  …

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Terrace-at-Chestnut-Hill_Philadelphia
AcquisitionsAssisted LivingMemory CareNewsPennsylvania

Cushman & Wakefield Brokers Sale of 108-Unit Assisted Living, Memory Care Community in Philadelphia

by Hayden Spiess

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 …

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AcquisitionsGeorgiaNews

Thrive Senior Living Acquires Three Communities in Georgia

by Hayden Spiess

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 …

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