OCEANSIDE, N.Y. — Sunrise Senior Living has acquired a development site situated on Long Island in Oceanside for $7.5 million. Kelly Koukou of Lee & Associates represented Sunrise in the acquisition. Marlon Matza of Strategic Realty Advisors represented the sellers, Grossman Nurseries and Breslin Development. The parties originally signed a purchase contract in 2017, but entitlement complications delayed the closing of the acquisition. Sunrise plans to develop a 77,400-square-foot assisted living and memory care community on the property. Upon completion, the community will feature 84 units. A construction timeline was not …
SAN DIEGO COUNTY, Calif. — The Knapp-Stahler Group of Marcus & Millichap has brokered the sale of a memory care campus located in San Diego County. Developed in 2002, the property comprises seven buildings, with more than 55 units licensed for over 85 residents. The community was operating with negative net operating income (NOI) at the time of sale. An undisclosed, all-cash buyer acquired the community for roughly $170,000 per unit. A publicly traded REIT was the seller. Nick Stahler, Justin Knapp, Michael Mooney and Hap Knowles of The Knapp-Stahler Group …
WELLINGTON, Fla. — Health Wave Partners has acquired Alamar Senior Living, a 134-unit assisted living and memory care community in Wellington. The property was 96 percent occupied at the time of sale. AgeWell Senior Living will continue to manage the property on behalf of Health Wave. Amenities at the community include a fitness center, movie theater, beauty salon, bistro, billiards room, dog park and secure memory care courtyard. An improvement program was recently implemented at the property, including renovations to resident units, common areas, furnishings and outdoor amenities. “Alamar is an …
INDIANAPOLIS — Gardant Management Solutions has acquired a community totaling roughly 100 units in Indianapolis. The campus features more than 80 assisted living apartments and more than 20 memory care units. Ryan Saul, Dan Geraghty and Bradley Clousing of Senior Living Investment Brokerage arranged the transaction on behalf of the seller.
WESTLAKE VILLAGE, Calif. — LTC Properties has acquired two communities located in Colorado and New Mexico for a combined purchase price of $73 million. Harbert Management Corp. was the seller. Berkadia brokered the sale of the properties, MorningStar of Albuquerque in New Mexico and MorningStar of Wheat Ridge in Denver. The communities total 69 units and 64 units, respectively, with assisted living and memory care. MorningStar Senior Living will continue to manage the properties on behalf of the new ownership. LTC will own the communities as a senior housing operating portfolio …
SEVIEVILLE, Tenn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a skilled nursing community located in Sevieville near the foothills of the Great Smoky Mountains. The facility is situated on 9 acres and totals 98 beds. According to SLIB, the seller, a Tennessee-based non-profit, received 18 offers for the property. Ryan Saul and Patrick Burke brokered the transaction.
PAOLI, Pa. — Berkadia has brokered the sale of Daylesford Crossing, a 78-unit assisted living and memory care community located 25 miles west of Philadelphia in the suburb of Paoli. Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers of Berkadia Seniors Housing & Healthcare negotiated the transaction on behalf of the seller, Boston-based investment firm AEW Capital Management. Berkadia also originated an $18 million bridge loan on behalf of the buyer, a joint venture between an Atlanta-based entity that will serve as the general partner and an institutional limited partner. …
LEAGUE CITY, Texas — Town Lane and Arcole Partners have acquired Grand Living at Tuscan Lakes, a seniors housing community located in League City, approximately 25 miles southeast of Houston. Bow River Capital and Ryan Cos. developed and sold the property, which totals 186 units. Opened in 2023, the community features independent living, assisted living and memory care. Amenities at the property include multiple dining venues, a 150-seat theater, spa, fitness center, library and lounge, swimming pool and hot tub. Ross Sanders, Dave Fasano, Cody Tremper and Mike Garbers of Berkadia …
CHICAGO — Blueprint has brokered the sale of an affordable seniors housing community located in metro Chicago. Developed in the mid-2000s, the assisted living property operates under the Illinois Supportive Living Program. A Chicago-based owner and operator acquired the property for an undisclosed price. Connor Doherty and Ryan Kelly of Blueprint advised the seller in the transaction.
CHICAGO and PHILADELPHIA — A joint venture between Bain Capital and Capitol Senior Housing has sold a 344-unit senior living portfolio located in the Chicago and Philadelphia metros. The portfolio comprises two properties near Philadelphia and two properties located in the North Shore suburbs near Chicago. Jay Wagner, Rick Swartz, Aaron Rosenzweig and Jim Dooley of JLL Capital Markets represented the seller in the transaction. The buyer was not disclosed.