Acquisitions

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AcquisitionsAssisted LivingNewsPennsylvania

Decker Arranges Sale of 92-Unit Assisted Living Property in Pennsylvania

by Hayden Spiess

HAZLETON, Pa. — Decker Healthcare Group has arranged the sale of Laurels Senior Living Community, a 92-unit assisted living property located in Hazleton in Eastern Pennsylvania.  Built in 2003 and renovated in 2007, the community has been owned by the same family since opening. Bill Janis, Justin Valle, Jeff Rhodes and Cullen Nguyen of Decker brokered the transaction on behalf of the family ownership.  A Pennsylvania operator of assisted living and skilled nursing facilities acquired Laurels Senior Living Community for an undisclosed price. 

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AcquisitionsCompany NewsNews

Discovery Acquires Sunshine Retirement Living

by Hayden Spiess

BONITA SPRINGS, Fla. — Operator Discovery Senior Living has entered into a definitive agreement to acquire seniors housing management company Sunshine Retirement Living.  Discovery will obtain full ownership of the company, which will join Discovery’s family of management companies and will remain its own distinct company. Luis Serrano, president and co-founder, will continue to lead the company.  Founded in 2010 and based in Bend, Oregon, Sunshine manages a portfolio of 33 senior living communities totaling roughly 3,500 units. The communities comprise approximately 2,750 independent living units, 207 assisted living units and …

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Ansley-Court-Lawrenceville
AcquisitionsAssisted LivingGeorgiaMemory CareNews

Mainstay Acquires Two Georgia Communities

by Hayden Spiess

COLUMBUS and LAWRENCEVILLE, Ga. — Mainstay Financial has completed the acquisition of two senior living communities located in Georgia. Together, the properties total 78 units.  The acquisition, which closed at the end of September, includes Ansley Cove Columbus, a 30-unit memory care community in Columbus, and Ansley Court Lawrenceville, a 48-unit assisted living and memory care community located in Lawrenceville.  Mainstay Senior Living, the seniors housing operating company owned by Mainstay Financial, operates both communities.  Mike Garbers of Berkadia brokered the transaction. The seller and sales price were not disclosed. 

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AcquisitionsNews

Brookdale to Acquire 30 Communities From Welltower for $290M

by Hayden Spiess

BRENTWOOD, Tenn. — Brookdale Senior Living (NYSE: BKD) has entered into a definitive purchase agreement with Welltower Inc. for the acquisition of 30 communities. The purchase price is $290 million.  Brookdale currently occupies and operates the properties, which total 1,152 units, on a leased basis. The company expects that the transaction will reduce 2027 annual cash rent payments by approximately $17.8 million. The leases would have otherwise matured in 2032.  Contingent upon the closing of the 30-community acquisition, Brookdale plans to extend a separate, 39-community lease with Welltower. The lease would …

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The-Residence-Colvin-Run_Great-Falls-Va
AcquisitionsAssisted LivingMarylandMemory CareNewsVirginia

Cushman & Wakefield Brokers $89M Sale of Two-Property Portfolio in Maryland, Virginia

by Hayden Spiess

GREAT FALLS, Va. and QUEENSTOWN, Md. — Cushman & Wakefield has brokered the $89 million sale of a two-property seniors housing portfolio located in Maryland and Virginia. LTC Properties acquired the portfolio from Buvermo Investments, SHA Capital, Verity Commercial and INDIE.  Both assisted living and memory care communities, the properties include Queenstown Landing in Queenstown, Maryland, and The Residence at Colvin Run in Great Falls, Virginia. The communities were built in 2021 and 2022, respectively.  IntegraCare will continue to operate the properties on behalf of LTC.  Joshua Jandris, Brett Gardner, Robert …

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AcquisitionsCompany NewsNews

BDT & MSD to Acquire Sunrise Senior Living for $1B

by Hayden Spiess

MCLEAN, Va. — Funds affiliated with BDT & MSD Partners have entered into a definitive agreement to acquire operator Sunrise Senior Living. According to The Wall Street Journal, the acquisition price is $1 billion. PSP Investments is the seller.  The Sunrise senior leadership team, led by Jack Callison, the chief executive officer, will remain in place.  Founded roughly 45 years ago, Sunrise currently operates a portfolio of more than 230 communities throughout the U.S. and Canada, serving more than 22,000 residents. Headquartered in Virginia, Sunrise ranked as the sixth-largest seniors housing operator in …

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The-Preserve_Mentor-Ohio
AcquisitionsNewsOhio

Cardinal Senior Living Purchases Three Communities in Northeast Ohio

by Hayden Spiess

GREEN and MENTOR, Ohio — Cardinal Senior Living has completed the purchase of three communities in northeast Ohio. The acquisitions include two properties in Green and one in Mentor.  GreenView Senior Assisted Living and Brier Creek in Green, Ohio, total 99 and 134 units, respectively. Brier Creek is comprised fully of independent living units, and GreenView features assisted living and memory care residences. The Preserve in Mentor totals 48 units, with 23 memory care and 25 assisted living residences.  With the new acquisitions, Cardinal’s Ohio portfolio totals six communities.  “Ohio continues …

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AcquisitionsFloridaNew JerseyNews

Foundry, AEW Acquire Two Communities in Florida, New Jersey 

by Hayden Spiess

HARRINGTON PARK, N.J. and TAMPA, Fla. — Foundry Commercial, with institutional capital partner AEW, has acquired two senior living communities. The properties include Allegro Harrington Park roughly 20 miles north of New York City in Harrington Park, New Jersey, and Allegro Hyde Park, a community located in Tampa’s Hyde Park neighborhood. Allegro Living, Foundry Commercial’s wholly owned senior living management platform, operated the communities prior to the acquisition and will continue to serve as the operator.  Delivered in 2021, Allegro Harrington Park features 173 units and a full continuum of care. …

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AcquisitionsMichiganNews

Marcus & Millichap Brokers $7.3M Sale of Portfolio in Southern Michigan

by Hayden Spiess

COLDWATER and HILLSDALE, Mich. — Marcus & Millichap has brokered the $7.3 million sale of a three-campus seniors housing portfolio located in southern Michigan.  Totaling 100 beds, Drews Place is located in Hillsdale and Coldwater.  Jim Knapp of Marcus & Millichap arranged the sale on behalf of the undisclosed seller.  “The new owner sees Drews Place as an opportunity to grow their presence in the seniors housing sector,” says Knapp. “In rural and small-town markets, we continue to see opportunities for operators to fill gaps in seniors housing and care services …

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River Glen -St. Charles
AcquisitionsAssisted LivingIllinoisIndependent LivingMemory CareNews

Citrine Investment Group Sells 106-Unit Community in Metro Chicago

by Hayden Spiess

ST. CHARLES, Ill. — Citrine Investment Group has sold River Glen of St. Charles, a senior living community located in St. Charles, about 45 miles west of Chicago.  Citrine acquired the property, which totals 106 units, in January 2023. The community includes independent living, assisted living and memory care residences.  Under Citrine’s ownership, River Glen of St. Charles transitioned from an entrance-fee structure to a market-rate rental model. Citrine also invested in strategic capital improvements throughout the community.  “River Glen benefited from Citrine having the conviction to take on the entrance …

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