Acquisitions

AcquisitionsIndustry Voices

The Acquisition Window of Opportunity Is Open — But Not for Long

by Jeff Shaw

By Clay Decker The landscape of the real estate industry has been fraught with many challenges over the last several years. From the strain of high interest rates and construction costs to the tightening grip of financial market conditions, many developers have found themselves navigating treacherous waters.  Yet, while some have struggled to traverse the complexities of the market, others have found opportunities by leveraging their adaptability and foresight. Let’s explore the current market dynamics and outline strategies for real estate professionals to capitalize on the window of opportunity in …

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Fox Knoll Village in Aurora, Illinois
AcquisitionsIllinoisNews

Prime Healthcare Agrees to Acquire 14 Ascension Healthcare Properties in Metro Chicago, Plans $250M in Improvements

by Jeff Shaw

CHICAGO — Prime Healthcare has agreed to acquire nine hospitals and associated physician practices in Illinois, as well as five post-acute and senior living facilities, from St. Louis-based Ascension. The properties are largely located in Chicago and its surrounding suburbs. The transaction is expected to close in the first quarter of 2025, subject to standard regulatory and canonical approvals, as Ascension is a Catholic health system. The price was not disclosed. The acquisition includes the following Ascension hospitals: Prime Healthcare also acquired multiple post-acute and senior living facilities operated by …

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AcquisitionsNewsPennsylvaniaSkilled Nursing

ESI Brokers the Sale of 118-Bed Beacon Ridge in Indiana, Pennsylvania

by Jeff Shaw

INDIANA, Pa. — Evans Senior Investments (ESI) has arranged the sale of Beacon Ridge, a skilled nursing community in the small borough of Indiana, approximately 50 miels east of Pittsburgh. Beacon Ridge opened its doors in the 1970s and has since completed two major renovation projects. The community is licensed for 118 skilled nursing beds and offers a unit mix, including private units, semi-private units, and three-bed wards. At the time of marketing,  Beacon Ridge was 63% occupied and operating with a negative net operating income at the time of …

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AcquisitionsIllinoisNews

SLIB Negotiates Sale of 188-Unit Willow Falls in Crest Hill, Illinois

by Jeff Shaw

CREST HILL, Ill. ­— Senior Living Investment Brokerage has arranged the sale of Willow Falls, a seniors housing community in Crest Hill, approximately 35 miles southwest of downtown Chicago. The Class A, newer construction asset features 76 units of independent living, 81 units of assisted living and 31 units of memory care on approximately 2.5 acres.  The seller was a Midwest-based institutional capital provider. The buyer is a Midwest-based owner-operator looking to strategically add to its existing footprint throughout the Midwest. The price was not disclosed. Ryan Saul and Bradley …

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AcquisitionsMichiganNews

Walker & Dunlop Brokers Sale of Three-Property Portfolio in Michigan

by Jeff Shaw

OAKLAND COUNTY, Mich. — Walker and Dunlop Investment Sales (WDIS) has arranged the sale of Blossom Village, Blossom Ridge and Blossom Springs, a senior living portfolio located in Oakland County, approximately 35 miles northwest of Detroit.  This portfolio encompasses a total of 245 luxury villas, independent living, assisted living and memory care units. The Moceri family sold the assets to StoryPoint Group for an undisclosed price. Built in 2019 by the Moceri family, the portfolio is now known as the Flourish Collection by StoryPoint Group and will be added to …

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AcquisitionsAssisted LivingNewsWashington

Zett Group Arranges Sale of 60-Unit Community in Central Washington State

by Jeff Shaw

WASHINGTON — The Zett Group, led by Blake Bozett, has arranged the sale of a 60-unit assisted living and memory care community in Central Washington.  The seller was an owner-operator that ran the community for 33 years. A Seattle-based owner-operator acquired the property for an undisclosed price in an all-cash deal. Randi Nathanson and Parisa Zarelli of Lane Powell PC helped navigate the complexities of the transaction.

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AcquisitionsAffordable HousingMinnesotaNews

Standard Communities Acquires Rivertown Commons Affordable Community in Stillwater, Minnesota for $27.8M

by Jeff Shaw

STILLWATER, Minn. — Standard Communities has made its first investment in Minnesota, acquiring Rivertown Commons, a 96-unit affordable seniors housing community in Stillwater.  The transaction is capitalized at $27.8 million.  Stillwater is located along the St. Croix River separating Minnesota from Wisconsin, just east of the Twin Cities area. Standard completed the acquisition in partnership with the Washington County Community Development Agency and the Minnesota Housing Finance Agency (MHFA). Huntington Bank provided the tax credit equity. Standard will preserve and extend the affordability of Rivertown Commons, with resident income restricted to …

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AcquisitionsNevadaNews

SLIB Brokers Sale of 122-Unit Sterling Ridge Living in Las Vegas 

by Jeff Shaw

LAS VEGAS — Senior Living Investment Brokerage (SLIB) has arranged the sale of Sterling Ridge Living, a 122-unit independent living, assisted living and memory care facility in Las Vegas, Nevada.  The community was built in 1974 and was most recently renovated in 2023. The community totals 89,719 square feet on 2.37 acres.  The community offers 22 independent living units, 74 assisted living units 26 memory care units totaling 152 beds. The seller is a private equity firm that sought to exit its fund and the senior living industry. The buyer …

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AcquisitionsAssisted LivingIdahoNews

Zett Group Negotiates Sale of 79-Unit Streamside in Nampa, Idaho

by Jeff Shaw

NAMPA, Idaho — The Zett Group, led by Blake Bozett, has arranged the sale of Streamside Assisted Living and Memory Care in Nampa, approximately 20 miles west of Boise.  The property features 79 total units. A regional owner-operator based out of Oregon sold the asset to a national owner-operator from California looking to expand its footprint in the state Idaho. The price was not disclosed.

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Madison at Oviedo
AcquisitionsAssisted LivingFloridaNews

Atlas Senior Living Acquires Three Communities in Metro Orlando

by Jeff Shaw

CLERMONT, OCOEE and OVIEDO, Fla. — Atlas Senior Living and affiliate company Salta Capital have acquired three senior living communities in the Orlando suburbs of Clermont, Ocoee and Oviedo.  The communities, which offer assisted living and memory care services, have consistently maintained high occupancy rates, according to Atlas. Atlas and Salta plan to implement a $1.5 million renovation plan across the properties. These capital improvements aim to enhance the living standards and amenities.

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