MEMPHIS, Tenn. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a vacant assisted living community in Memphis. Blueprint’s behavioral healthcare team advised the seller on obtaining special zoning entitlements to seek a buyer looking to convert the property into a behavioral healthcare facility. The buyer originally planned to implement capital improvements and license the building as a substance abuse facility. However, during escrow, Blueprint was approached by an adolescent mental healthcare provider, expressing strong interest in leasing and operating the property. Blueprint introduced the buyer to the …
WOODSTOCK, Ga. — Oaks Senior Living has taken over management services for Camellia Place in Woodstock, a suburb north of Atlanta. The 96-unit community offers assisted living, memory care and respite care.
PORTLAND, Ore. — Ziegler, as exclusive financial advisor to the seller, has arranged the acquisition of Parkview Christian Retirement Community in Portland. Founded by members of the Columbia Baptist churches, the nonprofit Oregon Baptist Retirement Home Society opened its doors in 1944. The community expanded several times over the next 40 years. In 1987, the organization moved to its current location in northeast Portland and expanded again 10 years later. Today, the campus consists of 115 rental independent living apartments and 62 assisted living units spread over approximately six acres …
COLUMBIA, MO., and HOUSTON — CareTrust REIT Inc. (NYSE: CTRE) has acquired three skilled nursing facilities for approximately $55.6 million, inclusive of transaction costs. The portfolio, consisting of 210 skilled nursing beds and 24 assisted living units, will be added to CareTrust’s existing master lease with affiliates of PACS Group Inc., which has been operating the facilities for a third-party landlord. Two of the facilities are located in Houston and one is located in Columbia. The acquisition increases annual rent under the existing PACS master lease by approximately $5 million. …
ATCHISON, Kan. — The Ensign Group Inc. (Nasdaq: ENSG) has acquired the real estate and operations of Atchison Senior Village Rehabilitation and Nursing Center, a 45-bed skilled nursing facility located in Atchison, located along the Missouri river approximately 45 miles northwest of Kansas City. The real estate was acquired by a subsidiary of Standard Bearer Healthcare REIT Inc., Ensign’s captive real estate company. Gateway Healthcare, Ensign’s Kansas-based subsidiary, will handle operations. In a separate transaction on the same day, Ensign announced that its affiliates acquired the operations of Park Post …
LAKE WORTH, Fla. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 110-unit assisted living and memory care community in the Palm Beach-area city of Lake Worth. The property, which was not named, was sold as a value-add opportunity despite being Class A and opened in 2019. While the community never stabilized, it did experience positive momentum in 2022 and early 2023 and was around breakeven at launch despite supply pressure in the submarket, according to Blueprint. A national developer/investor sold the asset to Capital Senior Ventures …
DOVER, Del. — Evans Senior Investments (ESI) has arranged the sale of Courtland Manor, a skilled nursing community in Dover. An independent owner-operator sold the asset for $10 million, or $142,857 per bed. The buyer was a New York-based owner-operator. Since its inception in 1986, Courtland Manor has been under the ownership and operation of the seller. It features 70 licensed beds and a five-star CMS rating. Courtland Manor has historically maintained high occupancy rates, boasting figures in the high 80 percent range prior to COVID-19. Despite the challenges posed …
KENNESAW, Ga. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Kennesaw Place, a 37-unit assisted living and memory care community in the Atlanta suburb of Kennesaw. Blueprint marketed the opportunity alongside 16 seniors communities located throughout the Southeast, Midwest and Mid-Atlantic. Details on the buyer, seller and price were not disclosed. Kyle Hallion, Amy Sitzman and Giancarlo Riso led the Blueprint team.
TEXAS — Sherman & Roylance has negotiated the sale of a 104-bed skilled nursing facility in Texas. A physician owner sold the asset to a California-based buyer for $8.1 million. Sherman & Roylance also arranged acquisition financing. The facility was built in 2018 and features 94 Medicare and 10 Medicaid beds. Further details were not disclosed.
PEACHTREE CITY, Ga. — CBRE has arranged the sale of Arbor Terrace Peachtree City, a 146-unit independent living and assisted living community in Peachtree City, a suburb south of Atlanta. The CBRE National Senior Housing investment sales team of John Sweeny, Aron Will and Garrett Sacco led the transaction for the undisclosed seller. GEM Realty Capital purchased the asset for an undisclosed price. Will and Michael Cregan also arranged the acquisition loan via CBRE’s Freddie Mac Optigo lending platform.