Acquisitions

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Titan Development Sells Three Seniors Housing Communities in Florida

by Hayden Spiess

THE VILLAGES and WINTER PARK, Fla. — Titan Development has sold a portfolio of three seniors housing communities located in The Villages and Winter Park.  The properties included in the portfolio — which totals 416 units — are Watercrest Buena Vista, Watercrest Spanish Springs and Watercrest Winter Park. JLL Capital Markets brokered the sale on behalf of Titan. AEW Capital Management acquired the portfolio for an undisclosed price.  Watercrest Buena Vista and Watercrest Spanish Springs are located in The Villages, a master-planned community roughly 45 miles northwest of Orlando. Built in 2018, …

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Inland Acquires 635-Unit Senior Living Portfolio

by Hayden Spiess

OAK BROOK, Ill. — An affiliate of Inland Real Estate Acquisitions has acquired a 635-unit senior living portfolio. The portfolio comprises three newly constructed Clarendale communities — Clarendale of Chandler in Chandler, Arizona; Clarendale of St. Peters in St. Peters, Missouri; and Clarendale at Indian Lake in Hendersonville, Tennessee.  Amenities at the properties, which feature independent living, assisted living and memory care residences, include swimming pools, wellness centers, full-service salons, entertainment, dining and access to outpatient services and 24-hour security.  The portfolio’s average occupancy was 92 percent at the time of …

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Sonida Acquires Seniors Housing Community in Cincinnati for $16.3M 

by Hayden Spiess

CINCINNATI — Sonida Senior Living has acquired a seniors housing community in Cincinnati for $16.3 million. Development of the property was completed in 2021, however the community did not open, due to construction finance foreclosure.  Totaling 82 units, the community will offer 50 assisted living and 32 memory care residences. The property is situated adjacent to Sonida’s existing Wellington at North Bend Crossing community, which features 121 senior living units. Together, the properties will comprise a 203-unit, two-community campus offering a continuum of care.  Sonida funded the acquisition with $18.3 million …

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SLIB Arranges Sale of 131-Unit Seniors Housing Community in Spokane, Washington

by Hayden Spiess

SPOKANE, Wash. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Moran Vista Senior Living, a 131-unit seniors housing community located in Spokane.  Originally built in 1997 and renovated and expanded in 2008, the property features independent living, assisted living and memory care residences.  A regional owner-operator acquired the community from a Pacific Northwest-based seller. The buyer’s portfolio comprises roughly 20 properties throughout Washington and Arizona.  Jason Punzel of SLIB brokered the transaction. 

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AcquisitionsIllinoisIndependent LivingMemory CareNewsSkilled Nursing

Continuum Brokers $42M Sale of Senior Living Community in Metro Chicago

by Hayden Spiess

BARTLETT, Ill. — Continuum Advisors has brokered the $42 million sale of The Oaks at Bartlett, a senior living community located in Bartlett, roughly 35 miles northwest of downtown Chicago.  Built in 2007, the property totals 283 units, with 10 cottages, 154 independent living apartments, 16 memory care units and 54 skilled nursing units.  Michael Flanagan of Flanagan & Associates served as the receiver for the property, which recently defaulted on its bond obligations. Certus Living has operated the community since the default.  David Kliewer and Jay Jordan of Continuum arranged …

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Harrison Street Sells 1,186-Unit Seniors Housing Portfolio to Morgan Stanley 

by Hayden Spiess

CHICAGO — Investment management firm Harrison Street has sold a 1,186-unit seniors housing portfolio to Morgan Stanley Real Estate Investing (MSREI), the private real estate investment arm of Morgan Stanley Investment Management.  Originally acquired by Harrison Street in a joint venture partnership with Brightview Senior Living in 2014, the portfolio comprises eight communities located in the Baltimore, Philadelphia and Boston-Providence metros.  Jay Wagner, Rick Swartz, Aaron Rosenzweig, Tim Hosmer and Sean Kirk of JLL National Seniors Housing Capital Markets brokered the sale on behalf of Harrison Street. Allison Holland and Alex …

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SLIB Brokers $11M Sale of Skilled Nursing Facility Portfolio in Metro Pittsburgh

by Hayden Spiess

PITTSBURGH, Pa. — Senior Living Investment Brokerage (SLIB) has brokered the $11 million sale of a skilled nursing facility portfolio located in Pennsylvania. Situated primarily within metro Pittsburgh, the portfolio comprises 299 beds across five properties. Originally built between 1964 and 1992, the portfolio was first marketed in fall 2023.  Ryan Saul and Toby Siefert of SLIB represented the seller, Guardian Healthcare, in the transaction. According to SLIB, Guardian Healthcare is currently in bankruptcy proceedings, and the properties had struggled financially prior to the sale.  A regional owner-operator was the buyer. 

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IRA Capital Acquires Seniors Housing Community in Metro Denver for $40M

by Hayden Spiess

LOVELAND, Colo. — IRA Capital has acquired Capstone at Centerra, a seniors housing community located in Loveland, for $40 million.  The community is situated within the 3,000-acre Centerra master-planned development, roughly 50 miles north of Denver.  Developed in 2023 by Hunt Midwest, the property totals 102 units, with 56 assisted living apartments and 46 memory care residences. The community was 95 percent occupied at the time of acquisition.  The property features proximity to healthcare facilities including UCHealth Medical Center of the Rockies and Banner McKee Medical Center, which are roughly one …

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SLIB Brokers Sale of 174,194 SF Seniors Housing Portfolio in Northwest Pennsylvania

by Hayden Spiess

WHEATON, Ill. — Senior Living Investment Brokerage (SLIB) has brokered the sale of a seniors housing portfolio totaling 174,194 square feet in northwest Pennsylvania.  Built between 1958 and 2017, the portfolio comprises 315 units across five properties, including independent living, personal care and skilled nursing facility residences.  The portfolio was in receivership at the time of sale. An affiliate of the existing operator acquired the property for an undisclosed price.  Ryan Saul and Toby Siefert of Illinois-based SLIB represented the receiver in the transaction. 

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