OHIO — Ziegler has acted as sell-side financial advisor to the sale of a portfolio located in Northern Ohio. The portfolio comprised three buildings consisting of 182 skilled nursing beds and 24 behavioral health beds. The seller is a leading nonprofit organization dedicated to providing affordable housing, healthcare and supportive services to various populations, including seniors, veterans and families in need. The portfolio represents the organization’s only healthcare properties in Ohio. The buyer is a privately held, for-profit owner and operator based in Englewood Cliffs, New Jersey, that intends to …
RALEIGH, N.C. — Solera Senior Living, a Denver-based operator, developer and investor of senior living communities across the U.S., has been named the operator of The Willows at Raleigh, an independent living community in Raleigh. Focus Healthcare Properties recently acquired the property. The Willows offers 143 independent living residences. It is located in a residential area with easy access to big-city amenities. Residents are near shopping and dining, as well as major attractions in the capital city: North Carolina State University, the NC State Fairgrounds, Millbrook, Wake Forest and Falls …
NEW BRAUNFELS, Texas — Berkadia has arranged the sale of The Blake at New Braunfels, a resort-style, 112-unit assisted living and memory care community in New Braunfels, a suburb of San Antonio. Berkadia Seniors Housing & Healthcare, led by Cody Tremper, Mike Garbers, Dave Fasano and Ross Sanders, closed the transaction on behalf of Biloxi, Mississippi-based LifeCare Properties, a wholly owned subsidiary of Comvest Properties. Scottsdale, Arizona-based Inspired Healthcare Capital was the buyer. The price was not disclosed. The Blake at New Braunfels is a new vintage, Class A community …
KNOXVILLE and MARYVILLE, Tenn. — Covenant Living Communities and Services and Presbyterian Homes of Tennessee, have closed on an affiliation with two communities in the metropolitan area of Knoxville. Shannondale of Knoxville, located in Knoxville, sits on 50 acres and offers independent living and assisted living comprising of 228 apartments, homes and duplexes. Shannondale of Maryville, 24 miles south of Knoxville, sits on 34 acres and offers independent living, assisted living and skilled nursing with 237 apartments, homes and duplexes. Under the agreement, the two communities are now affiliate members and …
MILTON, Penn. — The Prestige Group Realty Advisors has brokered the sale of Rockwell Center, a 220-bed assisted living community in Milton, a small borough in Central Pennsylvania. In the early 1980s, a local real estate entrepreneur born and raised in Milton purchased a former Milton high school and repositioned the property into a 220-bed assisted living facility. The building, being a former high school, was equipped with an auditorium with ample seating and a full stage. For over 40 years the facility was run by the founder and then …
RICHMOND, Va. — Berkadia has arranged the sale of a 77-unit assisted living and memory care community in Richmond. The seller was a publicly traded REIT. A private equity group acquired the property for an undisclosed price and has installed Commonwealth Senior Living as the operator. The new owner plans to implement a renovation plan, scheduled for completion in the first quarter of 2025. Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders led the Berkadia team.
STILLWATER, Minn. — JLL Capital Markets has arranged the sale and financing of Rivertown Commons, a 96-unit Section 8 affordable seniors housing community situated along the St. Croix River in Stillwater. The seven-story building totals 55,800 square feet. Josh Talberg and Doug Childers of JLL represented the seller, Dominium Management, and procured the buyer, an investment firm that specializes in affordable and workforce housing. The buyer plans to refresh the units and common areas in addition to extending the existing affordability restrictions. C.W. Early, Ken Dayton and Pat McMullen of …
COLUMBIA and MYRTLE BEACH, S.C. — Berkadia has arranged the sale of two assisted living and memory care communities in South Carolina. Berkadia Seniors Housing & Healthcare, led by Mike Garbers, Cody Tremper, Dave Fasano, and Ross Sanders, closed the 156-unit transaction on behalf of a publicly traded REIT. The properties, located in the Columbia and Myrtle Beach MSAs, were purchased by a regional owner-operator. The price was not disclosed.
HOUSTON, Miss. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Trace Extended Care, a 66-bed skilled nursing facility in Houston. Located in Chickasaw County, the property is 30 miles southwest of Tupelo and five miles north of the Natchez Trace Parkway. The seller is Sunlink Health Systems Inc. (NYSE: American SSY), which was looking to redeploy capital and focus on its core business. The buyer is a Mississippi-based group looking to add to its existing presence in Mississippi. Daniel Geraghty and Bradley Clousing handled the transaction for …
ALABAMA — Helios has structured the sale and acquisition financing of an assisted living and memory care community in Alabama. A Mississippi-based regional owner-operator, Veritas InCare, sold the asset to a local owner-operator. The price and other details were not disclosed. Despite the community’s strong performance, dislocation in the debt markets and low liquidity impacted the buyer’s ability to use its existing lending relationships to fund the purchase. Helios stepped in to assist the buyer and structured a financing package with a regional lender that recapitalized the buyer’s existing community …