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Acquisitions

AcquisitionsAssisted LivingMinnesotaNews

SLIB Arranges Sale of 118-Unit The Pillars of Mankato in Minnesota

by Jeff Shaw

MANKATO, Minn. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of The Pillars of Mankato, a 118-unit seniors housing community in Mankato, approximately 75 miles southwest of Minneapolis. The community consists of 98 independent and assisted living units alongside 20 memory care units. It was built in 2019 and totals 146,138 square feet on approximately 3.9 acres of land. The undisclosed seller sought funding for continued investments in seniors housing. The buyer is an out-of-state private equity group that will be partnering with the in-place operator to run …

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AcquisitionsNewsOhioSkilled Nursing

Blueprint Brokers Sale of 180-Bed Crestview Rehabilitation in Lancaster, Ohio

by Jeff Shaw

LANCASTER, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Crestview Rehabilitation, a 180-bed skilled nursing facility in Lancaster, approximately 30 miles southeast of Columbus. The facility is a cornerstone in the Lancaster community for nearly five decades, according to Blueprint, but faced operational challenges exacerbated by the staffing and occupancy struggles that emerged during the pandemic. The buyer was an owner-operator seeking to capitalize on the Ohio Medicaid rate increase implemented in 2023. The seller and price were not disclosed. Connor Doherty and Ryan Kelly led …

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AcquisitionsAssisted LivingFloridaNews

Chicago Pacific Founders Acquires The Summit of Lakewood Ranch in Florida

by Jeff Shaw

LAKEWOOD RANCH, Fla. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired The Summit of Lakewood Ranch in Lakewood Ranch, approximately 40 miles south of Tampa. The community offers assisted living and memory care. CPF plans to make improvements to the campus. Grace Management will take over management of the property. The seller, price and number of units were not disclosed. Brett Gardner and the seniors housing team at Walker & Dunlop advised the seller on the transaction.

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AcquisitionsAffordable HousingAssisted LivingDevelopmentNewsWashington

Great Expectations Acquires Sagebrook Seniors Housing Property in Bellevue, Plans Affordable Housing Conversion

by Jeff Shaw

BELLEVUE, Wash. — Great Expectations LLC has purchased Sagebrook, a seniors assisted living and memory care community on 2.3 acres in the Seattle suburb of Bellevue, for $16.5 million. The buyer plans to convert the property into a 108-unit apartment community for residents of all ages. The new property, which will be rebranded, will offer housing for residents earning 60 percent to 80 percent of area median income. The community is located at 15750 NE 15th St. Dan Chhan, Tim McKay, Sam Wayne and Matt Kemper of Cushman & Wakefield …

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AcquisitionsFinanceNewsSkilled NursingVirginia

CFG Provides $19.8M Acquisition Loan for Skilled Nursing Facility in Virginia

by Jeff Shaw

VIRGINIA — Capital Funding Group (CFG) has provided a $19.8 million bridge-to-HUD loan to support the acquisition of a 120-bed skilled nursing facility in Virginia.  Loan proceeds represented 100 percent of the acquisition and closing costs. Further details were not disclosed. Andrew Jones originated the transaction for Capital Funding Group.

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AcquisitionsAssisted LivingNewsOregon

Foundry Commercial Acquires 126-Unit The Village at Keizer Ridge in Keizer, Oregon 

by Jeff Shaw

KEIZER, Ore. — Foundry Commercial has purchased The Village at Keizer Ridge, a seniors housing community in Keizer, a northern suburb of the state capital, Salem. With this acquisition, Foundry now owns 30 senior living communities totaling over 1,900 units and operates 57 senior living communities totaling over 3,800 units across the U.S. The Village at Keizer Ridge, which opened in 2016, offers 126 units of assisted living and memory care. Cascadia Senior Living, Foundry’s regional operating partner in the Pacific Northwest, will operate the community following the acquisition.  Foundry’s …

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AcquisitionsNewsWisconsin

Ziegler Negotiates Sale of 67-Unit Cedar Community Elkhart Lake in Wisconsin

by Jeff Shaw

ELKHART LAKE, Wis. — Ziegler has arranged the sale of Cedar Community Elkhart Lake, a 67-unit independent living and assisted living community in Elkhart Lake, approximately midway between Green Bay and Milwaukee. Ziegler advised the seller, local nonprofit Benevolent Corp. Cedar Community, in the transaction. The seller built the entry-fee community in 2008. The 13.3-acre property, located blocks from Elkhart Lake, includes a neighborhood of independent townhomes, a main assisted living apartment complex and a resident clubhouse. Matter Development acquired the property. Matter’s operating affiliate, Koru Health, will operate the …

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AcquisitionsAssisted LivingColoradoNews

ESI Arranges $31.5M Sale of Balfour at Littleton in Colorado

by Jeff Shaw

LITTLETON, Colo. — Evans Senior Investments (ESI) has arranged the sale of Balfour at Littleton, a seniors housing community in the Denver suburb of Littleton. United Properties sold the 86-unit assisted living and memory care community for $31.5 million, or $366,279 per unit.  Built in 2018, the trophy asset was 97 percent occupied. Over the past 12 months, the community consistently maintained an average occupancy of 95 percent, even with new supply coming into the market, according to ESI. The buyer was an investment group based in Ohio.

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AcquisitionsAssisted LivingNewsTexas

Blueprint Brokers Sale of 93-Unit Community in Preston Hollow Neighborhood of Dallas

by Jeff Shaw

DALLAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 93-unit assisted living and memory care community in the Preston Hollow area of Dallas. The seller was a national developer and investor looking to create an exit strategy in order to maximize value for more than a dozen geographically disparate, older-vintage communities. The communities were purchased in a sizeable portfolio transaction pre-COVID, under a value-add thesis contemplating operator transitions to create regional groupings coupled with the intent to meaningfully invest in renovations and repositioning. Unfortunately, according to …

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AcquisitionsCompany NewsNews

Transforming Age, Elder Care Alliance Complete Affiliation Agreement

by Jeff Shaw

BELLEVUE, Wash. — Transforming Age, a Bellevue-based nonprofit operator, has completed its affiliation with Elder Care Alliance (ECA).  By combining their expertise, the two organizations aim to strengthen and grow their mission impact and better address the evolving needs of older adults across the economic spectrum, according to Transforming Age. Transforming Age is one of the nation’s largest nonprofit senior living providers, serving more than 125,000 older adults by integrating housing, community services, technology, philanthropy and partnerships.  Guided by a similar set of values and rich culture, San Francisco Bay …

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