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 …
CONCORD, N.C. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 54-unit assisted living and memory care community in Concord, a northeastern suburb of Charlotte. Constructed in the late 1990s in a prominent location, Blueprint marketed the asset as a rare opportunity to acquire a performing, but not yet stable, community in an urban submarket of the high-barrier-to-entry, Certificate of Need state. The buyer was a newly formed joint venture between a Midwest-based investment group and Carolinas-based operator. The seller and price were not disclosed. Kyle Hallion, …
EAU CLAIRE, Wis. — Blueprint Healthcare Real Estate Advisors has arranged the sale of eight Dove Healthcare-owned seniors housing properties in Wisconsin. The portfolio totals 526 beds/units of skilled nursing and assisted living with regional concentration in and around Eau Claire. Five of the eight properties are located within an 11-mile radius and all within an approximate one-hour drive time. The portfolio consists of mostly five-star rated communities located in close proximity to all the major regional hospitals including HSHS Sacred Heart, Marshfield Clinic and Mayo Clinic-Eau Claire acute referral …
ASHLAND, Mass. — JLL Capital Markets has arranged the successful recapitalization transaction of the Residence at Valley Farm. LCB Senior Living will stay on as co-owner, while Blue Moon Capital Partners will replace Bridge Investment Group as the other owner. The price was not disclosed. The Residence at Valley Farm is located in Ashland, a wealthy bedroom community 25 miles west of Boston that provides access throughout the region via the commuter rail station in town and the nearby Massachusetts Turnpike (I-90). The three-story property is a Class A assisted …
WEST ORANGE, N.J. — Sherman & Roylance has negotiated the sale of the former Canterbury Village, a 44-unit, 53-bed assisted living community in the New York City suburb of West Orange. The buyer was a private senior living operator led by industry veterans Scott Burman and Lorne Schechter. The price was not disclosed. Canterbury Village closed its doors in mid-2023 and was owned by Provident Bank at the time of sale. George Bingham of Sherman & Roylance represented Provident in the transaction. Canterbury was operated previously as an affiliate of …
BETTENDORF, Iowa — Senior Living Investment Brokerage (SLIB) has arranged the sale of Iowa Masonic, a 79-bed skilled nursing facility and 40-unit independent living community in the Davenport suburb of Bettendorf. The seller was a local nonprofit that sought to sell in order to turn the business over to a company with experience that could ensure the long-term viability of the facility. The buyer was a private owner with additional communities in Iowa. The price was not disclosed. Ryan Saul and Nick Cacciabando of SLIB handled the transaction.
BALTIMORE — Continuum Advisors has arranged the sale of The Village at Augsburg, a 313-unit continuing care retirement community in Baltimore. The campus comprises 131 independent living apartments, 51 assisted living units and 131 licensed skilled nursing beds situated on approximately 50 acres. Jay Jordan and Dave Kliewer of Continuum Advisors represented Maryland-based National Lutheran Corp. in the sale of Augsburg to New Jersey-based Outcome Healthcare. The price was not disclosed. “NaLonal Lutheran affiliated with The Village at Augsburg prior to COVID-19 and put forward significant investment into the campus …
SLEEPY EYE and MAPLEWOOD, Minn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two seniors housing communities in Minnesota totaling 338 beds. The two campuses are named Sleepy Eye Care Center and Maplewood Care Center. Maplewood is an eastern suburb of Minneapolis, while Sleepy Eye is approximately 100 miles to the southwest. Sleepy Eye consists of 128 beds and was built in 1972 and 1986. The Maplewood campus consists of 149 beds and 61 units and was built in 1970 and 1995. The properties combined total 194,049 …
SAN BERNARDINO, Calif. — CareTrust REIT Inc. (NYSE: CTRE) has acquired The Villas at San Bernardino, a 78-unit assisted living and memory care facility located in the Inland Empire city of San Bernardino. In connection with its acquisition of the facility, CareTrust and a third-party regional healthcare real estate investor entered into a joint venture arrangement under which CareTrust provided a combined common equity and preferred equity investment amount totaling $10.7 million. CareTrust is the managing member of the joint venture entity. CareTrust’s initial contractual yield on its combined preferred …
BEACHWOOD, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Menorah Park, a sprawling seniors housing campus in the Cleveland suburb of Beachwood. Following an affiliation with a fellow nonprofit, Montefiore, in July 2020, the campus totaled 588 licensed skilled nursing beds, 288 assisted living and memory care units, and 193 independent living units. The seller was a nonprofit organization that has served Cleveland’s Jewish community since its founding in 1906. Facing challenges due to increased healthcare staffing and a shift in competitive landscapes, the board elected …