FORT WORTH, Texas — Sagora Senior Living, a Fort Worth-based operator, has taken over management of 17 senior living communities across Alabama, Florida, Nebraska, Oklahoma and Texas. Sagora expands its footprint in Vero Beach, Florida with the addition of two new communities: Heron Cove Assisted Living and Memory Care and Heron Point Independent Living. Both communities are located less than 10 miles from The Brennity of Vero Beach, another Sagora community. Sagora also recently opened Lynridge of Huntsville Assisted Living and Memory Care, expanding the operator’s Lynridge brand to a …
SHARPSBURG, Ga. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Magnolia of Sharpsburg, a 70-unit assisted living and memory care community in Sharpsburg, a suburb south of Atlanta. The community was built in 2021. A group of EB-5 investors sold the property to a Midwest-based developer for an undisclosed price. This was their first acquisition in Georgia. Daniel Geraghty and Bradley Clousing handled the transaction for SLIB.
SAN MARCOS, Texas — JLL Capital Markets has arranged the sale of Sage Spring Senior Living, a community in San Marcos, located between Austin and San Antonio. JLL represented the seller, a joint venture between Bow River Capital and Investcor, and procured the buyer, Inspired Healthcare Capital. The price was not disclosed. Sage Spring Senior Living is a 90-unit assisted living and memory care community that opened in December 2020 and was stabilized at time of sale. San Marcos is one of the fastest growing cities in the nation with …
OKLAHOMA — Blueprint Healthcare Real Estate Advisors has negotiated the sale of seven skilled nursing facilities in Eastern Oklahoma. The seller was Birchwood Healthcare Partners, a Chicago-based private investor and owner-operator. A Missouri-based operator acquired the assets for an undisclosed price. The portfolio comprises 561 total licensed skilled nursing beds. The regionally clustered portfolio also benefited from the recent Medicaid rate increases and steady census rebounds, according to Blueprint. As part of the marketing, Blueprint cited attractive assumable HUD debt on select facilities, proof of concept and improved performance tracking …
ATLANTA and MARIETTA, Ga. — Berkadia has arranged the sale of two assisted living and memory care communities in the Atlanta metropolitan area. The portfolio totals 146 units in Atlanta and the suburb ofMarietta. The seller was a publicly traded REIT. A regional owner-operator acquired the assets for an undisclosed price. Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders led the Berkadia team.
GRAND JUNCTION, Colo. — Ziegler has acted as exclusive financial advisor to Bethesda Senior Living on the sale of an assisted living community located in Grand Junction, near the Utah border. Bethesda Senior Living is a faith-based, nonprofit operator of over 20 communities spanning the Midwest and West regions. Cornerstone Management purchased the community in conjunction with a private real estate fund and took over operations. The price was not disclosed.
CHICAGO — Senior Living Investment Brokerage has arranged the sale of a 188-unit independent living, assisted living and memory care community in a southern submarket of Chicago. The seller was a Midwest-based institutional capital provider. The buyer was a Midwest-based owner-operator looking to strategically expand its existing footprint throughout the Midwest. Further details were not disclosed. Brad Clousing, Daniel Geraghty, and Ryan Saul led the transaction for SLIB.
SAN JOSE, Calif. — Community Preservation Partners (CPP) has purchased Corinthian House, an affordable seniors housing property in San Jose. CPP’s total development investment is approximately $38 million, which includes the purchase price of $21 million and an estimated per-unit renovation cost of $85,000. Built in 1982, Corinthian House comprises two elevator-served, three-story buildings on 1.7 acres. Located at 250 Budd Ave., the 102-unit property offers studio and one-bedroom layouts designated for seniors age 62 and older earning between 30 and 60 percent of the area median income. Planned renovations …
SHREWSBURY, Mass. — Evans Senior Investments (ESI) has arranged the sale of the Shrewsbury Campus, a continuing care retirement community (CCRC) in Shrewsbury, a suburb of Worcester. Shrewsbury Campus was built in phases between 1969 and 1986. The community comprises Southgate at Shrewsbury for private-pay senior living, Shrewsbury Nursing & Rehabilitation for skilled nursing and a group of medical office buildings named Shrewsbury Medical Center. Southgate at Shrewsbury and Shrewsbury Nursing & Rehabilitation offer a combined total of 171 independent living units, 60 assisted living units and 99 skilled nursing …
FREEHOLD, N.J. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Mattison Crossing at Manalapan Avenue, a 160-unit assisted living and memory care community in Freehold, approximately 50 miles south of New York City. Mattison Crossing features 199 beds.. The community’s performance was stabilized during the marketing period with opportunities for future growth, according to SLIB. The seller was a partnership between Stephanie Anderson and Steve Walling (SilverStone HCRE) and a private equity group located in the West. The buyer was a publicly traded REIT with an established …