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Acquisitions

AcquisitionsNewsOhio

Continuum Advisors Brokers Sale of 120-Unit The Weils in Chagrin Falls, Ohio

by Jeff Shaw

CHAGRIN FALLS, Ohio — Continuum Advisors has arranged for the sale of The Weils, a 120-unit assisted living, memory care and skilled nursing community in Chagrin Falls, an eastern suburb of Cleveland. Built in phases between 2002 and 2015, the community consists of 75 assisted living units, 18 memory care units and 27 skilled nursing units. The community sits on a 45-acre site and includes excess acreage for future expansion.  Through the marketing of the campus for sale, the community featured occupancy around 85 percent. Cleveland-area based non-profit Eliza Jennings …

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AcquisitionsAssisted LivingCaliforniaNews

SLIB Arranges Sale of 77-Unit Villas at San Bernardino in California

by Jeff Shaw

SAN BERNARDINO, Calif. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Villas at San Bernardino, a 77-unit assisted living and memory care community in California’s Inland Empire. Built in 2003, the property totals 43,197 square feet on 1.35 acres of land. This was the seller’s only remaining seniors asset, as it plans to exit the industry. The buyer was an in-state owner-operator looking to grow its footprint in California. The price was not disclosed. Jason Punzel, Brad Goodsell, Vince Viverito and Jake Anderson of SLIB handled the …

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AcquisitionsAssisted LivingFloridaNews

SLIB Negotiates Sale of 173-Unit Portfolio in Florida

by Jeff Shaw

SPRING HILL, FORT MYERS, NICEVILLE and TALLAHASSEE, Fla. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of four assisted living communities totaling 173 units in Florida. The properties are located in the municipalities of Spring Hill, Fort Myers, Niceville, and Tallahassee. A seniors housing REIT sold the assets to an operator expanding in Florida. The price was not disclosed. Bradley Clousing and Daniel Geraghty of SLIB handled the transaction.

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Jason Smeck Lument Seniors Housing Borrowing
AcquisitionsAffordable HousingContent PartnersFeaturesFinanceIndustry ContentInvestment

FHA, Agency Financing Still Beat Banks for Seniors Housing Borrowers

by Sarah Daniels

     Seniors housing acquisition and development is a costly business these days. Inflation has increased the price of construction materials, and wage pressures are driving up personnel costs. And after nearly two years of interest rate hikes to slow inflation, debt service on short-term construction and bridge loans is straining borrowers’ budgets and potentially threatening their ability to qualify for take-out financing when their properties reach stabilization. That is, if they can even source a long-term mortgage from increasingly risk-averse regional banks distracted by today’s market volatility, says Jason …

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AcquisitionsCCRCIllinoisNews

Continuum Advisors Arranges Sale of Friendship Village of Schaumburg in Illinois

by Jeff Shaw

SCHAUMBURG, Ill. — Continuum Advisors has arranged the sale of Friendship Village of Schaumburg, the largest senior living campus in Illinois.  Spanning over 60 acres in the affluent Chicago suburb of Schaumburg, approximately 30 miles northwest of downtown Chicago, Friendship Village offers 818 units/beds across a full continuum of care. The property was sold through a court-directed bankruptcy process, with a cash purchase price of approximately $35.6 million, plus other cash contributions including to former residents. The community offers 512 independent living apartments, 28 garden homes, 85 assisted living units, …

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AcquisitionsNewsOklahomaSkilled Nursing

ESI Brokers Sale of 95-Bed Skilled Nursing Community in Oklahoma

by Jeff Shaw

OKLAHOMA — Evans Senior Investments (ESI) has arranged the sale of a 95-bed skilled nursing community on behalf of a private owner-operator. The facility is located 85 miles south of Oklahoma City. The buyer was a private investor from the West Coast that has a long history of skilled nursing operations and property ownership. Subsequently, the new owner enlisted an operator from the surrounding area that aims to expand its footprint within the state of Oklahoma. Further details were not disclosed.

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AcquisitionsIllinoisNewsSkilled Nursing

SLIB Negotiates Sale of 491-Bed Skilled Nursing Portfolio in Metro Chicago

by Jeff Shaw

CHICAGO — Senior Living Investment Brokerage (SLIB) has arranged the sale of three skilled nursing properties in metro Chicago totaling 491 beds. The communities are the premier nursing homes in the area and include CMS 5-Star ratings and JCAHO accreditation, according to SLIB. The seller was a privately owned, family-run company that was looking to exit the skilled nursing space. After COVID and the evolution of the industry it became clear to the seller that this portfolio would thrive better with a new owner that had more communities with more …

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AcquisitionsFinanceMinnesotaNews

JLL Arranges Acquisition Financing for 321-Unit Portfolio in Metro Minneapolis

by Jeff Shaw

MINNEAPOLIS, PLYMOUTH and EDINA, Minn. — JLL Capital Markets it arranged the acquisition financing for three independent living, assisted living and memory care communities in the greater Minneapolis-St. Paul metro. JLL represented the borrower, an affiliate of The Inland Real Estate Group of Companies. The Waters Senior Living will continue to manage the communities for Inland and this transaction expands their relationship to four communities together. The portfolio comprises The Waters of Edina in Edina, The Waters of Plymouth in Plymouth and The Waters on 50th in Minneapolis. The three properties …

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AcquisitionsNewsTexas

ESI Arranges the Sale of a 119-Bed Crystal Creek at Preston Hollow in Dallas

by Jeff Shaw

DALLAS — Evans Senior Investments (ESI) has arranged the sale of Crystal Creek at Preston Hollow. Built in 2001 with a 2018 renovation, Crystal Creek is located just north of downtown Dallas. The community features 119 beds, offering a range of care levels, including assisted living, memory care and long-term care. At the time of marketing, occupancy in both the senior living and skilled nursing was rapidly declining. Due to the skilled nursing component not being licensed to accept Medicaid, the community experienced negative operating margins. A regional owner-operator sold …

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AcquisitionsAssisted LivingNewsSouth Carolina

SLIB Negotiates Sale of 128-Unit Portfolio in South Carolina

by Jeff Shaw

SUMTER, CENTRAL and GREENWOOD, S.C. — Senior Living Investment Brokerage (SLIB) has arranged the sale of three assisted living communities in South Carolina. The properties are located in the cities of Sumter, Central and Greenwood. They total a combined 128 units. The seller was a seniors housing and healthcare real estate investment trust (REIT). The buyer was a Florida-based seniors housing operator with a regional presence in South Carolina. The price was not disclosed. Bradley Clousing and Daniel Geraghty of SLIB handled the transaction.

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