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Acquisitions

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AcquisitionsActive AdultAffordable HousingMarylandNews

Northern Liberties, Equity Resource Investments Acquire Arbor Crest in Silver Spring, Maryland

by Hayden Spiess

SILVER SPRING, Md. — Northern Liberties and Equity Resource Investments have acquired Arbor Crest, an affordable housing active adult community located in Silver Spring.  Built in 2004, the property totals 80 units for residents age 62 and older.  Units are reserved for residents earning between 45 and 70 percent of the area median income. As part of the acquisition, Northern Liberties has entered into an agreement with Montgomery County through its payment in lieu of taxes (PILOT) program. All county property taxes will be abated for 20 years in exchange for …

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AcquisitionsGeorgiaNewsSkilled Nursing

SLIB Brokers Sale of 439-Bed Skilled Nursing Portfolio in Metro Atlanta

by Hayden Spiess

ATLANTA — Senior Living Investment Brokerage has brokered the sale of a skilled nursing portfolio in metro Atlanta.  The portfolio includes two properties totaling 439 beds.  Daniel Geraghty and Bradley Clousing of SLIB arranged the transaction on behalf of the seller, a Northeast-based owner. An undisclosed owner and operator was the buyer. 

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AcquisitionsAssisted LivingFinanceIndependent LivingMemory CareNewsOregon

BMO Healthcare Provides $41M Acquisition Financing for Community Near Portland, Oregon

by Hayden Spiess

SHERWOOD, Ore. — BMO Healthcare’s Real Estate Finance group has provided a $41 million loan for the acquisition of The Ackerly at Sherwood, a senior living community located in Sherwood, roughly 15 miles southwest of Portland. A joint venture between an institutional investor and Merrill Gardens is the borrower. Merrill Gardens will manage and operate the property.  The Ackerly at Sherwood totals 130 units with independent living, assisted living and memory care residences.  Based in Seattle, Merrill Gardens manages more than 60 seniors housing communities across 20 states. 

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James Callister
AcquisitionsCaliforniaIdahoNewsOregonSkilled NursingWashington

CareTrust REIT Acquires $146M Skilled Nursing Portfolio

by Hayden Spiess

SAN CLEMENTE, Calif. — CareTrust REIT and a joint venture partner have acquired a portfolio of skilled nursing facilities in the Pacific Northwest for $146 million.  Comprising 911 licensed beds across 10 properties, the portfolio is located in Idaho, Oregon and Washington. The two existing tenants will continue to occupy the facilities on new, 15-year triple-net leases with extended options and annual escalators.  California-based CareTrust provided common equity and preferred equity investments totaling $141 million at closing using cash on hand and a draw from the company’s revolving credit line.  This …

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AcquisitionsNewsNorth CarolinaSkilled Nursing

SLIB Brokers Sale of 74-Bed Portfolio in North Carolina

by Hayden Spiess

WAKE COUNTRY, N.C. — Senior Living Investment Brokerage (SLIB) has brokered the sale of a portfolio located in Wake County.  A regional owner sold the portfolio, which totals 75 beds. At the time of sale, the seller was eliminating assisted living options at the properties, skilled nursing facilities.  A national operator acquired the portfolio for an undisclosed price. Patrick Burke, Toby Siefert and Jason Punzel of SLIB represented the seller in the transaction.  

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AcquisitionsAssisted LivingIndependent LivingMemory CareNewsOregon

Merrill Gardens Adds Three Communities in Metro Portland, Oregon

by Hayden Spiess

PORTLAND, Ore. — Merrill Gardens, a senior living owner and operator, has added three communities to its Oregon portfolio.  Located in metro Portland, the properties include Merrill Gardens at Cedar Mill, Merrill Gardens at Sherwood and Merrill Gardens at Hillsboro. Merrill Gardens acquired the communities as part of a joint venture with PGIM.  An ownership group led by Rembold sold the Cedar Mill and Sherwood properties. Built in 2016, Merrill Gardens at Cedar Mill in Portland totals 163,975 square feet with 147 independent living, assisted living and memory care units.  Merrill …

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AcquisitionsAssisted LivingKentuckyNews

Blueprint Brokers Sale of 49-Unit Assisted Living Community in Richmond, Kentucky

by Hayden Spiess

RICHMOND, Ky. — Blueprint has brokered the sale of a 49-unit assisted living community located in Richmond, roughly 35 miles southeast of Lexington.  A Midwest-based private equity group acquired the property, which was built in 2009, for an undisclosed price. A New York-based owner and operator was the seller.  Kyle Hallion, Connor Doherty and Ryan Kelly of Blueprint arranged the transaction. 

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AcquisitionsAssisted LivingCaliforniaMemory CareNewsSkilled Nursing

Marcus & Millichap Brokers $34.5M Sale of Two Properties in Los Alamitos, California

by Hayden Spiess

LOS ALAMITOS, Calif. — Marcus & Millichap has brokered the $34.5 million all-cash sale of two senior living properties located in Los Alamitos.  The properties include Alamitos West Health & Rehabilitation Center, a 142-bed skilled nursing facility and Katella Senior Living, a 73-unit, 77-bed assisted living and memory care community. International Equity Partners was the buyer.  Nick Stahler, Michael Mooney and Hap Knowles of Marcus & Millichap represented the undisclosed seller in the transaction. Stahler procured the buyer. Tony Solomon is Marcus & Millichap’s broker of record in California. 

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CountryHouse-Agemark
AcquisitionsMemory CareNebraskaNews

NHI Acquires Six-Property Agemark Portfolio in Nebraska for $63.5M

by Hayden Spiess

MURFREESBORO, Tenn. — Tennessee-based National Health Investors Inc. (NHI) has acquired a portfolio of six Agemark memory care communities located in Nebraska for $63.5 million.  The seller, Agemark Senior Living, will continue to operate the properties, which total 205 units, on a 15-year master lease with two five-year renewal options.   “Agemark is an innovative leader in providing exceptional personalized care to memory care residents and we have long admired their commitment,” says Eric Mendelsohn, president and CEO of NHI. “That is why we are thrilled to announce our new partnership today, …

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AcquisitionsAssisted LivingFloridaIndependent LivingMemory CareNews

SantaFe Healthcare Sells 100-Acre Senior Living Property in Gainesville, Florida

by Hayden Spiess

GAINESVILLE, Fla. — Continuum Advisors has arranged the sale of The Village at Gainesville, a 639-unit seniors housing community in Gainesville. SantaFe Healthcare Inc. sold the 100-acre asset to funds managed by Fortress Investment Group for an undisclosed price. The Village at Gainesville consists of nine residential buildings — six independent living, one assisted living and two memory care — and several community clubhouses with amenities. Eighty percent of the residences are dedicated to independent living. Continuum states that the property is considered one of the largest seniors housing rental communities …

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