NAPLES, Fla. — Senior living operator, developer and investor Distinctive Living has acquired ownership of Seascape at Naples, a community located in Naples, in a joint venture with an undisclosed global investment firm. Totaling 198 units, Seascape at Naples features independent living, assisted living and memory care residences. Amenities at the property, which Distinctive Living manages, include a heated pool, bistro, salon, spa, fitness center, outdoor courtyard and walking paths. According to the company, having partial ownership will allow Distinctive Living to fully integrate its proprietary operation solutions. “Seascape at Naples …
MANSFIELD, Texas — Sonida Senior Living has completed the acquisition of a 98-unit community located in Mansfield. Sonida purchased the property for $15.6 million, funding the transaction with cash on hand and proceeds from its senior secured revolving credit facility. Built in 2016, the property features 62 assisted living and 36 memory care residences and is situated directly across form a 294-bed hospital. Sonida plans to complete aesthetic improvements to common areas and amenity spaces over the next year. This acquisition brings Sonida’s total Texas portfolio to 21 properties.
CHICAGO — Blueprint has brokered the sale of a 469-bed skilled nursing portfolio located in Texas. The portfolio, which comprises five facilities, was 71 percent occupied at the time of sale. An established skilled nursing owner and operator acquired the portfolio for an undisclosed price. Amy Sitzman and Giancarlo Riso of Chicago-based Blueprint arranged the sale on behalf of the seller.
LOS ANGELES — Northmarq’s West Village and Los Angeles investment sales teams have completed the sale of a three-property portfolio totaling 579 units in Los Angeles and Orange counties. Included in the sale were The Piedmont, a 198-unit mixed-income luxury seniors community in the North Hollywood neighborhood of Los Angeles and Burbank Senior Artists’ Colony, a 141-unit property in Burbank. The Piedmont sold for $45 million, while Burbank Seniors Artists’ Colony sold for $31.5 million. The price of the third property, Coventry Court in the Orange County community of Tustin, …
LOUISVILLE and LEXINGTON, Ky. — DMK Development Group has sold four senior living properties for a total $65.3 million. American Healthcare REIT was the buyer. Located in the Louisville and Lexington metros, the portfolio totals 316 units, with assisted living and memory care residences. Each of the properties was opened between 2020 and 2022. Trilogy Health Services managed the properties through lease-up and stabilization.
BOSTON — Phoenix3 Holdings, a collection of boutique culinary and hospitality solutions companies, has announced that it is rebranding and transitioning to Phoenix3 Collective. The company operates dining and hospitality programs within the senior living sector. Additionally, Phoenix3 has acquired Quality Culinary Solutions (QCS), an advisory firm dedicated to transforming dining operations within self-operated seniors housing communities. Phoenix3’s full suite now includes seven brands — Innovative Hospitality Solutions, Centicor Procurement Services, CrossCheck Quality Assurance, Culinour, Infuse Hospitality, QCS and Restaura, a dining management company for seniors housing communities.
SANDY, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Mount Hood Senior Living, a vacant 44-unit assisted living and memory care community located in Sandy, roughly 30 miles southeast of Portland. Totaling 26,000 square feet, the property was updated in 2022. A local operator acquired the community, which it plans to reopen. Jason Punzel, Vince Viverito, Brad Goodsell, Jake Anderson and Taylor Graham of SLIB brokered the transaction.
CHICAGO — Investment management firm Harrison Street Asset Management has sold a portfolio of seniors housing communities located in the state of New York for more than $600 million. The buyer was not disclosed, but multiple media outlets report the buyer was senior living giant Ventas Inc. (NYSE: VTR). The portfolio comprises five communities. Harrison Street developed the properties in partnership with B2K Development between 2016 and 2022. Amenities at the communities include swimming pools, theaters, fitness centers, libraries and lifestyle programming. “This transaction exemplifies Harrison Street’s ability to produce value by …
HOOSICK FALLS, N.Y. — Senior Living Investment Brokerage (SLIB) has arranged the $7 million sale of Danfourth Adult Care Center, an assisted living community located in Hoosick, roughly 35 miles northeast of Albany. The facility totals 80 beds across 57 units. A New Jersy-based owner and operator acquired the property from an undisclosed seller. Dave Balow of SLIB brokered the transaction.
FOSTER CITY, Calif. — Artemis Real Estate Partners has acquired Atria at Foster Square, a 155-unit senior living community located in Foster City, roughly 20 miles southeast of San Francisco. Artemis purchased the property in partnership with the current operator, Atria Senior Living, which will continue to manage the community under its Atria Signature Collection brand. Built in 2016, the property was developed as part of a mixed-use master-plan town center. Amenities at the community include a theater, fitness center, activity and game rooms, a library, courtyard, physical therapy space and …