ST. LOUIS — Lutheran Senior Services (LSS), a nonprofit provider of care, services and senior living for older adults in Missouri and Illinois, has agreed to acquire St. Louis Home Health (SLHH) for an undisclosed price. LSS, which already provides home health services among its offerings, cited the SLHH’s orthopedic expertise as a key reason for the acquisition, as well as its extended footprint in Illinois. The transaction is expected to close at the end of this month.
FORT WAYNE, Ind. — Ziegler, as exclusive financial advisor to Marquee Capital (formerly Berengaria Development), has arranged the sale of BrightStar Senior Living Fort Wayne. The community offers 41 units of assisted living and memory care in Fort Wayne. Marquee Capital developed the property, which BrightStar Senior Living has operated since it opened in 2018. The 3.25-acre asset is located in the Pine Valley neighborhood, eight miles north of downtown Fort Wayne. Lutheran Life Villages (LLV) purchased the property and took over operations. LLV is a local, faith-based, nonprofit organization …
The Dec. 7 webinar “What Will 2024 Hold for Seniors Housing Investment & Acquisition Activity?” covered where the industry stands now and how experts are preparing to succeed in 2024. Webinar panelists listed factors like interest rates, wages, insurance costs, inflation, margin compression, resident move-ins and bank short sales as market indicators for the health of seniors housing. Learn their outlook and forecasts for what the industry may face in the new year. The speakers covered transaction activity, cap rate trends, capital availability and pricing, as well as the …
SAN ANTONIO — JLL Capital Markets has arranged the sale of Franklin Park Alamo Heights, a seniors housing community in San Antonio. The transaction involves Artemis Real Estate Partners taking over as equity partner from Harrison Street, while retaining Franklin Park as part owner in the joint venture. JLL also placed the acquisition financing with a Freddie Mac loan for the buyer. Neither the price nor the amount of the financing were disclosed. Franklin Park Alamo Heights features 117 independent living units, 64 assisted living units and 40 memory care …
AURORA, Colo. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Renew Saddle Rock Memory Care in Aurora, approximately 20 miles southeast of Denver. The asset features 40 units and 52 beds and was built in 2015. The property totals 38,585 square feet on approximately 4.7 acres of land. The seller was an out-of-state private equity group with a third-party operator divesting the asset to exit the senior living space. The buyer was an experienced Denver-based owner-operator looking to grow its portfolio. The price was not disclosed. Vince …
MOUNT PROSPECT, Ill. — Standard Communities has led a public-private partnership in acquiring Huntington Towers, an affordable seniors housing community in Mount Prospect, approximately 20 miles northwest of Chicago. The community totals 214 units, and the acquisition will preserve its affordability for 30 years. The total capitalization of the transaction is approximately $74.9 million, including $16.1 million for planned renovations. Standard completed the acquisition in partnership with the Illinois Housing Development Authority and the U.S. Department of Housing and Urban Development. The property was originally built in 1978. Renovations at …
WARRENTON, EASTMAN, GLEN EAGLE and SPARTA, Ga. — Selectis Health Inc. (OTC: GBCS) has agreed to sell the company’s four owned and operated skilled nursing facilities in Georgia. The agreements provide for the sale of the Company’s Warrenton Healthcare & Rehabilitation, Eastman Healthcare & Rehabilitation, Glen Eagle Nursing and Rehabilitation and Providence of Sparta Healthcare & Rehabilitation facilities, for an aggregate consideration of $31 million. All four properties are located in rural markets in Middle Georgia. The Warrenton property features 110 beds, the Eastman 100 beds, Glen Eagle 101 beds …
INDIANAPOLIS — Blueprint Healthcare Real Estate Advisors has arranged the sale of two assisted living communities in Indianapolis. Both assets were built in the late 1990s. Further details on the properties were not disclosed. Bloom Senior Living acquired the communities and plans to reposition them as the premier affordable options in Indianapolis by utilizing the Indiana Assisted Living Waiver Program. The seller and price were not disclosed. Ryan Kelly, Connor Doherty, Amy Sitzman and Giancarlo Riso led the Blueprint team.
FOOTVILLE, Wis. — Senior Living Investment Brokerage has negotiated the sale of a 73-unit community in Footville, a village of fewer than 1,000 residents located approximately midway between Madison and Rockford, Illinois. The community-based residential facility (CBRF) was built in 2009. If totals 56,912 square feet on approximately seven acres of land. The seller was a group of local real estate owners seeking to retire from the industry. The buyer was an experienced local operator that partnered with an out-of-state equity group. This is the ninth community added to the …
ST. PAUL, Minn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Alton, a 65-unit memory care community in St. Paul. The community was built in 2008. It totals 52,516 square feet on approximately 0.88 acres of land. The seller was a multifamily owner/developer looking to focus on its market-rate portfolio. The buyer was an experienced home health operator in the Minnesota market looking to grow its presence in traditional senior living real estate investments. The price was not disclosed. Jason Punzel, Jake Anderson, Brad Goodsell and …