Acquisitions

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Distinctive Living Acquires Lexor Living Brand, Hires Founder Shelley Esden as Chief Operating Officer

by Jeff Shaw

FREEHOLD, N.J. — Distinctive Living, a Freehold-based senior living management and development company, has hired Shelley Esden as executive vice president and chief operating officer.  Esden brings a wealth of industry experience including her role as founder and CEO of Lexor Living and her 15-year tenure at Sonata Senior Living, where she advanced from senior vice president of operations to COO and ultimately CEO.  With Esden’s appointment, Distinctive also acquires Lexor Living, bolstering the company’s offerings in the luxury senior living category. Distinctive Living currently operates 46 communities and has …

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AcquisitionsNews

ESI Arranges Sale of Five-Property Portfolio in the Southwest

by Jeff Shaw

DENVER — Evans Senior Investments (ESI), a Denver-based brokerage firm, has arranged the sale of a five-property seniors housing portfolio in the Southwest.  The portfolio comprises a mix of skilled nursing beds and seniors housing units. The transaction was carried out on behalf of a regional owner-operator. The current operator agreed to merge with a new operator and collaboratively buy the assets. The specific names and locations were not disclosed, nor was the price.

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AcquisitionsAssisted LivingNewsOhio

Confluent Senior Living Sells 110-Unit Community in Beavercreek, Ohio

by Jeff Shaw

BEAVERCREEK, Ohio — Ziegler has advised Confluent Senior Living on the sale of a 110-unit assisted living and memory care community in Beavercreek, a suburb of Dayton. Confluent Senior Living is a subsidiary of Confluent Development, which is a full-service real estate investment and development firm. Community First Solutions purchased the community for an undisclosed price and took over operations. Community First is a nonprofit health and human services organization.

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AcquisitionsAssisted LivingNewsUtah

SLIB Brokers Sale of 106-Unit Truewood Taylorsville in Utah

by Jeff Shaw

TAYLORSVILLE, Utah — Senior Living Investment Brokerage (SLIB) has arranged the sale of Truewood Taylorsville, a 106-unit assisted living facility with 112 licensed beds in Taylorsville, just south of Salt Lake City. Truewood Taylorsville was built in 1975 and renovated in 1995 and 1996. The community totals 68,970 square feet on approximately four acres. The seller is a REIT divesting to focus on core markets within its portfolio. The buyer is a private owner growing its portfolio in Utah. The price was not disclosed The buyer intends to expand the …

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AcquisitionsAssisted LivingFloridaNewsSouth Carolina

Sonida Acquires Eight-Asset Portfolio in Florida, South Carolina for $103M

by Jeff Shaw

FLORIDA and SOUTH CAROLINA — Sonida Senior Living Inc. (NYSE: SNDA), a Dallas-based owner, operator and investor, has agreed to acquire eight senior living communities in northern Florida and South Carolina. Totaling 555 units of assisted living and memory care, Sonida will pay $103 million for the portfolio. The seller was not disclosed. “With this planned acquisition, Sonida will further broaden its high-quality and regionally focused real estate portfolio with newer vintage communities in mid-to-large metropolitan areas with favorable growth prospects,” says Brandon Ribar, president and CEO. The eight communities …

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AcquisitionsArizonaAssisted LivingNews

Joint Venture Acquires 108-Unit MorningStar at Arcadia in Phoenix

by Jeff Shaw

PHOENIX — A joint venture between Sabal Investment Holdings, 12 North Capital LLC and affiliates of MorningStar Senior Living has acquired MorningStar at Arcadia in the Biltmore neighborhood of Phoenix. The property consists of 78 assisted living suites across studio, one-bedroom, and two-bedroom floorplans as well as 30 memory care suites. The community was purchased in a special situation transaction via auction facilitated through a federal receivership. The venture is planning a targeted capital expenditure program at the asset to facilitate a series of enhancements aimed at improving resident experience, …

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AcquisitionsCCRCMinnesotaNews

Blueprint Brokers Sale of 389-Unit Saint Therese of New Hope in Minnesota

by Jeff Shaw

NEW HOPE, Minn. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Saint Therese of New Hope, a continuing care retirement community in New Hope, a suburb northwest of Minneapolis. The seller is Saint Therese, a Minnesota-based nonprofit that originally built the community. The campus originally opened to the community in 1967. Starting in 1979, the property underwent extensive senior living expansion and renovation projects over the years.  The community features 221 independent and assisted living units and 168 licensed skilled nursing beds, totaling 389 seniors housing and …

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AcquisitionsAssisted LivingNewsOperationsVirginia

Impact Senior Living Takes Over Operations of Carriage Hill Retirement in Bedford, Virginia

by Jeff Shaw

BEDFORD, Va. — Impact Senior Living, an affiliated SRI Management company, has taken over operations of Carriage Hill Retirement in Bedford, located between Lynchburg and Roanoke approximately 150 miles west of Richmond. Set on over 15 acres offering views of the Blue Ridge Parkway, Carriage Hill Retirement specializes in assisted living and memory care. The number of units was not disclosed.

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AcquisitionsAssisted LivingKentuckyNews

SLIB Negotiates Sale of Four-Property Portfolio in Henderson, Kentucky

by Jeff Shaw

HENDERSON, Ky. — Senior Living Investment Brokerage (SLIB) has arranged the sale of four assisted living and independent living communities in Henderson, just across the Ohio River from Evansville, Indiana. The communities offer a combined 120 assisted living units and 38 independent living units. They were built in 2000, 2014, 2017 and 2019. The seller was a local owner-operator that developed and operated these assets since their inception. The buyer is a Kentucky-based owner-operator looking to grow its portfolio strategically in Western Kentucky. The price was not disclosed. Ryan Saul …

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AcquisitionsGeorgiaNewsOperations

Thrive Takes Over Management of Three Communities in Georgia

by Jeff Shaw

COCHRAN, JESUP and THOMSON, Ga. — Thrive Senior Living has taken over operations at three senior living communities in the state of Georgia, located in Cochran, Jesup and Thomson.  A Georgia-based family owns the properties, which are all under the At Home Senior Living brand.  “Communities in smaller towns like Cochran, Jesup, and Thomson exude the classic Southern charm that makes them feel like home,” says Sebby Kannukkaden, Thrive president and CFO. “However, they often miss out on valuable opportunities given their size and location. Our goal with these communities …

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