Tuesday, November 26, 2024
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Acquisitions

AcquisitionsDevelopmentFeaturesNews

Acquisitions Make More Sense Than Development in Today’s Market, Says Benchmark CEO Tom Grape

by Jeff Shaw

The dearth of new supply in the seniors housing space is a double-edged sword, says Tom Grape, founder, chairman and CEO of regional operator Benchmark Senior Living. While the lack of new product has provided a much-needed lift to operators of existing communities seeking to boost occupancy, it’s also a missed opportunity for developers chomping at the bit to start new projects.  The year-over-year (YOY) inventory growth in seniors housing was 1.3 percent in the third quarter, nearly the smallest YOY growth since 2012, according to NIC MAP. Grape foresees …

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AcquisitionsIndianaNewsOhio

SLIB Negotiates Sale of Five-Community Portfolio in Ohio, Indiana

by Jeff Shaw

OHIO and INDIANA — Senior Living Investment Brokerage (SLIB) has arranged the sale of a five-property portfolio located in Ohio and Indiana. The five communities total 400 units and were built between 1983 and 2001.  The Ohio communities are all located within 250 miles of each other, and the Indiana communities are located within 75 miles of each other. The portfolio is well maintained and underwent significant capex over the last few years, according to SLIB. The seller was a Northeast-based private REIT that divested the portfolio to focus on …

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AcquisitionsNewsWashington

Blueprint Brokers Sale of Community in Bremerton, Washington

by Jeff Shaw

BREMERTON, Wash. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a seniors housing asset in Bremerton, across the Puget Sound from Seattle. The seller was a national healthcare REIT. Further details on the property were not disclosed. The existing asset was identified as an ideal candidate for either a behavioral healthcare provider, based on strong demand and reimbursement in the state, or a strategic regional seniors housing operator that had economies of scale in the region. Ultimately, a regional seniors housing operator, which Blueprint has worked with …

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AcquisitionsAssisted LivingGeorgiaNews

SLIB Arranges Sale of Two Communities in Georgia

by Jeff Shaw

JEFFERSON and NORCROSS, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two assisted living and memory care communities in Georgia. The two communities are located approximately 50 miles from each other in Jefferson and Norcross, both northeast of Atlanta. Bradley Clousing and Daniel Geraghty led the transaction for SLIB. The buyer, seller, price and names of the communities were not disclosed.

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AcquisitionsCaliforniaNewsSkilled Nursing

Ziegler Negotiates $35.6M Sale of Eskaton Skilled Nursing Portfolio in Metro Sacramento

by Jeff Shaw

SACRAMENTO, FAIR OAKS and CARMICHAEL, Calif. — Ziegler has acted as exclusive financial advisor to Eskaton Properties Inc. on the sale of a skilled nursing portfolio in the greater Sacramento area.  The 391-bed portfolio consists of Eskaton Care Center Fair Oaks, Eskaton Care Center Greenhaven and Eskaton Care Center Manzanita. The communities are in proximity to each other.  Fair Oaks was built in 1983 and has 148 beds on a three-acre lot in Fair Oaks. Greenhaven was built in 1978 and has 148 beds on a 4.92-acre lot in Sacramento. …

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AcquisitionsIllinoisMemory CareNews

OneLife Senior Living Acquires 70-Unit Memory Care Property in Suburban Chicago

by Jeff Shaw

VERNON HILLS, Ill. — OneLife Senior Living has acquired the former Springs of Vernon Hills Alzheimer’s Special Care Center in the Chicago suburb of Vernon Hills.  The firm has since rebranded the 70-unit property as The Laurel at Vernon Hills. OneLife retained all 59 staff members, and reviewed and updated benefits, wages and best practices for staffing. OneLife reduced temporary agency staff and increased permanent team members.  The Laurel at Vernon Hills provides memory care services for people with Alzheimer’s and other forms of dementia.

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AcquisitionsAffordable HousingCCRCNewsOhio

Blueprint Arranges Sale of Mixed-Income Vineyard on Catawba Campus in Ohio

by Jeff Shaw

CATAWBA ISLAND, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Vineyard on Catawba in the lakeside town of Catawba Island. The campus features independent living units, assisted living apartments, developable land and affordable senior apartments. The seller was one of the country’s largest nonprofits. The buyer was United Church Homes, another large nonprofit seniors housing provider. The price was not disclosed. United Church Homes has rebranded the campus as The Parkvue Community on Catawba Island. Connor Doherty and Ryan Kelly led the Blueprint team.

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AcquisitionsAlabamaCCRCNews

Ziegler Arranges Sale of 316-Unit St. Martin’s in the Pines CCRC in Birmingham, Alabama

by Jeff Shaw

BIRMINGHAM, Ala. — Ziegler has served as sell-side financial advisor for the sale of St. Martin’s in the Pines, a 316-unit continuing care retirement community in Birmingham. Diversicare Healthcare Services acquired the property from the independent ownership board. The price was not disclosed. Located in the eastern outskirts of the city near the Mountain Brook and Homewood suburbs, the property is near the University of Alabama at Birmingham and the UAB hospital system. The community comprises a four-story independent living facility with 97 apartments, a two-story assisted living and memory …

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AcquisitionsAssisted LivingIndianaNews

SLIB Arranges Sale of 45-Unit Vermillion Place in Anderson, Indiana

by Jeff Shaw

ANDERSON, Ind. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Vermillion Place in Anderson, approximately 30 miles northeast of Indianapolis. The community comprises 45 units of assisted living care on about two acres. This particular asset was family owned and it proved difficult to successfully run a smaller, single-site operation, according to SLIB. The owner made the decision to sell and was encouraged by its lender to divest.  The buyer is a private owner that previously provided the owners with operating, clinical and environmental consulting services for …

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AcquisitionsAssisted LivingNewsVirginia

Blueprint Brokers Sale of Two Communities in Central Virginia

by Jeff Shaw

VIRGINIA — Blueprint Healthcare Real Estate Advisors has arranged the sale of two assisted living and memory care communities in Central Virginia. The properties located approximately 75 miles apart from each other and total 128 total units. One is located in a densely populated, affluent market, and the other in a more tertiary submarket. The buyer, seller and price were not disclosed, nor were further details on the properties.The Blueprint team included Kory Buzin, Steve Thomes, Amy Sitzman and Giancarlo Riso.

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