NEWARK, Del.; HAMILTON and WASHINGTON TOWNSHIP, N.J. — Juniper Communities has taken over management of three Leisure Care senior living properties providing assisted living and memory care. The three properties are part of Columbia Pacific Advisors’ seniors housing portfolio. The move adds 397 assisted living and memory care units and approximately 300 associates to Juniper’s current portfolio. Juniper Communities now owns and operates 28 communities in Colorado, New Jersey, Pennsylvania, Texas and Delaware. Juniper Village at Newark, formerly known as The Vero at Newark and built in 2023, offers assisted …
SALT LAKE CITY and ST. GEORGE, Utah — Blueprint Healthcare Real Estate Advisors has brokered the sale of two communities in Utah. The seller was a national developer/investor seeking an exit from more than a dozen geographically disparate, older-vintage communities. The communities were purchased in a sizeable portfolio transaction pre-COVID, under a value-add thesis of operator transitions to create regional groupings coupled with renovations and repositioning. Unfortunately, the cumulative impact of COVID followed by the unprecedented rise in interest rates created meaningful headwinds to the original thesis and drove a …
JACKSONVILLE — Senior Living Investment Brokerage (SLIB) has arranged the sale of Rosecastle of Deerwood, a 60-unit memory care community in Jacksonville. The asset was built in 2015 on approximately 3.4 acres. The buyer was a Florida-based entity using a 1031 exchange. The seller and price were not disclosed. Brad Clousing and Daniel Geraghty led the transaction for SLIB.
WYOMING, Mich. — Commonwealth Senior Living has acquired a seniors housing community in the Grand Rapids suburb of Wyoming. The buyer will rebrand the community as Commonwealth Senior Living at North Byron. This marks the third community for Commonwealth in the Grand Rapids area joining Commonwealth Senior Living at Grand Rapids and Commonwealth Senior Living at East Paris. The community currently features 102 assisted living and memory care units. Commonwealth Senior Living is planning a renovation of the community, primarily focused on enhancing the secure memory care neighborhood. The seller …
MINNEAPOLIS — Health Dimensions Group, a Minneapolis-based operator, has taken over day-to-day operations at Northern Lights Health Care Center and The Oaks at Northern Lights. HDG has been working closely with the communities’ teams since assuming operational oversight of Northern Lights Services on Feb. 1. In addition to Northern Lights Services, HDG manages 48 other senior living and care communities throughout the nation.
PHILIPSBURG, Pa. — Continuum Healthcare has agreed to acquire Windy Hill Village, a seniors housing community in the tiny Central Pennsylvania borough of Philipsburg. Presbyterian Senior Living (PSL) is selling the asset for an undisclosed price. The transaction is scheduled to close this summer. PSL has owned and operated Windy Hill Village since 2003. The community features 90 skilled nursing beds, 18 personal care beds and five independent living rental cottages. PSL says it is divesting of the community to invest more resources in its continuing care retirement communities as …
UTAH — CFG, a subsidiary of CFG Bank, has provided $16.3 million in bridge-to-HUD financing for the acquisition of two skilled nursing facilities. The properies, which are in Utah, support a total of 220 beds. The deal allowed the undisclosed borrower to expand its footprint into a new state. Further details were not disclosed. Tommy Dillon of CFG originated the transaction.
ATLANTA — On behalf of its investors, Hunt Capital Partners (HCP) has transferred ownership of Ashford Parkside Senior Residences to a nonprofit affiliate of the Housing Authority of DeKalb County. Located in Atlanta, Ashford Parkside is a mid-rise, mixed-income seniors housing community built in 2007. Following the end of 15-year recapture period in 2022, a collaborative effort ensued between the nonprofit and HCP to reach a mutually beneficial outcome regarding the property’s future. The decision provides the Housing Authority of Dekalb County greater capital flexibility surrounding all aspects of property …
CHICAGO — Ziegler has arranged the sale of a 100-plus-bed skilled nursing facility in a northern neighborhood of Chicago. Ziegler advised the seller, an Illinois-based nonprofit. A local operator acquired the asset for an undisclosed price. Nick Glaisner, managing director in Ziegler’s seniors housing and care practice, led the transaction with the support of Melanie Shaffer.
PLANO, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 65-unit assisted living and memory care community in Plano, north of Dallas. The community was originally built in the 1990s. A national developer/investor engaged Blueprint to create an exit strategy in order to maximize value for more than a dozen geographically disparate, older-vintage communities. The communities were purchased in a sizable portfolio transaction pre-COVID under a value-add plan to implement operator transitions to create regional groupings coupled with renovations and repositioning. Unfortunately, the cumulative impact of …