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Acquisitions

AcquisitionsAssisted LivingNewsTexas

Blueprint Negotiates Sale of 65-Unit Value-Add Community in Plano, Texas

by Jeff Shaw

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 …

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AcquisitionsCCRCNewsTexas

Buckner Retirement Services Acquires The Stayton at Museum Way in Fort Worth, Texas

by Jeff Shaw

FORT WORTH, Texas — Nonprofit senior living provider Buckner Retirement Services has acquired The Stayton at Museum Way, a seniors housing community in Fort Worth. The Stayton at Museum Way is an 11-story continuing care retirement community featuring 188 independent living units, 42 assisted living units, 20 memory care units and 46 skilled nursing units.  The seller, Lifespace Communities, acquired The Stayton in 2019 and has operated it since. The price was not disclosed. The Stayton will be the seventh senior living community owned and operated by Buckner in Texas, …

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AcquisitionsColoradoNews

SLIB Negotiates Sale of 108-Bed Devonshire Acres in Sterling, Colorado

by Jeff Shaw

STERLING, Colo. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Devonshire Acres, an independent living, assisted living and skilled nursing community in Sterling, near the Nebraska border approximately 130 miles northeast of Denver. The community consists of 24 independent living/assisted living beds and 84 skilled nursing beds. It was built in 1982 and renovated in 1989. The property totals 55,430 square feet on approximately 10 acres of land. The seller was a REIT. This was the tenant’s only managed asset in the state. The buyer is a …

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AcquisitionsAssisted LivingNewsTennessee

Blueprint Brokers Sale of Vacant Community in Memphis for Behavioral Health Conversion

by Jeff Shaw

MEMPHIS, Tenn. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a vacant assisted living community in Memphis. Blueprint’s behavioral healthcare team advised the seller on obtaining special zoning entitlements to seek a buyer looking to convert the property into a behavioral healthcare facility. The buyer originally planned to implement capital improvements and license the building as a substance abuse facility. However, during escrow, Blueprint was approached by an adolescent mental healthcare provider, expressing strong interest in leasing and operating the property. Blueprint introduced the buyer to the …

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AcquisitionsNewsOregon

Ziegler Arranges Sale of 177-Unit Parkview Christian Retirement Community in Portland, Oregon

by Jeff Shaw

PORTLAND, Ore. — Ziegler, as exclusive financial advisor to the seller, has arranged the acquisition of Parkview Christian Retirement Community in Portland. Founded by members of the Columbia Baptist churches, the nonprofit Oregon Baptist Retirement Home Society opened its doors in 1944. The community expanded several times over the next 40 years. In 1987, the organization moved to its current location in northeast Portland and expanded again 10 years later. Today, the campus consists of 115 rental independent living apartments and 62 assisted living units spread over approximately six acres …

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AcquisitionsMissouriNewsSkilled NursingTexas

CareTrust REIT Acquires Three-Property Skilled Nursing Portfolio in Texas, Missouri for $55.6M

by Jeff Shaw

COLUMBIA, MO., and HOUSTON — CareTrust REIT Inc. (NYSE: CTRE) has acquired three skilled nursing facilities for approximately $55.6 million, inclusive of transaction costs.  The portfolio, consisting of 210 skilled nursing beds and 24 assisted living units, will be added to CareTrust’s existing master lease with affiliates of PACS Group Inc., which has been operating the facilities for a third-party landlord. Two of the facilities are located in Houston and one is located in Columbia. The acquisition increases annual rent under the existing PACS master lease by approximately $5 million. …

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AcquisitionsKansasNewsSkilled Nursing

Ensign Group Acquires 45-Bed Skilled Nursing Facility in Atchison, Kansas

by Jeff Shaw

ATCHISON, Kan. — The Ensign Group Inc. (Nasdaq: ENSG) has acquired the real estate and operations of Atchison Senior Village Rehabilitation and Nursing Center, a 45-bed skilled nursing facility located in Atchison, located along the Missouri river approximately 45 miles northwest of Kansas City. The real estate was acquired by a subsidiary of Standard Bearer Healthcare REIT Inc., Ensign’s captive real estate company. Gateway Healthcare, Ensign’s Kansas-based subsidiary, will handle operations. In a separate transaction on the same day, Ensign announced that its affiliates acquired the operations of Park Post …

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AcquisitionsAssisted LivingFloridaNews

Blueprint Negotiates Sale of 110-Unit Community in Lake Worth, Florida

by Jeff Shaw

LAKE WORTH, Fla. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 110-unit assisted living and memory care community in the Palm Beach-area city of Lake Worth. The property, which was not named, was sold as a value-add opportunity despite being Class A and opened in 2019. While the community never stabilized, it did experience positive momentum in 2022 and early 2023 and was around breakeven at launch despite supply pressure in the submarket, according to Blueprint. A national developer/investor sold the asset to Capital Senior Ventures …

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AcquisitionsDelawareNewsSkilled Nursing

ESI Brokers $10M Sale of Courtland Manor in Dover, Delaware

by Jeff Shaw

DOVER, Del. — Evans Senior Investments (ESI) has arranged the sale of Courtland Manor, a skilled nursing community in Dover.  An independent owner-operator sold the asset for $10 million, or $142,857 per bed. The buyer was a New York-based owner-operator. Since its inception in 1986, Courtland Manor has been under the ownership and operation of the seller. It features 70 licensed beds and a five-star CMS rating. Courtland Manor has historically maintained high occupancy rates, boasting figures in the high 80 percent range prior to COVID-19. Despite the challenges posed …

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