WILDWOOD, TOWN & COUNTRY and KANSAS CITY, Mo. — JLL Capital Markets has arranged the sale of three seniors housing communities in Wildwood, Town & Country and the Burlington Creek area of Kansas City. The buyer was a joint venture between Artemis Real Estate Partners, Scarp Ridge Capital Partners and Arrow Senior Living. The seller and price were not disclosed. JLL represented the seller and procured the buyer spearheaded by Scarp Ridge and capitalized by Artemis. Arrow Senior Living is taking over operations of the three communities. The acquisition is …
Acquisitions
— By Blake Bozett, founder and CEO, The Zett Group — The Boise metro (Boise, Eagle, Meridian, Garden City) is made up of 75 licensed assisted living facilities, 42 of which have more than 30 licensed beds. Of those 42 assisted living facilities, the ownership type is made up of: national owner/operator (18), local owner/operator (12), REIT (4), regional owner/operator (3), local development company (2), privately held real estate investment firm (1), 1031 investment platform (1) and non-profit (1). These ownership stats aren’t necessarily unique to other metros such as …
Berkadia Arranges Sale of 112-Unit Seniors Housing Community in Atlanta’s Buckhead District
ATLANTA — Berkadia’s Seniors Housing & Healthcare team has arranged the sale of Brighton Gardens of Buckhead, a 112-unit seniors housing community in Atlanta’s Buckhead district. Metro Atlanta-based PruittHealth purchased the asset from Indianapolis-based Prime Care One LLC for an undisclosed price. Cody Tremper, Mike Garbers, Dave Fasano and Ross Sanders of Berkadia represented the seller in the transaction. Additionally, Jay Healy of Berkadia arranged a $13 million bridge-to-HUD loan for the acquisition of Brighton Gardens, as well as the refinancing of two separate skilled nursing facilities in Georgia. The …
INDIANAPOLIS — Blueprint Healthcare Real Estate Advisors has brokered the sale of a seniors housing community in Indianapolis. The buyer, seller, price and details on the property were not released, but the new owner plans to convert the property to an inpatient substance use disorder clinic. Andrew Sfreddo, Shane Harmon, Gunnar Raney, Connor Doherty and Ryan Kelly led the Blueprint team.
BREAKING: Welltower Agrees to Acquire 25-Property Affinity Living Active Adult Portfolio for $969M
TOLEDO, Ohio — Welltower Inc. (NYSE: WELL), a Toldeo-based REIT and the largest owner of seniors housing in the United States with nearly 100,000 units, has agreed to acquire 25 active adult communities from Affinity Living Communities for $969 million. The off-market transaction is part of a long-term strategic partnership between the two companies, with plans for future development activity together. The portfolio encompasses nearly 3,900 units predominately concentrated in the Pacific Northwest. The acquisition will enable Welltower to strategically scale the geographic reach of its active adult portfolio into …
COON RAPIDS, Minn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Homestead at Coon Rapids, a 53-unit assisted living and memory care community in Coon Rapids, a northern suburb of Minneapolis. Built in 1999, The Homestead at Coon Rapids features 29 assisted living units 24 memory care units. The property totals 31,195 square feet on approximately three acres of land. The seller is a large, national nonprofit looking to condense its portfolio to focus on core communities. The buyer is an in-state owner partnering with an …
LOS ANGELES — Avison Young has arranged the $23.5 million sale of a seniors housing facility located at 6700 Sepulveda Blvd. in the Van Nuys neighborhood of Los Angeles. Boca Raton, Fla.-based Pinnacle Holdings of Florida sold the asset to an entity of California Healthcare & Rehabilitation Center, which currently operates the property. Situated on two acres, the 49,818-square-foot facility features 201 beds for seniors. Peter Sherman and Keith O’Donnell of Avison Young represented the seller in the off-market deal.
RICHMOND HEIGHTS, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Richmond Heights Place, a continuing care retirement community in Richmond Heights, a suburb northeast of Cleveland. The property, featuring a total of 138 seniors housing units and skilled nursing beds, was part of a strategic exit plan by a West Coast-based owner-operator. A private owner-operator looking to expand in the Midwest acquired the asset for an undisclosed price. Connor Doherty, Ryan Kelly and Dan Mahoney led the Blueprint team.
DAYTON, Ohio — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a memory care community in Dayton, and the buyer plans to convert the property into a substance use disorder clinic. A seniors housing operator and its institutional capital partner decided to exit the property, and the highest offers were from behavioral health companies, according to Blueprint. Further details on the buyer, seller and price were not disclosed. Andrew Sfreddo, Shane Harmon, Gunnar Raney, Amy Sitzman and Giancarlo Riso led the Blueprint team.
PLEASANT PRAIRIE, Wis. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 100-unit assisted living and memory care community in Pleasant Prairie, approximately midway between Chicago and Milawukee. Built in 2016, the facility benefits from an attractive, modern physical plant and has been well maintained, according to SLIB. The seller was an East Coast-based private equity firm. The buyer is a regional owner-operator that had been looking to expand in this market. The price was not disclosed. Bradley Clousing, Ryan Saul, and Jeff Binder of SLIB handled …