BASTROP and MINDEN, La. — Helios Healthcare Advisors served as the exclusive buy-side advisor and debt-placement agent in structuring the purchase of two assisted living communities in North Louisiana. The buyer is an independent investment group based in Texas and Louisiana. Savannah Court of Bastrop and Savannah Court of Minden are two assisted living communities that were owned by a public REIT and operated by a regional provider under a triple-net lease. Built in the late 1990s, both communities boasted a historical average occupancy of 90 percent and maintained positive …
Strong demographics and — hopefully — an end to interest rate increases make for a strong return for seniors housing lending. Roundtable participants Steve Kennedy Executive Managing Director VIUM Capital Michael Gehl Chief Investment Officer, FHA Lending NewPoint Real Estate Capital Don Kelly Senior Managing Director Locust Point Capital Bill Lewittes Senior Managing Director,Loan Origination, Real Estate Kayne Anderson Alex Loo Director Hudson Realty Capital Perry Freitas Managing Director Hudson Realty Capital Michael Coiley Managing Director, Healthcare Finance First Citizens Bank Ken Assiran Managing Director, Seniors Housing CFG By Jeff …
CLEVELAND — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 102-unit independent living community in a Cleveland suburb. The property was constructed in the late 1980s. The buyer was a private, Northeast-based investor. Further details were not disclosed. Connor Doherty and Ryan Kelly led the Blueprint team.
KNOXVILLE, Tenn. — SRI Management, in conjunction with Bourne Financial Group, has acquired Trinity Hills of Knoxville. The community is located in the foothills of the Great Smoky Mountains in East Knoxville. It offers assisted living and memory care services. Further details were not disclosed.
CHANDLER, Ariz. — Senior Living Investment Brokerage (SLIB) has arranged the sale of North Chandler Place, a 198-unit continuing care retirement community in the Phoenix suburb of Chandler. The property features 119 independent living, 16 assisted living, 28 memory care and 35 skilled nursing units. It was built in 1966 with additions in 2002 and 2007. The property totals 192,208 square feet on approximately 15.2 acres of land. The seller is a group of investors that will reinvest their proceeds in other core assets in the portfolios. The buyer is …
SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NYSE:CTRE), a San Clemente-based REIT focused on skilled nursing properties, has funded a $26.7 million mortgage loan in connection with the borrower’s acquisition of a two-asset skilled nursing portfolio in Tennessee. The properties feature a combined total of 276 licensed beds. The borrower group under the loan is a regional healthcare real estate owner and investor. Affiliates of The Ensign Group Inc. (NASDAQ: ENSG) took over operations on May 1 pursuant to a new, long-term, triple-net master lease with the borrower. The loan …
KNOXVILLE and JACKSON, Tenn. — Berkadia has arranged the sale of two assisted living and memory care communities in Tennessee. Berkadia Seniors Housing & Healthcare, led by Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders, negotiated the 127-unit transaction on behalf of a publicly traded REIT. Mainstay Senior Living acquired the properties, which are located in the Knoxville and Jackson markets. Further details were not disclosed.
BOUNTIFUL, Utah — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the real estate and operations of South Davis Specialty Care a 95-bed skilled nursing operation, and Western Peaks Specialty Hospital, a 43-bed long-term acute care hospital (LTACH). Both assets are located in Bountiful, approximately 10 miles north of Salt Lake City. The real estate was acquired by a subsidiary of Standard Bearer Healthcare REIT Inc., Ensign’s captive real estate company. “This acquisition represents a milestone in our organization, as it is the first acquisition of a long-term acute care …
SAVOY, Ill., and FRANKLIN, Wis. — Anthem Memory Care has assumed management of two communities — Savoy Place in Savoy and Franklin Place in Franklin. Under the agreement, Anthem Memory Care is managing all aspects of the communities’ operations and will add regional staff, technology and training programs to adapt the communities to its approach to care. The new properties bring Anthem’s portfolio up to 20 properties and marks the Oregon-based operator’s entry into Wisconsin. With existing communities in Arkansas, California, Colorado, Illinois, Kansas, Minnesota and Ohio, Anthem now manages …
CINCINNATI — Blueprint Healthcare Real Estate Advisors has arranged the sale of a skilled nursing facility in Cincinnati. A local owner-operator looking to focus on other asset classes sold the property to another owner-operator. The price was not disclosed. The facility opened in 2013 featuring a large rehabilitation center and state-of-the-art aquatic therapy room, in addition to all-private resident rooms. Connor Doherty and Ryan Kelly led the Blueprint team.