ANN ARBOR, Mich. — Arrow Senior Living has assumed management of University Senior Living, expanding its Midwest reach. Located near the University of Michigan campus in Ann Arbor, University Senior Living features 63 assisted living units and 12 memory care apartments. Arrow Senior Living’s portfolio includes 37 communities, with several in development, across the Midwest. The addition of University Senior Living marks Arrow’s expansion into the Michigan market.
SAN ANTONIO — Blueprint Healthcare Real Estate Advisors has negotiated the sale of Franklin Park TPC Parkway, a 269-unit seniors housing community in San Antonio. The Class A community was constructed in two phases from 2011 to 2017. It offers independent living, assisted living and memory care services. Following the completion of the six-year freeway expansion that affected leasing, access to the community had dramatically improved at the time of marketing, according to Blueprint. The refreshed curb appeal provided an opportunity for an incoming investor to capitalize on existing move-in …
WICKLIFFE, Ohio — Phorcys Capital Partners, the investment advisor to Phorcys Senior Housing Recovery Fund LP, has acquired Prosper at Wickliffe, a 160-unit assisted living facility in Wickliffe, approximately 15 miles northeast of Cleveland. Phorcys made the purchase through a trustee-directed short sale for $13 million. Prosper Life Care will take over management of the property.
CHICAGO — Ziegler, a Chicago-based specialty investment bank, has acted as sell-side advisor to Retirement Housing Foundation (RHF) on the sale of its 15-community senior living portfolio. The properties are located across six states: California (seven communities), Florida (three), Missouri (two), Indiana (one), Kentucky (one) and South Carolina (one). The properties collectively sold for $180.5 million. The portfolio consisted of 3,200 market-rate independent living, 850 assisted living and memory care, and 563 skilled nursing beds. RHF is a California-based nonprofit organization. The portfolio represented the majority of RHF’s presence in …
DALLAS — CBRE has negotiated the sale of four senior housing communities in the Dallas MSA. The portfolio — rebranded as Village on the Park Plano, Village on the Park Denton, Village on the Park Stonebridge Ranch, and Village on the Park McKinney — comprises 366 units of assisted living and memory. The properties were all built between 2014 and 2017. The buyer is a joint venture between Artemis Real Estate Partners and Bridgewood Property Company. The Aspenwood Company, Bridgewood’s affiliate property manager, is operating the communities. The seller and …
MICHIGAN CITY and MERRILLVILLE, Ind. — Blueprint Healthcare Real Estate Advisors has arranged the sale of two communities in Indiana. The two assisted living and memory care communities are located in Michigan City and Merrillville, both located on the south shore of Lake Michigan southeast of Chicago. The portfolio totals 119 units. Blueprint positioned the portfolio as a value-add opportunity for an incoming buyer to capitalize on strong pre-pandemic financial performance along with substantial Medicaid Waiver reimbursement rate enhancements that were passed in July of 2023. The buyer, seller and price were …
KATY, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of an assisted living and skilled nursing facility in Katy, a suburb of Houston. Opened in 2018, the facility consists of 70 short-term rehab beds and 34 assisted living beds across 78 units. The community maintained a steady lease-up trajectory that was quickly halted due to industry-wide COVID headwinds that caused statewide decreases in elective surgeries. With a minimal amount of dually certified beds, the seller struggled to turn a profit, according to Blueprint. The seller was a …
BOULDER CITY, Nev. — The Bascom Group LLC has acquired Homestead at Boulder City, a seniors housing community in the Las Vegas suburb of Boulder City, for $3 million. Homestead is a single-story building constructed in 1999. It features 72 units of seniors housing. Vincent Punzi and Lowell Takahashi of Berkadia arranged the debt financing for the acquisition, with Kairos Investment Management Co. as the lender. Brad Goodsell, Vince Viverito, Jason Punzel and Brad Clousing of Senior Living Investment Brokerage (SLIB) represented the undisclosed seller. Apartment Management Consultants will provide property …
MADISONVILLE, Tenn. — Blueprint Healthcare Real Estate Advisors has arranged the sale of an 81-bed skilled nursing facility in Madisonville, located between Knoxville and Chattanooga. The seller was The Trousdale Foundation, a nonprofit owner through Trousdale Living Communities. The buyer was a New York-based provider. Although the price was not disclosed, the per-bed price of $150,000 equates to approximately $12 million. Constructed in 1982, the asset is located on four acres approximately 10 miles south of Sweetwater Hospital. As the only licensed provider in the city, the high-quality facility generated …
WISCONSIN and NORTH DAKOTA — Meridian Capital Group’s senior housing and healthcare team has negotiated the sale of a three-property senior living portfolio in Wisconsin and North Dakota. The seller was Harrison Street. The buyer and price were not disclosed. New Perspective Senior Living will continue to operate the properties. The three assets offer a combined 146 independent living units, 139 assisted living units and 143 memory care bed. Ari Adlerstein, Josh Simpson and Jesse Rauch led the Meridian team.
