HOUSTON — A joint venture between Avanti Senior Living and Iron Point has sold a seniors housing portfolio located in Texas and Louisiana. Developed between 2015 and 2019, the portfolio is located in Houston, Dallas, New Orleans and Lafayette, Louisiana. Each of the communities, which include assisted living and memory care residences, totals roughly 90 units. Avanti manages the assets. JLL Capital Markets brokered the sale on behalf of the joint venture.
MORGAN HILL, Calif. — Steadfast Senior Living has sold Loma Clara, a 67-unit community located in Morgan Hill, for an undisclosed price. LTC REIT was the buyer. Completed in 2018, Loma Clara features 42 assisted living units and 25 memory care units. The property was roughly 92 percent occupied at the time of sale. Units total 529 square feet on average. Amenities at the community include a theater, fitness center, activity and game rooms, a library, outdoor courtyard, physical therapy space and bistro. Discovery Management will continue to operate the property. …
BREA, Calif. — Integrated Senior Foundation, a non-profit senior living provider, has received $79.3 million in tax-exempt, floating-rate financing for the acquisition of three properties located in Oregon and Montana. The communities include Magnolia Gardens in Cottage Grove, Oregon; Wiley Creek in Sweet Home, Oregon; and The Lodge in Great Falls, Montana. Together, the properties total 287 units, with 23 independent living, 190 assisted living and 74 memory care units. Magnolia Gardens features 101 units with a full continuum of care. Wiley Creek comprises 108 units, including independent living, assisted living …
CARLSBAD, Calif. — Harrison Street has received a loan to facilitate the acquisition of a 153-unit senior living community located in Carlsbad. The community, Oakmont Santianna, totals 153 units, including independent living, assisted living and memory care residences. Oakmont Management Group developed the property, which opened in 2022. BWE arranged the financing, which includes a 10-year, fixed-rate loan with full-term interest-only payments. A life insurance company provided the loan. Oakmont Management Group will continue to operate the community on behalf of the new ownership.
MERRILL, Wis. — Marcus & Millichap has arranged the $9.5 million sale of a skilled nursing facility located in Merrill. Totaling 120 beds, Pine Crest Nursing Home features 117 units, with 105 private rooms and 15 semi-private rooms. A memory care unit, rehabilitation center and special care units were recently added to the property. The facility was 70 percent occupied at the time of sale. Ray Giannini of Marcus & Millichap brokered the sale on behalf of the seller and procured the buyer.
FREDERICKSBURG, Texas — Capital Square has acquired Woodland Cottages, an active adult community located in Fredericksburg. Woodland Cottages totals 62 units, with 20 one-bedroom and 42 two-bedroom residences. One-bedroom and two-bedroom apartments at the property average 899 and 1,355 square feet, respectively. Amenities at the community include a 6,000-square-foot clubhouse, a swimming pool, fitness center and dedicated resident concierge. Capital Square acquired the property on behalf of its CS1031 Texas Active Adult Living I DST fund, which is currently raising equity from accredited investors.
JOHNSON CITY, Tenn. — Blueprint has arranged the sale of a 402-bed portfolio located in Tennessee and Virginia. Ballad Health, a Johnson City, Tennessee-based not-for-profit integrated healthcare system, was the seller. The portfolio comprises three skilled nursing facilities and one assisted living community. Ahava Healthcare, a New York-based owner and operator, acquired the portfolio for an undisclosed price.
MARANA, Ariz. — Stellar Senior Living has acquired La Sonora at Dove Mountain, a seniors housing community located in Marana, roughly 20 miles northwest of Tucson. Totaling 152 units, the property features independent living, assisted living and memory care residences. The seller and sales price were not disclosed. Stellar Senior Living, which was founded in 2011, is headquartered in Salt Lake City.
TUSTIN, Calif. — Jonathan Rose Cos. has acquired Coventry Court, a seniors housing community located in Tustin, for $83 million. Meta Housing Corp. was the seller. Developed in 2012, the property features 240 units, with 153 residences designed as affordable and reserved for seniors earning 50, 60 and 110 percent of the area median income. Consequently, the property qualifies for a 40 percent tax abatement. The other 87 units at the community are market rate. Jim Fisher, Vince Norris, Mike Smith and Tommy Yates of Northmarq brokered the transaction on behalf …
NAPLES and SARASOTA, Fla. — Real estate investment management firm Town Lane has acquired two independent living communities located in Florida. Together the properties total 373 units. Located in Naples, Discovery Village Naples was opened in 2020. Discovery Village Sarasota Bay in Sarasota was opened in 2022. Both communities are located on campuses that also house assisted living and memory care facilities. Discovery Senior Living will continue to lease and operate the communities. Amenities at the properties include outdoor courtyards and pools, fitness and rehab spaces, theaters and beauty salons. “The …
