Acquisitions

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AcquisitionsIllinoisNew JerseyNewsPennsylvania

Capitol Seniors Housing Sells Four-Property Portfolio to Welltower

by Hayden Spiess

WASHINGTON, D.C. — Capitol Seniors Housing (CSH) has completed the sale of a four-property seniors housing portfolio located in New Jersey, Pennsylvania and metro Chicago. Welltower acquired the communities for an undisclosed price.  Two of the properties are situated in the Chicago metropolitan area, with one community located in Exton, Pennsylvania, and another community located in Marlton, New Jersey.  According to CSH, the company has now surpassed $1 billion in sales of senior living communities developed by the firm. CSH was founded in 2003 by former Sunrise Senior Living executives Scott …

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AcquisitionsFloridaIndependent LivingNews

Continuum Brokers Sale of 139-Unit Community in Tampa

by Hayden Spiess

TAMPA, Fla. — Continuum Advisors has brokered the sale of Arbor Terrace Citrus Park Independent Living, a 139-unit community located in Tampa.  Developed in 2019 on nine acres, the property comprises 172,090 square feet. Chancey Architecture and Interior Design designed the community, which was developed by BRW Development Partners, Chancey Development and Rookis Development, in collaboration with The Arbor Co.  David Kliewer and Jay Jordan of Continuum arranged the transaction. The undisclosed buyer will retain The Arbor Co. as the operator. 

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AcquisitionsNewsVirginia

Marcus & Millichap Brokers Sale of Three-Property Seniors Housing Portfolio in Virginia

by Hayden Spiess

ROANOKE, BEDFORD and DANVILLE, Va. — Marcus & Millichap has brokered the sale of a three-property seniors housing portfolio in Virginia.  Located in Roanoke, Bedford and Danville, the portfolio totals 167 units and 295 licensed beds.  Justin Knapp and Joseph Knapp of Marcus & Millichap represented the seller in the transaction. Brian Hosey, Marcus & Millichap’s broker of record in Virginia, assisted in the sale. 

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AcquisitionsAssisted LivingDevelopmentMemory CareNew YorkNews

Sunrise Acquires Development Site on Long Island for $7.5M

by Hayden Spiess

OCEANSIDE, N.Y. — Sunrise Senior Living has acquired a development site situated on Long Island in Oceanside for $7.5 million.  Kelly Koukou of Lee & Associates represented Sunrise in the acquisition. Marlon Matza of Strategic Realty Advisors represented the sellers, Grossman Nurseries and Breslin Development. The parties originally signed a purchase contract in 2017, but entitlement complications delayed the closing of the acquisition.  Sunrise plans to develop a 77,400-square-foot assisted living and memory care community on the property. Upon completion, the community will feature 84 units. A construction timeline was not …

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AcquisitionsCaliforniaMemory CareNews

Marcus & Millichap Brokers Sale of Memory Care Campus in San Diego County

by Hayden Spiess

SAN DIEGO COUNTY, Calif. — The Knapp-Stahler Group of Marcus & Millichap has brokered the sale of a memory care campus located in San Diego County.  Developed in 2002, the property comprises seven buildings, with more than 55 units licensed for over 85 residents. The community was operating with negative net operating income (NOI) at the time of sale.  An undisclosed, all-cash buyer acquired the community for roughly $170,000 per unit. A publicly traded REIT was the seller. Nick Stahler, Justin Knapp, Michael Mooney and Hap Knowles of The Knapp-Stahler Group …

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AcquisitionsAssisted LivingFloridaMemory CareNews

Health Wave Partners Acquires 134-Unit Community in South Florida

by Hayden Spiess

WELLINGTON, Fla. — Health Wave Partners has acquired Alamar Senior Living, a 134-unit assisted living and memory care community in Wellington. The property was 96 percent occupied at the time of sale.  AgeWell Senior Living will continue to manage the property on behalf of Health Wave. Amenities at the community include a fitness center, movie theater, beauty salon, bistro, billiards room, dog park and secure memory care courtyard. An improvement program was recently implemented at the property, including renovations to resident units, common areas, furnishings and outdoor amenities. “Alamar is an …

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AcquisitionsAssisted LivingIndianaMemory CareNews

Gardant Management Solutions Acquires 100-Unit Community in Indianapolis

by Hayden Spiess

INDIANAPOLIS — Gardant Management Solutions has acquired a community totaling roughly 100 units in Indianapolis.  The campus features more than 80 assisted living apartments and more than 20 memory care units.  Ryan Saul, Dan Geraghty and Bradley Clousing of Senior Living Investment Brokerage arranged the transaction on behalf of the seller. 

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AcquisitionsColoradoNew MexicoNews

LTC Acquires Communities in Colorado, New Mexico for $73M

by Hayden Spiess

WESTLAKE VILLAGE, Calif. — LTC Properties has acquired two communities located in Colorado and New Mexico for a combined purchase price of $73 million. Harbert Management Corp. was the seller.  Berkadia brokered the sale of the properties, MorningStar of Albuquerque in New Mexico and MorningStar of Wheat Ridge in Denver. The communities total 69 units and 64 units, respectively, with assisted living and memory care.  MorningStar Senior Living will continue to manage the properties on behalf of the new ownership.  LTC will own the communities as a senior housing operating portfolio …

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AcquisitionsNewsSkilled NursingTennessee

SLIB Arranges Sale of 98-Bed Skilled Nursing Community in Eastern Tennessee

by Hayden Spiess

SEVIEVILLE, Tenn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a skilled nursing community located in Sevieville near the foothills of the Great Smoky Mountains. The facility is situated on 9 acres and totals 98 beds.  According to SLIB, the seller, a Tennessee-based non-profit, received 18 offers for the property.  Ryan Saul and Patrick Burke brokered the transaction. 

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AcquisitionsFinanceNewsPennsylvania

Berkadia Brokers Sale of 78-Unit Assisted Living, Memory Care Community in Metro Philadelphia

by Hayden Spiess

PAOLI, Pa. — Berkadia has brokered the sale of Daylesford Crossing, a 78-unit assisted living and memory care community located 25 miles west of Philadelphia in the suburb of Paoli. Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers of Berkadia Seniors Housing & Healthcare negotiated the transaction on behalf of the seller, Boston-based investment firm AEW Capital Management. Berkadia also originated an $18 million bridge loan on behalf of the buyer, a joint venture between an Atlanta-based entity that will serve as the general partner and an institutional limited partner. …

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