Acquisitions

AcquisitionsArizonaCCRCNews

SLIB Negotiates Sale of 198-Unit North Chandler Place in Arizona

by Jeff Shaw

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 …

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AcquisitionsFinanceNewsSkilled NursingTennessee

CareTrust REIT Funds $26.7M Mortgage Financing with Purchase Option on Tennessee Skilled Nursing Portfolio

by Jeff Shaw

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 …

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AcquisitionsAssisted LivingNewsTennessee

Berkadia Negotiates Sale of Two Communities in Tennessee

by Jeff Shaw

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.

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AcquisitionsNewsSkilled NursingUtah

Ensign Group Acquires Long-Term Acute Care Hospital, Skilled Nursing Facility in Bountiful, Utah

by Jeff Shaw

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 …

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AcquisitionsIllinoisMemory CareNewsOperationsWisconsin

Anthem Memory Care Assumes Management of Communities in Illinois, Wisconsin

by Jeff Shaw

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 …

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AcquisitionsNewsOhioSkilled Nursing

Blueprint Brokers Sale of Skilled Nursing Facility in Cincinnati

by Jeff Shaw

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.

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AcquisitionsAssisted LivingMichiganNewsOperations

Arrow Takes Over Management of University Senior Living in Ann Arbor, Michigan

by Jeff Shaw

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.

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AcquisitionsNewsTexas

Blueprint Negotiates Sale of 269-Unit Franklin Park TPC Parkway in San Antonio

by Jeff Shaw

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 …

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AcquisitionsAssisted LivingNewsOhio

Phorcys Capital Partners Acquires Prosper at Wickliffe in Ohio for $13M

by Jeff Shaw

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.

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AcquisitionsNews

Ziegler Arranges Sale of 15-Community Seniors Housing Portfolio for $180.5M

by Jeff Shaw

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 …

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