Acquisitions

AcquisitionsAffordable HousingIllinoisNews

Standard Communities Acquires 214-Unit Huntington Towers Affordable Community in Mount Prospect, Illinois

by Jeff Shaw

MOUNT PROSPECT, Ill. — Standard Communities has led a public-private partnership in acquiring Huntington Towers, an affordable seniors housing community in Mount Prospect, approximately 20 miles northwest of Chicago. The community totals 214 units, and the acquisition will preserve its affordability for 30 years. The total capitalization of the transaction is approximately $74.9 million, including $16.1 million for planned renovations. Standard completed the acquisition in partnership with the Illinois Housing Development Authority and the U.S. Department of Housing and Urban Development. The property was originally built in 1978. Renovations at …

Continue Reading
1 FacebookTwitterLinkedinEmail
AcquisitionsGeorgiaNewsSkilled Nursing

Selectis Health Agrees to Sell Four Skilled Nursing Facilities in Georgia for $31M

by Jeff Shaw

WARRENTON, EASTMAN, GLEN EAGLE and SPARTA, Ga. — Selectis Health Inc. (OTC: GBCS) has agreed to sell the company’s four owned and operated skilled nursing facilities in Georgia.  The agreements provide for the sale of the Company’s Warrenton Healthcare & Rehabilitation, Eastman Healthcare & Rehabilitation, Glen Eagle Nursing and Rehabilitation and Providence of Sparta Healthcare & Rehabilitation facilities, for an aggregate consideration of $31 million.  All four properties are located in rural markets in Middle Georgia. The Warrenton property features 110 beds, the Eastman 100 beds, Glen Eagle 101 beds …

Continue Reading
1 FacebookTwitterLinkedinEmail
AcquisitionsAssisted LivingIndianaNews

Blueprint Negotiates Sale of Two Communities in Indianapolis

by Jeff Shaw

INDIANAPOLIS — Blueprint Healthcare Real Estate Advisors has arranged the sale of two assisted living communities in Indianapolis. Both assets were built in the late 1990s. Further details on the properties were not disclosed. Bloom Senior Living acquired the communities and plans to reposition them as the premier affordable options in Indianapolis by utilizing the Indiana Assisted Living Waiver Program. The seller and price were not disclosed. Ryan Kelly, Connor Doherty, Amy Sitzman and Giancarlo Riso led the Blueprint team.

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsNewsWisconsin

SLIB Arranges Sale of 73-Unit Community in Footville, Wisconsin

by Jeff Shaw

FOOTVILLE, Wis. — Senior Living Investment Brokerage has negotiated the sale of a 73-unit community in Footville, a village of fewer than 1,000 residents located approximately midway between Madison and Rockford, Illinois. The community-based residential facility (CBRF) was built in 2009. If totals 56,912 square feet on approximately seven acres of land. The seller was a group of local real estate owners seeking to retire from the industry. The buyer was an experienced local operator that partnered with an out-of-state equity group. This is the ninth community added to the …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsMemory CareMinnesotaNews

SLIB Negotiates Sale of 65-Unit Memory Care Community in St. Paul, Minnesota

by Jeff Shaw

ST. PAUL, Minn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Alton, a 65-unit memory care community in St. Paul. The community was built in 2008. It totals 52,516 square feet on approximately 0.88 acres of land. The seller was a multifamily owner/developer looking to focus on its market-rate portfolio. The buyer was an experienced home health operator in the Minnesota market looking to grow its presence in traditional senior living real estate investments. The price was not disclosed. Jason Punzel, Jake Anderson, Brad Goodsell and …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsDevelopmentFeaturesNews

Acquisitions Make More Sense Than Development in Today’s Market, Says Benchmark CEO Tom Grape

by Jeff Shaw

The dearth of new supply in the seniors housing space is a double-edged sword, says Tom Grape, founder, chairman and CEO of regional operator Benchmark Senior Living. While the lack of new product has provided a much-needed lift to operators of existing communities seeking to boost occupancy, it’s also a missed opportunity for developers chomping at the bit to start new projects.  The year-over-year (YOY) inventory growth in seniors housing was 1.3 percent in the third quarter, nearly the smallest YOY growth since 2012, according to NIC MAP. Grape foresees …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsIndianaNewsOhio

SLIB Negotiates Sale of Five-Community Portfolio in Ohio, Indiana

by Jeff Shaw

OHIO and INDIANA — Senior Living Investment Brokerage (SLIB) has arranged the sale of a five-property portfolio located in Ohio and Indiana. The five communities total 400 units and were built between 1983 and 2001.  The Ohio communities are all located within 250 miles of each other, and the Indiana communities are located within 75 miles of each other. The portfolio is well maintained and underwent significant capex over the last few years, according to SLIB. The seller was a Northeast-based private REIT that divested the portfolio to focus on …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsNewsWashington

Blueprint Brokers Sale of Community in Bremerton, Washington

by Jeff Shaw

BREMERTON, Wash. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a seniors housing asset in Bremerton, across the Puget Sound from Seattle. The seller was a national healthcare REIT. Further details on the property were not disclosed. The existing asset was identified as an ideal candidate for either a behavioral healthcare provider, based on strong demand and reimbursement in the state, or a strategic regional seniors housing operator that had economies of scale in the region. Ultimately, a regional seniors housing operator, which Blueprint has worked with …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAssisted LivingGeorgiaNews

SLIB Arranges Sale of Two Communities in Georgia

by Jeff Shaw

JEFFERSON and NORCROSS, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two assisted living and memory care communities in Georgia. The two communities are located approximately 50 miles from each other in Jefferson and Norcross, both northeast of Atlanta. Bradley Clousing and Daniel Geraghty led the transaction for SLIB. The buyer, seller, price and names of the communities were not disclosed.

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsCaliforniaNewsSkilled Nursing

Ziegler Negotiates $35.6M Sale of Eskaton Skilled Nursing Portfolio in Metro Sacramento

by Jeff Shaw

SACRAMENTO, FAIR OAKS and CARMICHAEL, Calif. — Ziegler has acted as exclusive financial advisor to Eskaton Properties Inc. on the sale of a skilled nursing portfolio in the greater Sacramento area.  The 391-bed portfolio consists of Eskaton Care Center Fair Oaks, Eskaton Care Center Greenhaven and Eskaton Care Center Manzanita. The communities are in proximity to each other.  Fair Oaks was built in 1983 and has 148 beds on a three-acre lot in Fair Oaks. Greenhaven was built in 1978 and has 148 beds on a 4.92-acre lot in Sacramento. …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts