LAS VEGAS — ZNest.com, a Las Vegas-based seniors housing referral platform. has acquired Odom Senior Care, which was launched by two-time NBA champion and former reality TV star Lamar Odom earlier this year to provide referral services for senior care. As part of the deal, Odom will assume the position of chief creative officer at ZNest.com. Odom embarked on a mission to demystify the complex world of senior living and care after recognizing the challenges families face when searching for quality, affordable care solutions. Inspired by Odom’s 96-year-old grandmother, Odom …
SOUTH DENNIS, Mass. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 128-bed skilled nursing facility in the Cape Cod town of South Dennis. Through a bifurcated process between Blueprint’s seniors housing group and behavioral healthcare group, the broker approached a targeted variety of skilled nursing investors and alternative use investors. Housing Assistance Corp. Cape Cod acquired the asset and embarked on a capital expenditure plan to revitalize the asset and will ultimately convert the community into housing. The seller and price were not disclosed. The Blueprint …
CHATTANOOGA, Tenn. — Charter Senior Living has taken over management of Summit View Senior Community in Chattanooga. Charter will rebrand the independent living and assisted living community as Charter Senior Living of Chattanooga. Charter plans to renovate and update the community’s cosmetic features and plans to maintain the current staff and add additional staff as needed.
KANSAS CITY, Kan. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of Providence Place, a 45-bed skilled nursing facility in Kansas City. Providence Place is located on the campus of Providence Medical Center. The acquisition is subject to a long-term, triple-net lease. This acquisition brings Ensign’s portfolio to 296 healthcare operations, 26 of which also include senior living operations, across 13 states.
MASON, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Anthology of Mason, a 101-unit assisted living and memory care community in the Cincinnati suburb of Mason. The seller was Anthology Senior Living, with is a subsidiary of CA Ventures. Community First Solutions, an institutional investor with an all-cash offer, acquired the property for an undisclosed price. The community opened in late 2017 with an adjacent parcel of land well suited to an independent living expansion. Anthology elected to sell the community to recycle capital. The Blueprint …
INDIANAPOLIS — Kandu Capital and its operating company, Bloom Senior Living, have acquired two senior living communities in Indianapolis out of a Fannie Mae receivership. With the move, Bloom expands its Indiana footprint to five communities. After strategically divesting $110 million of skilled nursing and behavioral health assets at peak pricing up to $225,000 per bed, Bloom has opportunistically redeployed capital into seniors housing at $30,000 per unit. Bloom is capitalizing on new distressed opportunities while its current portfolio is outpacing pre-pandemic levels and industry fundamentals are strengthening. Blueprint represented …
ST. PAUL, Minn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Wellington, a 120-unit independent living and assisted living community in St. Paul. The community was built in 1985 and encompasses 124,468 square feet on 1.7 acres. The seller was a multifamily owner/developer looking to focus on its market-rate portfolio. The buyer was a large seniors housing nonprofit looking to expand its footprint in Minnesota. The price was not disclosed. The buyer plans to convert the building to all independent living. Jason Punzel and Jake Anderson …
Roundtable participants Alex Florea, Managing Director, Blueprint Healthcare Real Estate Advisors Ross Sanders, Managing Director, Investment Sales, Berkadia Senior Housing & Healthcare Ryan Saul, Managing Director, Senior Living Investment Brokerage John Sweeny Jr., Co-Head National Senior Housing, CBRE Jay Jordan & David Kliewer, Grandbridge Real Estate Capital Cindy Hazzard, PresidentJCH Senior Housing Investment Brokerage Ken Carriero, Senior Vice President, Colliers Bill & Madison Meiser, CEO, COO, WMRG Real Estate Andrew Wittenauer, Senior Associate, Helios Healthcare Advisors By Jeff Shaw We all know the factors by now that are slowing transaction …
Are you seeing a narrowing of the bid-ask gap or indications that the investment market is thawing? Stabilization is coming By John Sweeny Co-Head, National Senior Housing CBRE We are seeing the early stages of a narrowing of the bid-ask spread as the consensus view is forecasting higher benchmark rates for longer (there’s no pending Fed cut in the short term), as owners think through decisions surrounding debt maturities or expiring caps, fund maturities or their time value of money calculus. We expect pricing for the balance of the year …
NEW ULM, Minn. — Ridgeway Senior Living and Vista Prairie Communities have completed the transition of ownership for both HADC Ridgeway senior communities located in New Ulm, approximately 90 miles southwest of Minneapolis. The two properties, Ridgeway on German and Ridgeway on 23rd, provide assisted living and memory care services in 116 apartments. Housing Alternatives Development Corp. (HADC) and Vista Prairie Communities (VPC), both Minnesota-based nonprofits, completed the ownership transition effective Sept. 30. Vista Prairie Communities, ranked in the nation’s 200 largest nonprofit senior living multi-sites, will now own 10 …