Acquisitions

AcquisitionsAssisted LivingNewsWisconsin

Blueprint Brokers Sale of 80-Unit Community in Appleton, Wisconsin

by Jeff Shaw

APPLETON, Wis. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of an 80-unit assisted living and memory care community in Appleton, near Lake Winnebago southwest of Green Bay. A national developer/investor engaged Blueprint to create an exit strategy in order to maximize value for more than a dozen geographically disparate, older-vintage communities. These communities were purchased in a sizeable portfolio transaction pre-COVID, under a value-add thesis contemplating operator transitions to create regional groupings coupled with the intent to invest in renovations and repositioning. Unfortunately, the cumulative impact of …

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AcquisitionsCompany NewsIllinoisMissouriNews

Lutheran Senior Services Agrees to Acquire St. Louis Home Health

by Jeff Shaw

ST. LOUIS — Lutheran Senior Services (LSS), a nonprofit provider of care, services and senior living for older adults in Missouri and Illinois, has agreed to acquire St. Louis Home Health (SLHH) for an undisclosed price. LSS, which already provides home health services among its offerings, cited the SLHH’s orthopedic expertise as a key reason for the acquisition, as well as its extended footprint in Illinois. The transaction is expected to close at the end of this month.

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AcquisitionsAssisted LivingIndianaNews

Ziegler Negotiates Sale of 41-Unit BrightStar Senior Living Fort Wayne in Indiana

by Jeff Shaw

FORT WAYNE, Ind. — Ziegler, as exclusive financial advisor to Marquee Capital (formerly Berengaria Development), has arranged the sale of BrightStar Senior Living Fort Wayne. The community offers 41 units of assisted living and memory care in Fort Wayne. Marquee Capital developed the property, which BrightStar Senior Living has operated since it opened in 2018. The 3.25-acre asset is located in the Pine Valley neighborhood, eight miles north of downtown Fort Wayne. Lutheran Life Villages (LLV) purchased the property and took over operations. LLV is a local, faith-based, nonprofit organization …

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AcquisitionsDevelopmentInvestmentOperationsPeopleVideosWebinars

Webinar: What Will 2024 Hold for Seniors Housing Investment & Acquisition Activity?

by Sarah Daniels

    The Dec. 7 webinar “What Will 2024 Hold for Seniors Housing Investment & Acquisition Activity?” covered where the industry stands now and how experts are preparing to succeed in 2024. Webinar panelists listed factors like interest rates, wages, insurance costs, inflation, margin compression, resident move-ins and bank short sales as market indicators for the health of seniors housing. Learn their outlook and forecasts for what the industry may face in the new year. The speakers covered transaction activity, cap rate trends, capital availability and pricing, as well as the …

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AcquisitionsNewsTexas

Artemis Real Estate Partners Buys 221-Unit Franklin Park Alamo Heights in San Antonio

by Jeff Shaw

SAN ANTONIO — JLL Capital Markets has arranged the sale of Franklin Park Alamo Heights, a seniors housing community in San Antonio. The transaction involves Artemis Real Estate Partners taking over as equity partner from Harrison Street, while retaining Franklin Park as part owner in the joint venture. JLL also placed the acquisition financing with a Freddie Mac loan for the buyer. Neither the price nor the amount of the financing were disclosed. Franklin Park Alamo Heights features 117 independent living units, 64 assisted living units and 40 memory care …

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AcquisitionsColoradoMemory CareNews

SLIB Brokers Sale of 40-Unit Renew Saddle Rock Memory Care in Aurora, Colorado

by Jeff Shaw

AURORA, Colo. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Renew Saddle Rock Memory Care in Aurora, approximately 20 miles southeast of Denver. The asset features 40 units and 52 beds and was built in 2015. The property totals 38,585 square feet on approximately 4.7 acres of land. The seller was an out-of-state private equity group with a third-party operator divesting the asset to exit the senior living space. The buyer was an experienced Denver-based owner-operator looking to grow its portfolio. The price was not disclosed. Vince …

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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 …

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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 …

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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.

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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 …

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