CHATTANOOGA, Tenn. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 48-unit assisted living community in Chattanooga. An institutional REIT sold the asset to an investor looking to grow its regional platform in the Southeast. The price was not disclosed. The building was constructed in 2000 and historically has performed well, according to Blueprint. Kyle Hallion and Brooks Blackmon led the transaction for Blueprint.
BROKEN ARROW, Okla. — JLL Capital Markets has arranged the sale of Prairie House, a 105-unit assisted living and memory care community in the growing Tulsa suburb of Broken Arrow. JLL represented the seller, Prevarian Senior Living, and procured the buyer, TUL ALF 3 LLC. Legend Senior Living, an affiliate of the buyer, will operate the community. The price was not disclosed. Prairie House features 73 assisted living units, ranging from studio to two-bedroom units, and 32 studio memory care units. The property was built in 2016. The community is part …
VERNON HILLS, Ill. — Blueprint Healthcare Real Estate Advisors has brokered the $9.3 million sale of Springs of Vernon Hills in Vernon Hills, a northern suburb of Chicago. The standalone memory care community was built in 2015 and features 70 units. The seller was The Long Hill Company, a nationally focused turnaround management firm serving as the court-appointed receiver for the property. After falling to 58 percent occupied in 2021 following Illinois’ strict COVID-19 lockdowns, the community was placed into receivership. Under Long Hill’s management, the community steadily regained census, …
BUFORD, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 77-unit assisted living and memory care community in Buford, approximately 35 miles northeast of Atlanta. The community was built in 2012 and totals 51,063 square feet on 2.5 acres of land. The buyer is a Florida-based regional owner-operator that plans to invest in cosmetically updating the community and improve overall performance through continued lease-up and expense efficiencies. The seller was a private REIT that had purchased this asset as part of a larger portfolio and was …
VIRGINIA BEACH, Va. — Evans Senior Investments (ESI) has arranged the sale of Beth Sholom Village, a seniors housing community in Virginia Beach. The seller is a mission-based nonprofit group. A Mayland-based owner-operator was selected as the buyer. The price was not disclosed. Beth Sholom Village opened in 1980 with 120 licensed skilled nursing beds. The seniors housing component was added in 2004 and includes 56 assisted living and 18 memory care units. Virginia has an existing certificate of public need to develop new skilled nursing and assisted living communities, …
FRANKLIN and HENDERSONVILLE, Tenn. — CBRE has arranged $32.2 million in financing for the acquisition of Vitality Living Franklin and Vitality Living Hendersonville, both located in high-growth suburbs of Nashville. The borrowers were Winterpast Capital Partners (WCP), Scribner Capital and its institutional partner, and Broadview Real Estate Partners. Vitality Living, WCP’s wholly owned operating platform, will manage the communities under a traditional third-party agreement. The portfolio consists of 256 assisted living and memory care units. Aron Will, Tim Root and Michael Cregan of CBRE National Senior Housing, arranged the financing, …
CHILLICOTHE, Ill. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Legacy & Evergreen Place, a 73-unit assisted living and memory care community in Chillicothe, located along Goose Lake approximately 140 miles southwest of Chicago. The asset was part of a larger portfolio of skilled nursing facilities. The seller of this building, which is buying the remaining portfolio, elected to carve out this asset because the company specializes in skilled nursing. The buyer is a Midwest-based owner that built the community in 2015 and was looking to …
The June 29 webinar “Seniors Housing Success Stories — Companies that are Rising Above the Headwinds“ focused on what leading seniors housing firms are doing to alter their businesses, streamline operations, increase occupancy and strategize in terms of deal volume and investment. Industry difficulties, including labor shortages, inflation and interest rates, have highlighted the need for expertise and well-informed approaches to the seniors housing sector recovery. Click to watch this hour-long discussion that considers both operations and trends in transaction activity. See how strategies and outlooks have shifted since last …
LENOX, Iowa — Senior Living Investment Brokerage (SLIB) has arranged the sale of Vintage Park, a 40-unit assisted living and memory care community in Lenox, 25 miles north of the state border with Missouri. The community totals 3,000 square feet on four acres of land. The seller is a local owner and operator looking to exit the seniors housing sector. The buyer is a joint venture between an East Coast investor and a growing Midwest operator. The price was not disclosed. This property is the second acquisition in the state …
NEW YORK CITY — Capital Funding Group (CFG) has provided $8.8 million in mezzanine financing for the acquisition of a skilled nursing facility in Brooklyn. The mezzanine debt was part of a financing package of $60.8 million. The other funds were secured through a syndication effort with a bank CFG has partnered with in the past. The facility features 240 beds. Further details were not disclosed. Craig Casagrande and Andrew Jones of CFG originated the transaction.
