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Acquisitions

AcquisitionsCCRCMichiganNews

Blueprint Brokers Sale of 374-Unit Samaritas CCRC in Grand Rapids, Michigan

by Jeff Shaw

GRAND RAPIDS, Mich. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a continuing care retirement community (CCRC) in Grand Rapids. Blueprint was selected by Samaritas, a Michigan-based nonprofit owner and operator, to negotiate the disposition. Since its original construction in 1977, the 40-acre community has grown to include 24 independent living cottages, 148 independent living apartments, 17 assisted living units, a 60-unit memory care community, and a 125-bed skilled nursing and long-term care facility. The buyer was Optalis Healthcare, a post-acute rehabilitation and long-term care provider across …

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AcquisitionsIllinoisMemory CareNews

Blueprint Brokers Receivership Sale of 42-Unit Gurnee Place Memory Care in Illinois

by Jeff Shaw

GURNEE, Ill. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Gurnee Place Memory Care, a 42-unit memory care community located in Gurnee, approximately midway between Chicago and Milwaukee.  Blueprint was engaged by a receiver to maximize proceeds for the bank and stakeholders involved. At the time of marketing, the community was 90 percent occupied and cash-flowing. Blueprint marketed the opportunity by promoting the upside of the strong performance trends and implementing minor expense efficiencies through regional operations. The buyer was a Minnesota-based private equity firm previously focused …

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AcquisitionsNebraskaNewsSkilled Nursing

ESI Arranges Sale of 97-Bed Holmes Lake Rehabilitation & Care Center in Lincoln, Nebraska

by Jeff Shaw

LINCOLN, Neb. — Evans Senior Investments (ESI) has arranged the sale of Holmes Lake Rehabilitation & Care Center, a skilled nursing facility in Lincoln.  The transaction was executed on behalf of an independent owner-operator that was ready to transition out of the industry. A regional owner-operator acquired the asset for an undisclosed price. Holmes Lake Rehabilitation & Care Center was built in 1974. Located on a seven-acre property, the facility features 97 skilled nursing beds spread across 51 rooms. When ESI began the marketing of Holmes Lake, the occupancy rate …

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AcquisitionsMassachusettsNewsOperations

Blueprint Negotiates Tenant Replacement for Hathorne Hill in Danvers, Massachusetts

by Jeff Shaw

DANVERS, Mass. — Blueprint Healthcare Real Estate Advisors has arranged a new operator for Hathorne Hill, a skilled nursing facility in the Boston suburb of Danvers. Blueprint was engaged by both the developer landlord and existing tenant to secure a new operator and lease arrangement.  Located across the street from Beverly Hospital at Danvers and within close proximity to several other referral sources in this densely populated suburb, the facility was constructed in 2012 and is the newest skilled nursing facility serving the local submarket. The facility’s census quickly rebounded …

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AcquisitionsNewsPeople

Distinctive Living Acquires Lexor Living Brand, Hires Founder Shelley Esden as Chief Operating Officer

by Jeff Shaw

FREEHOLD, N.J. — Distinctive Living, a Freehold-based senior living management and development company, has hired Shelley Esden as executive vice president and chief operating officer.  Esden brings a wealth of industry experience including her role as founder and CEO of Lexor Living and her 15-year tenure at Sonata Senior Living, where she advanced from senior vice president of operations to COO and ultimately CEO.  With Esden’s appointment, Distinctive also acquires Lexor Living, bolstering the company’s offerings in the luxury senior living category. Distinctive Living currently operates 46 communities and has …

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AcquisitionsNews

ESI Arranges Sale of Five-Property Portfolio in the Southwest

by Jeff Shaw

DENVER — Evans Senior Investments (ESI), a Denver-based brokerage firm, has arranged the sale of a five-property seniors housing portfolio in the Southwest.  The portfolio comprises a mix of skilled nursing beds and seniors housing units. The transaction was carried out on behalf of a regional owner-operator. The current operator agreed to merge with a new operator and collaboratively buy the assets. The specific names and locations were not disclosed, nor was the price.

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AcquisitionsAssisted LivingNewsOhio

Confluent Senior Living Sells 110-Unit Community in Beavercreek, Ohio

by Jeff Shaw

BEAVERCREEK, Ohio — Ziegler has advised Confluent Senior Living on the sale of a 110-unit assisted living and memory care community in Beavercreek, a suburb of Dayton. Confluent Senior Living is a subsidiary of Confluent Development, which is a full-service real estate investment and development firm. Community First Solutions purchased the community for an undisclosed price and took over operations. Community First is a nonprofit health and human services organization.

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AcquisitionsAssisted LivingNewsUtah

SLIB Brokers Sale of 106-Unit Truewood Taylorsville in Utah

by Jeff Shaw

TAYLORSVILLE, Utah — Senior Living Investment Brokerage (SLIB) has arranged the sale of Truewood Taylorsville, a 106-unit assisted living facility with 112 licensed beds in Taylorsville, just south of Salt Lake City. Truewood Taylorsville was built in 1975 and renovated in 1995 and 1996. The community totals 68,970 square feet on approximately four acres. The seller is a REIT divesting to focus on core markets within its portfolio. The buyer is a private owner growing its portfolio in Utah. The price was not disclosed The buyer intends to expand the …

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AcquisitionsAssisted LivingFloridaNewsSouth Carolina

Sonida Acquires Eight-Asset Portfolio in Florida, South Carolina for $103M

by Jeff Shaw

FLORIDA and SOUTH CAROLINA — Sonida Senior Living Inc. (NYSE: SNDA), a Dallas-based owner, operator and investor, has agreed to acquire eight senior living communities in northern Florida and South Carolina. Totaling 555 units of assisted living and memory care, Sonida will pay $103 million for the portfolio. The seller was not disclosed. “With this planned acquisition, Sonida will further broaden its high-quality and regionally focused real estate portfolio with newer vintage communities in mid-to-large metropolitan areas with favorable growth prospects,” says Brandon Ribar, president and CEO. The eight communities …

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AcquisitionsArizonaAssisted LivingNews

Joint Venture Acquires 108-Unit MorningStar at Arcadia in Phoenix

by Jeff Shaw

PHOENIX — A joint venture between Sabal Investment Holdings, 12 North Capital LLC and affiliates of MorningStar Senior Living has acquired MorningStar at Arcadia in the Biltmore neighborhood of Phoenix. The property consists of 78 assisted living suites across studio, one-bedroom, and two-bedroom floorplans as well as 30 memory care suites. The community was purchased in a special situation transaction via auction facilitated through a federal receivership. The venture is planning a targeted capital expenditure program at the asset to facilitate a series of enhancements aimed at improving resident experience, …

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