Acquisitions

AcquisitionsAssisted LivingMichiganNews

SLIB Brokers Sale of 122-Unit Portfolio in Michigan

by Jeff Shaw

HARTLAND and GRAND BLANC, Mich. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a portfolio of two assisted living and memory care communities in Michigan. The assets are located in Harland and Grand Blanc, both south of Flint. The two properties feature a combined 122 units.   The seller was a local development partnership looking to exit the industry. The buyer was a growing Michigan-based provider looking for newer, value-add opportunities. The price was not disclosed. Bradley Clousing and Daniel Geraghty led the transaction for SLIB.

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AcquisitionsAssisted LivingIndianaNews

Blueprint Negotiates Sale of Community in Fort Wayne for Behavioral Health Conversion

by Jeff Shaw

FORT WAYNE, Ind. — Blueprint Healthcare Real Estate Advisors has arranged the sale of an assisted living and memory care community in Fort Wayne. Developed in 1996, this Northern Indiana assisted living and memory care community is located in close proximity to downtown Fort Wayne and offers large amenity spaces, private baths and outdoor programming areas. An institutional investor sold the asset to a behavioral healthcare provider with plans to convert the community. The price was not disclosed. The Blueprint team included Andrew Sfreddo, Shane Harmon, Gunnar Raney, Amy Sitzman …

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AcquisitionsAffordable HousingIndependent LivingMassachusettsNews

Pleasant Spring Communities Affiliates with HumanGood

by Jeff Shaw

BOSTON — Pleasant Spring Communities, which oversees Springhouse Senior Living Community and Mount Pleasant Home in Boston, has agreed to affiliate with HumanGood, a nonprofit operator based in California. Following regulatory and lender approval, the two communities will join HumanGood’s family of life plan and affordable senior living communities. “We chose to partner with HumanGood not only for their expertise in overseeing independent living communities like Springhouse and affordable housing communities for older adults, but also because they share our values of creating settings focused on independence, trust, and caring …

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AcquisitionsFloridaNews

Grandbridge Arranges Sale of Three Communities in Florida

by Jeff Shaw

BROOKSVILLE, LAKE PLACID and SPRING HILL, Fla. — Grandbridge Real Estate Capital’s seniors housing investment sales team has arranged the sale of three communities in Florida on behalf of a national REIT.  Florida-based TJM Properties Inc, a regional owner-operator, acquired two of the properties. The Grande is a 144-unit independent living, assisted living and memory care community in Brooksville, and Balmoral is a 125-unit assisted living and memory care community in Lake Placid.  An undisclosed, Florida-based buyer purchased the remaining property: Forest Oaks, an 80-unit assisted living and memory care …

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AcquisitionsColoradoNewsSkilled Nursing

ESI Brokers $7.6M Sale of Skilled Nursing Facility in Fort Collins, Colorado

by Jeff Shaw

FORT COLLINS, Colo. — Evans Senior Investments (ESI) has arranged the sale of a skilled nursing facility in Fort Collins for $7.6 million. The seller was an independent owner-operator. Although the number of beds was not released, the per-bed price of $79,166 equates to 96 beds. Initially built in 1968, the seller owned and operated the community for nearly two decades, achieving a four-star CMS rating. However, being its only skilled nursing facility, the company faced the challenges of today’s operating environment and lacked economies of scale. Upon marketing, the …

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AcquisitionsAffordable HousingMontanaNews

Community Preservation Partners Acquires Two Affordable Communities in Great Falls, Montana

by Jeff Shaw

GREAT FALLS, Mont. — Community Preservation Partners (CPP) has acquired two affordable seniors housing communities in Great Falls: Sunshine Village and Broadview Manor East & West. CPP plans to renovate both properties, and has partnered with The Hampstead Cos., which will be the owner and co-developer. This is the second project closing in Montana for CPP and Hampstead together, totaling three communities in the area. CPP and Hampstead’s total development investment is approximately $23.1 million, which includes the purchase price of $10.8 million and an estimated renovation cost of $72,850 …

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AcquisitionsMemory CareNewsOregon

SLIB Brokers Sale of 30-Unit Revere Court in Portland, Oregon

by Jeff Shaw

PORTLAND, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Revere Court, a 30-unit memory care community in Portland. The facility was built in 2010 and expanded in 2013. It totals 16,300 square feet on two acres of land, A REIT sold the asset to a local owner-operator for an undisclosed price. The buyer plans to spend money on capital improvements and focus improving occupancy and operations. Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the transaction. “The seller is a REIT divesting of non-core, …

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AcquisitionsAssisted LivingNewsOklahoma

Blueprint Negotiates Sale of 110-Unit Community in Tulsa, Oklahoma

by Jeff Shaw

TULSA, Okla. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 110-unit assisted living and memory care community in Tulsa. The community opened in late 2017 offering high-end design and finishes, Class A amenities, and a diverse unit mix. Despite some early traction, performance stalled going into, and through, the COVID-19 pandemic before showing signs of resurgence in the last 12 months. A national investor and its operator, both based in Seattle, sold the asset for an undisclosed price. The buyer was a growing operator with roots …

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AcquisitionsAssisted LivingNewsOhio

Blueprint Negotiates Sale of 88-Unit Community in Metro Cleveland

by Jeff Shaw

CLEVELAND — Blueprint Healthcare Real Estate Advisors has arranged the sale of an 88-unit assisted living and memory care community in metro Cleveland. The community was built in 1988. Blueprint used the availability of the Ohio Assisted Living Medicaid Waiver Program as a selling point. The seller was a public REIT and its operating partner. The buyer was a private owner-operator looking to expand in the area. The price was not disclosed. The Blueprint team included Ben Firestone, Michael Segal, Connor Doherty, Ryan Kelly and Lauren Nagle.

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AcquisitionsCCRCNewsOhio

Ziegler Arranges Sale of 246-Unit The Village at Marymount in Garfield Heights, Ohio

by Jeff Shaw

GARFIELD HEIGHTS, Ohio — Ziegler has arranged the sale of The Village at Marymount, a 246-unit senior living and skilled nursing retirement community in Garfield Heights, a suburb of Cleveland. Built in 1952, Marymount is a faith-based, nonprofit continuing care retirement community established by the Sisters of St. Joseph of the Third Order of St. Francis.  The buyer, a privately held owner and operator based in Lakewood, New Jersey, took over operations on June 30. The new owner assumed approximately $16 million of HUD debt as part of the transaction. …

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