Acquisitions

AcquisitionsNewsOhioSkilled Nursing

Blueprint Negotiates Sale of 105-Bed The Fairhaven in Upper Sandusky, Ohio

by Jeff Shaw

UPPER SANDUSKY, Ohio — Blueprint Healthcare Real Estate Advisors has brokered the sale of The Fairhaven in Upper Sandusky, approximately midway between Columbus and Toledo. United Church Homes sold the community, which was originally built in 1920 and features 99 skilled nursing beds and six independent living units. The undisclosed buyer specialized in buying and maintaining faith-based communities. Marketed as a value-add opportunity, the new owner plans to built a state-of-the-art replacement facility on the property.

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AcquisitionsKentuckyNewsSkilled Nursing

Senwell Brokers Sale of 60-Bed Skilled Nursing Facility in Pendleton County, Kentucky

by Jeff Shaw

PENDLETON COUNTY, Ky. — Senwell Senior Investment Advisors has arranged the sale of a 60-bed skilled nursing facility in Pendleton County. The facility was family owned since the 1960s. Prior to the COVID-19 pandemic, the building was fully occupied with a waitlist. While the pandemic presented challenges, the facility was slowly increasing its occupancy month over month. The undisclosed buyer owns facilities in the same geographical footprint. Ben Bohland facilitated the transaction.

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AcquisitionsAssisted LivingMarylandNews

Blueprint Negotiates Sale of 65-Unit Woodlands Assisted Living Community in Middle River, Maryland

by Jeff Shaw

MIDDLE RIVER, Md. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Woodlands Assisted Living, a 65-unit assisted living and memory care community in Middle River, a northeastern suburb of Baltimore. A publicly traded REIT sold the asset to Inspirations Assisted Living and Memory Care for an undisclosed price. Built in 1999, the community featured a history of performance prior to the onset of the pandemic, with occupancies north of 90 percent and operating margins approaching 30 percent. Significantly impacted by the pandemic in 2020 and 2021, the …

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AcquisitionsAssisted LivingKentuckyNews

SLIB Negotiates Sale of 114-Unit Portfolio in Kentucky

by Jeff Shaw

ELIZABETHTOWN and RICHMOND, Ky. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Acadian Cove in Richmond and Willow Creek Senior Living in Elizabethtown. Acadian Cove offers 49 units of assisted living and was built in 2009. Willow Creek feature 65 units of assisted living and memory care and was built in 1998. The seller was a REIT divesting to focus on liquidating capital for other investments. The buyer was a Northeast-based operator looking to add to its growing Midwest portfolio. The price was not disclosed. Daniel Geraghty …

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AcquisitionsAssisted LivingNewsTennessee

SLIB Brokers $10M Sale of The Waterford in Smyrna in Tennessee

by Jeff Shaw

SMYRNA, Tenn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Waterford in Smyrna. Located 25 miles southeast of Nashville, the facility features 68 units of assisted living and 24 units of memory care. Built in 2009, there is room for expansion on the 5.3-acre site. The property was 57 percent occupied at the start of the marketing. The seller is a local ownership group that developed and operated the property. The buyer is a Nashville-based owner-operator. The price was $10 million, or $108,695 per unit. Patrick …

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AcquisitionsCompany NewsNews

CBRE Acquires Appraisal Company Valuation & Information Group

by Jeff Shaw

CULVER CITY, Calif. — CBRE has acquired Valuation & Information Group (VIG), a Culver City-based provider of appraisal and market feasibility services for seniors housing and healthcare real estate throughout the United States. VIG provides valuation services for a wide variety of property types in the seniors housing and healthcare sectors, including independent living, assisted living, skilled nursing, medical office buildings, surgery centers, specialty hospitals and acute-care hospitals. In addition, the firm provides valuation services for HUD and conventional multifamily financing. VIG’s 23 employees will integrate with CBRE’s seniors housing …

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AcquisitionsNewsOhio

LTC Buys 242-Unit Campus in Ohio for $45M

by Jeff Shaw

OHIO — LTC Properties Inc. (NYSE: LTC) has made a $45 million joint venture investment for the purchase of an independent living, assisted living and memory care campus in Ohio. The campus was built between 2019 and 2022, includes a total of 242 units, and is now operated by current LTC partner, Encore Senior Living. Additionally, the transaction includes a $2.1 million lease incentive. The lease term is 10 years at an initial yield of 8.25 percent, and includes a purchase option for the seller during the third and fourth …

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AcquisitionsIndianaNews

ESI Brokers $29M Sale of Three-Property Portfolio in Indiana

by Jeff Shaw

MARION, Ind. — Evans Senior Investments (ESI) represented a local nonprofit owner’s exit from the long-term care industry. Encompassing three assets total, the senior living and skilled nursing portfolio sold for $29 million, or $97,000 per bed/unit. Built in 1982 and 1995, the portfolio was being leased to an Indiana-based regional operator, which had approximately 10 years remaining on its current triple-net lease. That operator was the buyer, exercising its right of first refusal to purchase the properties from the Marion-based seller. The operator plans to make extensive renovations to …

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AcquisitionsAssisted LivingNewsTexas

Blueprint Arranges Sale of Community in Dallas for Behavioral Health Conversion

by Jeff Shaw

DALLAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of an assisted living and memory care community in Dallas. The property was built in 1996 and renovated in 2020. The buyer plans to convert the property into a behavioral health facility. The seller and price were not disclosed. Additionally, Blueprint helped introduce and secure a real estate capital partner for the behavioral healthcare operator. The two parties entered into a long-term, triple-net lease on the asset and the capital partner will provide renovation capital for the operator.

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AcquisitionsNews

SLIB Negotiates Sale of 93-Unit Portfolio in Pacific Northwest

by Jeff Shaw

CHICAGO — Senior Living Investment Brokerage (SLIB), a Chicago-based firm, has arranged the sale of three communities in the Pacific Northwest. The facilities offer a combined 93 units and 105 beds, and were built between 1991 and 1995. The buyer is a private owner-operator group out of Texas. The seller, price, names and locations were not disclosed. Jason Punzel, Brad Goodsell, Vince Viverito and Matt Alley of SLIB handled the transaction.

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