Acquisitions

AcquisitionsFinanceIllinoisNews

CBRE Arranges Acquisition Financing for 348-Unit Lexington Square of Elmhurst in Illinois

by Jeff Shaw

ELMHURST, Ill. — CBRE has arranged an undisclosed amount of financing for the sale of Lexington Square of Elmhurst, a 348-unit independent living and assisted living community in Elmhurst, approximately 17 miles west of Chicago. The property was built in 1990. The borrower, Focus Healthcare Partners LLC, has purchased the asset and rebranded it as The Roosevelt at Salt Creek. Focus plans to execute a significant capital improvement plan and convert the existing entrance-fee CCRC model to rental units. Aron Will, Matt Kuronen and Michael Cregan of CBRE National Senior …

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AcquisitionsNewsWisconsin

Ziegler Advises on Sale of 101-Unit Terova Senior Living in Mequon, Wisconsin

by Jeff Shaw

MEQUON, Wis. — Ziegler has acted as exclusive financial advisor to Marquee Capital on the sale of Terova Senior Living, a 101-unit senior living community in Mequon, a northern suburb of Milwaukee. Marquee Capital is the real estate company affiliated with Marcus Investments LLC, a family office. Located in one of the most affluent suburbs in Wisconsin, the community represented the only senior living asset owned by Marquee in the state. Terova was built in 2005. Between 2020 and 2022, Marquee Capital renovated and repositioned the community as a for-profit …

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AcquisitionsIndependent LivingNevadaNews

SLIB Negotiates Sale of 131-Unit Mountain Lakes Estates in Reno, Nevada

by Jeff Shaw

RENO, Nev. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Mountain Lakes Estates, a 131-unit independent living community in Reno. The property was built in 2020 and totals 120,316 square feet on approximately 5.2 acres of land. The seller was a regional owner-operator located in the West. The buyer was a private equity company based in New York that specializes in active adult and independent living communities. The price was not disclosed. Jason Punzel, Dave Balow, Vince Viverito and Brad Goodsell of SLIB handled the transaction. “The …

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AcquisitionsFinanceNewsOklahomaSkilled Nursing

Lument Arranges $10.7M Acquisition Loan for Bellevue Health & Rehabilitation in Oklahoma City

by Jeff Shaw

OKLAHOMA CITY — Lument has arranged a $10.7 million loan to facilitate the acquisition of Bellevue Health & Rehabilitation, a 119-unit, 150-bed skilled nursing facility (SNF) in Oklahoma City. Bill Wilson, managing director with Lument in Kansas, led the transaction for Lument. To provide funding for the acquisition, Wilson tapped Lument’s debt syndications team, led by Steve McGee and Sangjin Na, to place the loan with a community bank. Proceeds from the loan were utilized by the long-time operator to acquire 100% ownership of the facility. Prior to the acquisition, …

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AcquisitionsAssisted LivingGeorgiaNewsTennessee

SLIB Negotiates Sale of 228-Unit Portfolio in Tennessee, Georgia

by Jeff Shaw

MADISON, Tenn., and MARIETTA and JONESBORO, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of three assisted living and memory care communities in the Southeast. Located in Madison, Marietta and Jonesboro, the portfolio totals 228 units built in 1999 and 2000. The properties are 46,483, 52,642, and 52,157 square feet, and are situated on approximately 3.69, 9.66, and 6.04 acres of land. The seller was a western US owner-operator divesting to focus on its core Western markets as these were outliers in their portfolio. The buyer is …

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AcquisitionsIndianaNewsOhio

Blueprint Arranges Investor Succession for 11-Property Midwest Portfolio

by Jeff Shaw

OHIO and INDIANA — Blueprint Healthcare Real Estate Advisors advised on the execution of an investor succession plan, involving the sale of an 11-asset, 1,400-unit portfolio in the Midwest. The portfolio, geographically clustered in Indiana and Ohio, featured run rate total revenue and EBITDAR of approximately $56 million and $12 million, respectively, at closing. The buyer was a company with existing Midwest expertise and infrastructure. No further details were disclosed.

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AcquisitionsAssisted LivingNewsOhio

SLIB Brokers Sale of 81-Unit Landing of Long Cove in Mason, Ohio

by Jeff Shaw

MASON, Ohio — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Landing of Long Cove, an 81-unit assisted living and memory care community in Mason, approximately 25 miles northeast of Cincinnati. Built in 2011, the community features 61 assisted living units and 20 memory care units. The seller sought to divest this asset to focus attention on communities that more closely align with its current footprint. The buyer was looking to add to its existing footprint throughout the Midwest strategically. The price was not disclosed. Daniel Geraghty …

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AcquisitionsNews

SLIB Arranges Sale of 130-Unit Portfolio in Rocky Mountains

by Jeff Shaw

GLEN ELLYN, Ill. — Senior Living Investment Brokerage (SLIB), a Glen Ellyn-based broker, has arranged the sales of two seniors housing communities in the Rocky Mountains states. The facilities total 130 units and were built in 1996 and 1999. The properties are 32,897 and 32,904 square feet, and are situated on approximately 1.81 and 4.03 acres of land. The buyer is a large, regional owner-operator based out of California with over 30 communities nationwide. The new owner will invest money in capital improvements and continuing the strong operational performance. The …

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AcquisitionsFinanceNew YorkNewsSkilled Nursing

CFG Provides $32.9M Acquisition Loan for Skilled Nursing Facility in New York State

by Jeff Shaw

NEW YORK STATE — Capital Funding Group (CFG) has provided $32.9 million in bridge-to-HUD financing for the acquisition of a skilled nursing facility. The facility, which is located in New York, supports 200 beds. Further details were not disclosed. Andrew Jones originated the transaction.

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AcquisitionsAssisted LivingNewsTexas

Blueprint Negotiates Sale of 30-Unit Community in San Angelo, Texas

by Jeff Shaw

SAN ANGELO, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 30-unit assisted living and memory care community in the West Texas city of San Angelo. A publicly traded REIT sold the asset, which was built in 2012. The two adjacent buildings sit on 2.8 acres, including room for future expansion. As the newest seniors housing community in San Angelo, the property historically generated strong operational performance with occupancies exceeding 85 percent in 2019, while generating cash flows of $1.5 million at a 34 percent margin …

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