LA GRANGE, WESTMONT, PROSPECT HEIGHTS and LAKE ZURICH, Ill. — Senior Lifestyle has acquired four communities in the Chicago metropolitan area: Aspired Living of La Grange Aspired Living of Westmont Aspired Living of Prospect Heights Azpira Place of Lake Zurich The communities offer assisted living, memory care and supportive living residences in the northern and southern suburbs of Chicago. Further details on the properties were not disclosed.
LEXINGTON, Ky. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Legacy Reserve at Fritz Farm in Lexington. The property opened in 2017 and comprises 114 independent living, 38 assisted living and 15 memory care units. Atlas Senior Living sold the asset, which was 98 percent occupied. KIRCO was the buyer and will keep Atlas on as the operator. The price was not disclosed.
NASHVILLE, Tenn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Grace Manor, a 42-unit assisted living community in Nashville. A local church built Grace Manor in 2010. The property struggled with occupancy and profitability during the COVID-19 pandemic. As a result of the performance, the property was voluntarily closed in November of 2021. The seller (which purchased the HUD note at auction) is a private investment firm that manages alternative assets for high-net-worth individuals and institutional investors. The buyer and price were not disclosed. Patrick Burke and …
PENNSYLVANIA — Blueprint Healthcare Real Estate Advisors has arranged the sale of a skilled nursing portfolio totaling more than 1,000 beds in Pennsylvania. A public REIT and its operating partner sold the two campus locations, which alsofeature independent living, personal care and memory care beds. Although specific names and locations were not disclosed, the properties are concentrated in northeast and central Pennsylvania. The portfolio was marketd as a value-add opportunity for an incoming buyer to capitalize on strong pre-pandemic financial performance along with substantial Medicaid reimbursement rate enhancements recently passed …
CARROLLTON, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 62-unit assisted living and memory care community in Carrollton, a suburb of Dallas. The community totals approximately 40,000 square feet on a 3.6-acres plot. The seller is a private equity group with a regional seniors housing portfolio. The Dallas-based buyer is a private investment group with a national seniors housing portfolio partnering with a local operator. The price was not disclosed. Matthew Alley and Jeff Binder of SLIB handled the transaction. “SLIB was able to help …
NEW ROCHELLE, N.Y. — Evans Senior Investments (ESI) has arranged the sale of a skilled nursing community in New Rochelle, a suburb of New York City on Long Island Sound. The facility was originally constructed in 1965 and is licensed for 60 beds. The seller was an independent owner-operator that operated the facility for 30 years, but sought to exit the long-term care industry. A New York-based owner acquired the property for an undisclosed price. Approval of the new operator is pending. “Evans Senior Investments was successfully able to navigate …
MOBILE, Ala. — Proveer has acquired Vitality Living Regency, a seniors housing community in Mobile. The community features 70 assisted living units and 20 memory care units. The acquisition marks the eighth overall for Proveer, its fifth in the state of Alabama and second in Mobile. Blueprint Healthcare Real Estate Advisors brokered the sale. Proveer’s business model is a value-add strategy that includes purchasing communities at a relatively low basis, renovating the buildings and rebranding them under the Proveer flag. The community is now known as Proveer at Port City. …
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.
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.
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 …