NEW MEXICO — Evans Senior Investments (ESI) has arranged the sale of a skilled nursing community on behalf of a Southwest regional operator. The asset is located in the northwestern part of New Mexico and included 101 skilled nursing beds. Despite the community being located in a rural market, the asset maintained an occupancy average of 83 percent during the marketing process. Upon closing, the community was 95 percent occupied. A West Coast-based group acquired the asset for $16.5 million or $163,366 per bed. It is the buyer’s first property …
TEXAS — Blueprint Healthcare Real Estate Advisors has brokered the sale of seven skilled nursing facilities totaling 564 beds in Central Texas and East Texas. The assets on average were built in 1969, and had an average licensed capacity of 80 beds per facility. Blueprint positioned the deal as an opportunity for an incoming owner or operator to acquire a well-established skilled nursing portfolio, integrate the facilities into an existing regional portfolio, and implement key cost control measures. The buyer was a regional owner-operator. The seller and price were not …
KENT, Wash. — Preservation Equity Fund Advisors LLC (PEF Advisors) has acquired Webster Court, a 92-unit, four-story affordable seniors housing community in Kent, 20 miles south of Seattle. PEF Advisors has budgeted approximately $1.2 million, or $12,915 per unit, to address deferred maintenance, improve curb appeal, and elevate the quality of housing and competitiveness of the property. The seller and price were not disclosed. Resident parking consists of 38 uncovered spaces. All 92 apartment units are one-bedrooms and average 458 square feet. As of March 2023, the property was 88 …
CHANTILLY, Va. — Hamister Real Estate Equity Fund III LP, a private estate fund sponsored by Hamister Group, has acquired Chantilly Heights Memory Care in Chantilly, approximately 25 miles west of Washington, D.C. It is the second Virginia assisted living and memory care facility to come under the Hamister Group umbrella. The group has operated Chantilly’s sister facility, Lansdowne Heights Memory Care in Leesburg, since 2020. Formerly named Arbor Terrace Fairfax, Chantilly Heights Memory Care offers two separate neighborhoods within the 35,550-square foot facility. Opened in 2017, the complex consists …
BEAUFORT, S.C. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 170-bed skilled nursing facility in Beaufort, a coastal city between Savannah and Charleston. The facility was constructed in several phases, beginning in 1969, and features predominantly semi-private rooms. Prior to the pandemic, the asset had demonstrated an ability to generate positive cash flows with occupancies exceeding 90 percent, but was significantly impacted by census and staffing headwinds, generating millions of dollars in operating losses. A REIT sold the asset to a New York-based owner-operator looking to …
DUNEDIN, Fla. — Acts Retirement Life Communities and Mease Life have signed a letter of intent to explore an affiliation relationship. An affiliation in the nonprofit world is similar to an acquisition in the for-profit space. Mease Life is a continuing care retirement community (CCRC) in Dunedin that is home to approximately 350 residents. Under the proposed agreement, Mease Life will become an Acts affiliate member, and part of a network of CCRCs operated and managed by Acts, the nation’s third largest not-for-profit senior living organization. A due diligence review …
NEWTON, Mass. — Office Properties Income Trust (NASDAQ: OPI) has entered into a definitive merger agreement whereby the office REIT will acquire all the outstanding common shares of Diversified Healthcare Trust (NASDAQ: DHC), a REIT that owns properties in the medical office, life sciences and seniors housing sectors. The combined company will have approximately $12.4 billion of total gross assets under management, representing 539 properties across 40 states and Washington, D.C. The portfolio comprises about 264 seniors housing communities, 10 triple-net-leased wellness centers and 265 medical office, traditional office and …
BOUNTIFUL, Utah — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 145-unit independent living, assisted living and memory care community in Bountiful, approximately 10 miles north of Salt Lake City. The facility was built in 1978 expanded in 1999. The property totals 124,673 square feet on approximately 2.4 acres of land. The buyer was a California-based private equity group partnering with a Salt Lake City-based management company. They plan to invest heavily in remodeling the community and improving the overall performance. Vince Viverito and Brad Clousing of …
BURLESON, Texas, and OVERLAND PARK, Kan. — CareTrust REIT Inc. (NYSE: CTRE) has acquired two skilled nursing facilities: AdventHealth Care Center Burleson, a 178-bed facility in Burleson, and AdventHealth Care Center Overland Park, a 102-bed facility in Overland Park, Kansas. The Overland Park facility represents CareTrust’s entry into the Kansas market. Blueprint Healthcare Real Estate Advisors represented the seller, AdventHealth, in the transaction. The acquisition of the Burleson facility will be an add-on to CareTrust’s existing lease with Austin, Texas-based operator Momentum Skilled Services, which will replace the outgoing operator. …
SANDY SPRINGS, Ga. — PruittHealth has acquired Dogwood Forest of Dunwoody, an assisted living community in the Atlanta suburb of Sandy Springs. Under the new ownership, the property is now called PruittPlace – Sandy Springs. Details regarding the seller, price and number of units were not disclosed.