Acquisitions

AcquisitionsActive AdultColoradoNews

Bascom Group Acquires 230-Unit Avenida Lakewood Active Adult Community in Colorado

by Jeff Shaw

LAKEWOOD, Colo. — The Bascom Group, in partnership with Artemis Real Estate Partners, has acquired Avenida Lakewood, a 230-unit active adult community in Lakewood, just west of Denver. Avenida Partners built the community in 2019. The price was not disclosed. Ryan Maconachy and Courtney Crowder at Newmark brokered the transaction. Brian Eisendrath, Cameron Chalfant, Jesse Zarouk and Jake Vitta of IPA arranged the debt financing for the acquisition through Santander Bank. Apartment Management Consultants will provide property management services. The property is located near recreation, retail and entertainment options against …

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AcquisitionsMarylandMemory CareNevadaNews

Blueprint Brokers $37.5M Sale of Two Memory Care Communities in Nevada, Maryland

by Jeff Shaw

FREDERICK, Md., and SUMMERLIN, Nev. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of two newly constructed memory care communities. Located in Frederick and Summerlin, Silver Cos. developed the Class A communities with 60 units each, then leased them to Silverado. National Health Investors, a publicly traded REIT, acquired the properties for $37.5 million, representing $312,500 per unit and a yield of 7.5 percent. Silverado will stay on as operator.

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AcquisitionsCompany NewsFinanceNews

MidCap Financial Acquires Portion of Sector Financial’s Managed Healthcare Asset-Based Lending Portfolio

by Jeff Shaw

BETHESDA, Md. — MidCap Financial, a Bethesda-based lender focused on middle-market transactions, has acquired a “significant portion” of Sector Financial’s managed healthcare asset-based lending portfolio, totaling over $500 million in commitments and over $300 million in funded assets. “We are pleased to expand our portfolio and forge meaningful new partnerships with borrowers in one of our core verticals, serving as a leading capital provider to the healthcare industry and the middle market overall,” says Garrett Fletcher, product head of asset-based lending at MidCap Financial.

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AcquisitionsFrom The MagazineInvestment

Investors Hit the Brakes on M&A

by Jeff Shaw

After transaction volume rebounded greatly in 2021, sales fell 38 percent in 2022 as economic hardships mounted. By Jeff Shaw I get knocked down, but I get up again  You are never gonna keep me down  The lyrics to the song “Tubthumping” by former British rock band Chumbawamba are an apt description of the seniors housing industry because of its resiliency in the face of adversity over the past three years. The COVID-19 pandemic delivered the first blow in early 2020, leading to a rise in deaths at communities, declining …

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AcquisitionsCompany NewsInvestmentNewsOperations

LTC Seeks to Sell, Transition 35-Community Portfolio as Brookdale Elects to End Lease

by Jeff Shaw

WESTLAKE VILLAGE, Calif. — LTC Properties Inc. (NYSE: LTC ), a REIT that primarily invests in seniors housing and healthcare properties, has announced plans to diversify its portfolio through the transition and possible sale of some of the properties in its Brookdale Senior Living (NYSE: BKD) portfolio, following Brookdale’s election not to exercise its lease renewal option. Brookdale is contractually obligated to pay rent on the portfolio of 35 assisted living communities across eight states through the end of the lease term on Dec. 31, 2023. The portfolio represents 8.4 …

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AcquisitionsAffordable HousingNewsVermont

Affordable Housing Investment Brokerage Negotiates Sale of Three Affordable Communities in Vermont

by Jeff Shaw

WILLISTON and ST. ALBANS, Vt. — Affordable Housing Investment Brokerage Inc. (AHIB) has negotiated the sale of a three-property affordable seniors housing portfolio in the greater Burlington area. Consisting of 191 units across all properties, the three communities — Hawk’s Nest in St. Albans, and Falcon Manor and Eagle Crest in Williston — serve independent senior tenants and were all developed under the Section 42 Low Income Housing Tax Credit program. The price was not disclosed. AHIB’s Kyle Shoemaker represented both the seller, a local development company, and the buyer, …

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AcquisitionsIllinoisNews

Cushman & Wakefield Brokers $20M Sale of Historic River Glen of St. Charles in Metro Chicago

by Jeff Shaw

ST. CHARLES, Ill. — Cushman & Wakefield has arranged the sale of River Glen of St. Charles, located within the former Delnor Hospital in St. Charles, which was built in 1939. Located approximately 35 miles west of Chicago, the community features 106 units of independent living, assisted living and memory care. The original hospital building has been converted into a modern, well-amenitized campus. Bridge Investment Group sold the asset to Citrine Senior Communities, a joint venture between affiliates of Citrine Investment Group and Jaybird Capital, for $20 million. Jaybird Senior …

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AcquisitionsConnecticutNewsSkilled Nursing

Blueprint Negotiates Sale of 180-Bed Skilled Nursing Facility in Wallingford, Connecticut

by Jeff Shaw

WALLINGFORD, Conn. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a vacant, 180-bed skilled nursing facility in Wallingford, approximately midway between Hartford and New Haven. The buyer was a Florida-based developer with local ties to Wallingford. No further details were disclosed.

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AcquisitionsAssisted LivingFloridaNews

Grandbridge Arranges Sale of Three Communities in Florida

by Jeff Shaw

BRADENTON, SANFORD and PINELLAS PARK, Fla. — Grandbridge Real Estate Capital’s seniors housing investment sales team has arranged the sale of three assisted living and memory care communities in Florida. A national REIT sold the communities in three separate transactions. The buyers were a national investor based in Florida and two owner-operators with a presence in the region. The prices were not disclosed. The properties include the 112-unit Bradenton Oaks in Bradenton, the 94-unit Renaissance Retirement Center in Sanford, 145-unit FL Bayside Terrace in Pinellas Park. The Renaissance was built …

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AcquisitionsIndependent LivingNewsOregon

Cushman & Wakefield Brokers $57.8M Sale of The Alexander Bend Independent Living Community in Bend, Oregon

by Jeff Shaw

BEND, Ore. — Cushman & Wakefield has arranged the sale of The Alexander Bend, a 136-unit independent living community in Bend. Opened in late 2019 and representing the city of Bend’s newest independent living offering in over 10 years, The Alexander Bend features 3.1 acres of adjacent land. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker and Bailey Nygard represented the seller, BPM Real Estate Group, in the transaction. The buyer was Touchmark, which renamed the community Touchmark at Pilot Butte and will operate it alongside Touchmark …

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