Acquisitions

GEORGIA — Blueprint Healthcare Real Estate Advisors has negotiated the sale of three seniors housing communities in Georgia. Located in secondary markets throughout the state, the portfolio totals 156 units of assisted living and memory care. While at the time of sale the communities were not stabilized, the portfolio was well-positioned to capitalize on the strong demand for affordable senior care within their respective local markets, according to Blueprint. The buyer was a regional owner-operator that has been actively expanding within the Southeast. The seller and price were not disclosed.

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WILDOMAR, Calif. — The Mogharebi Group (TMG) has arranged the sale of Wildomar Senior, a 284-unit seniors housing community in Wildomar, a city in Southern California’s Inland Empire. TMG represented the seller, Craig Thralls, who developed the property in 2000. The buyer was a Los Angeles-based private investment group. The fully occupied property features 176 independent living apartments and 108 assisted living units.

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KENANSVILLE, N.C. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Kenansville Health and Rehab, a skilled nursing facility in Kenansville. The 92-bed skilled nursing facility is located 75 miles southeast of Raleigh and was built in 1975 adjacent to ECU Health Duplin Hospital. With no direct local competition, the facility consistently maintained stable census and quality mix levels. The seller was an ownership group led by a Georgia-based entrepreneur. The operator had recently announced its plan to exit the industry. The buyer was an investor seeking growth …

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CARPINTERIA, Calif. — Blueprint Healthcare Real Estate Advisors has brokered the sale of GranVida Senior Living, a 70-unit assisted living and memory care community in the Central Coast city of Carpinteria. The community is situated in a high barrier-to-entry suburb between Santa Barbara and Ventura. The asset benefits from being the only seniors housing community within 10 miles. An institutional ownership group sold the asset to Blake Parsons, owner of RBP Communities, for an undisclosed price.

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WISCONSIN — Evans Senior Investments (ESI) has brokered the sale of a 120-unit assisted living and memory care community in Wisconsin. National Health Investors (NHI) sold the property to Eden Senior Care. The name and location of the property, as well as the price, were not disclosed. At the time when the operator was brought in during 2019 by NHI, the community was experiencing a high usage of Medicaid waivers and the community was struggling overall. Over the past three years, the operator was able to transition the community to …

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VIRGINIA — Evans Senior Investments (ESI) has arranged the sale of a three-property skilled nursing portfolio in Virginia. Hill Valley Healthcare sold the assets to an East Coast-based buyer just entering the seniors housing industry. The $59 million price tag equates to $184,375 per bed. The assets are located in the eastern part of Virginia and totaled 270 skilled nursing beds and 50 assisted living beds. Despite two buildings being located in rural markets, the portfolio maintained an occupancy average of 86 percent during the marketing process. Accompanied with a …

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SUN PRAIRIE and WAUNAKEE, Wis. — Trilogy Health Services has taken over operations at Sun Prairie Senior Living in Sun Prairie and Waunakee Valley Senior Living in Waunakee, the company’s first properties in Wisconsin. The last time Trilogy expanded into a new state was in 2006 when the company added The Oaks at Northpointe Woods in Battle Creek, Michigan to its roster of campuses. Trilogy now operates nearly 130 senior living communities across five states. Waunakee Valley offers residents independent living, assisted living, skilled nursing and rehabilitation services. Sun Prairie …

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WESTLAKE VILLAGE, Calif. — LTC Properties Inc. (NYSE: LTC), a Westlake Village-based REIT, has sold two skilled nursing centers in New Mexico. The two centers, totaling 235 beds, were sold for $21.3 million, generating proceeds of $20.8 million. The proceeds will be used to pay down the company’s unsecured revolving line of credit. LTC anticipates recording a gain on sale of approximately $15 million in first-quarter 2023. As a result of the sale, the two properties were removed from the operator’s master lease, and LTC provided a rent decrease of 7.5 …

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MERRILLVILLE, Ind. — Evans Senior Investments (ESI) has arranged the sale of a 48-unit assisted living and memory care community in Merrillville. A regional family ownership group sold the asset to Lloyd Jones for an undisclosed price. The community was originally purpose built for memory care in 2016 and received in-place rates above $5,000 a month. In late 2019, the community began accepting assisted living residents due to slow lease-up velocity of the existing memory care units. The community experienced multiple bans on admissions due to COVID-19 outbreaks, with the …

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SHOREWOOD, Wis. — JLL Capital Markets has arranged the sale of and acquisition financing for the Oaks of Shorewood, a 101-unit active adult community in Shorewood, a northern suburb of Milwaukee. The four-story building offers a mix of one- and two-bedroom units averaging 1,115 square feet. The Oaks of Shorewood is near to Lake Michigan, the Milwaukee River, Hubbard Park & Beer Garden and the 50-acre Estabrook Park and Village’s main drive, which is known for eclectic boutiques and trendy restaurants. The affluent area boasts average home values of $425,000 …

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