Acquisitions

AcquisitionsAssisted LivingNewsUtah

Blueprint Negotiates Sale of Two Communities in Utah

by Jeff Shaw

UTAH — Blueprint Healthcare Real Estate Advisors has arranged the sale of two Class A assisted living and memory care communities in Utah. The two communities, built by the same developer in 2011 & 2016, respectively featured similar layouts, each with approximately 90 units. Both were over 97 percent occupied at the time of sale. An institutional investor sold the assets to a private equity firm for an undisclosed price. Avista Senior Living will continue to operate the communities following the sale.

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AcquisitionsMissouriNews

Blueprint Brokers Sale of Two Communities in Metro St. Louis

by Jeff Shaw

FLORISSANT and DeSMET, Mo. — Blueprint Healthcare Real Estate Advisors has arranged the sale of two seniors housing communities in northwest St. Louis. Pacifica Senior Living divested of the communities as non-core assets. Located in Florissant and DeSmet, the properties total 165 units of independent living and assisted living. An investment fund out of St. Louis, a new entrant to the seniors housing industry, bought the assets and plans to convert one property into multifamily housing and maintain the other as a seniors housing community. The price was not disclosed.

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AcquisitionsIndependent LivingNewsOhio

Blueprint Negotiates Sale of 75-Unit Independent Living Community in Westlake, Ohio

by Jeff Shaw

WESTLAKE, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Our House, a 75-unit independent living community on nine acres in the Cleveland suburb of Westlake. The sale included a home health program that operates exclusively at the community. The seller was a family owner-operator that managed the community for over 40 year. The seller elected to undergo renovations before the sale to receive an assisted living license, as many buyers were interested in using the Ohio Assisted Living Medicaid Waiver Program. The buyer was a Columbus-based …

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AcquisitionsNewsUtah

Stellar Senior Living Acquires 103-Unit Anthology of South Jordan in Utah

by Jeff Shaw

SOUTH JORDAN, Utah — Stellar Senior Living has acquired Anthology of South Jordan, a 103-unit community in South Jordan, a suburb of Salt Lake City. The new owner has changed the name to Copper Creek Senior Living. The property, which opened in 2018, offers independent living, assisted living and memory care services. Copper Creek is located near retail, entertainment, recreational and healthcare destinations. Blueprint Healthcare Real Estate Advisors represented the seller, CA Ventures, in the transaction. Utah-based Stellar Senior Living is a family-owned senior living provider operating 28 senior living …

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AcquisitionsAssisted LivingNewsUtah

1031 Crowdfunding Acquires 178-Unit Portfolio in Utah

by Jeff Shaw

ST. GEORGE and LINDON, Utah — 1031 Crowdfunding has acquired its first two seniors housing communities in Utah. Totaling 178 units of assisted living and memory care, the communities are located in the Provo suburb of Lindon and St. George, which is located approximately 130 miles northeast of Las Vegas. Both properties total 156,473 square feet across 5.85 acres, offer seven-year leases, and are within a four-mile radius of local hospitals. “As 1031 Crowdfunding continues to grow, we plan to move into other regions of the country,” says Edward Fernandez, …

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AcquisitionsAffordable HousingIllinoisNews

Standard Communities Acquires 466-Unit Affordable Portfolio in Metro Chicago

by Jeff Shaw

CHICAGO and BOLINGBROOK, Ill. — Standard Communities has acquired the 145-unit Commonwealth Apartments in Chicago and 321-unit Greenleaf Apartments in Bolingbrook, both of which are affordable seniors housing communities. Standard plans to make $46 million in renovations. Standard led a public-private partnership in the acquisitions. According to Crain’s Chicago Business, Standard paid $110 million for the communities, but the total cost of the deal adds up to $192 million including renovations, fees, reserves and other expenses. Planned renovations include updated kitchens and bathrooms, new energy-efficient appliances, flooring and communal spaces …

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AcquisitionsAssisted LivingNebraskaNews

Blueprint Brokers Sale of 110-Unit Community in Omaha

by Jeff Shaw

OMAHA, Neb. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a Class A, 110-unit assisted living and memory care community in Omaha. A Midwest-based developer that works in multiple asset classes sold the asset to Cedarhurst Senior Living for an undisclosed price. Blueprint Capital Markets assisted in arranging acquisition financing through a regional bank. The community was over 95 percent occupied at the time of sale.

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AcquisitionsNewsTexas

CBRE Brokers Sale of The Village at River Oaks in Houston

by Jeff Shaw

HOUSTON — CBRE has negotiated the sale of The Village at River Oaks, a Class A independent living, assisted living and memory care community in the River Oaks neighborhood of Houston. Harrison Street and Bridgewood Property Co. sold the asset to a fund affiliated with Blue Moon Capital Partners. The price and number of units were not disclosed. CBRE’s National Senior Housing team members John Sweeny, Aron Will, Garrett Sacco and Scott Bray represented the seller in the deal. CBRE National Senior Housing’s debt and structured finance team of Aron …

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AcquisitionsAssisted LivingNewsOperationsTexas

Ridgeline Takes Over Operations of Parsons House of Frisco in Texas

by Jeff Shaw

FRISCO, Texas — Ridgeline Management Co. has taken over operations of Parsons House of Frisco, renaming the property The Ridge at Frisco. The Ridge at Frisco is a three-story assisted living community that has served the Frisco area since 2001. The Ridge at Frisco is the fourth community added to the Ridgeline’s portfolio in recent months. It joins The Peaks at Millcreek in Salt Lake City; The Ridge at Oregon City in Oregon City, Oregon; and Ridge at The Stratford in Phoenix. These communities are a part of an aggressive …

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AcquisitionsNewsVirginia

Blueprint Brokers Sale of Five-Property Portfolio in Virginia

by Jeff Shaw

VIRGINIA — Blueprint Healthcare Real Estate Advisors has negotiated the sale of five seniors housing communities located in the Blue Ridge Mountains of Virginia. The properties total approximately 250 units. Three of the assets were constructed between 1997 and 2002, one was built in the early 1980s, and the last is a historic landmark dating back to 1916. A publicly traded REIT sold the assets to a family office experienced in turnaround projects. The price was not disclosed.

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