Acquisitions

AcquisitionsAssisted LivingNewsSouth Carolina

Blueprint Brokers Sale of 77-Unit Community in South Carolina

by Jeff Shaw

SOUTH CAROLINA — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 77-unit assisted living and memory care community in South Carolina. The property was originally constructed in the late 1990s. While historically a stable performer, the community has recently struggled due to a combination of the effects of the pandemic and census losses driven by competition, according to Blueprint. The buyer is a company growing its seniors housing platform in the state. Further details were not disclosed.

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AcquisitionsIndependent LivingNewsOregon

Cushman & Wakefield Arranges $35M Sale of Crescent Park Independent Living Community in Eugene, Oregon

by Jeff Shaw

EUGENE, Ore. — Cushman & Wakefield has arranged the sale of Crescent Park, a 119-unit independent living community in Eugene. Built in 2014, the community is a three-story, 116,000-square-foot community on 5.7 acres. Inspired Healthcare Capital acquired the asset for $35 million. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig and Dan Baker represented the seller, an investment management firm with a focus on alternative assets including seniors housing. “Crescent Park showed exceptional stabilized performance throughout the pandemic and closed at the original contract price despite challenging capital markets,” …

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AcquisitionsDevelopmentNevadaNews

Blueprint Brokers Sale of Fully Entitled Development Site in Minden, Nevada

by Jeff Shaw

MINDEN, Nev. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a development site in Minden, approximately 50 miles south of Reno. The five-acre parcel is fully entitled for construction of a seniors housing community totaling up to 130 units. The site is strategically located adjacent to Carson Tahoe Minden Medical Center, which Carson Tahoe Regional Health — the region’s largest healthcare provider — operates. The buyer was a West Coast-based seniors housing developer that is affiliated with a seniors housing operator. Information on the seller and price …

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AcquisitionsAssisted LivingFloridaNews

SLIB Brokers Sale of 70-Unit Cedar Creek Assisted Living in Merritt Island, Florida

by Jeff Shaw

MERRITT ISLAND, Fla. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Cedar Creek Assisted Living in Merritt Island, located east of Orlando. Built in 2004, the facility features 70 assisted living units. The seller is a publicly traded REIT. The buyer is a regional owner-operator based in Florida that intends to renovate the asset. The price was not disclosed. Bradley Clousing and Daniel Geraghty handled the transaction for SLIB.

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AcquisitionsCCRCFloridaNews

Lument Securities Arranges Sale of Epworth Village Retirement Community in Hialeah, Florida

by Jeff Shaw

HIALEAH, Fla. — Lument Securities has arranged the sale of Epworth Village Retirement Community in Hialeah, a suburb of Miami. A private joint-venture partnership acquired the nonprofit continuing care retirement community for an undisclosed price. Laca Wong-Hammond and Dominic Porretta led the transaction for Lument Securities. The community was originally founded in 1948 as The Biscayne Home for Women.

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AcquisitionsNew MexicoNewsSkilled Nursing

ESI Brokers $16.5M Sale of Skilled Nursing Community in New Mexico

by Jeff Shaw

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 …

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AcquisitionsNewsSkilled NursingTexas

Blueprint Negotiates Sale of Seven Skilled Nursing Facilities in Texas

by Jeff Shaw

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 …

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AcquisitionsAffordable HousingNewsWashington

PEF Advisors Acquires 92-Unit Webster Court in Kent, Washington

by Jeff Shaw

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 …

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AcquisitionsMemory CareNewsVirginia

Hamister Group Buys 48-Unit Chantilly Heights Memory Care Community in Chantilly, Virginia

by Jeff Shaw

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 …

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AcquisitionsNewsSkilled NursingSouth Carolina

Blueprint Negotiates Sale of 170-Bed Skilled Nursing Facility in Beaufort, South Carolina

by Jeff Shaw

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 …

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