Acquisitions

AcquisitionsCaliforniaNews

SLIB Arranges Sale of Senior Care Villa of Loomis in California

by Jeff Shaw

LOOMIS, Calif. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Senior Care Villa of Loomis. The facility consists of 26 units and was built in 2000. It totals approximately 15,000 square feet and on 2.5 acres of land in Loomis, 25 miles northeast of Sacramento. The seller was a family owner-operator seeking to retire. The buyer is a Southern California-based investment group looking to expand its portfolio within the state. The price was not disclosed. Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the transaction. …

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AcquisitionsNewsVirginia

CareTrust REIT Sells Five Communities in Virginia for $13M

by Jeff Shaw

VIRGINIA — CareTrust REIT Inc. (NYSE: CTRE) has sold five seniors housing facilities in Virginia for $13 million. The facilities total approximately 240 units. In connection with the completion of the sale, the facilities were removed from the company’s applicable master lease with affiliates of Noble Senior Services. The buyer was a regional owner-operator of assisted living and memory care facilities. “The sale of these five facilities continues our plan to de-risk the portfolio,” says Dave Sedgwick, president and CEO of CareTrust. “We continue to move forward towards selling or …

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AcquisitionsMemory CareNewsUtah

SLIB Negotiates Sale of 66-Bed Pheasant Run in Clinton, Utah

by Jeff Shaw

CLINTON, Utah — Senior Living Investment Brokerage (SLIB) has arranged the sale of Pheasant Run, a memory care community in Clinton, approximately 30 miles north of Salt Lake City. Built in 2015, the facility consists of 45 units and 66 beds across approximately 32,862 square feet, on three acres of land. A regional owner exiting the Utah market sold the asset to a family office based in the Western U.S. for an undisclosed price. The new owner plans to use Ridgline Management Company as the operator. Jason Punzel, Vince Viverito …

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AcquisitionsAssisted LivingNewsTexas

Cushman & Wakefield Arranges Sale of 112-Unit Appletree Court in Richardson, Texas

by Jeff Shaw

RICHARDSON, Texas — Cushman & Wakefield has arranged the sale of Appletree Court, a 112-unit assisted living community located in Richardson, 15 miles north of downtown Dallas. A Cushman & Wakefield team of Richard Swartz, Jay Wagner, Jim Dooley and Jack Griffin represented the seller, Franklin Park Senior Living, in the transaction. Winterpast Capital Partners, a seniors housing investor with a captive operator platform called Vitality Senior Living, was the buyer. Marcus Investments partnered with Winterpast Capital Partners for this investment. Cushman & Wakefield arranged the acquisition financing with a …

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AcquisitionsAssisted LivingNewsTexas

SLIB Negotiates Sale of 64-Unit Parsons House Frisco in Metro Dallas

by Jeff Shaw

FRISCO, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of Parsons House Frisco, a 64-unit assisted living and memory care community in the Dallas suburb of Frisco. The community totals approximately 53,651 square feet on 4.1 acres of land. A regional owner-operator that wanted to divest of a non-core asset sold the asset to a family office located in the Western U.S. for an undisclosed price. The buyer plans to use Ridgline Management Co. as the operator. Matthew Alley and Jason Punzel of SLIB handled the transaction.

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AcquisitionsAssisted LivingNewsTexas

ESI Brokers $25M Sale of a Dancing River Assisted Living Community in Grapevine, Texas

by Jeff Shaw

GRAPEVINE, Texas — Evans Senior Investments (ESI) has arranged the sale of Dancing River, an 84-unit assisted living and memory care community in Grapevine, a suburb of Dallas that includes Dallas/Fort Worth International Airport. An institutional private equity group sold the property to Inspired Healthcare Capital for $25 million, or $297,619 a unit. ESI represented the seller. Built in 2010, Dancing River went from being 93 percent to 70 percent occupied during the pandemic, but census creeped back up to pre-pandemic levels during the marketing process. “With the community recently …

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AcquisitionsCaliforniaNews

SLIB Negotiates Sale of 144-Unit Community in Oceanside, California

by Jeff Shaw

OCEANSIDE, Calif. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Merrill Gardens Oceanside. The 144-unit independent living, assisted living and memory care community is located in Oceanside, a coastal city between Los Angeles and San Diego. The community was built in 1999, totaling approximately 96,905 square feet on 4.4 acres of land. The seller was an East Coast-based private equity firm. The buyer is a Southern California-based investment group, with this being their first seniors housing acquisition. The price was not disclosed. Jason Punzel, Brad Goodsell and …

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AcquisitionsAffordable HousingDevelopmentNewsTennessee

Blueprint Brokers Sale of 165-Unit Community in Memphis for Affordable Conversion

by Jeff Shaw

MEMPHIS, Tenn. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a seniors housing community in Memphis. Built in the late 1960s, the community rises 11 stories and features 110 independent living units and 55 assisted living units. A publicly traded REIT sold the community as a non-core asset. The buyer was Elevation Financial Group, which plans to convert the community into an affordable housing community for seniors. The price was not disclosed.

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AcquisitionsAssisted LivingFinanceFloridaNews

Lument Arranges $6.1M Acquisition Loan for Two-Property Portfolio in Florida

by Jeff Shaw

LAKE WALES and HAINES CITY, Fla. — Lument has provided a $6.1 million bridge loan to facilitate the acquisition of two assisted living communities in Florida totaling 90 units. Innovation Senior Living, a middle-market provider founded in 2016, acquired Savannah Court of Lake Wales, a 45-bed community, and Savannah Court of Haines City, a 45-bed community. The two properties are approximately 15 miles apart in small cities south of Orlando and east of Tampa. Casey Moore, Conner Girdley and Chris Mauger led the transaction for Lument. Lument’s M&A team, led …

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AcquisitionsNewsTennessee

Blueprint Negotiates Sale of 115-Unit Portfolio in Nashville

by Jeff Shaw

NASHVILLE, Tenn. — Blueprint Healthcare Real Estate Advisors has arranged the sale of two seniors housing communities totaling 115 units in Nashville. Built in 2010 and 2011, the communities experienced normal COVID-related headwinds, but rebounded in 2022 and were on a path towards stabilization. A Southeast-based owner-operator looking to expand its portfolio bought the properties. The seller, price and names of the assets were not disclosed.

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