Acquisitions

AcquisitionsMemory CareNewsOklahoma

Blueprint Negotiates Sale of 38-Unit Memory Care Community in Oklahoma City

by Jeff Shaw

OKLAHOMA CITY — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 38-unit memory care community in an affluent neighborhood of Oklahoma City. The seller was a private equity fund seeking to exit its only standalone memory care property. Built in 2010, the community had strong historical occupancy, but was negatively impacted by the COVID-19 pandemic and was in the early stages of a performance rebound. The community was positioned as a value-add opportunity for buyers to capitalize on the strong demographics and surprising scarcity of standalone memory …

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AcquisitionsAssisted LivingFloridaNews

DeMarco Real Estate Group Brokers $12.1M Sale of Two Assisted Living Facilities in Florida

by Jeff Shaw

MARGATE and DAVIE, Fla. — The DeMarco Real Estate Group of RE/MAX 5 Star Realty has arranged the $12.1 million sale of two assisted living facilities totaling 131 beds in Margate and Davie, both suburbs of Miami. PrivCap Cos. in Boca Raton sold the assets to a private investment group from New York. The facilities specialize in memory care and operate under the name of Caring Village. The portfolio sold for 81 percent higher than the last sale in 2020 for $7 million, which the DeMarco Real Estate Group also …

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AcquisitionsCCRCIllinoisNews

Ziegler Negotiates Sale of 192-Unit Pinecrest Community in Mount Morris, Illinois

by Jeff Shaw

MOUNT MORRIS, Ill. — Ziegler has negotiated the sale of Pinecrest Community, a 192-unit senior living community located on 40 acres in Mount Morris, a tiny town of fewer than 3,000 people approximately 100 miles west of Chicago. Pinecrest Community is a Christian nonprofit continuing care retirement community affiliated with the Church of the Brethren. The community was initially established in 1893 to care for the elderly and orphans. The campus features active-adult cottage homes, independent living apartments, intermediate and skilled care living, and a specialized memory care center. The …

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AcquisitionsAlabamaAssisted LivingNews

Blueprint Arranges Sale of Three Communities in Alabama

by Jeff Shaw

ALABAMA — Blueprint Healthcare Real Estate Advisors has arranged the sale of three seniors housing communities in Alabama. Sold by a publicly traded REIT, the portfolio consists assisted living and memory care communities totaling 202 units across the state’s three largest metros. The assets were originally constructed in 1999 and 2000. Texas-based Proveer Senior Living acquired the properties and plans to undertake significant capital projects across the assets. This acquisition strategically enhances the buyer’s growing footprint throughout the state of Alabama. The price was not disclosed.

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AcquisitionsNewsSkilled NursingTexas

Blueprint Negotiates $8.7M Sale of Vacant Mainstreet Property in Texas

by Jeff Shaw

TEXAS — Blueprint Healthcare Real Estate Advisors has brokered the sale of a vacant, 70-unit asset in Texas. Mainstreet originally developed the healthcare property, but did not fully complete construction prior to being foreclosed upon. The property was developed to be a turnkey, purpose-built transitional care facility, and featured very similar design features to the other two properties that Mainstreet built in Amarillo and Temple. A Texas-based investor acquired the property for $8.7 million, or $124,285 per unit, and plans to lease it to an East Coast-based skilled nursing operator. …

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AcquisitionsActive AdultAffordable HousingAssisted LivingDevelopmentFinanceIndustry ContentOperationsVideosWebinars

Webinar: What Will 2023 Hold for Seniors Housing Investment & Acquisition Activity?

by Sarah Daniels

    In an uncertain time for the seniors housing industry, the “What Will 2023 Hold for Seniors Housing Investment & Acquisition Activity?” webinar focused on what’s influencing the landscape now and what is likely to affect it in the near future. The Dec. 8 panel discussion, hosted by Seniors Housing Business and sponsored by Valuation & Information Group, delved into tough topics like wages and staffing; inflation; the costs of debt and equity; government reimbursement; and other economic factors to illuminate what we can expect in 2023. Tune in …

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AcquisitionsIndianaNewsSkilled Nursing

ESI Brokers $4.2M Sale of Manderley Health Care Center in Osgood, Indiana

by Jeff Shaw

OSGOOD, Ind. — Evans Senior Investments (ESI) has arranged the sale of Manderley Health Care Center, a 71-bed skilled nursing community located in Osgood, a tiny town located between Indianapolis and Cincinnati. An independent owner-operator sold the property to an East Coast-based owner-operator for $4.2 million, or $58,451 per bed. Built in 1981, Manderley Health Care Center was 58 percent occupied and not cash flowing at the time of marketing. While under contract, occupancy at the community dipped below 45 percent. However, the owners of the community were able to …

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AcquisitionsArizonaNews

Newmark Brokers $255M Sale of Four-Property Portfolio in Metro Phoenix

by Jeff Shaw

PHOENIX — Newmark has arranged the $255 million sale of a four-property, Class A seniors housing portfolio in Phoenix and its suburbs. The LivGenerations portfolio totals 546 units comprising independent living, assisted living and memory care. The seller built all four communities — LivGenerations Agritopia, LivGenerations Ahwatukee, LivGenerations Pinnacle Peak and LivGenerations Mayo Boulevard — between 2014 and early 2022. Newmark represented the seller, regional owner-operator and developer Liv Communities, in the transaction. The buyer was not disclosed.

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AcquisitionsColoradoNewsSkilled Nursing

Ensign Group Acquires Two Skilled Nursing Facilities in Colorado

by Jeff Shaw

BRIGHTON and NORTHGLENN, Colo. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of Brighton Care Center, a 108-bed skilled nursing facility located in Brighton, and Malley Transitional Care Center, a 162-bed skilled nursing facility located in Northglenn. These acquisitions are subject to a long-term, triple-net lease. “We are excited about growing in Colorado,” says Barry Port, Ensign’s CEO. “These facilities are a great fit to our existing portfolio and we look forward to the contribution each will have in our operational market and clusters in Colorado.” This …

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AcquisitionsIndianaNewsSkilled Nursing

Euson Lindsay Health Acquires Green House Cottages of Carmel in Indiana

by Jeff Shaw

CARMEL, Ind. — Euson Lindsay Health LLC has acquired The Green House Cottages of Carmel, a 72-bed skilled nursing facility in Carmel, a suburb of Indianapolis. The Green House Cottages of Carmel opened in 2016 and offers short-term rehabilitation, memory care and long-term care. The beds are spread across six buildings in a home-like environment. The buyer will rebrand the facility under its Restoracy brand. The seller and price were not disclosed.

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