Acquisitions

Blueprint Brokers $21M Sale of The Inn at Los Patios in San Antonio

by Jeff Shaw February 17, 2023

SAN ANTONIO — Blueprint Healthcare Real Estate Advisors has negotiated the sale of The Inn at Los Patios, a 166-unit independent living and assisted living community in San Antonio. Blueprint represented a court-appointed receiver to maximize proceeds for the trustee group and stakeholders involved. Though the community was 80 percent occupied and generating approximately $1 million of cashflow, Blueprint sold the upside of increasing occupancy by elevating the competitive profile and implementing minor expense efficiencies through regional operations. A New York-based private equity group acquired the property for $21 million …

February 17, 2023

Acquisitions Illinois News Skilled Nursing

SLIB Negotiates Sale of 76-Bed Skilled Nursing Facility in Central Illinois

by Jeff Shaw February 17, 2023

ILLINOIS — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 76-bed skilled nursing facility located approximately 80 miles west of Springfield, Illinois. The seller was a regional owner-operator looking to divest this asset from its portfolio to focus on core assets. The buyer was a regional owner and operator based on the East Coast looking to expand its presence in Illinois. The price and further details on the property were not disclosed.

February 17, 2023

Acquisitions Affordable Housing Illinois News

PEF Advisors Acquires 198-Unit Freedom Village Affordable Community in Homewood, Illinois

by Jeff Shaw February 16, 2023

HOMEWOOD, Ill. — Preservation Equity Fund Advisors LLC (PEF Advisors) has acquired Freedom Village, an affordable seniors housing community in Homewood, approximately 20 miles south of downtown Chicago. Originally built in 1998 with tax credits from the Illinois Housing Development Authority, Freedom Village is a three-story building featuring 198 units in a mix of one- and two-bedroom floorplans. Apartments are reserved for seniors earning up to 60 percent of the area median income (AMI). Freedom Village was 98.5 percent occupied at the time of sale. The seller and price were …

February 16, 2023

Acquisitions Georgia News

Chicago Pacific Founders Buys Two Celebration Village Communities in Georgia

by Jeff Shaw February 16, 2023

ACWORTH and SUWANEE, Ga. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired Celebration Village Acworth in Acworth and Celebration Village Forsyth in Suwanee, both in the northern suburbs of Atlanta. Each property offers independent living, assisted living and memory care services. The communities offer a combined 474 units. Cushman & Wakefield’s Richard Swartz, Jay Wagner, Tim Hosmer and Christopher Remeika represented the seller in the transaction, a joint venture between AgeWell Living, The ASC Group and a large investment fund. Grace …

February 16, 2023

Acquisitions Assisted Living Montana News

SLIB Negotiates Sale of 32-Unit Community in Billings, Montana

by Jeff Shaw February 9, 2023

BILLINGS, Mont. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 32-unit assisted living facility in Billings. The community was built in 2015, spanning approximately 16,044 square feet on 1.4 acres of land. The seller was a local owner exiting the senior living market. The buyer is a nonprofit located in Montana. The price was not disclosed. Jason Punzel, Vince Viverito and Brad Goodsell of SLIB handled the transaction.

February 9, 2023

Acquisitions Affordable Housing Illinois News

AHIB Negotiates $21.1M Sale of Valkommen Plaza in Rockford, Illinois

by Jeff Shaw February 8, 2023

ROCKFORD, Ill. — Affordable Housing Investment Brokerage Inc. (AHIB) has arranged the sale of Valkommen Plaza, a 171-unit affordable seniors housing community in Rockford, approximately 90 miles northwest of Chicago and southwest of Milwaukee. A private investor sold the asset to Envolve Communities for $21.1 million. AHIB’s Kyle Shoemaker represented both both parties in the transaction. Valkommen Plaza is a nine-story, elevator-serviced building with commercial spaces on the first floor, providing amenities such as a beauty salon, police sub-station and grocery for the local community. In addition to the commercial …

February 8, 2023

Acquisitions CCRC Illinois News

Lifespace Communities Acquires 257-Unit GreenFields of Geneva CCRC in Illinois

by Jeff Shaw February 7, 2023

GENEVA, Ill. — Lifespace Communities has acquired GreenFields of Geneva, a nonprofit, 257-unit continuing care retirement community (CCRC) in Geneva, approximately 40 miles west of downtown Chicago. Friendship Senior Options (FSO) sold the property for an undisclosed price. FSO will continue to provide management services through June, at which time the community will fully transition onto Lifespace management, systems and support. The sale brings Lifespace’s total portfolio to 18 communities, including three in metro Chicago. Located on 26 acres bordering two championship golf courses, GreenFields includes walking paths, a fishing …

February 7, 2023

Acquisitions Assisted Living News Texas

Cushman & Wakefield Arranges Sale of 76-Unit Franklin Park of Round Rock in Texas

by Jeff Shaw February 7, 2023

ROUND ROCK, Texas — Cushman & Wakefield has arranged the sale of Franklin Park of Round Rock, a 76-unit assisted living and memory care community in Round Rock, approximately 20 miles north of downtown Austin. A Cushman & Wakefield team of Richard Swartz, Jay Wagner, Jim Dooley and Jack Griffin represented the seller, Franklin Park Senior Living and its institutional capital partner, in the transaction. The buyer was Inspired Healthcare Capital, a senior housing investor with a captive operator called Volante Senior Living, which will manage the community going forward. …

February 7, 2023

Acquisitions News Operations Texas

12 Oaks Senior Living to Operate 166-Unit The Inn at Los Patios in San Antonio

by Jeff Shaw February 7, 2023

SAN ANTONIO — 12 Oaks Senior Living has taken over management of The Inn at Los Patios, a 166-unit independent living and assisted living community in San Antonio. 12 Oaks, along with local nonprofit San Antonio Community Development Council, intends to complete a major renovation and upgrade to the community.

February 7, 2023

Acquisitions Active Adult News Texas

Grace Management Breaks Ground on 115-Unit Active Adult Complex in Conroe, Texas

by Jeff Shaw February 3, 2023

CONROE, Texas — Grace Management has broken ground on The Lakes at Woodhaven Village, a 115-unit active adult complex in Conroe, located about 40 miles north of Houston. The project, which is being developed on a five-acre plot adjacent to the 2,000-acre Grand Central Park master-planned community, is slated for a spring 2024 completion. Project partners include developer Padua Realty Co. and affiliated construction company Dorado Builders, Investwell Architects, Lizabeth Jones Interior Design and Jordan & Skala Engineers.

February 3, 2023

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