WEST BEND, Wis. — Evans Senior Investments (ESI) has arranged the sale of Samaritan Health Center, a county-owned facility in West Bend, approximately 30 miles north of Milwaukee. The community was originally built in 1969 and renovated in 2009. The facility offers three licensed programs: a skilled nursing facility, an assisted community-based residential facility (CBRF), and a supportive living, apartment-style residential care apartment complex (RCAC). Altogether, the center provides 186 beds, including 131 skilled nursing beds, 24 RCAC beds and 31 CBRF beds. At the time of marketing, Samaritan Health …
ORANGEBURG, S.C. — Ziegler has acted as sell-side advisor in the disposition of The Oaks of Orangeburg, a 122-bed skilled nursing facility in Orangeburg, approximately 35 miles southeast of Columbia. The facility, located in a rural area of the state, is adjacent to a larger independent living campus that was not included in this sale. A privately held healthcare real estate investment and management company out of Skokie, Illinois purchased the property. The new operator is PACS Group Inc.
DOYLESTOWN, Pa. — Walker & Dunlop Investment Sales has arranged the sale of Mercer Hill at Doylestown, a seniors housing community in Doylestown, approximately 30 miles north of Philadelphia. The property features 146 units of independent living, assisted living and memory care. It was constructed in 2022. The buyer was a public healthcare REIT. The seller and price were not disclosed. Joshua Jandris, Brett Gardner and Tom Falkenberg led the Walker & Dunlop team.
SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NYSE: CTRE), a publicly traded healthcare REIT based in San Clemente, funded approximately $378 million in new investments last week. The transactions include the funding of a $260 million senior mortgage loan and a $43 million preferred equity investment in connection with the borrower’s acquisition of a 37-facility skilled nursing and seniors housing portfolio located in the Pacific Northwest. The $378 million in investments was funded using cash on hand. The portfolio consists of 2,713 operating beds/units with 21 skilled nursing facilities and …
LA MARQUE, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 120-bed skilled nursing facility in La Marque, a Gulf Coast city southeast of Houston. The community totals approximately 45,628 square feet on 4.3 acres of land. The seller is a local, Texas-based family partnership, which is selling its only seniors housing community. The buyer owns and operates several skilled nursing facilities in Texas. The price was not disclosed. Matthew Alley of SLIB handled the transaction.
JOHNS CREEK, Ga. — Marcus & Associates and Buckley Shuler Properties have arranged the sale of St. Ives Memory Care, a 38-unit standalone memory care community in the Atlanta suburb of Johns Creek. Regional owner-operator Solinity was the buyer. The seller and price were not disclosed. The property experienced operational setbacks during the COVID-19 pandemic, as well as complications from a winter freeze that caused flooding and insurance issues.Marcus Van Ameringen of Marcus & Associates handled the transaction.
EAST NORRITON, Pa. — Ziegler has arranged $6.4 million in financing for the acquisition of a 114-unit assisted living and memory care community in East Norriton, a suburb northwest of Philadelphia. The buyer is Comprehensive Care Capital, which plans to rebrand the property from Brandywine Living at Senior Suites to Silver Springs at East Norriton. Christopher Utz of Ziegler Investment Banking arranged and negotiated the transaction. Cura Health will oversee daily operations.
SEABROOK, Texas — Green Courte Partners LLC, a private equity real estate investment firm, has acquired Chesapeake Bay, an active adult community with 348 apartments and cottages in Seabrook, just south of Houston. The acquisition was made through the buyer’s fifth investment fund, Green Courte Real Estate Partners V. The seller and price were not disclosed. The acquisition increases Green Courte’s national senior living portfolio to 19 communities containing approximately 3,100 units. The firm’s wholly owned operating platform, True Connection Communities, manages the properties. “The Houston market has demonstrated robust …
MASSACHUSETTS — Capital Funding Group (CFG) has provided a $17.3 million in bridge-to-HUD financing for the acquisition of three skilled nursing facilities in Massachusetts. The facilities support 322 beds. The buyer, seller, price and names/locations of the properties were not disclosed. Craig Casagrande and Catherine Mansel originated the transaction for CFG.
ST. PETERS, Mo.; WEST CHESTER, Pa.; and FORT WORTH, Texas — Life Care Services, an LCS Company, has been selected as the management partner for three communities owned by affiliates of Longview Senior Housing. The announcement expands the total number of Longview communities managed by Life Care Services to seven. The properties include: