BALTIMORE — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 120-unit assisted living and memory care community in the Baltimore metro area. The community was built in 1999 and was underperforming operationally. The buyer is a publicly traded REIT that plans to convert the asset into an addiction recovery facility. The seller and price were not disclosed.
BRANFORD, Conn. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of Branford Hills Healthcare Center, a 190-bed skilled nursing facility with in-house pharmacy in Branford, a town on Long Island Sound. The Shelton Family has operated the community since its construction in 1980. Expanded in 1991, the facility sits on over 10 acres and benefits from its proximity to referral sources in New Haven County, specifically Yale-New Haven Hospital. Exhibiting historical occupancy in excess of 94 percent and revenues in excess of $20 million, the facility struggled amid …
CLEVELAND, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Laurel Lodge Assisted Living and Memory Care, a 72-unit community in Cleveland, approximately 75 miles northeast of Atlanta. The original building was 56 units which leased quickly throughout 2020 and has since maintained a waiting list for available units. During original construction the building was rough graded and stubbed for an additional 16-unit wing, which was completed in March 2022. The asset was fully occupied at closing. The seller is an owner-operator that the buyer, a 1031 …
MINNEAPOLIS — Blueprint Healthcare Real Estate Advisors has negotiated the sale of two skilled nursing facilities totaling 234 beds in Minnesota. A Minnesota-based regional owner-operator sold the properties to a national owner looking to expand its tenant relationships in the state. The price was not disclosed. One facility is located within the Minneapolis metro area, while the second is located approximately 2.5 hours north of the Twin Cities. Both facilities were of older vintage, having originally been built in the early to mid 1960s, though both had recently undergone renovations …
BOWLING GREEN, Ky. — Senior Living Investment Brokerage (SLIB) has arranged the sales of two seniors housing communities totaling 92 units in Bowling Green. The assets include the 61-unit Chandler Park Assisted Living and the 31-unit Chandler Memory Care. The properties are 2.5 miles from each other. The seller is a commercial real estate development company based out of Bowling Green. The buyer is a Midwest-based owner-operator looking to strategically add to its existing footprint throughout the Midwest. The price was not disclosed. Daniel Geraghty and Bradley Clousing handled the …
NORTH BERGEN, N.J. — Evans Senior Investments (ESI) successfully represented the sale of Hudson Hills Senior Living, a 212-unit continuing care retirement community (CCRC) in North Bergen, just across the Hudson River from Manhattan. Hudson Hills was originally constructed in 1897, with additional expansions in 1942, 1972, 1980 and 1990. The community features 59 independent living units, 81 assisted living units, 12 memory care units and 60 skilled nursing beds. ESI represented the seller, an independent owner-operator based in New Jersey. The buyer was an East Coast owner/operator expanding in …
DALLAS, Texas, and CLEVELAND, Ga. — 1031 Crowdfunding has acquired a 137-bed, 109-unit assisted living and memory care portfolio. The two properties, located in Dallas and Cleveland, were 95.6 percent occupied at the time of sale. Iris Senior Living and Over the Top Management will operate the two properties, known as Iris Memory Care and Laurel Lodge.
PENNSYLVANIA — Blueprint Healthcare Real Estate Advisors has negotiated the sale of six skilled nursing facilities in Western Pennsylvania. A public REIT sold the 453-bed portfolio to an operator as a value-add opportunity. Further details were not disclosed.
SAN JUAN CAPISTRANO, Calif. — The Ensign Group Inc. (NASDAQ: ENSG), an investor and operator based in San Juan Capistrano, has acquired nine skilled nursing facilities in the West across three separate transactions all announced on the same day. In the first transaction, Ensign acquired the operations of five skilled nursing facilities in Texas: The Eden of Las Colinas, a 118-bed skilled nursing facility in Irving, Texas; Pleasant Valley Healthcare and Rehabilitation Center, a 124-bed skilled nursing facility in Garland, Texas; Millbrook Healthcare and Rehabilitation Center, a 124-bed skilled nursing …
SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NYSE: CTRE), a seniors housing investor based in San Clemente, has extended a $75 million “C” piece financing as part of a larger multi-tranche senior secured term loan and has extended a $25 million mezzanine loan to a private equity skilled nursing real estate owner. The loans are in connection with the acquisition of an 18-property portfolio in the Mid-Atlantic. The portfolio includes approximately 2,000 skilled nursing beds. The “C” tranche of the senior secured term loan carries a five-year maturity and an …