Acquisitions

AcquisitionsIndianaKentuckyNewsPennsylvania

CBRE Negotiates Sale of 481-Unit, Four-Property Active Adult Portfolio

by Jeff Shaw

PITTSBURGH, INDIANAPOLIS AND LOUISVILLE, Ky. — CBRE has brokered the sale of four active adult communities totaling 481 units in the Pittsburgh, Indianapolis and Louisville metro areas. An institutional investor that is a leading active adult owner-operator was the seller. Another institutional investor acquired the properties for an undisclosed price. CBRE’s Indianapolis multifamily team consisting of Steve LaMotte and Dane Wilson, CBRE’s Pittsburgh multifamily team consisting of Laura Lawrence, and CBRE’s National Senior Housing team members John L. Sweeny Jr., Aron Will, Garrett Sacco and Scott Bray represented the seller. …

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AcquisitionsNew YorkNewsNorth CarolinaSouth Carolina

Bellwether Arranges $62M in Financing for Seniors Housing Communities in Carolinas, New York

by Jeff Shaw

GREENVILLE, S.C.; CHARLOTTE, N.C.; AND KENMORE, N.Y. — Bellwether Enterprise Real Estate Capital LLC has arranged three loan deals totaling more than $62 million to finance three assisted living and memory care communities in Greenville, one assisted living and memory care facility in Charlotte and a 150-unit affordable seniors housing development in the Buffalo suburb of Kenmore. The national seniors housing and care team at Bellwether originated the Carolina loans, led by Ryan Stoll, Taylor Mokris and Kim Huffstutler. Lundat Kassa and Anthea Martin originated the New York loan. The …

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AcquisitionsAssisted LivingNewsTexas

MedCore Acquires 86-Unit Avenues of Park Forest in Farmers Branch, Texas

by Jeff Shaw

FARMERS BRANCH, Texas — MedCore Partners has acquired an 86-unit senior living community in the first-ring Dallas suburb of Farmers Branch. MedCore has renamed the property, formerly called The Avenues of Park Forest, as The Grove on Forest Lane. The community features 70 assisted living and 16 memory care units. The transaction marks MedCore’s second acquisition in Texas but the first in the Dallas market. The property is MedCore’s 19th nationwide. Renovation effort will include new interior and exterior signage, courtyard landscaping, common area upgrades and apartment amenity enhancements. Senior …

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AcquisitionsAssisted LivingKentuckyNews

SLIB Brokers Sale of 119-Unit Forest Hills Commons in Louisville, Kentucky

by Jeff Shaw

LOUISVILLE, Ky. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Forest Hills Commons, a 119-unit assisted living and memory care community in Louisville. Built in 2019, Forest Hills is located 14 miles from downtown Louisville on 4.4 acres. The seller is a regional owner-operator exiting the state of Kentucky. The buyer is a Midwest-based owner-operator looking to add to its existing footprint throughout the Midwest. The price was not disclosed. Ryan Saul and Daniel Geraghty handled the transaction on behalf of SLIB. “The seller developed this asset …

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AcquisitionsNewsOhioSkilled Nursing

ESI Negotiates Sale of 99-Bed Skilled Nursing Community in Ohio

by Jeff Shaw

OHIO — Evans Senior Investments (ESI) has arranged the sale of a 99-bed skilled nursing community in Ohio. Having been constructed in different phases from 1946 through 1985, the community received two significant renovations in 2013 and 2019. Consisting of 47 private rooms, the community was able to operate with an above-average quality mix. It was 70 percent occupied at the time of marketing, contributing to a breakeven net operating income. This was the buyer’s first acquisition in the skilled nursing space, although it was involved in the operations for …

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AcquisitionsFloridaNews

SLIB Negotiates Sale of Community in Dade City, Florida

by Jeff Shaw

DADE CITY, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a seniors housing community in Dade City, located between Tampa and Orlando. The property offers independent living, assisted living and memory care services. The name and number of units were not disclosed. The seller is a longstanding provider of seniors housing with a portfolio of over 30 communities. A regional operator that partnered with a private equity group focused on the seniors housing space acquired the property for an undisclosed price. Brad Clousing, Jeff Binder and …

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AcquisitionsAssisted LivingFinanceNewsWisconsin

VIUM Provides $6.2M Bridge Loan for Community in Northeast Wisconsin

by Jeff Shaw

WISCONSIN — VIUM Capital has funded a $6.2 million bridge loan for a 62-unit assisted living and memory care community in Northeast Wisconsin. The borrower used the funds to acquire the property and further build on its existing portfolio in Wisconsin. Further details were not disclosed.

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AcquisitionsFloridaNews

Innovation Senior Living Acquires Two Savannah Court Communities in Florida

by Jeff Shaw

HAINES CITY and LAKE WALES, Fla. — Innovation Senior Living, a middle-market operator, has acquired two Savannah Court-branded communities in Florida. The properties include Savannah Court of Haines City in Haines City and Savannah Court of Lake Wales in Lake Wales. Both municipalities are located southwest of Orlando and east of Tampa. The buyer has changed the communities’ names to The Club at Haines City and The Club at Lake Wales. The seller and price were not disclosed. This represents Innovation’s third and fourth owned and operated communities. The company …

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AcquisitionsFinanceFloridaNewsSkilled Nursing

VIUM Funds $5.4M Acquisition Loan for 60-Bed Skilled Nursing Facility in Florida

by Jeff Shaw

FLORIDA — VIUM Capital has provided a $5.4 million acquisition loan for a 60-bed skilled nursing facility in Florida. Elevation Group was the borrower, and the total purchase price was $6.8 million. The seller, name of the property and location of the property were not disclosed.

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AcquisitionsFinanceFloridaNewsSkilled Nursing

VIUM Capital Funds $61.6M Acquisition Financing for Three-Property Skilled Nursing Portfolio in Florida

by Jeff Shaw

FLORIDA — VIUM Capital has provided a $61.6 million loan for the acquisition of a three-property skilled nursing portfolio in Northeast Florida. The portfolio totals 357 beds. The financing features a potential earn-out of $6.7 million. Further details were not disclosed.

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