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Acquisitions

AcquisitionsFloridaNews

Convivial Life Acquires 295-Unit Jacaranda Trace in Venice, Florida

by Jeff Shaw

VENICE, Fla. — Convivial Life Inc. has acquired Jacaranda Trace, a seniors housing community featuring 240 independent living and 55 assisted living/memory care units in Venice. The seller was Venice Florida Senior Holdings LLC. The price was not disclosed. As part of the acquisition, Convivial also purchased an 85,000-square-foot clubhouse featuring a fitness center; heated outdoor pool and hot tub; on-site doctor’s clinic; multiple dining venues; billiards and activity rooms; woodworking shop; and library. Convivial is already working on expansion plans at the 33-acre community. LifeStar Living arranged the transaction …

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AcquisitionsActive AdultNewsPennsylvania

Livingston Street Capital Buys 231-Unit Active Adult Community in King of Prussia, Pennsylvania

by Jeff Shaw

KING OF PRUSSIA, Penn. — An affiliate of Livingston Street Capital, a boutique private equity firm, has acquired Canvas at Valley Forge, a 231-unit, Class A active adult community in King of Prussia, a suburb of Philadelphia. The luxury asset brings the firm’s multifamily portfolio, which currently comprises primarily active adult communities, to more than 1,800 units located throughout seven states. “This investment opportunity is well aligned with the core of our active adult strategy,” explains Peter Scola, founder, president and co-CEO of Livingston Street Capital, who notes that according …

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AcquisitionsAssisted LivingNewsWashington

Blueprint Arranges $4.6M Sale of Two Communities in Washington State

by Jeff Shaw

RENTON and OCEAN SHORES, Wash. — Blueprint Healthcare Real Estate Advisors has arrange the sale of two seniors housing communities in the Seattle suburb of Renton and Ocean Shores, located along the Pacific Coast approximately 140 miles west. The Renton community features 80 assisted living units and was built in 1983. The property has exceeded 95 percent occupancy for the past three years. The Ocean Shores community comprises 50 assisted living units built in 1998, and maintained occupancy in excess of 96 percent over the last three years. A Washington-based …

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AcquisitionsNew JerseyNews

Inspired Healthcare Capital Purchases 195-Unit Homestead at Hamilton in New Jersey

by Jeff Shaw

HAMILTON, N.J. — Inspired Healthcare Capital (IHC) has acquired Homestead at Hamilton, a 195-unit independent living, assisted living and memory care community located in the Trenton suburb of Hamilton. Further details were not disclosed. IHC is an Arizona-based private real estate investment firm that focuses on the seniors housing sector. This was IHC’s fourth acquisition in 2022, after closing on nine seniors housing transactions in 2021.

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AcquisitionsConnecticutNews

Blueprint Negotiates Sale of 113-Unit Hamilton Heights Senior Living West Hartford, Connecticut

by Jeff Shaw

WEST HARTFORD, Conn. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Hamilton Heights Senior Living, a 113-unit independent living and memory care community in West Hartford. Formerly known as Mount St. Joseph Academy, a Roman Catholic boarding school for girls, the property was adapted into an independent living, assisted living and memory care community in 1997. The original academy was built in 1905 by well-known Hartford architect John J. Dwyer, and is currently on the National Register of Historic Places. Hamilton Heights is situated on a large …

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AcquisitionsIndependent LivingNewsTexas

SLIB Brokers Sale of 300-Unit Independent Living Community in Houston

by Jeff Shaw

HOUSTON — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 300-unit independent living community in Houston. The community is approximately 206,000 square feet in total and is situated on approximately 7.6 acres of land. The seller is an owner-operator that wanted to sell a non-core asset to focus on its senior living and skilled nursing assets. The buyer is a California-based real estate owner. The price was not disclosed. The buyer hired a third-party manager that operates several independent living communities in Texas. The property shares services …

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AcquisitionsNew MexicoNewsSkilled Nursing

Blueprint Arranges Sale of 85-Bed Skilled Nursing Facility in New Mexico

by Jeff Shaw

NEW MEXICO — Blueprint Healthcare Real Estate Advisors has brokered the sale of an 85-bed skilled nursing facility in New Mexico. The property is one of New Mexico’s premier short-term rehab facilities, serving as the market-leading referral destination for the local market’s largest hospitals, according to Blueprint. It also features a 4-Star CMS-rated quality of care. The facility was experiencing census growth following an operator transition in 2019 as well as upward trending operating performance with total revenues exceeding $8.5 million. A regional owner-operator acquired the property. The seller and …

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AcquisitionsCompany NewsNewsTechnology

Communication Platform VoiceFriend Acquires Caremerge’s Engagement and Wellness Business, Rebrands to Icon

by Jeff Shaw

NEWTON, Mass. — VoiceFriend, a Newton-based, HIPAA-compliant, cloud-based communication platform for senior care organizations, has acquired Caremerge’s family and resident engagement business. The combined company will be known as Icon and will couple VoiceFriend’s communication technology capabilities with Caremerge’s engagement platform. The acquisition enables VoiceFriend to continue its strategic growth and expand its suite of offerings to include family and resident engagement and wellness applications. The deal will also enable VoiceFriend to introduce Caremerge’s solution to its footprint of over 1,200 communities and to the skilled nursing market. Caremerge will …

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AcquisitionsNewsOhioSkilled Nursing

Blueprint Brokers $81M Sale of Skilled Nursing Portfolio in Columbus, Ohio

by Jeff Shaw

COLUMBUS, Ohio — Blueprint Healthcare Real Estate Advisors has brokered the sale of five skilled nursing facilities and the sub-lease of two more, all located in Columbus. Locally owned and operated since 1984, the seven communities consisted of roughly 750 dually certified skilled nursing beds and 200 seniors housing units. While historically operating near stabilized levels with consistent $70+ million in annual revenue, performance drastically declined during the COVID-19 pandemic. Citing a desire to exit the skilled nursing industry, the regional owner-operator elected to sell five of the assets and …

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AcquisitionsNewsWisconsin

SLIB Brokers Sale of Eight-Property Portfolio in Metro Milwaukee

by Jeff Shaw

MILWAUKEE — Senior Living Investment Brokerage (SLIB) has arranged the sale of eight seniors housing communities in the Milwaukee metro area. The eight communities feature a total of 449 units/beds, with occupancy averaging 84 percent. The seller was a private owner that acquired these communities as value-add deals and turned them around. The buyer was an experienced assisted living company with an existing portfolio in the Southeast looking to expand in the Midwest. The price was not disclosed. Jason Punzel, Ryan Saul and Bradley Clousing of SLIB handled the transaction.

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