Acquisitions

AcquisitionsNewsWashington

Oxford Capital, Fortress Investment Acquire Three Communities in Sequim, Washington for $54M

by Jeff Shaw

SEQUIM, Wash. — A joint venture between Oxford Capital Group LLC and Fortress Investment Group LLC has acquired a three-property, 256-unit seniors housing portfolio located on a single campus in Sequim. The properties were built between 1974 and 2007 and are located northwest of Seattle, just across the Salish Sea from Victoria, British Columbia. Evans Senior Investments (ESI) brokered the $54 million transaction. The buyer acquired the properties from an independent family operator. Oxford’s seniors housing management affiliate, Oxford Living US LLC, will manage the properties. Terms of the transaction …

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AcquisitionsNewsPennsylvaniaSkilled Nursing

Blueprint Brokers Sale of 180-Bed Skilled Nursing Facility in West Chester, Pennsylvania

by Jeff Shaw

WEST CHESTER, Pa. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 180-bed skilled nursing facility in West Chester, approximately 25 miles west of Philadelphia. Blueprint’s marketing efforts and financial projections highlighted the state’s July 2022 announcement to significantly increase Medicaid reimbursements in 2023, with over $500 million allocated to long-term care facilities. Tryko was the buyer and will rebrand the asset as West Chester Rehabilitation & Healthcare Center. The seller and price were not disclosed.

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AcquisitionsCompany NewsNewsTechnology

Sentrics Buys Connected Living Software Platform

by Jeff Shaw

QUINCY, Mass — Sentrics has acquired Connected Living, a seniors housing resident engagement platform based in Quincy. The platform includes a centralized content management system that helps operators share messages with whom they want, when they want and how it is best received easily and quickly, according to Sentrics. The Connected Living technology will become part of the Sentrics Engage360 suite. Brian McWade, the president of Connected Living will become the chief product officer at Sentrics, responsible for executing the integrated engagement strategy. “Residents who stay socially engaged are more …

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AcquisitionsAffordable HousingCaliforniaNews

Joint Venture Acquires 165-Unit Woodbridge Manor Affordable Community in Irvine, California

by Jeff Shaw

IRVINE, Calif. —Asland Capital Partners, Fairstead, iimpact Capital, Nuveen Real Estate and Innovative Housing Opportunities (IHO) have acquired Woodbridge Manor, a 165-unit affordable housing community for seniors in Irvine. Woodbridge Manor apartments are available to seniors earning up to 60 percent of the area median income (AMI), or a maximum of $59,040 per year. The complex comprises a trio of three-story buildings that were built from 1981 to 2003, all of which underwent a major rehabilitation in 2006. The community was purpose built as affordable housing for residents at least …

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AcquisitionsCompany NewsNews

Dunes Point Capital Acquires Furniture Design Company Kwalu

by Jeff Shaw

RYE, N.Y., and ATLANTA — Dunes Point Capital (DPC), a Rye-based investor, has acquired Kwalu, an Atlanta-based designer and manufacturer of furniture serving the healthcare and senior living markets. Kwalu has a manufacturing facility in Matamoros, Mexico and showrooms in Atlanta and Chicago. The company employs approximately 800 people. Dunes Point Capital Fund III LP provided the controlling equity for the transaction. Twin Brook Capital Partners provided the debt financing for the transaction. The purchase price was not disclosed. Kirkland & Ellis LLP served as legal advisor to DPC, and …

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AcquisitionsFeaturesMarylandNewsSkilled Nursing

Oxford Finance Provides $124.8M Acquisition Financing for Four Autumn Lake Skilled Nursing Facilities in Maryland

by Jeff Shaw

MARYLAND — Oxford Finance LLC (“Oxford”) has provided a $124.8 million senior credit facility for the acquisition of four Autumn Lake Healthcare skilled nursing facilities totaling 520 beds in Maryland. Autumn Lake Healthcare maintains a network of independently owned and operated nursing homes and rehabilitative care centers across Connecticut, New Jersey, Maryland, West Virginia and Wisconsin. Further details were not disclosed.

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AcquisitionsActive AdultIndependent LivingIndianaNews

Blueprint Negotiates Sale of Discovery Commons at College Park in Indianapolis

by Jeff Shaw

INDIANAPOLIS — Blueprint Healthcare Real Estate Advisors has arranged the sale of Discovery Commons at College Park, a 148-unit independent living community in Indianapolis. A publicly traded REIT sold the asset to Elevation Financial Group, which plans to convert the community to active adult living. The price was not disclosed.

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AcquisitionsCaliforniaNewsSkilled Nursing

ESI Arranges $25M Sale of Skilled Nursing Facility in Anaheim, California

by Jeff Shaw

ANAHEIM, Calif. — Evans Senior Investments (ESI) has arranged the sale of a 138-bed skilled nursing community in Anaheim for $25 million. A local owner-operator sold the asset to an East Coast-based real estate holding company, which will lease the property to a local operator. The purchase price equates to $181,159 per bed. At the time of marketing, the community was 96 percent occupied and making over $2 million per year in net operating income. The facility also holds a contract for over 50 therapeutic residential care beds. Matt Jassak …

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AcquisitionsActive AdultAffordable HousingAssisted LivingDevelopmentFeaturesFinanceIndependent LivingIndustry ContentInvestmentOperationsPeopleSkilled NursingVideosWebinars

Webinar: Let’s Talk About the Outlook for Seniors Housing Investment and Finance

by Sarah Daniels

  Is there room for optimism in seniors housing? What does investor interest look like now? Learn about how interest rate increases are impacting seniors housing valuations, what a flight to quality means for different sectors, financing concerns and more. Watch the webinar here. Timestamps of major topics covered: (5:25) Impact of rising interest rates on seniors housing valuations (7:54) Effects broken down by sector: active adult, skilled nursing, assisted living (11:07) Financing in the current environment (13:21) Acquisition opportunities, plus deal flow and closing (18:10) Outlook for the market …

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AcquisitionsFinanceNewsSkilled NursingTexas

Colliers Mortgage Arranges $11.8M Acquisition Loan for Skilled Nursing Portfolio in Texas

by Jeff Shaw

TEXAS — Nick Skarich, Steven Marx, Corley Audorff and Josh Williams of Colliers Mortgage have arranged an $11.8 million bridge loan for the acquisition of three skilled nursing facilities in Texas. The facilities, which participate under the Texas Quality Incentive Payment Program, total 358 licensed beds. The loan includes $3.5 million for renovations. The loan carries a three-year term with two 12-month extensions and an interest-only payment period. No further information was disclosed.

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