MIDDLETON, Wis. — Greywolf Brokerage, a division of Greywolf Partners Inc., has brokered the $4 million sale of Pheasant Branch Senior Apartments in Middleton, a suburb of Madison. The 45,166-square-foot building contains 47 units. The property was fully occupied at the time of sale and sold slightly above the listing price. Dawn Davis of Greywolf represented the seller. Buyer and seller information was not provided.
ENGLISHTOWN, N.J. — JLL Capital Markets has arranged the $29.9 million sale of Royal Pines at Marlboro, an 89-unit active adult community in Englishtown, approximately 20 miles south of New York City. JLL represented the seller, a joint venture between GRJ and Castellan Real Estate Partners, in the sale to F.M. Ferrari Investments. Royal Pines at Marlboro comprises one- and two-bedroom units averaging 859 square feet. Although the property is restricted to residents age 55 and above, 20 percent of residents can be age 35 and older. The property was …
MYRTLE BEACH, S.C. — Hudson Capital Properties (HCP) has sold Inspire Coastal Grand, a 194-unit active adult community in Myrtle Beach. An undisclosed buyer acquired the property for $53.2 million. Tai Cohen of Cushman & Wakefield represented HCP in the transaction. Units are available in one-, two- and three-bedroom options. Cape Fear Commercial co-developed the project alongside HCP. The partnership broke ground on the community in 2019. Like many of the Southeastern markets where HCP invests, the greater Myrtle Beach area benefits from continued population growth that has strong potential …
PHILADELPHIA — Cushman & Wakefield has arranged the sale of The Watermark at Logan Square, a 426-unit rental continuum community in the Center City neighborhood of Philadelphia. The firm also served as the exclusive advisor to the undisclosed buyer in procuring acquisition financing. A fixture of the Philadelphia skyline, the 24-story tower originally opened in 1984 and offers independent living, assisted living, memory care and skilled nursing. The property is located prominently above the Logan Square circle and offers true urban senior living in one of the fastest growing neighborhoods …
ALLENTOWN, Pa. — Hamister Real Estate Equity Fund III LP, a private real estate fund sponsored by Hamister Group, has acquired DevonHouse Senior Living, a personal care home in Allentown. The community first opened in 1989, and was expanded in 2008 and 2013. The community features 42,446 square feet of space and feature 80 units and 100 beds. DevonHouse Senior Living is the 10th senior living community in Hamister’s managed portfolio and the 6th property acquired by Fund III.
HARTFORD, Conn. — Blueprint Healthcare Real Estate Advisors has brokered the sale of three skilled nursing facilities in Connecticut. Totaling 380 beds, the properties are all located in the northeastern suburbs of Hartford. A joint venture owner sold the assets to a regional buyer for an undisclosed price. The buyer plans to focus on operational efficiencies, including addressing staffing efficiencies, as well as investing in capital projects at the facilities.
VIRGINIA BEACH, Va. — National Health Investors Inc. (NYSE: NHI) has funded a $42.5 million senior loan to refinance a portfolio of skilled nursing facilities located in Texas. The borrower is Capital Funding Group and the properties are leased by subsidiaries of The Ensign Group Inc. The five-year loan has an annual interest rate of 7.25 percent with two one-year extensions. NHI also announced that it has exercised its purchase option to acquire Bickford of Virginia Beach, a 60-unit assisted living and memory care community in Virginia Beach. The acquisition …
TOLEDO, CANTON and ROCKFORD, Ohio — Blueprint Healthcare Real Estate Advisors has brokered the sale of skilled nursing portfolio across Ohio. Situated in Canton, Toledo and Rockford and spanning 200 miles across the state of Ohio, the three facilities were originally built in the 1960s and 1970s and underwent considerable renovations and major upgrades since 2015. The properties total approximately 300 beds. Citing a need to recycle capital, the seller was an East Coast-based private equity investor. The operator, also an East Coast-based company, acquired the assets for an undisclosed …
WESTMINSTER and ENGLEWOOD, Colo. — CA Ventures has sold its Anthology of Westminster and Anthology of Englewood senior living assets to Harrison Street. “Anthology’s Westminster and Englewood assets have leased incredibly well — particularly having opened their doors at the onset of the COVID-19 pandemic in February 2020,” says Justin Dickinson, president of Anthology Senior Living. “The strong financial performance of each asset despite a volatile global macroeconomic environment and never-before-seen headwinds across the industry is a testament to both our investment strategy and the talent of our team.” The …
CANNON FALLS, Minn. — Ziegler has acted as exclusive financial advisor to Nesnah Ventures LLC on the sale of Cannon Rivers Senior Living, a 105-unit senior living community in Cannon Falls. Located about half-way between Minneapolis and Rochester, the community represented the only senior living asset owned by Nesnah Ventures, a Wisconsin-based family office investor. Built in 2008 and originally intended as multifamily apartments, Nesnah Ventures redeveloped the community into senior living to fill a void in the market. The campus includes independent living, assisted living and memory care apartments. …
