Acquisitions

AcquisitionsAssisted LivingFloridaNews

SLIB Negotiates Sale of Two Communities Near Fort Lauderdale

by Jeff Shaw

LAUDERHILL and HOLLYWOOD, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Lenox on the Lake in Lauderhill and Majestic in Hollywood. Lenox on the Lake offers 127 units and 133 beds on a 4.9-acre site. Majestic exclusively offers memory care, totaling 65 units and 115 beds on a 3.6-acre site. The seller was primarily a skilled nursing operator, and these were its last assisted living assets. The buyer was a regional owner-operator based in South Florida. Bradley Clousing and Daniel Geraghty of SLIB represented the seller …

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AcquisitionsAssisted LivingMichiganNews

Blueprint Brokers Sale of 79-Unit Azpira Place of Breton in Kentwood, Michigan

by Jeff Shaw

KENTWOOD, Mich. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Azpira Place of Breton, a seniors housing community in the Grand Rapids suburb of Kentwood. The community was built in 2001 and features 67 assisted living and 12 memory care units. The seller acquired the property as part of a larger portfolio expanding its platform across the Midwest. Shortly thereafter, a substantial interior renovation initiative was completed in 2019. Representing management’s only location in the state, the seller made the decision to exit the market. The buyer …

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AcquisitionsFloridaInvestmentNewsSkilled Nursing

LTC Makes $62M Joint Venture Investment in Three Skilled Nursing Facilities

by Jeff Shaw

WESTLAKE VILLAGE, Calif. — LTC Properties Inc. (NYSE: LTC), a Westlake Village-based REIT, has made a joint venture investment with PruittHealth Inc. for the purchase of three skilled nursing centers in North Florida. LTC will be the majority owner with a $62 million contribution to the joint venture. The assets were constructed between 2018 and 2021, have a combined 299 licensed beds primarily in private rooms, and are operated by PruittHealth. The centers will be operated under a 10-year master lease, with two five-year renewal options, with an affiliate of …

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AcquisitionsIndianaNewsSkilled Nursing

ESI Arranges Sale of Skilled Nursing Community in Indiana

by Jeff Shaw

INDIANA — Evans Senior Investments (ESI) has arranged the sale of a 100-bed skilled nursing facility in Indiana. A regional owner-operator sold the property to a regional operator with a presence in Indiana. The price and further details on the property’s name and location were not disclosed. At the time of marketing, the community posted $10.2 million in total revenue and was 71 percent occupied. The community participated in the Upper Payment Limit program (UPL) with a local hospital. The high revenue generation of the community contributed to an above-average …

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AcquisitionsNewsTexas

JLL Brokers Sale of 75-Unit Quail Park of Granbury in Texas

by Jeff Shaw

GRANBURY, Texas — JLL Capital Markets has arranged the sale of Quail Park of Granbury, a 75-unit independent living, assisted living and memory care community in Granbury, a growing suburb of Dallas-Fort Worth. JLL represented the seller, Living Care Lifestyles, in the sale to Lloyd Jones LLC. Lloyd Jones Senior Living will operate the community going forward, under the name AVIVA Granbury. The sales price was not disclosed. The community comprises two buildings, one offering independent living (41 units) and assisted living (15 units) and one dedicated to memory care …

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AcquisitionsCaliforniaNewsOperations

REMM Group Takes Over Management of Valley View Villas in Garden Grove, California

by Jeff Shaw

GARDEN GROVE, Calif. — The REMM Group Multifamily Management Co. has taken over operations at Valley View Villas Senior Apartment Homes in the Orange County city of Garden Grove. The luxury seniors housing community features 178 units and joins three other properties that The REMM Group manages. “We have an exciting renovation of the beautiful property underway,” says Sara D’Elia, CEO of The REMM Group. “The common areas are being enhanced with a new flooring, a fresh paint palette, furniture and lighting. A full exterior painting is underway and in …

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AcquisitionsIndustry Voices

Broker Q&A: Transactions Surge Back to Life

by Jeff Shaw

A panel of top brokers discusses the state of M&A activity. Roundtable participants Jay M. Wagner, Vice Chairman, Senior Housing Capital Markets, Cushman & Wakefield Brooks Minford, Director, Berkadia Senior Housing & Healthcare Adam Heavenrich, Managing Director, Heavenrich & Company Brooks Blackmon, Senior Director, Blueprint Healthcare Real Estate Advisors Bradley Clousing, Managing Director, Senior Living Investment Brokerage Charles Bissell, Managing Director, JLL Capital Markets John L. Sweeny Jr., Principal, Partner, Co-Head National Senior Housing, CBRE Ari Adlerstein, Senior Managing Director, Meridian Capital Group Cindy Hazzard, President, JCH Senior Housing Investment Brokerage Mark Myers, Managing Director, Investment Sales, Walker & Dunlop   By Jeff Shaw While COVID is still an issue …

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AcquisitionsCompany NewsNewsTechnology

Executive Home Care Acquires Assisted Living Locators

by Jeff Shaw

HACKENSACK, N. J., and SCOTTSDALE, Ariz. — Executive Home Care, a Hackensack-based in-home care provider with a wide range of service options and care programs, has acquired the Assisted Living Locators brand and franchise system. Assisted Living Locators is a Scottsdale-based franchise dedicated to helping seniors find the right living and care solutions. Backed by The Riverside Company, a private equity firm, Executive Home Care’s acquisition of Assisted Living Locators expands the company’s footprint in the senior care space. “The addition of Assisted Living Locators fits seamlessly with our business …

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AcquisitionsNevadaNewsSkilled Nursing

ESI Brokers Sale of TLC Care Center in Henderson, Nevada for $50M

by Jeff Shaw

HENDERSON, Nev. — Evans Senior Investments (ESI) has arranged the sale of TLC Care Center, a 255-bed skilled nursing facility in Henderson. An independent owner-operator sold the asset to Hill Valley Healthcare for $50 million, or $196,000 per bed. Built in 1999, TLC Care Center is located just 10 miles south of the Las Vegas strip. The facility features 35 private and 112 semi-private rooms, which includes 42 ventilator-equipped beds in a designated wing. Prior to the COVID-19 pandemic, the facility exhibited over 90 percent occupancy levels and produced over …

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