WHEATFIELD, N.Y. — Invesque Inc. (TSX: IVQ) has sold $113 million of non-core assets, including its interests in two Calamar-branded active adult communities in Wheatfield, a northern suburb of Buffalo. Inclusive of previously announced dispositions, Invesque has sold $292 million of assets over the last 12 months as part of its portfolio simplification strategy. The Calamar communities were acquired in 2018 as part of the acquisition of Care Investment Trust and were managed by Calamar under a joint-venture structure. “We have been very active over the past year executing on …
MCKINNEY, Texas — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the real estate and operations of Park Manor of McKinney, a 138-bed skilled nursing facility in McKinney. Standard Bearer Healthcare REIT Inc., Ensign’s captive real estate company, will own the real estate. This acquisition brings Ensign’s portfolio to 259 healthcare operations, 26 of which also include senior living operations, across 13 states. Ensign subsidiaries, including Standard Bearer, now own 106 real estate assets.
ABILENE, AMARILLO and TYLER, Texas — Grandbridge Real Estate Capital’s seniors housing investment sales team has arranged the sale of a three continuing care retirement communities (CCRC) in Texas. Lifespace Communities acquired the properties from RSF Partners, Evergreen Senior Living Properties and ER Senior Management. The price was not disclosed. The 664-unit portfolio provides a full continuum of care including independent living cottages and apartments, assisted living, memory care and skilled nursing in a hybrid structure of entrance-fee and rental contracts. The properties include Wesley Court in Abilene, The Craig …
SOUTH BEND, Ind. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a seniors housing community in the North Indiana city of South Bend. The late 1990s-built assisted living community experienced occupancy challenges due to the COVID-19 pandemic. The name and number of units at the property were not disclosed. A national owner-operator sold the asset to a private owner partnering with a new operator, both looking to expand in the market. The price was not disclosed. The buyer group plans to reposition the asset as the premier …
CHARLESTON, W.V. — Lument Securities has advised Stonerise Healthcare, a skilled nursing and transitional care provider based in Charleston, on the company’s sale. The buyer was a group consisting of a New York-based real estate investment firm and its operating partner, CommuniCare Health Services. Stonerise was founded in 2009. Its integrated network of care includes transitional and skilled nursing care, therapy, home health and hospice services, which it provides throughout West Virginia and in Southeast Ohio. The skilled nursing portfolio features 18 owned and operated facilities across West Virginia totaling …
ST. PAUL, Minn. — Cushman & Wakefield has arranged $16.5 million in financing for a joint venture between The Waters Senior Living and an institutional capital partner. The acquisition loan is for the purchase of The Waters of Highland Park, an 84-unit independent living, assisted living and memory care community in the Highland Park neighborhood of St. Paul. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Sam Dylag and Bailey Nygard represented the borrower in the transaction. “We originally developed the community and have managed it since opening but we are …
VALPARAISO, Ind. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of Rittenhouse Village of Valparaiso, a 90-unit assisted living and memory care community in Valparaiso, approximately 45 miles southeast of Chicago. A publicly traded REIT sold the asset to Lloyd Jones Senior Living, which was looking to grow its Midwest presence. The price was not disclosed. Built in 2009, the historically cash flowing community was negatively impacted by the COVID-19 pandemic, though recently started to rebound operationally. The sale was positioned as a value-add opportunity.
CLARK, N.J. — Evans Senior Investments (ESI) has arranged the sale of a skilled nursing community in Clark, just west of Staten Island. Built in the 1990s, the community exhibited a modern physical plant with all of the rooms at the community private or semi-private occupancy and offering ventilator patient care for up to 10 residents. At the time of marketing, the community was 56 percent occupied, resulting in a significant net operating income loss. Prior to the COVID-19 Pandemic, the community averaged 85 percent occupancy with a large mix …
DESOTO, Texas — JLL Capital Markets has arranged the sale of Methodist Transitional Care Center, a 100-bed, 66-unit transitional care facility in the Dallas suburb of DeSoto. JLL represented the seller, Madison Marquette, in the sale to LFI Real Estate. The absolute net lease has just over 13 years of primary term remaining at sale, and there are also two five-year renewal options. Although the price was not disclosed, the capitalization rate based on first-year rent is 6.8 percent. Methodist Transitional Care Center is leased to a joint venture between …
BARNESVILLE and FORSYTH, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two seniors housing communities totaling 69 units in Georgia. Sunny Grove Assisted Living, located in Barnesville, offers 34 units of assisted living and memory care on a 9.5-acre site. River Place Assisted Living, located in Forsyth, offers 35 units of assisted living and memory care on a 7.3-acre site. The neighboring cities are located approximately 60 miles south of Atlanta. The seller is a local owner-operator looking to exit the seniors housing industry. The buyer …