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Acquisitions

AcquisitionsNewsOklahomaSkilled Nursing

Plains Commercial Negotiates Sale of Three-Building Skilled Nursing Portfolio in Oklahoma

by Jeff Shaw

TULSA and CUSHING, Okla. — Plains Commercial has arranged the sale of three skilled nursing facilities in Tulsa and Cushing. The portfolio totals 243 licensed beds. Two of the buildings were built in the 1960s and 1970s, and had undergone extensive renovations in recent years. The third was built in 1997. The portfolio was legacy owned, having been very rarely available on the market in its operating history. The seller is a local operator that sought to exit the industry. The buyer is one of the largest skilled nursing operators …

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AcquisitionsFloridaNewsOperations

Watermark Retirement Communities to Operate Merrill Gardens at ChampionsGate in Florida

by Jeff Shaw

CHAMPIONSGATE, Fla. — Watermark Retirement has taken over operations for Merrill Gardens at ChampionsGate, located approximately 25 miles southwest of downtown Orlando. The transition is part of a purchase agreement by Fortress Investment Group, which acquired the community in April. Under the agreement, Watermark will manage all aspects of the community’s operations including care, staffing and programming. The community has been renamed The Glades at ChampionsGate. The community offers 114 independent living, 73 assisted living and 36 memory care units.

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AcquisitionsActive AdultNewsTexas

JLL Brokers Sale of 151-Unit ArborView Active Adult Community in Austin

by Jeff Shaw

AUSTIN, Texas — JLL Capital Markets has arranged the sale of ArborView, a 151-unit active adult community in Austin. JLL represented the seller, Cadence Multi-Family, in the sale of the property to Sparrow Partners. The buyers assumed the existing HUD financing on the project. The price was not disclosed. Opened in 2021, ArborView is located in Greyrock Ridge within the Circle C Ranch master-planned community in southwest Austin. Development of Circle C Ranch began in 1982 and today the community includes over 6,400 homes. Neighborhood amenities include an 18-hole golf …

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AcquisitionsNewsSkilled NursingTexas

Blueprint Negotiates $52M Sale of Four-Property Portfolio in Texas

by Jeff Shaw

DALLAS, AUSTIN, SAN ANTONIO and HOUSTON, Texas — Blueprint Healthcare Real Estate Advisors has brokered the sale of four seniors housing communities in the Texas markets of Dallas, Austin, San Antonio and Houston. The price was $52 million, or $153,000 per bed. The buyer and seller were not disclosed. The portfolio totals 315 skilled nursing beds and 24 assisted living beds. All facilities were constructed between 2017 and 2018, average a five-Star CMS rating and feature resort-style amenities with therapy and rehabilitation gyms. The portfolio was not stabilized, and while …

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AcquisitionsAssisted LivingNewsNorth CarolinaOperations

Charter Senior Living to Operate Community in Charlotte, North Carolina

by Jeff Shaw

CHARLOTTE, N.C. — Charter Senior Living has taken over management of The Social at Cotswald in Charlotte, and has renamed the community Charter Senior Living of Charlotte. The asset offers assisted living and memory care services. The number of units was not disclosed. The change in management will increase the family of Charter Senior Living retirement communities to more than 40 throughout the United States.

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AcquisitionsAffordable HousingCaliforniaNews

Avanath Acquires St. John’s Manor Affordable Community in Costa Mesa, California

by Jeff Shaw

COSTA MESA, Calif. — Avanath Capital Management LLC has acquired St. John’s Manor, a 36-unit affordable seniors housing community in the Orange County city of Costa Mesa, for $11.8 million. Built in 1984 and renovated in 2007, St John’s Manor is currently 100 percent occupied. This acquisition comes on the heels of Avanath’s acquisition of The Overlook at Anaheim Hills, a 261-unit seniors housing community in Anaheim, and The Grove Senior, an 85-unit seniors housing community in Garden Grove. “We entered the Orange County market earlier this year, and plan …

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AcquisitionsAssisted LivingGeorgiaNews

1031 Crowdfunding Acquires 154-Unit Memory Care, Assisted Living Portfolio in Georgia

by Jeff Shaw

COLUMBUS and LEESBURG, Ga. — 1031 Crowdfunding has acquired a 154-unit assisted living and memory care portfolio located in Middle Georgia. The price and seller were not disclosed. The two properties are located in Columbus, along the Alabama border in Western Georgia, and Leesburg, approximately 75 miles southeast of Columbus. Completed in 2018 and 2019, Oaks at Oakland Plantation and Oaks at Grove Park include two buildings over 16 acres with six hospitals within a 25-mile radius of the locations. The acquisitions were made through the buyer’s affiliate 1031 CF …

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AcquisitionsNewsTennessee

Lloyd Jones Acquires 131-Unit Maybelle Carter in Madison, Tennessee

by Jeff Shaw

MADISON, Tenn. — Lloyd Jones has acquired Maybelle Carter, a 131-unit senior independent living, assisted living and memory care community in first-ring Nashville suburb of Madison. The property will operate under Lloyd Jones’ Sage Hill brand as Sage Hill Maybelle Carter. Maybelle Carter is Lloyd Jones’ third seniors housing acquisition this year. In February, the firm added two Class A communities to its senior living portfolio: Aviva Woodlands in Lincoln, Nebraska, and River Bend in Rochester, Minnesota. The property was built on the former estate of country music legend “Mother” …

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AcquisitionsAssisted LivingMinnesotaNews

Blueprint Brokers Sale of 86-Unit Valleyview of Owatonna in Minnesota

by Jeff Shaw

OWATONNA, Minn. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of Valleyview of Owatonna, an 86-unit assisted living community in Owatonna, 40 miles west of Rochester. Chicago-based private equity firm HAN Capital sold the asset to an undisclosed buyer for $7.4 million. Valleyview is positioned as the value-based market provider and its services are supported by Minnesota’s Elderly Waiver and CADI waiver programs that allow for sustainable state reimbursement for income-qualified residents. Having reached its peak occupancy in 2020 with only limited private pay residents, Valleyview was generating …

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AcquisitionsMemory CareNewsTexas

Plains Commercial Arranges Sale of Richmond Meadows Memory Care in Texarkana, Texas

by Jeff Shaw

TEXARKANA, Texas — Plains Commercial has arranged the sale of Richmond Meadows Memory Care in Texarkana. Originally built in 2010, Richmond Meadows is licensed for 40 beds covering across a 24,600-square-foot community. With a Class A physical plant, the facility offers strong upside through management changes and further lease-up. After an extensive marketing campaign, the seller chose a regional assisted living and memory care operator as the buyer. With the sale of the facility, the seller exited the memory care business. Daniel Morris with Plains Commercial handled the transaction. The …

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