IRVINE, Calif., and MARKHAM, Ontario — Irvine-based Sabra Health Care REIT Inc. (NASDAQ: SBRA) has partnered with Markham-based Sienna Senior Living (TSX: SIA) to acquire a Canadian seniors housing portfolio for $243 million (CA$307.5 million). The portfolio includes 11 communities totaling 1,048 units across the provinces of Ontario and Saskatchewan. Sabra and Sienna will co-own the properties through a newly formed 50/50 joint venture. The predominantly independent living portfolio consists of mostly newer construction with an average age of six years, which positions it well to capture demand growth across …
ROCHESTER, Minn. — Lloyd Jones has acquired River Bend Assisted Living and Memory Care, an 89-unit senior living community in Rochester. The property will operate under Lloyd Jones’ proprietary AVIVA brand as AVIVA River Bend. The sales price was not disclosed. Constructed in 2014, the property is 1.5 miles from the original and largest Mayo Clinic. The community stretches over 2.8 acres and includes landscaped walking paths with direct access to the scenic Zumbro River trails. Blueprint Healthcare Real Estate Advisors arranged the $26.5 million sale. Lloyd Jones plans to …
INDIO and SAN BERNARDINO, Calif. — The Ensign Group, Inc. (NASDAQ: ENSG) has acquired the operations of two skilled nursing facilities in Southern California. The assets include Arrowhead Springs Healthcare, a 119-bed skilled nursing facility located in San Bernardino, and Desert Mountain Care Center, a 99-bed skilled nursing facility located in Indio. The acquisition of Arrowhead Springs Healthcare includes the real estate and operations at the facility. Desert Mountain Care Center will be subject to a long-term, triple-net lease. “We are very excited to add these facilities to our California …
NEW HOLLAND, Pa. — Three of Pennsylvania’s leading nonprofit, faith-based senior living organizations — Allegheny Lutheran Social Ministries of Altoona (ALSM), Liberty Lutheran Services of Ambler and Garden Spot Communities of New Holland — have announced plans to affiliate under the new parent company name Ilumin. The affiliation is subject to the receipt of certain regulatory approvals and consents, which the three organizations hope to receive by spring of 2022. The goal of Ilumin is to introduce innovative new services and programs to residents, offer employees more career opportunities, and …
Some investor types have doubled down while others have fled seniors housing as the COVID-19 pandemic enters its third year. By Jeff Shaw COVID-19 has changed many investors’ approaches to the seniors housing sector. The pandemic caused a major shift in who’s buying and who’s selling. Some of the biggest buyers in 2019 were the biggest sellers in 2021. For example, institutional investors went from buying more than $2 billion in 2019 to selling more than $3 billion through the first three quarters of 2021. That’s according to Real Capital …
INDIANAPOLIS — Sonida Senior Living has acquired two recently renovated senior living communities in metro Indianapolis for approximately $12.3 million. Core Redevelopment, a local multifamily developer and manager, acquired the communities in 2019 and immediately rebranded and repositioned the properties through interior and exterior renovations. Walker & Dunlop Investment Sales brokered the transaction. The communities, Northfield Senior Living and Southfield Senior Living, include 157 independent living units and are located approximately 20 minutes outside of downtown Indianapolis near major highways, stores and restaurants. The assets complement Sonida Senior Living’s existing …
NAMPA, Idaho — Blueprint Healthcare Real Estate Advisors has arranged the sale of a seniors housing community in the Boise suburb of Nampa. The single-story community features 107 independent living units, 18 assisted living units and 42 licensed skilled nursing beds. The REIT owner and operator collectively decided to divest the property, as it was the operator’s only Idaho location. Cascades Healthcare acquired the asset for an undisclosed price.
DUBLIN and NOVATO, Calif. — Southern California private equity firm IRA Capital has acquired two newly constructed assisted living and memory care facilities totaling 160 units in the Northern California cities of Dublin and Novato for $106.5 million. An active player in the medical office, life sciences and ambulatory surgery space, IRA Capital is growing and diversifying its healthcare real estate portfolio by expanding into seniors housing in high-barrier-to-entry markets on the West Coast. Elegance Senior Living operates the two Class A communities. Elegance at Dublin is an 80-unit community …
EAGLE, Idaho — The Pennant Group Inc. (NASDAQ: PNTG), an Eagle-based REIT, has agreed to transfer the operations of five senior living communities to affiliates of The Ensign Group Inc. The five communities are located in Washington, Arizona and California and are co-located with skilled nursing facilities already operated by affiliates of Ensign. The transaction is anticipated to occur across separate closings in the first half of 2022, subject to receipt of third-party approvals and other customary closing conditions. On the same day, Pennant Group announced that it has entered …
ALABAMA and TENNESSEE — Blueprint Healthcare Real Estate Advisors has arranged the sale of a two-property portfolio of communities in Alabama and Tennessee. The portfolio included two seniors housing communities consisting of 152 units of independent living, assisted living and memory care. The properties were built in 2018. An Alabama-based owner-operator bought the assets as part of a plan to increase its footprint in the Southeast. The seller and price were not disclosed.