MONTEREY, Calif. — Sherman & Roylance has arranged the $8.3 million sale of a 55-bed assisted living and memory care community in the Central Coast city of Monterey. A San Diego-based husband and wife team purchased the asset from a new player in the seniors housing sector looking to focus on different geographic areas. The multi-phased campus was originally built in 1955 and expanded in 1999. Shep Roylance, John Sherman and Chris Minnery of Sherman & Roylance arranged the transaction.
WILDWOOD, TOWN & COUNTRY and KANSAS CITY, Mo. — JLL Capital Markets has arranged the sale of three seniors housing communities in Wildwood, Town & Country and the Burlington Creek area of Kansas City. The buyer was a joint venture between Artemis Real Estate Partners, Scarp Ridge Capital Partners and Arrow Senior Living. The seller and price were not disclosed. JLL represented the seller and procured the buyer spearheaded by Scarp Ridge and capitalized by Artemis. Arrow Senior Living is taking over operations of the three communities. The acquisition is …
COON RAPIDS, Minn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Homestead at Coon Rapids, a 53-unit assisted living and memory care community in Coon Rapids, a northern suburb of Minneapolis. Built in 1999, The Homestead at Coon Rapids features 29 assisted living units 24 memory care units. The property totals 31,195 square feet on approximately three acres of land. The seller is a large, national nonprofit looking to condense its portfolio to focus on core communities. The buyer is an in-state owner partnering with an …
PLEASANT PRAIRIE, Wis. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 100-unit assisted living and memory care community in Pleasant Prairie, approximately midway between Chicago and Milawukee. Built in 2016, the facility benefits from an attractive, modern physical plant and has been well maintained, according to SLIB. The seller was an East Coast-based private equity firm. The buyer is a regional owner-operator that had been looking to expand in this market. The price was not disclosed. Bradley Clousing, Ryan Saul, and Jeff Binder of SLIB handled …
HAILEY, Idaho — Seattle-based BearRock Investments LLC has purchased Silvercreek Living, an assisted living community in Hailey, for $6.4 million. The buyer plans to convert the property into workforce housing. Hailey is a small city of fewer than 10,000 residents south of the Sun Valley-Ketchum metro area in Central Idaho. Located on McKercher Boulevard, the 24,600-square-foot asset consists of two 12,000-square-foot buildings, each offering 16 studio apartments and a large commercial kitchen. Paul Kenny of Paul Kenny & Matt Bogue Commercial Real Estate represented the buyer and undisclosed seller in …
BRADENTON and VENICE, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two seniors housing communities in Bradenton and Venice, both located on the Gulf Coast south of Tampa. The properties feature a combined 211 units of assisted living and memory care. The Bradenton asset was built in 1989, while Venice asset was constructed in 1998. The Bradenton property totals 74,786 square feet on approximately 7.62 acres of land while the Venice property totals 74,445 square feet on approximately 4.06 acres of land. The buyer is Florida-based …
MASON CITY, Iowa — Evans Senior Investments (ESI) has arranged the sale of Country Meadow Place, a 56-unit assisted living and memory care community in Mason City, approximately midway between Des Moines and Minneapolis. An independent owner seeking to exit the industry sold the property to its existing operator for $13 million, or $232,142 per unit. The community was originally built in 1985 as a 36-unit memory care community. In 2013, Country Meadow was acquired and five years later underwent a 20-unit assisted living expansion. At the time of marketing, …
FLORIDA — Sherman & Roylance has arranged the sale of a 42-unit, 64-bed assisted living and memory care community in Northwestern Florida. CareTrust REIT sold the asset to a local owner-operator for an undisclosed price. The community was built in 1997 and was 87 percent occupied at the time of sale. Jack Osteen, Shep Roylance, and John Sherman of Sherman & Roylance led the transaction.
MANKATO, Minn. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of The Pillars of Mankato, a 118-unit seniors housing community in Mankato, approximately 75 miles southwest of Minneapolis. The community consists of 98 independent and assisted living units alongside 20 memory care units. It was built in 2019 and totals 146,138 square feet on approximately 3.9 acres of land. The undisclosed seller sought funding for continued investments in seniors housing. The buyer is an out-of-state private equity group that will be partnering with the in-place operator to run …
LAKEWOOD RANCH, Fla. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired The Summit of Lakewood Ranch in Lakewood Ranch, approximately 40 miles south of Tampa. The community offers assisted living and memory care. CPF plans to make improvements to the campus. Grace Management will take over management of the property. The seller, price and number of units were not disclosed. Brett Gardner and the seniors housing team at Walker & Dunlop advised the seller on the transaction.