Friday, November 29, 2024
Read the Magazine Subscribe

Assisted Living

AcquisitionsAssisted LivingFloridaNews

SLIB Negotiates Sale of 50-Unit Gold Choice Palm Coast in Florida

by Jeff Shaw

PALM COAST, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Gold Choice Palm Coast, a 50-unit assisted living and memory care community in Palm Coast, approximately midway between Jacksonville and Orlando. The community was built in 2021 and spans 33,552 square feet on a 6.6-acre parcel. The seller was a Florida-based owner-operator that originally developed the community. The asset was fully stabilized with opportunity to continue revenue growth, according to SLIB.  The buyer was a 1031 fund looking for newer assets with strong in-place yield. The …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAssisted LivingFloridaNews

SLIB Negotiates Sale of 64-Unit The Canopy at Harper Lake in Lake City, Florida

by Jeff Shaw

LAKE CITY, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Canopy at Harper Lake in Lake City, a small city of approximately 12,000 residents between Jacksonville and Tallahassee. The community features 44 assisted living units and 20 memory care units. Built in 2019 the community sits on approximately 5.7 acres. The asset was stabilized with all private-pay residents at the time of sale. The seller was a Florida-based developer and investment group. The buyer is a 1031 fund targeting newer assets with strong in-place cash …

Continue Reading
0 FacebookTwitterLinkedinEmail
Assisted LivingDevelopmentMassachusettsNews

Anthology Opens Two Communities in Suburban Boston

by Jeff Shaw

NATICK and MILLIS, Mass. — Anthology Senior Living has opened Anthology of Natick and Anthology of Millis, both located in western suburbs of Boston. Anthology of Natick is situated within a mile of the Natick Center, offering art, culture, dining and shopping for residents. The property is also next door to the Natick Community Senior Center. Anthology of Millis is located near neighboring downtown Medfield and the Charles River, providing easy access to both nature and cultural amenities. Located just outside the city center on 5.5 acres, Anthology of Natick …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAssisted LivingNewsNorth Carolina

SLIB Negotiates Sale of Community in Thomasville, North Carolina

by Jeff Shaw

THOMASVILLE, N.C. — Senior Living Investment Brokerage (SLIB) has arranged the sale of an assisted living and memory care community in Thomasville, located south of Winston-Salem and Greensboro. The seller is an institutional capital provider looking to exit, as this was an operational outlier due to the size of the community. The buyer was a local owner-operator in North Carolina. The price and further details regarding the property were not disclosed. Daniel Geraghty, Bradley Clousing and Jeff Binder led the transaction for SLIB. 

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAssisted LivingNew MexicoNews

SLIB Arranges Sale of Two Communities in Albuquerque, New Mexico

by Jeff Shaw

ALBUQUERQUE, N.M. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two assisted living communities in Albuquerque. The communities were built in 1972 and 1982, with renovations in 2011 and 2015. The properties are 3,176 and 7,880 square feet, and are situated on approximately 0.38 and 0.6 acres of land. The seller was a mom-and-pop owner divesting to retire from the industry. The buyer is an owner-operator expanding its presence in the Weste. This is the buyer’s first acquisition in New Mexico. The price was not disclosed. Vince …

Continue Reading
0 FacebookTwitterLinkedinEmail
Assisted LivingCCRCDevelopmentNewsWashington

Emerald Communities Begins $55M Assisted Living Expansion at Emerald Heights in Redmond, Washington

by Jeff Shaw

REDMOND, Wash. — Emerald Communities has broken ground on an assisted living expansion project in Redmond, approximately 10 miles east of Seattle.  The development will add 54 one-bedroom units to Emerald Heights, a continuing care retirement community. The project also includes a dining space, activity rooms, an outdoor patio and a centralized courtyard across 67,55 square feet. Development costs are estimated at $55 million. Dean Kelly of the architecture firm Rice Fergus Miller is leading the design, and also recently managed Emerald Heights’ new 42-unit independent living building and earlier …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAssisted LivingIowaKansasNebraskaNewsOperations

Tutera Takes Over Management of 10 Communities in Midwest

by Jeff Shaw

KANSAS, IOWA and NEBRASKA — Tutera Senior Living & Health Care has added 10 communities in Kansas, Iowa and Nebraska to its management portfolio. The new assets expand the company’s footprint by more than 20 percent and total 443 units of assisted living, memory care and residential care. Tutera is retaining all employees at the newly added communities to ensure continuity of care for residents.  The 10 communities are: IOWA  •          Anamosa – Pinicon Place Senior Living •          Carroll – Rolling Meadows Senior Living •          Clarinda – Eiler Place Senior Living •          Council Bluffs …

Continue Reading
0 FacebookTwitterLinkedinEmail
Assisted LivingFinanceIllinoisNews

Greystone Provides $16.8M Loan for Supportive Living Community in Rolling Meadows, Illinois 

by Jeff Shaw

ROLLING MEADOWS, Ill. — Greystone has provided a $16.8 million HUD LEAN 232/223(f) green loan to refinance a 102-unit supportive living facility in Rolling Meadows, approximately 25 miles northwest of Chicago.  Plum Creek at Rolling Meadows is a three-story facility on 1.46 acres, which was constructed in 1986 as a hotel property and converted to a supportive living facility in 2006. The Supportive Living program in Illinois is an alternative to nursing home care for low-income older persons requiring mid-range care needs as opposed to skilled nursing. With the 35-year …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAssisted LivingNewsOhioSkilled Nursing

Blueprint Brokers Sale of 192-Bed St. Theresa Care Center in Cincinnati

by Jeff Shaw

CINCINNATI — Blueprint Healthcare Real Estate Advisors has arranged the sale of St. Theresa Care Center in Cincinnati. A public REIT elected to execute the strategic sale of the facility following an operator transition earlier this year. St. Theresa Care Center is licensed for 92 assisted living beds and 99 skilled nursing beds. A National Historic Landmark, St. Theresa Care Center was originally built as an acute care hospital in the mid-1920s and was later expanded in the late 1950s. The building, which was ultimately converted to its current use, …

Continue Reading
0 FacebookTwitterLinkedinEmail
Assisted LivingFinanceFloridaNews

First Citizens Bank Provides Loan to Refinance American House St. Petersburg in Forida

by Jeff Shaw

ST. PETERSBURG, Fla. — First Citizens Bank has provided a loan to refinance American House St Petersburg, a senior living community in St. Petersburg. The borrower is a joint venture between American House, Harrison Street and Prevarian Senior Living, which opened the community in 2021. This community features 66 independent living units, 66 assisted living units and 33 memory care units.  Terms of the loan were not released.

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts