LITTLETON, Colo. — Evans Senior Investments (ESI) has arranged the sale of Balfour at Littleton, a seniors housing community in the Denver suburb of Littleton. United Properties sold the 86-unit assisted living and memory care community for $31.5 million, or $366,279 per unit. Built in 2018, the trophy asset was 97 percent occupied. Over the past 12 months, the community consistently maintained an average occupancy of 95 percent, even with new supply coming into the market, according to ESI. The buyer was an investment group based in Ohio.
DALLAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 93-unit assisted living and memory care community in the Preston Hollow area of Dallas. The seller was a national developer and investor looking to create an exit strategy in order to maximize value for more than a dozen geographically disparate, older-vintage communities. The communities were purchased in a sizeable portfolio transaction pre-COVID, under a value-add thesis contemplating operator transitions to create regional groupings coupled with the intent to meaningfully invest in renovations and repositioning. Unfortunately, according to …
CONCORD, N.C. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 54-unit assisted living and memory care community in Concord, a northeastern suburb of Charlotte. Constructed in the late 1990s in a prominent location, Blueprint marketed the asset as a rare opportunity to acquire a performing, but not yet stable, community in an urban submarket of the high-barrier-to-entry, Certificate of Need state. The buyer was a newly formed joint venture between a Midwest-based investment group and Carolinas-based operator. The seller and price were not disclosed. Kyle Hallion, …
NEW BERN, SHELBY, GOLDSBORO, GREENVILLE and ROCKY MOUNTAIN, N.C. — Senior Living Investment Brokerage (SLIB) has arranged the re-tenanting of five seniors housing communities in North Carolina totaling 210 units of assisted living. The properties are located in New Bern, Shelby, Goldsboro, Greenville and Rocky Mountain. The landlord is a seniors housing and healthcare REIT. The new tenant is a North Carolina-based operator with a large presence in the state. Bradley Clousing, Daniel Geraghty and Patrick Burke of SLIB handled the transaction.
EAU CLAIRE, Wis. — Blueprint Healthcare Real Estate Advisors has arranged the sale of eight Dove Healthcare-owned seniors housing properties in Wisconsin. The portfolio totals 526 beds/units of skilled nursing and assisted living with regional concentration in and around Eau Claire. Five of the eight properties are located within an 11-mile radius and all within an approximate one-hour drive time. The portfolio consists of mostly five-star rated communities located in close proximity to all the major regional hospitals including HSHS Sacred Heart, Marshfield Clinic and Mayo Clinic-Eau Claire acute referral …
ASHLAND, Mass. — JLL Capital Markets has arranged the successful recapitalization transaction of the Residence at Valley Farm. LCB Senior Living will stay on as co-owner, while Blue Moon Capital Partners will replace Bridge Investment Group as the other owner. The price was not disclosed. The Residence at Valley Farm is located in Ashland, a wealthy bedroom community 25 miles west of Boston that provides access throughout the region via the commuter rail station in town and the nearby Massachusetts Turnpike (I-90). The three-story property is a Class A assisted …
WEST ORANGE, N.J. — Sherman & Roylance has negotiated the sale of the former Canterbury Village, a 44-unit, 53-bed assisted living community in the New York City suburb of West Orange. The buyer was a private senior living operator led by industry veterans Scott Burman and Lorne Schechter. The price was not disclosed. Canterbury Village closed its doors in mid-2023 and was owned by Provident Bank at the time of sale. George Bingham of Sherman & Roylance represented Provident in the transaction. Canterbury was operated previously as an affiliate of …
SAN BERNARDINO, Calif. — CareTrust REIT Inc. (NYSE: CTRE) has acquired The Villas at San Bernardino, a 78-unit assisted living and memory care facility located in the Inland Empire city of San Bernardino. In connection with its acquisition of the facility, CareTrust and a third-party regional healthcare real estate investor entered into a joint venture arrangement under which CareTrust provided a combined common equity and preferred equity investment amount totaling $10.7 million. CareTrust is the managing member of the joint venture entity. CareTrust’s initial contractual yield on its combined preferred …
SAN BERNARDINO, Calif. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Villas at San Bernardino, a 77-unit assisted living and memory care community in California’s Inland Empire. Built in 2003, the property totals 43,197 square feet on 1.35 acres of land. This was the seller’s only remaining seniors asset, as it plans to exit the industry. The buyer was an in-state owner-operator looking to grow its footprint in California. The price was not disclosed. Jason Punzel, Brad Goodsell, Vince Viverito and Jake Anderson of SLIB handled the …
SPRING HILL, FORT MYERS, NICEVILLE and TALLAHASSEE, Fla. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of four assisted living communities totaling 173 units in Florida. The properties are located in the municipalities of Spring Hill, Fort Myers, Niceville, and Tallahassee. A seniors housing REIT sold the assets to an operator expanding in Florida. The price was not disclosed. Bradley Clousing and Daniel Geraghty of SLIB handled the transaction.