Friday, November 29, 2024
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Assisted Living

AcquisitionsAssisted LivingMichiganNews

SLIB Brokers Sale of 122-Unit Bella Vita Portfolio in Michigan

by Jeff Shaw

HARTLAND and GRAND BLANC, Mich. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two Bella Vita-branded seniors housing communities in Michigan. The communities are located approximately 26 miles from each other between Detroit and Flint. Bella Vita – Hartland is located on 6.8 acres and totals 41,534 square feet of livable area, with 61 units offering both assisted living and memory care. Bella Vita- Grand Blanc is located on 4.65 acres and totals 41,508 square feet of livable space, with 61 units also providing both assisted living …

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AcquisitionsAssisted LivingNewsTennessee

Blueprint Negotiates Sale of 48-Unit Community in Chattanooga, Tennessee

by Jeff Shaw

CHATTANOOGA, Tenn. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 48-unit assisted living community in Chattanooga. An institutional REIT sold the asset to an investor looking to grow its regional platform in the Southeast. The price was not disclosed. The building was constructed in 2000 and historically has performed well, according to Blueprint. Kyle Hallion and Brooks Blackmon led the transaction for Blueprint.

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AcquisitionsAssisted LivingNewsOklahoma

JLL Arranges Sale of 105-Unit Prairie House in Broken Arrow, Oklahoma

by Jeff Shaw

BROKEN ARROW, Okla. — JLL Capital Markets has arranged the sale of Prairie House, a 105-unit assisted living and memory care community in the growing Tulsa suburb of Broken Arrow. JLL represented the seller, Prevarian Senior Living, and procured the buyer, TUL ALF 3 LLC.  Legend Senior Living, an affiliate of the buyer, will operate the community. The price was not disclosed. Prairie House features 73 assisted living units, ranging from studio to two-bedroom units, and 32 studio memory care units. The property was built in 2016. The community is part …

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AcquisitionsAssisted LivingGeorgiaNews

SLIB Negotiates Sale of 77-Unit Community in Buford, Georgia

by Jeff Shaw

BUFORD, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 77-unit assisted living and memory care community in Buford, approximately 35 miles northeast of Atlanta. The community was built in 2012 and totals 51,063 square feet on 2.5 acres of land. The buyer is a Florida-based regional owner-operator that plans to invest in cosmetically updating the community and improve overall performance through continued lease-up and expense efficiencies.  The seller was a private REIT that had purchased this asset as part of a larger portfolio and was …

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Assisted LivingDevelopmentNew YorkNews

Sunrise Opens 19-Story The Apsley in Manhattan’s Upper West Side

by Jeff Shaw

NEW YORK CITY — Sunrise Senior Living, together with partners Hines and Welltower (NYSE: WELL), has opened The Apsley, a 19-story luxury seniors housing community in Manhattan’s upscale Upper West Side neighborhood. Located at 2330 Broadway between 84th and 85th streets, The Apsley is the second luxury senior living community in Manhattan by Sunrise, Hines and Welltower. Sunrise at East 56th celebrated its first anniversary on the Upper East Side in December 2022. SLCE Architects designed the exterior architecture of The Apsley, which rises 19 stories. The community features 80 …

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AcquisitionsAssisted LivingFinanceNewsTennessee

CBRE Arranges $32.2M Acquisition Financing for Two Vitality Communities in Metro Nashville

by Jeff Shaw

FRANKLIN and HENDERSONVILLE, Tenn. — CBRE has arranged $32.2 million in financing for the acquisition of Vitality Living Franklin and Vitality Living Hendersonville, both located in high-growth suburbs of Nashville. The borrowers were Winterpast Capital Partners (WCP), Scribner Capital and its institutional partner, and Broadview Real Estate Partners. Vitality Living, WCP’s wholly owned operating platform, will manage the communities under a traditional third-party agreement. The portfolio consists of 256 assisted living and memory care units. Aron Will, Tim Root and Michael Cregan of CBRE National Senior Housing, arranged the financing, …

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AcquisitionsAssisted LivingIllinoisNews

SLIB Brokers Sale of 73-Unit The Legacy & Evergreen Place in Chillicothe, Illinois

by Jeff Shaw

CHILLICOTHE, Ill. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Legacy & Evergreen Place, a 73-unit assisted living and memory care community in Chillicothe, located along Goose Lake approximately 140 miles southwest of Chicago. The asset was part of a larger portfolio of skilled nursing facilities. The seller of this building, which is buying the remaining portfolio, elected to carve out this asset because the company specializes in skilled nursing. The buyer is a Midwest-based owner that built the community in 2015 and was looking to …

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AcquisitionsActive AdultAffordable HousingAssisted LivingCCRCDevelopmentFeaturesFinanceIndependent LivingIndustry ContentInvestmentOperationsVideosWebinars

Webinar: Seniors Housing Success Stories — Companies that are Rising Above the Headwinds

by Sarah Daniels

  The June 29 webinar “Seniors Housing Success Stories — Companies that are Rising Above the Headwinds“ focused on what leading seniors housing firms are doing to alter their businesses, streamline operations, increase occupancy and strategize in terms of deal volume and investment. Industry difficulties, including labor shortages, inflation and interest rates, have highlighted the need for expertise and well-informed approaches to the seniors housing sector recovery. Click to watch this hour-long discussion that considers both operations and trends in transaction activity. See how strategies and outlooks have shifted since last …

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AcquisitionsAssisted LivingIowaNews

SLIB Negotiates Sale of 40-Unit Vintage Park in Lenox, Iowa

by Jeff Shaw

LENOX, Iowa — Senior Living Investment Brokerage (SLIB) has arranged the sale of Vintage Park, a 40-unit assisted living and memory care community in Lenox, 25 miles north of the state border with Missouri. The community totals 3,000 square feet on four acres of land. The seller is a local owner and operator looking to exit the seniors housing sector. The buyer is a joint venture between an East Coast investor and a growing Midwest operator. The price was not disclosed. This property is the second acquisition in the state …

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AcquisitionsAssisted LivingFinanceIdahoNews

Berkadia Arranges $7.8M in Acquisition Financing for Two Communities in Idaho

by Jeff Shaw

IDAHO — Berkadia has arranged $7.8 million in financing for the acquisition of two assisted living and memory care communities in Idaho. Jay Healy and Andrew Lanzaro of Berkadia Seniors Housing & Healthcare arranged the bridge-to-HUD loan to facilitate the acquisition. The buyer, seller, price and locations were not disclosed. The bridge loan is interest-only and carries a term of 18 months with a six-month extension option. The communities were built between 1996 and 1999 and contain an average Medicaid mix of 75 percent. Combined occupancy had declined slightly in …

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