Saturday, February 1, 2025
Read the Magazine Subscribe

Assisted Living

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
AcquisitionsAssisted LivingNewsVirginia

Foundry Commercial Acquires 90-Unit White Springs Senior Living Community in Metro D.C.

by Jeff Shaw

WARRENTON, Va. — Foundry Commercial has acquired White Springs Senior Living, a 90-unit seniors housing community located in Warrenton, approximately 48 miles outside of Washington, D.C.  White Springs, which opened in 2020, offers assisted living and memory care services.  Ryan Weekes and Zach Strunk of Foundry arranged the transaction, with support from Spring Arbor Associates. Capital Funding Group (CFG) provided funding for the acquisition. The seller, sales price and loan amount were not disclosed.

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAssisted LivingMichiganNews

SLIB Brokers Sale of 122-Unit Portfolio in Michigan

by Jeff Shaw

HARTLAND and GRAND BLANC, Mich. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a portfolio of two assisted living and memory care communities in Michigan. The assets are located in Harland and Grand Blanc, both south of Flint. The two properties feature a combined 122 units.   The seller was a local development partnership looking to exit the industry. The buyer was a growing Michigan-based provider looking for newer, value-add opportunities. The price was not disclosed. Bradley Clousing and Daniel Geraghty led the transaction for SLIB.

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAssisted LivingIndianaNews

Blueprint Negotiates Sale of Community in Fort Wayne for Behavioral Health Conversion

by Jeff Shaw

FORT WAYNE, Ind. — Blueprint Healthcare Real Estate Advisors has arranged the sale of an assisted living and memory care community in Fort Wayne. Developed in 1996, this Northern Indiana assisted living and memory care community is located in close proximity to downtown Fort Wayne and offers large amenity spaces, private baths and outdoor programming areas. An institutional investor sold the asset to a behavioral healthcare provider with plans to convert the community. The price was not disclosed. The Blueprint team included Andrew Sfreddo, Shane Harmon, Gunnar Raney, Amy Sitzman …

Continue Reading
0 FacebookTwitterLinkedinEmail
Assisted LivingDevelopmentNew JerseyNews

Marquis Starts Renovations at Allendale Senior Living in New Jersey

by Jeff Shaw

ALLENDALE, N.J. — Marquis Health Consulting Services has started a renovation project at Allendale Senior Living, an assisted living and healthcare campus in the North Jersey borough of Allendale. The project follows a rebranding at Allendale Senior Living – formerly The Allendale Community for Mature Living. Located on 12 acres in a quiet, suburban Bergen County neighborhood, the campus spans 146,000 square feet. The number of units was not disclosed. While a development cost was not released, Marquis describes it as a multi-million-dollar project. Marquis has partnered with the community’s …

Continue Reading
0 FacebookTwitterLinkedinEmail
Assisted LivingFinanceFrom The Magazine

Investors Expect Assisted Living to Get Biggest Bump in Rental Rates Over Next Year, Says CBRE Survey

by Jeff Shaw

By Matt Valley More than 75 percent of investors surveyed by CBRE expect rental rate increases of at least 3 percent over the next 12 months across all seniors housing asset classes except skilled nursing. The most bullish outlook is in the assisted living sector where 28.1 percent of survey respondents expect to underwrite rent growth above 7 percent, up from 15 percent in the 2022 survey. No decreases in rental rates are expected for any asset class. Meanwhile, difficulty in maintaining adequate staffing levels ranks as the greatest headwind …

Continue Reading
0 FacebookTwitterLinkedinEmail
Assisted LivingDevelopmentMarylandMemory CareNews

ML Group Plans Renovations for 101-Unit The Terraces at Tuckerman Lane in North Bethesda, Maryland

by Jeff Shaw

NORTH BETHESDA, Md. — ML Group has spearheaded the design of planned renovations at The Terraces at Tuckerman Lane in North Bethesda, a suburb of Washington, D.C. Although a specific development price was not disclosed, the project was described as a “multi-million-dollar renovation.” The community was also recently rebranded and new leadership was hired, including senior executive director Laura Holden. “North Bethesda is one of Maryland’s most desirable neighborhoods, and our residents appreciate the blend of urban and suburban living with access to dynamic shopping, dining, entertainment and cultural experiences,” …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAssisted LivingNewsOklahoma

Blueprint Negotiates Sale of 110-Unit Community in Tulsa, Oklahoma

by Jeff Shaw

TULSA, Okla. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 110-unit assisted living and memory care community in Tulsa. The community opened in late 2017 offering high-end design and finishes, Class A amenities, and a diverse unit mix. Despite some early traction, performance stalled going into, and through, the COVID-19 pandemic before showing signs of resurgence in the last 12 months. A national investor and its operator, both based in Seattle, sold the asset for an undisclosed price. The buyer was a growing operator with roots …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAssisted LivingNewsOhio

Blueprint Negotiates Sale of 88-Unit Community in Metro Cleveland

by Jeff Shaw

CLEVELAND — Blueprint Healthcare Real Estate Advisors has arranged the sale of an 88-unit assisted living and memory care community in metro Cleveland. The community was built in 1988. Blueprint used the availability of the Ohio Assisted Living Medicaid Waiver Program as a selling point. The seller was a public REIT and its operating partner. The buyer was a private owner-operator looking to expand in the area. The price was not disclosed. The Blueprint team included Ben Firestone, Michael Segal, Connor Doherty, Ryan Kelly and Lauren Nagle.

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts