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Assisted Living

AcquisitionsAssisted LivingNewsTennessee

SLIB Brokers Sale of 42-Unit Grace Manor in Nashville

by Jeff Shaw

NASHVILLE, Tenn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Grace Manor, a 42-unit assisted living community in Nashville. A local church built Grace Manor in 2010. The property struggled with occupancy and profitability during the COVID-19 pandemic. As a result of the performance, the property was voluntarily closed in November of 2021. The seller (which purchased the HUD note at auction) is a private investment firm that manages alternative assets for high-net-worth individuals and institutional investors. The buyer and price were not disclosed. Patrick Burke and …

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AcquisitionsAssisted LivingNewsTexas

SLIB Brokers Sale of 62-Unit Community in Carrollton, Texas

by Jeff Shaw

CARROLLTON, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 62-unit assisted living and memory care community in Carrollton, a suburb of Dallas. The community totals approximately 40,000 square feet on a 3.6-acres plot. The seller is a private equity group with a regional seniors housing portfolio. The Dallas-based buyer is a private investment group with a national seniors housing portfolio partnering with a local operator. The price was not disclosed. Matthew Alley and Jeff Binder of SLIB handled the transaction. “SLIB was able to help …

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AcquisitionsAlabamaAssisted LivingNews

Proveer Senior Living Acquires Vitality Living Regency in Mobile, Alabama

by Jeff Shaw

MOBILE, Ala. — Proveer has acquired Vitality Living Regency, a seniors housing community in Mobile. The community features 70 assisted living units and 20 memory care units. The acquisition marks the eighth overall for Proveer, its fifth in the state of Alabama and second in Mobile. Blueprint Healthcare Real Estate Advisors brokered the sale. Proveer’s business model is a value-add strategy that includes purchasing communities at a relatively low basis, renovating the buildings and rebranding them under the Proveer flag. The community is now known as Proveer at Port City. …

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Assisted LivingFinanceNewsOklahoma

Berkadia Arranges $16.7M Financing for Prairie House in Broken Arrow, Oklahoma

by Jeff Shaw

BROKEN ARROW, Okla. — Berkadia has arranged $16.7 million in financing for Prairie House, a 105-unit assisted living and memory care community in Broken Arrow, a suburb of Tulsa. Chris Cain and Rafael Nobo of Berkadia Seniors Housing & Healthcare secured the acquisition financing through Fannie Mae on behalf of the buyer, Wichita-based Legend Senior Living. The 10-year loan features a 5.68 percent interest rate, 30-year amortization schedule and 65 percent loan-to-value ratio. Prairie House was built in 2016 and features 73 assisted living units and 32 memory care units.

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Assisted LivingDevelopmentNevadaNews

Joint Venture Breaks Ground on Valage Carson Valley in Minden, Nevada

by Jeff Shaw

MINDEN, Nev. — A joint venture between Greystone Housing Impact Investors LP (NYSE: GHI) and ISL Ventures has broken ground on Valage Carson Valley, a seniors housing community in Minden, a small municipality of approximately 3,000 people just east of Lake Tahoe. The property will feature 56 assisted living units and 46 memory care units. The project is scheduled for completion in fall 2024. PI Architects designed the community, which Metcalf Builders is constructing, managed by Leading Light Development and Construction Consulting. Integral Senior Living will be the operator upon …

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AcquisitionsAssisted LivingMarylandNews

Blueprint Negotiates Sale of 65-Unit Woodlands Assisted Living Community in Middle River, Maryland

by Jeff Shaw

MIDDLE RIVER, Md. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Woodlands Assisted Living, a 65-unit assisted living and memory care community in Middle River, a northeastern suburb of Baltimore. A publicly traded REIT sold the asset to Inspirations Assisted Living and Memory Care for an undisclosed price. Built in 1999, the community featured a history of performance prior to the onset of the pandemic, with occupancies north of 90 percent and operating margins approaching 30 percent. Significantly impacted by the pandemic in 2020 and 2021, the …

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Assisted LivingDevelopmentNew JerseyNews

Capitol Seniors Housing Completes 87-Unit Arbor Terrace Marlton in New Jersey

by Jeff Shaw

MARLTON, N.J. — Capitol Seniors Housing has completed Arbor Terrace Marlton, an 87-unit assisted living and memory care community in Marlton, approximately 15 miles east of Philadelphia. Project partners include operator The Arbor Co., architecture and design firm Meyer, and builder IMC Construction. The three-story, 76,500-square-foot community features 60 assisted living apartments, 27 memory care units and 15,000 square feet of amenity space. Construction began in April 2021.

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AcquisitionsAssisted LivingKentuckyNews

SLIB Negotiates Sale of 114-Unit Portfolio in Kentucky

by Jeff Shaw

ELIZABETHTOWN and RICHMOND, Ky. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Acadian Cove in Richmond and Willow Creek Senior Living in Elizabethtown. Acadian Cove offers 49 units of assisted living and was built in 2009. Willow Creek feature 65 units of assisted living and memory care and was built in 1998. The seller was a REIT divesting to focus on liquidating capital for other investments. The buyer was a Northeast-based operator looking to add to its growing Midwest portfolio. The price was not disclosed. Daniel Geraghty …

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AcquisitionsAssisted LivingNewsTennessee

SLIB Brokers $10M Sale of The Waterford in Smyrna in Tennessee

by Jeff Shaw

SMYRNA, Tenn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Waterford in Smyrna. Located 25 miles southeast of Nashville, the facility features 68 units of assisted living and 24 units of memory care. Built in 2009, there is room for expansion on the 5.3-acre site. The property was 57 percent occupied at the start of the marketing. The seller is a local ownership group that developed and operated the property. The buyer is a Nashville-based owner-operator. The price was $10 million, or $108,695 per unit. Patrick …

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Assisted LivingCaliforniaNewsOperations

JCH Arranges Operational Transition of Assisted Living Facility in Alhambra, California

by Jeff Shaw

ALHAMBRA, Calif. — JCH Senior Housing Investment Brokerage has arranged the lease negotiation of a prominent assisted living facility in Alhambra, just east of Los Angeles. The facility, previously operated by a national operator, will now be under the management of a regional operator that specializes in low-income residents.

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