Thursday, November 21, 2024
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Assisted Living

Modena Reserve in Washington, D.C.
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Mesa West Provides $114M in First-Mortgage Debt to Refinance Two Seniors Housing Communities in suburbs of Philadelphia, Washington, D.C.

by Channing Hamilton

MALVERN, Pa., and KENSINGTON, Md. — Mesa West Capital has provided AEW Capital Management LP with $114.6 million in first-mortgage debt across two loans to refinance the seniors housing communities of Echo Lake in Malvern and Modena Reserve at Kensington in Kensington. Terms of the loans were not disclosed. AEW delivered the 250-unit Echo Lake to the market in 2020 alongside joint venture partner Sage Senior Living Inc., which operates the community. Located about 27 miles northwest of Philadelphia in Malvern, Echo Lake offers a mix of independent and assisted …

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Monark Grove Greystone in Birmingham, Alabama
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Atlas Senior Living Adds Two Alabama Communities to Management Portfolio

by Channing Hamilton

MADISON and BIRMINGHAM, Ala. — Atlas Senior Living has assumed management of two communities in northern Alabama: Monark Grove Madison in Madison and Monark Grove Greystone in Birmingham. KIRCO, a national commercial real estate development and investment firm based in Troy, Mich., built and owns the communities. KIRCO is also a partner with Atlas at the Legacy Reserve at Fritz Farm community in Lexington, Ky. “Our experience working together in Kentucky has set a high bar, and we look forward to continuing to redefine the senior living experience through our …

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AcquisitionsAssisted LivingCaliforniaIndependent LivingMemory CareNews

Senior Resource Group Acquires Fountainview at Gonda in Los Angeles, Renames Property

by Channing Hamilton

PLAYA VISTA, Calif. — Senior Resource Group (SRG), a developer and operator of luxury senior living communities, has assumed ownership and operation of Fountainview at Gonda in Playa Vista, a neighborhood in the Westside area of Los Angeles. The property was previously owned and operated by Los Angeles Jewish Health (LAJHealth). SRG is renaming the community Avocet Playa Vista. A continuing care retirement community, Avocet Playa Vista offers independent living, assisted living, memory care and integrated healthcare, including rehabilitative therapies. Residents own a long-term contract for care and services in a well-appointed private …

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AcquisitionsAssisted LivingNewsSkilled NursingTennessee

ESI Brokers Sale of Mabry Health Care & Rehabilitation Center in Gainesboro, Tennessee

by Channing Hamilton

GAINESBORO, Tenn.— Evans Senior Investments (ESI) has arranged the sale of Mabry Health Care & Rehabilitation Center in Gainesboro, located about 88 miles east of Nashville. The transaction was executed on behalf of the seller, an independent owner-operator. The buyer was Strawberry Fields REIT in an off-market transaction. Mabry Health Care, a family-owned nursing home founded in 1979, has served the Gainesboro community for over four decades. Originally focused solely on skilled nursing care, the center expanded its services in 2005 to include assisted living. Today, the facility comprises 108 total …

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AcquisitionsAssisted LivingGeorgiaNews

SLIB Brokers Sale of 41-Unit Assisted Living Facility in Cumming, Georgia

by Channing Hamilton

CUMMING, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Country Gardens Lanier, a 41-unit assisted living facility in Cumming, approximately 40 miles northeast of Atlanta. SLIB was retained to solicit bids on behalf of the court-appointed receiver, GGG Partners. The buyer was a regional owner and operator seeking to expand its footprint across the Southeast.  Managing Director Daniel Geraghty and Senior Managing Director Bradley Clousing of SLIB handled this transaction. The buyer operates another seniors housing community in Forsyth County, Georgia, according to Geraghty, which “should …

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AcquisitionsAssisted LivingIndependent LivingKentuckyNews

Senior Living Investment Brokerage Arranges Sale of Four-Property Portfolio in Western Kentucky

by Channing Hamilton

HENDERSON, Ky. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a four-property portfolio in Henderson, located in western Kentucky along the Ohio River and approximately 11 miles south of Evansville, Ind. Known as the Colonial Portfolio, the properties in the transaction included Colonial Assisted Living (69 units), Colonial Court Independent Living (22 units), Colonial Senior Living (51 assisted living units) and Colonial Cottages (16 independent living units). The seller was a local owner who developed and operated the assets since their inception. The buyer was a Kentucky-based owner and operator looking to grow its portfolio …

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AcquisitionsAssisted LivingFinanceFloridaIndependent LivingMemory CareNews

JLL Capital Markets Closes Sale, Financing of Seniors Housing Community in South Florida

by Channing Hamilton

LAKE WORTH, Fla. — JLL Capital Markets has brokered the sale of Mariposa, a 313-unit seniors housing community in Lake Worth, located about 17 miles south of West Palm Beach and 20 miles north of Boca Raton. The real services firm also secured financing for the buyer. The seller and sales price were not disclosed, but the South Florida Business Journal reports that the facility sold for nearly $63.8 million. The seller was Ventas, the Chicago-based healthcare real estate investment trust. JLL represented the seller, and procured the buyer, Focus Healthcare Partners. Additionally, JLL …

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AcquisitionsAssisted LivingGeorgiaNews

Blueprint Brokers Sale of 61-Unit Assisted Living Community in Buford, Georgia

by Channing Hamilton

BUFORD, Ga. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 61-unit assisted living and memory care community in Buford, located 39 miles northeast of Atlanta. The buyer in the all-cash transaction was an acquirer of value-add properties. The seller was an institutional real estate and development firm. The names of the buyer and seller were not disclosed. Even though the property was at 73 percent occupancy and operating at a negative margin at the time of sale, the real estate asset’s potential attracted significant interest, particularly …

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Tempo of Deal Velocity Increases as Industry Enters Homestretch of 2024

by Channing Hamilton

By Matt Valley Following a quiet end-of-summer period on the dealmaking front — “quieter than it has been for years with the exception of the pandemic” — Sabra Health Care REIT Chief Investment Officer Talya Nevo-Hacohen encountered a flurry of transaction activity in late August and early September.  “It’s been gangbusters, and what we’re seeing is primarily seniors housing assets (independent living and assisted living) coming to market,” said the veteran REIT executive who participated in the webinar Seniors Housing Business hosted on Sept. 5, titled “Creating Value in Seniors Housing — …

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The Retreat at Carrollton in Carrollton
AcquisitionsAssisted LivingNewsOperationsTexas

12 Oaks Senior Living Expands Management Portfolio with Retreat at Carrollton in Metro Dallas

by Channing Hamilton

CARROLLTON, Texas — 12 Oaks Senior Living has expanded its management portfolio with the addition of The Retreat at Carrollton, an assisted living community in Carrollton, located approximately 20 miles northwest of Dallas.  The 122-unit property opened early this year. A private equity group based in Dallas selected 12 Oaks to operate The Retreat at Carrollton. As part of this partnership, 12 Oaks will focus on optimizing operations, lease-up, enhancing resident experiences and achieving the owner’s business goals. The management team at 12 Oaks emphasizes the importance of resident-centered care, innovative …

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