CARPINTERIA, Calif. — Blueprint Healthcare Real Estate Advisors has brokered the sale of GranVida Senior Living, a 70-unit assisted living and memory care community in the Central Coast city of Carpinteria. The community is situated in a high barrier-to-entry suburb between Santa Barbara and Ventura. The asset benefits from being the only seniors housing community within 10 miles. An institutional ownership group sold the asset to Blake Parsons, owner of RBP Communities, for an undisclosed price.
WISCONSIN — Evans Senior Investments (ESI) has brokered the sale of a 120-unit assisted living and memory care community in Wisconsin. National Health Investors (NHI) sold the property to Eden Senior Care. The name and location of the property, as well as the price, were not disclosed. At the time when the operator was brought in during 2019 by NHI, the community was experiencing a high usage of Medicaid waivers and the community was struggling overall. Over the past three years, the operator was able to transition the community to …
MILLVILLE, EGG HARBOR TOWNSHIP and HAMMONTON, N.J. — New Standard Senior Living has completed development of three Medicaid-focused assisted living communities in South Jersey. All three communities feature individual (single-occupant-only) studio apartment-style residences. The Millville community offers 154 units while the second, Egg Harbor Township location offers 166 units. The last of the initial three communities, located in Hammonton, is nearing its completion with 174 units this spring. The communities are the first of their kind in the state of New Jersey, according to New Standard, and are designated to …
MERRILLVILLE, Ind. — Evans Senior Investments (ESI) has arranged the sale of a 48-unit assisted living and memory care community in Merrillville. A regional family ownership group sold the asset to Lloyd Jones for an undisclosed price. The community was originally purpose built for memory care in 2016 and received in-place rates above $5,000 a month. In late 2019, the community began accepting assisted living residents due to slow lease-up velocity of the existing memory care units. The community experienced multiple bans on admissions due to COVID-19 outbreaks, with the …
NEW ORLEANS — Liberty Senior Living has opened The Carrollton, a seniors housing adaptive reuse of a former courthouse in New Orleans. The community features 73 assisted living and 20 memory care units. The project renovated 16,000 existing square feet, while adding 85,000 more. Construction of Carrollton Courthouse and the adjacent jailhouse were commissioned by Jefferson Parish in 1854 and completed in 1855. Architect Henry Howard designed the property in the Greek Revival style. The Carrollton Courthouse served as the seat of government for Jefferson Parish until it was annexed …
BRADENTON, SANFORD and PINELLAS PARK, Fla. — Grandbridge Real Estate Capital’s seniors housing investment sales team has arranged the sale of three assisted living and memory care communities in Florida. A national REIT sold the communities in three separate transactions. The buyers were a national investor based in Florida and two owner-operators with a presence in the region. The prices were not disclosed. The properties include the 112-unit Bradenton Oaks in Bradenton, the 94-unit Renaissance Retirement Center in Sanford, 145-unit FL Bayside Terrace in Pinellas Park. The Renaissance was built …
OSAGE, CHARLES CITY and CLEAR LAKE, Iowa — SVN Senior Housing has arranged the sale of a three-property, 130-unit assisted living portfolio in Iowa. T The properties were located in the communities of Osage, Charles City and Clear Lake and were stabilized at the time of sale. A private investment group sold the assets to an Iowa-based investment group with properties in Iowa, Minnesota and Wisconsin. Jennifer Espeland and John Klement led the SVN team in the transaction.
AGOURA HILLS, LODI and SAN JOSE, Calif. — Bellwether Enterprise Real Estate Capital LLC (BWE), has arranged the financing for Harrison Street’s acquisition of three Class A seniors housing communities in California. Oakmont Management Group operates all three communities: Oakmont of Agoura Hills in Agoura Hills, Oakmont of Lodi in Lodi and Oakmont of Silver Creek in San Jose. The luxury properties offer assisted living and memory care services. Ryan Stoll, BWE’s national director of seniors housing and care, and Taylor Mokris, senior vice president for seniors housing and care, …
GLENDORA, Calif. — Clearwater Living has opened Clearwater at Glendora, a 117-unit assisted living and memory care community in Glendora. The property is a two-story, 117,000-square-foot property offering 88 assisted living and 29 memory support apartments with studio, companion, one- and two-bedroom layouts. It is the only assisted living and memory care community in Glendora, according to the developer. Clearwater at Glendora is the company’s 10th seniors housing community in California, Arizona and Nevada, with plans for additional developments in the pipeline.
CHICAGO and SAN JOSE — Bellwether Enterprise Real Estate Capital LLC (BWE) has arranged two separate transactions totaling over $47 million to refinance two assisted living and memory care communities. The first is a $28.8 million loan to refinance an assisted living and memory care community in the Chicago metropolitan area on behalf of affiliates of a senior housing-focused private equity firm. The second is an $18.6 million loan to refinance an assisted living and memory care community in San Jose on behalf of affiliates of Westmont Living. Ryan Stoll …