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 …
Assisted Living
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.
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 …
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 …
JCH Arranges Operational Transition of Assisted Living Facility in Alhambra, California
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.
Your Caregiver Team Includes the Building Itself
While seniors housing operators grapple with occupancy issues, labor challenges and margin squeeze, the building’s role within the industry is sometimes overlooked. But innovative building design and new technologies can help improve staff efficiency, optimize resident care and increase revenue. “The senior living industry is evolving,” says Gaurie Rodman, vice president of real estate strategy and development at Direct Supply, a provider of equipment and services to the senior living and healthcare industries. “Buildings are taking on a role beyond shelter.” New building designs are being created through an efficiency …
DALLAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of an assisted living and memory care community in Dallas. The property was built in 1996 and renovated in 2020. The buyer plans to convert the property into a behavioral health facility. The seller and price were not disclosed. Additionally, Blueprint helped introduce and secure a real estate capital partner for the behavioral healthcare operator. The two parties entered into a long-term, triple-net lease on the asset and the capital partner will provide renovation capital for the operator.
PORTLAND, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 72-unit assisted living and memory care community in Portland. The facility was built in 1961 with renovations in 2021. The property totals 52,217 square feet on approximately 4.22 acres of land. The seller was a local owner-operator seeking to retire from the industry. The buyer was a private equity company based in Salt Lake City, with senior living communities throughout the country. This is the buyer’s second community in the Portland market. The price was not …
LUTZ and ORANGE CITY, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two seniors housing communities in Florida. Totaling 173 units of assisted living and memory care, the properties are located in the Tampa suburb of Lutz and the Orlando suburb of Orange City. The seller is a partnership between an institutional capital provider and a national operator. The company initially acquired the communities as part of a larger portfolio of campus-style assets. The buyer is a Florida-based regional owner-operator continuing to grow across the Southeast. …
Bridges by EPOCH Names Luidja Jean Louis as Executive Director of Community in Lexington, Massachusetts
LEXINGTON, Mass. — Bridges by EPOCH has named Luidja Jean Louis as executive director of Bridges by EPOCH at Lexington, a memory care assisted living community in Lexington. Louis’ daily responsibilities include directing the community’s overall operations and leading team members in providing care. Louis has served as the community’s wellness director since March 2022. Louis holds several higher education diplomas and certifications, including an associate’s degree in nursing from Quincy College.