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Assisted Living

AcquisitionsAssisted LivingNewsUtah

Blueprint Negotiates Sale of Two Communities in Utah

by Jeff Shaw

UTAH — Blueprint Healthcare Real Estate Advisors has arranged the sale of two Class A assisted living and memory care communities in Utah. The two communities, built by the same developer in 2011 & 2016, respectively featured similar layouts, each with approximately 90 units. Both were over 97 percent occupied at the time of sale. An institutional investor sold the assets to a private equity firm for an undisclosed price. Avista Senior Living will continue to operate the communities following the sale.

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Assisted LivingCaliforniaFinanceNews

Lument Provides $7.5M Fannie Mae Refinancing for Carlton Senior Living in Sacramento

by Jeff Shaw

SACRAMENTO — Lument has provided a $7.5 million Fannie Mae loan to refinance Carlton Senior Living, a 56-unit assisted living community in Sacramento. Built in 2008, Carlton Senior Living is located on the Carlton Senior Living Continuum of Care Campus, next to a 128-unit assisted living and memory care community that was refinanced in 2016, also with assistance from Lument. When it first opened, Carlton Senior Living was serving high-acuity assisted living residents. In 2021, the borrower altered its strategy and catered it services more toward traditional assisted living. The …

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AcquisitionsAssisted LivingNewsUtah

1031 Crowdfunding Acquires 178-Unit Portfolio in Utah

by Jeff Shaw

ST. GEORGE and LINDON, Utah — 1031 Crowdfunding has acquired its first two seniors housing communities in Utah. Totaling 178 units of assisted living and memory care, the communities are located in the Provo suburb of Lindon and St. George, which is located approximately 130 miles northeast of Las Vegas. Both properties total 156,473 square feet across 5.85 acres, offer seven-year leases, and are within a four-mile radius of local hospitals. “As 1031 Crowdfunding continues to grow, we plan to move into other regions of the country,” says Edward Fernandez, …

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AcquisitionsAssisted LivingNebraskaNews

Blueprint Brokers Sale of 110-Unit Community in Omaha

by Jeff Shaw

OMAHA, Neb. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a Class A, 110-unit assisted living and memory care community in Omaha. A Midwest-based developer that works in multiple asset classes sold the asset to Cedarhurst Senior Living for an undisclosed price. Blueprint Capital Markets assisted in arranging acquisition financing through a regional bank. The community was over 95 percent occupied at the time of sale.

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AcquisitionsAssisted LivingNewsOperationsTexas

Ridgeline Takes Over Operations of Parsons House of Frisco in Texas

by Jeff Shaw

FRISCO, Texas — Ridgeline Management Co. has taken over operations of Parsons House of Frisco, renaming the property The Ridge at Frisco. The Ridge at Frisco is a three-story assisted living community that has served the Frisco area since 2001. The Ridge at Frisco is the fourth community added to the Ridgeline’s portfolio in recent months. It joins The Peaks at Millcreek in Salt Lake City; The Ridge at Oregon City in Oregon City, Oregon; and Ridge at The Stratford in Phoenix. These communities are a part of an aggressive …

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Assisted LivingDevelopmentNew YorkNews

FilBen Group, RSF Partners Break Ground on $54M Assisted Living Facility in Montebello, New York

by Jeff Shaw

MONTEBELLO, N.Y. — A partnership between owner-operator FilBen Group and Dallas-based private equity firm RSF Partners has broken ground on Braemar at Montebello, a $54 million assisted living facility in New York’s Lower Hudson Valley region. The site is located near Good Samaritan Hospital — Suffern, as well as numerous commercial establishments. The property will span 133,675 square feet and will feature one- and two-bedroom units with an average size of 500 square feet. H2M Architects + Engineers designed the project, and McAlpine Contracting is handling construction. M&T Bank provided …

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AcquisitionsAssisted LivingNewsVirginia

CBRE Negotiates Sale of HarborChase of Prince William Commons in Woodbridge, Virginia

by Jeff Shaw

WOODBRIDGE, Va. — CBRE National Senior Housing’s investment properties team has arranged the sale of HarborChase of Prince William Commons, a Class A seniors housing community in Woodbridge, a suburb of Washington D.C. Built in 2018, HarborChase of Prince William Commons is a three-story building with 127 units of assisted living, transitional memory care and memory care units. John Sweeny, Aron Will, Garrett Sacco and Scott Bray represented the sellers, Silverstone Senior Living and Lionstone Investments. Although the price was not disclosed, CBRE National Senior Housing’s debt and structured finance …

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Assisted LivingDevelopmentFinanceFloridaNews

Live Oak, Renasant Provide Construction Loan for 158-Unit Community in Naples, Florida

by Jeff Shaw

NAPLES, Fla. — Live Oak Bank and Renasant Bank have provided an undisclosed amount of financing for construction of a 158-unit assisted living and memory care community in Naples. The borrower is a joint venture between investment management firm Heitman and NexCore Group. Experience Senior Living, NexCore’s operating subsidiary, will manage the property.

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Assisted LivingInvestmentNewsNorth Carolina

LTC Invests $128M in 12 Communities in North Carolina

by Jeff Shaw

WESTLAKE VILLAGE, Calif. — LTC Properties Inc. (NYSE: LTC), a Westlake Village-based real estate investment trust that primarily invests in seniors housing and healthcare properties, has made a $128 million investment in 12 assisted living/memory care properties totaling 937 beds and 568 units across North Carolina. An existing LTC partner operates all the communities. The majority of LTC’s $128 million investment is structured as a joint venture and a minor portion is structured as a senior mortgage loan secured by one property. The investment was funded from approximately $99 million …

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Assisted LivingFinanceGeorgiaNews

Live Oak Closes $13M Refinancing for Mansions at Gwinnett Park in Lawrenceville, Georgia

by Jeff Shaw

LAWRENCEVILLE, Ga. — Live Oak Bank has arranged a $13 million loan to refinance debt on Mansions at Gwinnett Park, a seniors housing community in Lawrenceville, a northeastern suburb of Atlanta. The property, which opened in 2019, features 94 units of assisted living and memory care. The borrower is Mansions Senior Living, an Oklahoma-based operator. The property was still leasing up when the COVID-19 pandemic began, and the loan will allow additional time for the property to complete its lease-up, according to Live Oak.

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