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Assisted Living

Assisted LivingDevelopmentFloridaNews

AJP Ventures, Mas Group Complete Luxury Community in Miami

by Jeff Shaw

MIAMI — Leading Miami-based commercial real estate owners and developers AJP Ventures and Mas Group, along with equity partner OCTA, have completed construction of The Contemporary, a luxury assisted living community in the Westchester neighborhood of Miami. The developers have planned a ribbon-cutting ceremony for Jan. 26 to officially open the doors. Charter Senior Living will operate The Contemporary, which features a mix of one- and two-bedroom units on a six-acre campus. The community is located on the same campus as MedSquare Place, a Class A medical office building also …

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AcquisitionsAssisted LivingFloridaNews

DeMarco Real Estate Group Brokers $12.1M Sale of Two Assisted Living Facilities in Florida

by Jeff Shaw

MARGATE and DAVIE, Fla. — The DeMarco Real Estate Group of RE/MAX 5 Star Realty has arranged the $12.1 million sale of two assisted living facilities totaling 131 beds in Margate and Davie, both suburbs of Miami. PrivCap Cos. in Boca Raton sold the assets to a private investment group from New York. The facilities specialize in memory care and operate under the name of Caring Village. The portfolio sold for 81 percent higher than the last sale in 2020 for $7 million, which the DeMarco Real Estate Group also …

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AcquisitionsAlabamaAssisted LivingNews

Blueprint Arranges Sale of Three Communities in Alabama

by Jeff Shaw

ALABAMA — Blueprint Healthcare Real Estate Advisors has arranged the sale of three seniors housing communities in Alabama. Sold by a publicly traded REIT, the portfolio consists assisted living and memory care communities totaling 202 units across the state’s three largest metros. The assets were originally constructed in 1999 and 2000. Texas-based Proveer Senior Living acquired the properties and plans to undertake significant capital projects across the assets. This acquisition strategically enhances the buyer’s growing footprint throughout the state of Alabama. The price was not disclosed.

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AcquisitionsActive AdultAffordable HousingAssisted LivingDevelopmentFinanceIndustry ContentOperationsVideosWebinars

Webinar: What Will 2023 Hold for Seniors Housing Investment & Acquisition Activity?

by Sarah Daniels

    In an uncertain time for the seniors housing industry, the “What Will 2023 Hold for Seniors Housing Investment & Acquisition Activity?” webinar focused on what’s influencing the landscape now and what is likely to affect it in the near future. The Dec. 8 panel discussion, hosted by Seniors Housing Business and sponsored by Valuation & Information Group, delved into tough topics like wages and staffing; inflation; the costs of debt and equity; government reimbursement; and other economic factors to illuminate what we can expect in 2023. Tune in …

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AcquisitionsAssisted LivingGeorgiaNews

CBRE Arranges Sale of 85-Unit Thrive at Augusta in Georgia

by Jeff Shaw

AUGUSTA, Ga. — CBRE National Senior Housing has arranged the sale of Thrive at Augusta, a Class A assisted living and memory care community. Located in the heart of Augusta, the 85-unit community was built in 2019 and was fully occupied at the time of sale. Drake Real Estate Partners sold the asset to Inspired Healthcare Capital. While the price was not disclosed, CBRE also arranged $16.8 million in acquisition financing for the buyer. CBRE National Senior Housing’s investment sales team members Aron Will, John Sweeny Jr., Garrett Sacco and …

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Assisted LivingFinanceGeorgiaNews

Marcus & Millichap Arranges $8.3M Refinancing for Brookside Commerce in Georgia

by Jeff Shaw

COMMERCE, Ga. — Marcus & Millichap Capital Corp. (MMCC) has arranged an $8.3 million loan for the refinancing of Brookside Commerce, an assisted living facility in Commerce, approximately 70 miles northwest of Atlanta. The 62-bed community includes 12 independent living units. It is 3.5 miles from Northridge Medical Center, a full-service community hospital. Robert Bhat, based out of the MMCC Miami office, led the transaction. “Brookside Commerce was acquired in September 2019,” says Bhat. “We were able to secure a 35-year HUD loan to refinance the asset and provide cash …

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Assisted LivingDevelopmentNew YorkNews

EW Howell Completes 80-Unit St. Johnland Assisted Living in Kings Park, New York

by Jeff Shaw

KINGS PARK, N.Y. — EW Howell Construction Group has completed work on St. Johnland Assisted Living in Kings Park. The two-story, 68,000-square-foot facility on Long Island’s North Shore offers 80 residential units and 100 beds. St. Johnland is a provider on Long Island of skilled nursing care, with specialties in dementia, head injury rehabilitation, subacute care and adult day care. The new assisted living facility was built adjacent to the existing St. Johnland Nursing Center on the 100-acre complex that the nonprofit organization owns. KDA Architects designed the community to …

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AcquisitionsAssisted LivingColoradoNews

CA Ventures Sells 267-Unit Metro Denver Portfolio to Harrison Street

by Jeff Shaw

WESTMINSTER and ENGLEWOOD, Colo. — CA Ventures has sold its Anthology of Westminster and Anthology of Englewood senior living assets to Harrison Street. “Anthology’s Westminster and Englewood assets have leased incredibly well — particularly having opened their doors at the onset of the COVID-19 pandemic in February 2020,” says Justin Dickinson, president of Anthology Senior Living. “The strong financial performance of each asset despite a volatile global macroeconomic environment and never-before-seen headwinds across the industry is a testament to both our investment strategy and the talent of our team.” The …

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AcquisitionsAssisted LivingFinanceNewsOhioPennsylvania

VIUM Arranges $89.4M Acquisition Financing for Nine-Property Portfolio in Ohio, Pennsylvania

by Jeff Shaw

OHIO and PENNSYLVANIA — VIUM Capital has arranged $26.3 million in debt fund financing and $63.1 million in balance sheet financing for the acquisition of nine assisted living communities in Ohio and Pennsylvania. The borrower is a Minnesota-based owner-operator, which has planned capital improvements at the 580-unit portfolio. Further details were not disclosed.

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AcquisitionsAssisted LivingNewsPennsylvania

ESI Brokers Sale of 80-Unit Assisted Living Facility in Allentown, Pennsylvania

by Jeff Shaw

ALLENTOWN, Pa. — Evans Senior Investments (ESI) has arranged the sale of an 80-unit assisted living community in Allentown. An independent owner-operator sold the property to Hamister in an all-cash transaction. The price was not disclosed. The property was built in the 1980s, is 100 percent private pay and received in-place rates just shy of $5,000 a month. At the time of marketing, the community was 94 percent occupied and making over $800,000 in net operating income. Along with the community’s strong surrounding demographics, the facility implemented a rate increase …

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