GREENVILLE, S.C. — Evans Senior Investments (ESI) has arranged the sale of a 52-unit assisted living community in Greenville. A large, East Coast-based private equity firm sold the asset to regional owner-operator Windriver Cos. for an undisclosed price. Built in 2001, the community is 100 percent private pay. Having been all studios, the community was 40 percent occupied at the time of marketing and losing money. “The buyer plans on utilizing their existing resources in the state to oversee the community, begin construction on a refurbishment and add memory care …
LEHI, Utah — Senior Living Investment Brokerage (SLIB) has arranged the sale of Harmony Hills, a 62-unit assisted living facility in Lehi, located on the north bank of Utah Lake between Salt Lake City and Provo. The community was built in 2016, totaling approximately 46,000 square feet on 1.5 acres of land. The property was vacant at the time of sale. The seller was a Utah-based developer looking to exit the industry. The buyer is a Utah-based skilled nursing and short-term rehab owner-operator expanding its portfolio into assisted living. The …
LEESBURG, Fla. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Vista Lake Assisted Living in the Central Florida city of Leesburg. Originally constructed in two phases in 1996 and 2000, Vista Lake consists of 74 units of assisted living and memory care. The sale was part of nonprofit owner Eagle Senior Living’s Chapter 11 bankruptcy process. Eagle bought the property in late 2018, and its performance suffered greatly during COVID. Atlantis Senior Living entered the stalking-horse bid for the property, which ended up winning the auction. The …
LAUDERHILL and HOLLYWOOD, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Lenox on the Lake in Lauderhill and Majestic in Hollywood. Lenox on the Lake offers 127 units and 133 beds on a 4.9-acre site. Majestic exclusively offers memory care, totaling 65 units and 115 beds on a 3.6-acre site. The seller was primarily a skilled nursing operator, and these were its last assisted living assets. The buyer was a regional owner-operator based in South Florida. Bradley Clousing and Daniel Geraghty of SLIB represented the seller …
KENTWOOD, Mich. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Azpira Place of Breton, a seniors housing community in the Grand Rapids suburb of Kentwood. The community was built in 2001 and features 67 assisted living and 12 memory care units. The seller acquired the property as part of a larger portfolio expanding its platform across the Midwest. Shortly thereafter, a substantial interior renovation initiative was completed in 2019. Representing management’s only location in the state, the seller made the decision to exit the market. The buyer …
NAPLES, Fla. — Experience Senior Living (ESL) has unveiled plans for The Gallery at Naples, a 169,327-square-foot community in the Gulf Coast city of Naples. Plans call for 125 assisted living apartments and 33 memory care suites in a four-story building. ESL plans to break ground in the fourth quarter of 2022. ESL notes that more than half of the population in the market over age 65. “We are very intentional about the locations we select for Experience Senior Living developments,” say Phill Barklow, president of ESL. “Naples is an …
OREGON — VIUM Capital has provided an $11 million bridge-to-HUD loan to Ohana Ventures. The borrower will use the funds to purchase an assisted living community in Oregon. Further details were not disclosed.
Assisted LivingIndustry ContentLegal IssuesMemory CareOperationsPeopleSkilled NursingTechnologyVideosWebinars
Webinar: Modernizing Seniors Housing Care — Simplifying Workflows for Caregivers through Technology
On Sept. 8, Seniors Housing Business hosted a panel discussion called “Modernizing Seniors Housing Care — Simplifying Workflows for Caregivers through Technology” where four seniors housing industry experts spoke about streamlining and improving resident care. Tech innovations were the focus of the webinar. What tools and data help most when it comes to senior care? Listen to hear in-depth discussions on the topics and more: The latest trends in technology-enabled senior care How technology can help simplify workflows and increase productivity The importance of machine learning to drive more proactive …
FLORIDA — VIUM Capital has provided $7.7 million in bridge-to-HUD financing for 428 Healthcare. The funds refinance existing debt on a 50-bed assisted living community in Florida. The borrower acquired the property in 2019 and was looking for a cash-out refinancing. Further details were not disclosed.
MOSELEY, Va. — Watercrest Senior Living Group has hired Marsha Sottung as executive director of Watercrest Richmond Assisted Living and Memory Care in Moseley. Watercrest Richmond is currently under construction and preparing to welcome residents this fall to the 98-unit luxury senior living community. Sottung was the youngest assisted living administrator in the state of New York at the age of 21. For the past 30 years, she has served in various roles as a certified nursing aide, operations director and regional manager.