MONTEBELLO, N.Y. — The Polaris Healthcare Network has opened The Sentinel of Rockland in Montebello, located along the New Jersey border northwest of New York City. Located on seven acres, the community offers assisted living services through the state’s Medicaid program. M&T Bank provided capital for the development. Further details were not disclosed.
BARDSTOWN and ELIZABETHTOWN, Ky. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Bluegrass Assisted Living, which comprises two assisted living communities 30 miles from each other in Bardstown and Elizabethtown. The communities offer a combined total of 84 units on three acres. A California-based owner-operator looking to exit seniors housing sold the assets for an undisclosed price. The assets are the first acquisitions for a newly formed operator based in the Southeast. The price was not disclosed. Daniel Geraghty and Bradley Clousing of SLIB handled the transaction …
INDIANA — Evans Senior Investments (ESI) has arranged the sale of an assisted living community in Indiana. The price and location were not disclosed. The seller was a publicly traded REIT seeking to divest of a non-performing asset. In 2018, the community had stabilized occupancy levels aboce 95 percent. However, in recent years the occupancy has slipped due to new competition in the surrounding submarket. At the time of sale, the community’s unit occupancy was 60 percent and it was operating at a negative cash flow margin. The buyer was …
NAMPA, Idaho — Blueprint Healthcare Real Estate Advisors has arranged the sale of Streamside Assisted Living & Memory Care in Nampa. The community features 54 assisted living units and 25 secured memory care units. A regional buyer expanding in the Pacific Northwest acquired the property from a local seller. Further details were not disclosed.
FALLBROOK, Calif. — Contour, a real estate investment and development company, has acquired Estancia Senior Living in Fallbrook, a suburb of San Diego. The price was $35 million. Located on a 3.4-acre lot, the two-story property features 79 assisted living units and 25 memory care units. The 88,892-square-foot community opened in summer 2021. The sale also included approximately five acres of additional vacant land, located directly adjacent to the property. Meridian Senior Living will continue to operate the asset following the sale. Alanna Ellis and Jeff Sause of JLL Capital …
MARSHALL and MT. PLEASANT, Mich. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Maplewood of Marshall and Maplewood of Mt. Pleasant, located approximately 100 miles away from each other in Central Michigan. The assets feature a combined total of 93 assisted living units. Built in the late 1980s and 1990s with renovations in the early 2000s, the communities were well maintained with over 95 percent occupancy prior to the onset of the global pandemic. The operator ultimately decided to exit its only assisted living communities to concentrate …
PACE, Fla. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Canopy on Berryhill, a seniors housing community in the Pensacola suburb of Pace. The community offers assisted living and memory care and consists of 64 units and 80 beds. The property opened in late December 2019. The first resident move-ins occurred in late December 2019 and early January 2020. Despite the challenges of COVID-19, the property achieved 95 percent occupancy in less than a year. A partnership led by Florida-based developer Rimrock Cos. sold the asset. The buyer …
GOSHEN, Ind. — Evergreen Real Estate Group has secured financing and started preliminary site work for Green Oaks of Goshen, a four-story, 120-unit assisted living community for low-income seniors in Goshen. Evergreen Construction Company, a division of Evergreen Real Estate Group, is serving as general contractor on the development and plans to officially break ground on Oct. 28. Completion is scheduled for early 2023. The $30 million project will replace a vacant three-acre lot on the city’s north side, near an existing Salvation Army building and retail along Main Street. …
CAPE GIRARDEAU, Mo. — Newbridge Properties has broken ground on Newbridge Retirement Community in Cape Girardeau, located along the Mississippi River in the southeast portion of the state. The 75,000-square-foot community will feature 46 assisted living units, 12 second-person accommodations for couples and 36 memory care units. Vessel Architecture is the architect for the facility, while IMPACT Strategies is the construction manager. Construction is expected to be complete by the end of 2022.
What can traditional seniors housing operators learn from successes in the active adult community segment, especially when it comes to generating interest and inquiries? How can active adult communities improve their own marketings strategies? These were the questions that Seniors Housing Business‘ latest webinar “Seniors Housing — Lead Generation Lessons from Active Adult Communities” sought to answer on Oct. 6. This webinar, sponsored by LeadingResponse, covered the following topics and more when it comes to best practices for marketing in the senior living space: Julie Podewitz, Vitality Living, explains …
