Wednesday, February 5, 2025
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Assisted Living

Assisted LivingFinanceIowaKeyBankNews

KeyBank Funds $17M HUD Refinancing for Two Bickford Properties in Iowa

by Jeff Shaw

DAVENPORT and MARION, Iowa — KeyBank Real Estate Capital (KBREC) has secured $17 million of fixed-rate Federal Housing Administration loans for Bickford Senior Living, a senior living owner and operator based in Olathe, Kansas. The loans will refinance debt for Bickford of Davenport and Bickford of Marion, both located in Iowa. The buildings each were built in 1998 on 2.5 acres. Bickford of Davenport comprises 42 beds, 35 for assisted living and seven for memory care. Bickford of Marion comprises 38 beds, 31 for assisted living and seven for memory …

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AcquisitionsAlabamaAssisted LivingNews

SLIB Brokers Sale of 42-Unit Brookdale Shoals in Muscle Shoals, Alabama

by Jeff Shaw

MUSCLE SHOALS, Ala. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Brookdale Shoals, a 42-unit assisted living and memory care community in Muscle Shoals, located along the Tennessee River in the northwest corner of Alabama. The asset was an operational outlier for Brookdale, the seller. The buyer is a local partnership between an individual investor and operating partner. The price was not disclosed. Brad Clousing, Jeff Binder and Daniel Geraghty of SLIB handled the transaction.

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AcquisitionsAssisted LivingGeorgiaNews

SLIB Brokers Sale of 46-Unit Amber Glen Community in Gainesville, Georgia

by Jeff Shaw

GAINESVILLE, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Amber Glen, a 46-unit assisted living and memory care community in Gaineville. Amber Glen is located approximately eight miles from Lake Lanier and 70 miles northwest of downtown Atlanta. A group of five tenants in common, which purchased the asset in 2006, sold the property for an undisclosed price. The buyer, primarily a skilled nursing owner-operator, is looking to expand its assisted living presence across the state of Georgia. SLIB’s Daniel Geraghty and Bradley Clousing handled the …

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Assisted LivingDevelopmentNewsVirginia

Silverstone, Watermark Open The Providence Luxury Community in Fairfax, Virginia

by Jeff Shaw

FAIRFAX, Va. — Silverstone Senior Living and Watermark Retirement Communities have opened The Providence, a luxury seniors housing community in the MetroWest neighborhood of Fairfax. The property features studio, one- and two-bedroom apartments offering services for assisted living, memory care and cognitive impairment. The number of units was not disclosed. Silverstone designed and developed the property, which Watermark will operate. The Providence features innovations that reduce or prevent transmission of viruses. These include an enhanced filtration and HVAC system, cold plasma bi-polar ionization, relative humidity levels of 40 to 60 …

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AcquisitionsAssisted LivingFloridaNews

SLIB Brokers Sale of 84-Unit Beach House Community in Jacksonville

by Jeff Shaw

JACKSONVILLE, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Beach House, an 84-unit assisted living and memory care community in Jacksonville. Built in 2014, the community features a total of 100 beds. The buyer is a partnership between a regional operator and two investment firms, one based in Florida and the other in New York. The seller was divesting of the asset as part of a planned investment horizon. The price was not disclosed. Bradley Clousing, Matthew Alley and Jeff Binder handled the transaction for SLIB. …

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AcquisitionsAssisted LivingNewsWest Virginia

SLIB Negotiates Sale of Colonial Place Assisted Living in Elkins, West Virginia

by Jeff Shaw

ELKINS, W.V. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Colonial Place, a 70-unit, 88-bed assisted living and memory care community in Elkins, approximately 80 miles south of Morgantown. The community was built in 1995. The seller was an institutional capital provider based in Florida that acquired the asset as a part of a larger portfolio. The property was an operational outlier for the seller. The buyer, a local nonprofit, now can provide a full spectrum of care in Elkins as it also owns a local nursing …

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AcquisitionsAssisted LivingNew YorkNews

ESI Arranges $10M Sale of The Terrace at Woodland in Rome, New York

by Jeff Shaw

ROME, N.Y. — Evans Senior Investments (ESI) has arranged the sale of The Terrace at Woodland, a 46-unit assisted living and memory care community in the Central New York city of Rome. An independent owner-operator sold the property to a regional owner operator. The price of $10 million equates to approximately $217,000 per unit and a capitalization rate of 7.5 percent. Built in 2009, The Terrace at Woodland is licensed for 48 assisted living beds and 12 memory care beds. In addition, the community holds an ALP Medicaid license in …

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Assisted LivingDevelopmentFloridaNews

Watercrest, St. Joe Company Open 107-Unit Community in Santa Rosa Beach, Florida

by Jeff Shaw

SANTA ROSA BEACH, Fla. — Watercrest Senior Living Group and The St. Joe Company have welcomed its first residents to Watercrest Santa Rosa Beach Assisted Living and Memory Care. Located on the Florida Panhandle, the property features 75 assisted living units and 32 memory care units in a 92,000-square-foot building.

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AcquisitionsAssisted LivingNewsOregon

SLIB Brokers $15.7M Sale of The Grove and The Gardens in Forest Grove, Oregon

by Jeff Shaw

FOREST GROVE, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Grove and The Gardens, a 92-unit assisted living and memory care community in Forest Grove, approximately 25 miles west of Portland. A family retiring from the industry sold the property to a regional owner-operator for $15.7 million. The community was built in 1996, with memory care added in 2000. The facility is approximately 63,000 square feet and is situated on approximately 2.7 acres of land plus an additional one-acre lot. The buyer plans to remodel …

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Assisted LivingDevelopmentMinnesotaNews

Lifespace Prepares to Open 21-Unit Expansion at Friendship Village of Bloomington in Minnesota

by Jeff Shaw

BLOOMINGTON, Minn. — Lifespace Communities plans to open a healthcare center expansion at Friendship Village of Bloomington later this month. The project adds 16 assisted living apartment homes and five memory care suites to the senior living community, bringing the total communitywide capacity to 42 assisted living apartments and 32 memory care suites. The three-story building is equipped with a secure memory care courtyard. This phase is part of a larger $114.5 million communitywide expansion and redevelopment initiative. The overall project also includes a new independent living building with 93 …

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