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Assisted Living

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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AcquisitionsAssisted LivingFinanceMassachusettsNews

Oxford Finance Provides $23.5M Credit Facility to Prosper Life Care for Two Acquisitions in Massachusetts

by Jeff Shaw

MASSACHUSETTS — Oxford Finance LLC has provided a $23.5 million senior credit facility and revolving line of credit to Prosper Life Care Inc. The proceeds were used for the acquisition of two assisted living/memory care facilities located in Massachusetts totaling 214 units. Further details were not disclosed.

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AcquisitionsAssisted LivingNewsTexas

SLIB Brokers Sale of 167-Unit Portfolio in El Paso, Texas

by Jeff Shaw

EL PASO, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of three seniors housing communities — SunRidge of Cambria, Cielo Vista and Desert Springs — in El Paso totaling 167 units of assisted living and memory care. The communities were built in 1995, 1998 and 2000 and maintained 89 percent, 87 percent and 90 percent occupancy, respectively, at an early point of the onset of COVID-19. The seller is a debt and equity capital provider looking to divest of a non-core market, while the buyer is a …

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AcquisitionsAssisted LivingFloridaNews

ESI Arranges Sale of Plantation Oaks of High Springs in Florida for $9.2M

by Jeff Shaw

HIGH SPRINGS, Fla. — Evans Senior Investments (ESI) has negotiated the sale of Plantation Oaks of High Springs, a 66-unit assisted living and memory care community in High Springs, approximately 20 miles northwest of Gainesville. An independent owner-operator sold the community to a regional owner-operator for $9.2 million, or $139,000 per unit. The buyer secured a loan from the in-place lender on the property. Originally built in 1988 with a 36-unit expansion in 2014, Plantation Oaks of High Springs is licensed for 52 assisted living beds and 20 memory care …

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AcquisitionsAssisted LivingMontanaNewsWyoming

SLIB Negotiates Sale of Two Communities in Montana, Wyoming

by Jeff Shaw

CODY, Wy., and GREAT FALLS, Mont. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two assisted living communities, located in Cody and Great Falls. The portfolio totals 107 units of assisted living and independent living. The buyer is an Oregon-based regional owner-operator familiar with the region. The seller and price were not disclosed. Bradley Clousing, Jason Punzel and Jeff Binder of SLIB handled the transactions.

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